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Decoupling trade in the making gets a Like from ProfZero! 👍🏻INVESTMENT CONTEXT In a remarkably divergent trade, on May 19 BTC regained USD 30k threshold and many Layer-1 currencies (ADA, ETH, XRP) moved up at least 4% while the S&P 500 headed towards the 7th consecutive week in red U.S. President Joe Biden is touring Asia in an attempt to launch the Indo-Pacific Economic Framework (IPEF), countering criticism that American interest in the region had mainly security components German industrial goods producer prices rose by 33.5% in April, setting a new record on the back of sharp increases in energy, metals and food prices Russia will increase its military presence in the West of the country, in response to "increased military threats" posed by Sweden and Finland joining NATO PROFZERO'S TAKE ProfZero confesses a quite puzzled feeling after May 19 trading day. What started deeply in the red staged a rebound towards the end of the session, as tech stocks, and in particular blockchain equities (CoinBase, COIN; MicroStrategy, MSTR; RobinHood, HOOD) all surged at least 4.50% thanks to cryptocurrencies refusing to sideline in bear territory. ProfZero already noticed an interesting decoupling trade between the battered blockchain space and the market at large - yet prudence calls it too early to see a harbinger of a broader risk reversal The dramatic 33.5% increase in German producer prices in April reflects how Europe's leading economy struggles to keep up with soaring energy and commodity prices as well as growing supply bottlenecks caused by the war in Ukraine and Chinese lockdowns. ProfZero can't help but to see how a portion of such greater costs is destined to be passed on to consumers - thus inevitably putting pressure on household consumption in Q3-Q4 ProfZero is not surprised about Russia's ambivalent reception of Sweden and Finland joining NATO - after all, on January 30, Nikolai Patrushev, the secretary of Russia’s security council, said "We do not want war. We don’t need it at all". True, in fact - no one needed that
CME:BTC1!
by ProfZero
OGNUSD Is One Of The First Coins That Shows Potential BottomHello Crypto traders and investors! Today we will talk about cryptocurrency Origin Protocol (OGNUSD), in which we see quite interesting bounce after we noticed a completed A-B-C correction from all-time highs. Origin is a protocol for creating sharing economy marketplaces using the Ethereum blockchain and IPFS. It empowers developers and businesses to build decentralized marketplaces on the blockchain. Its protocol makes it easy to create and manage listings for the fractional usage of assets and services. Sharp rebound from projected 0.23 support level can be first signal for a bullish reversal, especially if we consider that both legs A and C equaling 86% sell-off. However, keep in mind that Crypto market is generally still bearish, there are only few ALTcoins with such big bounce, so OGN has to stay strong for a bullish view, we may just see some short-term pullbacks. Keep also in mind that real bullish confirmation for OGN is only above 1.5 region, but only if it manages to stay above that 0.23 level. Manage your positions wisely! If you like what we do, then please like and share our idea. Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
BINANCE:OGNUSDLong
by ew-forecast
2
FB - Meta Is Showing What Is About To Come In The Stock MarketIn case you've been living under the rock, on 3rd of Feb. at the market close FB has fallen instantaniously for 20% and is since then continued to drop. I am not gonna focus on the news even though they did play a role here. Something had to happen somewhere between those large market cap stock and it looks like FB is leading the crash. Just so you know i don't believe the entire stock market is bearish yet, just some of the large market caps as this is where long term investors start to take profits first or rotate the money into still undervalued stocks like F (ford) or PTON for example, that haven't had their true bull run yet. Trying to count elliott waves i think we are close to the bottom which should come somewhere in the upper middle of the 2017-2020 trading range ($180-210). After that a expect typical ABC retracement of some sort back to the 70% of the initial fall to $320 price area (.702 fib. retr. lvl.) before continuing the bearish journey. I am not a financial advisor so non of this should be taken as a financial advise. Be well. NASDAQ:FB
NASDAQ:META
by AVA37
5
BTC following MAY 2021 DumpWhat if chart following May Dump. The match between dumps is significant. Now we are in parallel downtrend channel which gonna be lost soon. We may see bottom at 38 000$, thanks for support level from ALSO MAY DUMP. Every PUMP precedes by insignificant DUMP of approximately 5% in this case. There is also present magical dates of 20-29 when most of pumps took place (just kidding, but statistics). The date of pump January 27 is approximation based on previous years pumps. BTC RSI indicator of week timeframe shown a deep, which occurred only several times for bitcoin (JUST BEFORE GROWTH) RSI value shows that BTC is OVERSOLD. What do you think?
Long
by EncryptedSha256
The Wonderful Patterns of BitcoinBitcoin is oversold and sellers are EXHAUSTED. Bitcoin is showing a swing high, swing low pattern that is similar to beginning of 2021 and mid-2021. This makes it so hard to be bearish... Bitcoin's technical indicators, on-chain analytics, historical data, and short-term fundamental outlook is becoming increasingly bullish by the day. WHAT HAS HAPPENED OVER THE PAST YEAR? - Bitcoin rallied ( swung high ) to $40K Q121 - When that happened, the market was in intense euphoria and extreme greed - Then, it fell to $30K (causing fear)... ...Shortly thereafter, Bitcoin soared to new ATHs- $64K! - More recently, Bitcoin rallied ( swung high ) to ~$52K in Q3 of 2021 - Once more, causing extreme greed at the high of the swing - Now, it has fallen to $40K (causing fear) - Bitcoin has retraced to $40K ( prices not seen since last year! ) and market sentiment is overall bearish and there is extreme fear and panic So, will history repeat itself? Will Bitcoin soar to new ATHs? The pattern we are looking at it is very similar... IMO, We could see Bitcoin grind down to $40K, and then rally to T-1 ($58K) and swing low again to $40-44K region before rallying to new ATHs ($90K price target). T-2 ($69K) would reclaim prior ATHs and if it flips to support, Bitcoin will rocket towards $100K. If it does that... - The BROADER MARKET SUPPORT is a key TL that will need to hold if bulls want to see new ATHs - Falling below The Broader Market Support will break the bullish market structure and cause a bear market - RSI signaled bearish divergence in the beginning of 2021 and Q421... something to watch* - RSI was choppy during the slow grind down to ~$30K in summer - MACD will show a bearish cross into a final rally and then it will be met with resistance at ATHs and sell off into the bear market *if RSI forms bearish divergence, it would be smart to start to unload profits... Bitcoin is going to shock the world by recovering to an unprecedented rally to new ATHs. The patient will be rewarded. HODL! Good Luck, - Mr. Bitcoin Baron
BITFINEX:BTCUSDLong
by TheJonesPortfolio-100T
1 INCH is hitting the bottomRecently I've been looking for metaverse projects so I haven't covered much DeFi, however 1INCH is bottoming if it hasn't already bottomed (and not just 1INCH, new signals will follow). I assumed the worst case scenario which is that bottom of possible retracement was that of last July's dump, in that case current price is currently passing below 0.786 Fib and hitting a strong support area (purple rectangle) which has already worked in the past with volumes similar or bigger of the current one. Assuming price plummets through this area next stop is 1 Fib line. However various indicators presents bullish DIV although here I show you only the SMI. If you wanna enter 1INCH I think this is the moment at which you've to pay attention (and looking at my signals :D ), keep an eye on price, if we don't go below that support zone you can buy at this level. If we go below wait until we touch 1 Fib retracement's line. If we do go down split your buys because once we touch the lower support you never know if there's a capitulation behind the corner. Good Luck
Long
by Shotokhan
UPST bounceUPST i had been tracking as a risk off play so alot of people have been selling the positions especially with high inflation scares however i am happy to see it finally bounce off the 200MA cloud on my chart i will keep watching to see it build up from here before i go long with shares and options as this would be a good entry point if it starts to consolidate here, when I first reviewed this play i was already bullish and i published that video on youtube as it's great at mitigating risk while still producing solid rev as you can see from earnings reports it has been beating estimates out of the gate
NASDAQ:UPSTLong
by Stock_Hustle21
It's almost $ALGO time$ALGO has been consolidating for weeks now, since the mid-september move after hitting 2.50. The 1.55 area has shown strong support after being tested multiple times in late September. Each time on less and less volume, indicating that selling pressure is waning. Price is currently bouncing off its 50EMA and the bollinger bands are tightening. I still think we could see one more retest of that 1.55 area but if price breaks its downtrend line then my gut might be wrong. RSI is peaking above its short term downtrend line and the MACD is a few days away from a crossover. Keep your eye on this one.
COINBASE:ALGOUSDLong
by Drewsified
2