EvgenCapital

EvgenCapital

Overview: The FRED:SP500 experienced another day of indecisiveness. However, for the first time during this established range, it closed in red for two consecutive days. NASDAQ:QQQ followed a similar pattern. Both indices showed higher volume than the previous day, confirming the downtrend. Buckle up for the opening price on September 3rd (Monday is Labor Day...

EvgenCapital

Overview: The FRED:SP500 gave us another red candle on Thursday, erasing Wednesday's gains. It has been accumulating in this zone for a week, unfortunately drawing a longer lower wick. The effects of the September sell-off are starting to become more evident. NASDAQ:QQQ confirms our concerns, as its recent high failed to reach the previous high and is now...

EvgenCapital

Overview: The bull trap has closed, with BINANCE:BTCUSD falling 5.29% on Tuesday. Unfortunately, the bulls couldn't hold the W range of 63k-64k, and we've now dropped back into the D range established after the August 5th recovery. We spent three weeks recovering, and now the fourth week is starting to resemble July 29th, when we began a Sunday night sell-off...

EvgenCapital

Overview: The FRED:SP500 closed Monday with a red candle, erasing last week’s Friday gains. Durable goods orders were reported today, showing the highest increase since July 2020. This indicator reflects the amount of new orders placed with manufacturers for durable goods expected to last at least three years, such as automobiles, appliances, electronics, and...

EvgenCapital

Overview: As we begin the last week of August, we might be heading into a very turbulent period. On one hand, BINANCE:BTCUSD hasn't even broken its previous bull run's all-time high when adjusted for inflation. Neither the halving nor ETF demand was enough to push crypto higher, and now we have some altcoins like BINANCE:AVAXUSD trading 30% below their...

EvgenCapital

Overview: Wow, what a 24 hours it has been. At one point, BINANCE:SUIUSD was up 21.6%. Yesterday, we mentioned that "some long positions can be taken with a properly tight SL" once a new trading range was established. On August 21st, we wrote, " BINANCE:ARUSD , BINANCE:APTUSD , BINANCE:TAOUSD showed better price action in the last couple of days. They...

EvgenCapital

Overview: The S&P 500 corrected by 1.17%, as more turbulence is expected in its attempt to break the all-time high (ATH). The chances of a 1.73% rise on Friday are slim, but we still have one more week of a relatively calm August to set some bull traps. Thursday saw a correction for BTC, but it managed to hold the crucial $60.2 level, attempting to break it three...

EvgenCapital

Overview: There were no surprises in the Fed’s meeting minutes. "Officials were confident about the direction of inflation and are ready to start easing policy if the data continues to cooperate." However, too many traders are interpreting this as “on September 18th, my $stonks go up.” Don’t be one of them. VANTAGE:SP500 posted another green candle, but...

EvgenCapital

Overview: For the first time in the last six trading days, the S&P 500 closed with a red candle (-0.20%), even though its wick extended higher than the previous trading day. The key macroeconomic event to watch this week is the release of the "Minutes of the Fed's July FOMC meeting" on Wednesday, which will provide insights into the discussions and debates among...

EvgenCapital

Overview: The weekend passed without significant CRYPTOCAP:BTC price movement, holding the daily level at $58.2k. On Monday, bulls rallied, managing to push the price up to $58.4k, signaling a potentially bullish week ahead. This renewed buying interest could be attributed to the VANTAGE:SP500 closing with a strong +1% gain, reminding traders of the generally...

EvgenCapital

Overview: The cryptocurrency market is currently in a cautious phase. Weekends typically see minimal price swings, though Sunday evenings can bring volatility. Declining open interest suggests a lack of confidence, with traders closing positions and exiting the market. The August 5th liquidations also pushed remaining traders to leave, further reducing market...

EvgenCapital

Overview: The TradFi week is over, and the VANTAGE:SP500 is now just 1.86% away from its all-time high, nearly recovering from the impact of Japan's rate increase. However, CRYPTOCAP:BTC hasn't experienced the same positive price action. It seems big money is feeling more confident in U.S. blue chips than in speculative assets like Bitcoin. So, who will push...

EvgenCapital

Overview: Lord Jerome reported 227,000 jobless claims, slightly below the expected 234,000. Additionally, almost all other macroeconomic data points to a growing and improving economy. July U.S. retail sales were three times higher than anticipated, coming in at 1% versus the expected 0.3%, suggesting strengthening consumer confidence, which has risen above 0.7%...

EvgenCapital

Overview: The market is currently at a stalemate, which isn’t surprising after last week’s 15% crash. Since 2009, CRYPTOCAP:BTC has only experienced a drop of more than 15% around 10 to 15 times. We’re receiving contradictory macroeconomic news: on one hand, predictions of a long-awaited recession in the U.S. are surfacing, with major corporations reporting...

EvgenCapital

Overview: CRYPTOCAP:BTC broke out from the daily levels range after surpassing 60.2k but failed to break 61.3k. For the 4th time, it has attempted to reach the Bollinger Bands' moving average (BB MA) but fell short by 1.57%, 1.32%, 0.67%, and 0.69%. The more it fails to break this level, the less likely it is to succeed, unless some big whales step in to...

EvgenCapital

Overview: The first day of the trading week is over, with the market wobbling between two daily levels. The market ( CRYPTOCAP:BTC ) could go in either direction—either completing a correction up to the Bollinger Bands' moving average (BB MA) at 61.8k or correcting down to at least 55.9k or possibly touching the lower band at 53.8k. Since the upper weekly line at...

EvgenCapital

Overview: Nighttime in the U.S. market. Friday ended down, Saturday was flat, and Sunday saw another decline. The week closed in the green but formed a large star candle, indicating uncertainty in the market following the previous week, though volatility was significant. We remain within the range defined by two W levels, with minimal and almost non-existent...