BTC - Slight Distribution After Nearly 10xMorning my fellow traders, and happy new year!
I hope you do not have a hangover right now. But if you do, get a tea going, it usually does the trick for me!
I can't deny the possibilities for another rally to take out the highs, but I'm thinking what the market makers are planning is a simple inverted Adam & Eve pattern that will lead us to new opportunities within the next month or so.
Keep in mind that for sometime now Alts have not been giving, and I believe that after this next Alt season (which I believe we will still get), they will keep giving less and less.
I sold near $100k for probably a couple weeks now. Did not get a perfect $108k sale, which is fine. Now I'll focus on a reentry if this plays out.
Trade thirsty, my friends!
USD (US Dollar)
EURO - Price can fall to support line of channel and bounce upHi guys, this is my overview for EURUSD, feel free to check it and write your feedback in comments👊
A few moments ago price declined inside wedge, where it broke $1.0770 level and declined to $1.0335 level.
Then price turned around and bounced up, making a gap and exited from wedge, after which continued to fall in channel.
Inside falling channel, Euro rose to resistance line first and then bounced and dropped to $1.0335 level.
After this movement, price some time traded near this level inside resistance area and even later fell to support line of channel.
Euro tried to back, but when it entered to resistance area, it at once turned around and fell back.
Now, I think that Euro can fall to support line of channel and then bounce up to $1.0450, breaking resistance level.
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GBPUSD -Dollar, employment indicators or tariff news?!The GBPUSD currency pair is below the EMA200 and EMA50 in the 4-hour timeframe and is moving in its downward channel. In case of upward correction of the currency pair, it is possible to sell this currency pair within the specified supply zone.
If the downward trend continues due to the release of economic data this week, we can see the demand zone and buy within that zone with the appropriate risk reward.
The yield on the UK’s 30-year bonds reached 5.22%, the highest level since 1998. This surge followed the sale of similar maturity bonds and heightened concerns about the large issuance of government debt. The UK government plans to issue £297 billion in bonds during the current fiscal year, marking the second-highest figure in the country’s history. This substantial issuance has exerted significant pressure on the bond market and raised fears about mounting national debt.
Moreover, expectations of a smaller rate cut by the Bank of England (BoE) have added further strain to the bond market. The UK government faces a considerable challenge in balancing the need to gain investors’ trust while managing its growing debt burden. The market remains overshadowed by the controversial 2022 budget under Liz Truss, the former Conservative Prime Minister.
Meanwhile, recent data has led to improved economic forecasts. Real personal consumption expenditure growth for Q4 is now expected to rise from 3% to 3.3%, while projections for real private domestic investment growth have improved from -0.9% to -0.6%. Additionally, the contribution of net exports to real GDP growth in Q4 has been revised upward from 0.07% to 0.11%.
Goldman Sachs has reduced its forecast for the Federal Reserve’s interest rate cuts in 2025 from 100 basis points to 75 basis points. The bank does not anticipate that President-elect Donald Trump’s policies will result in rate hikes. Goldman Sachs notes that core inflation is declining and remains skeptical about Trump’s policy changes having a significant impact on interest rates.
According to a report by The Washington Post, Trump may impose tariffs that are more limited in scope than he had promised during his campaign. This news has led to a decline in the value of the US dollar. Such reactions are likely to recur as more details about the tariffs are announced.
Reports of lower tariffs typically weaken the dollar. But what happens if higher tariffs are imposed, such as those targeting China? Chris Meissner from Santa Clara University believes, “The Chinese yuan will appear weaker relative to the US dollar, which will strengthen the dollar to offset part of the direct tariff impact.”
Olivier Jeanne, a professor at Johns Hopkins University, stated, “A stronger dollar benefits American consumers by lowering the cost of imports.” He added, “It is also advantageous for American tourists traveling abroad when the dollar is strong.” However, he cautioned that this is detrimental to the export sector, as a stronger dollar means other countries would need more of their own currency to purchase American goods.
With approximately two weeks remaining until Trump’s inauguration, the threats surrounding his proposed tariff plans have already introduced stress into the global trade system and created uncertainties regarding inflation and interest rate trends.
EURUSD POSSIBLE TRADE SETUPPotential Trade Setup on EURUSD
The price broke out of a strong intraday support zone, although the Trend remains bearish and the set Trendline keeps the price on the lower part of the market.
The price is developing, and I am waiting for a retest of the previously broken support and used as resistance before I look for a SHORT trade.
A BUY opportunity is at the top above the weekly Low at 1.04480.
You may find more details in the chart!
Thank you and Trade Responsibly!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Bullish bounce?BTC/USD is falling towards the pivot which acts as an overlap support and could bounce to the 1st resistance that has been identified as a pullback resistance.
Pivot: 95,231.13
1st Support: 93,172.83
1st Resistance: 98,951.90
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Falling towards pullback support?Ethereum (ETH/USD) is falling towards the pivot which is a pullback support and could bounce to the 38.2% Fibonacci resistance.
Pivot: 3,314.10
1st Support: 3,213.30
1st Resistance: 3,501.74
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Opulous ($OPULUSDT): Awaiting Entry for 100% + Upside in MusicFiI spend time researching and finding the best entries and setups, so make sure to boost and follow for more.
**Opulous ( KUCOIN:OPULUSDT ): Awaiting Entry for Promising Upside in MusicFi**
Trade Setup:
- Entry Price: $0.06486 (Pending Activation)
- Stop-Loss: $0.04369
- **Take-Profit Targets:**
- **TP1:** $0.14686
- **TP2:** $0.24000
**Current Price:** $0.07048
Fundamental Analysis:
Opulous ( KUCOIN:OPULUSDT ) is leading the way in MusicFi by merging decentralized finance (DeFi) with the music industry. Through its platform, artists can mint music as NFTs, allowing fans to directly invest in their music and share in royalty streams. This revolutionary approach is disrupting traditional music rights management and has garnered significant attention from artists and investors alike.
Recent developments, such as new artist partnerships and an increase in platform adoption, underscore Opulous’s potential to drive innovation in the blockchain space.
Tokenomics Overview:
- **Total Supply:** 500 million tokens.
- **Utility:** Facilitates music NFT transactions, staking, and royalty payments.
- **Growth:** Rapid adoption within the MusicFi niche, attracting both artists and investors.
Technical Analysis (4-Hour Timeframe):
- Support Levels: $0.06500 is a strong support zone near the anticipated entry price, aligning with previous price consolidation levels.
- Resistance Levels: $0.07500 is the first key resistance, with further resistance at TP1 ($0.14686).
- Moving Averages:
- 20-EMA: $0.07000
- 50-EMA: $0.06700
- Relative Strength Index (RSI): Currently at 57, signaling neutral momentum, providing room for further upside.
Market Sentiment:
Interest in MusicFi continues to grow, with Opulous at the forefront of this trend. The unique proposition of allowing fans to invest in music royalties via NFTs is driving increased market interest. Community engagement remains strong, reflecting confidence in the project’s long-term potential.
Risk Management:
The stop-loss at $0.04369 provides protection against significant downside risk, while the take-profit targets offer excellent upside potential. TP1 represents a **126% return**, and TP2 offers a potential **270% gain**, making this trade highly attractive for mid- to long-term investors.
Key Takeaways:
- Opulous is uniquely positioned to capitalize on the growing MusicFi trend, blending blockchain with real-world applications in the music industry.
- Awaiting a pullback to $0.06486 for an optimal entry point into this promising setup.
- The trade offers a compelling risk-to-reward ratio, ideal for swing traders and long-term holders.
When the Market’s Call, We Stand Tall. Bull or Bear, We’ll Brave It All!
EURUSD Buy signal on (4h)EURUSD is trading inside a Channel Down and is pulling back on the (4h) time frame after a double top near the MA200 (4h).
The crossing under the MA50 (4h) is following a pattern similar to December 2nd, which turns it now into a buy opportunity.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 1.04500 (MA200 4h and under the +2.88% move that December did).
Tips:
1. The RSI (4h) is approaching the 40.00 level of the December 2nd bounce. Additional buy signal.
Please like, follow and comment!!
Bearish drop?XAG/USD is reacting off the resistance level which is a pullback resistance and could drop from this level to our take profit.
Entry: 30.16
Why we like it:
There is a pullback resistance level.
Stop loss: 30.68
Why we like it:
There is an overlap resistance level that is slightly above the 50% Fibonacci retracement.
Take profit: 29.53
Why we like it:
There is an overlap support level that lines up with the 50% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bearish reversal off 61.8% Fibonacci resistance?USD/CAD is rising towards the resistance level which is a pullback resistance that lines up with the 61.8% Fibonacci retracement and could drop from this level to our take profit.
Entry: 1.4390
Why we like it:
There is a pullback resistance level that lines up with the 61.8% Fibonacci retracement.
Stop loss: 1.4467
Why we like it:
There is a pullback resistance level.
Take profit: 1.4467
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Bullish bounce off 50% Fibonacci support?EUR/USD is falling towards the support level which is a pullback support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 1.0335
Why we like it:
There is a pullback support that aligns with the 50% Fibonacci retracement.
Stop loss: 1.0265
Why we like it:
There is a pullback support level.
Take profit: 1.0442
Why we like it:
There is a pullback support level.
Enjoying your TradingView experience? Review us!
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
CRUDE OIL TO HIT $160?! (UPDATE):It's been a few months since I've done an update on my Crude Oil analysis, as Oil prices have been stagnant & consolidating. But in the past week & a half we've seen a huge push to the upside, with Oil now sitting at a 3 month high!
Currently up 700 PIPS (10.40%) in profit from our support zone. Long term I still remain bullish from a technical standpoint. Also, we already know from a fundamental standpoint, the puppet Donald Trump will be used to worsen geopolitical situations globally, weather that's in the Middle East or with China & Russia.
XAUUSD POSSIBLE TRADE SETUPPotential Trade Setup on XAUUSD
The price broke out of a strong intraday resistance zone and a long-used Trendline but we have yet to retest the broken structure.
The price is developing, and I am waiting for a retest of the previously broken resistance and used as support before I look for a LONG trade.
You may find more details in the chart!
Thank you and Trade Responsibly!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
EURUSD, swing of the year.FOREXCOM:EURUSD / 1D
Hello Traders, welcome back to another market breakdown.
EURUSD is showing strong bearish momentum after the dollar index DXY
broke above the 2 years range. However, the price is oversold for now. Hence, instead of jumping in at current levels, I recommend waiting for a pullback into the middle of the range zone for a more strategic entry.
If the pullback holds and sell off confirms, the next leg higher could target:
First Resistance: Immediate levels formed during prior consolidation.
Second resistance: Yearly lows.
Stay disciplined, wait for the market to come to you, and trade with confidence!
Trade safely,
Trader Leo.
Falling towards overlap support?WTI oil (XTI/USD) is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which acts as a pullback resistance.
Pivot: 72.97
1st Support: 71.51
1st Resistance: 75.22
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Potential bullish rise?The Silver (XAG?USD) has reacted off the pivot and could potentially rise to the 1st resistance which has been identified as an overlap resistance.
Pivot: 29.85
1st Support: 29.30
1st Resistance: 30.70
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Could the Bitcoin drop from here?The price is reacting off the pivot which acts as a pullback resistance that aligns with the 61.8% Fibonacci retracement and could drop to the 1st support.
Pivot: 3,718.97
1st Support: 3,524.81
1st Resistance: 3,834.79
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Levels discussed on livestream 6th Jan 20256th January 2025
DXY: Consolidating along 108.90, could test 108.50 (61.8%) before trading higher again to 109 round number (below 108.50 could test bottom of channel)
NZDUSD: Sell 0.5575 SL 30 TP 60
AUDUSD: Sell 0.6265 SL 30 TP 60
GBPUSD: Wait for reaction at 1.25 round number resistance level
EURUSD: Look for rejection of 1.04, Sell 1.0315 SL 30 TP 90
USDJPY: Sell 157.65 SL 50 TP 150
EURJPY: Buy 163.55 SL 40 TP 120
GBPJPY: Sell 196.40 SL 50 TP 150
USDCHF: Look for reaction at bottom of channel 0.9060 or support level 0.9020
USDCAD: Ranging between 1.4335 and 1.4465
XAUUSD: Break 2624 to trade down to 2610 (bullish trendline)