Bitcoin appears to be flagging on the 4hrPlease tell me if you disagree on the flag especially!
Bitcoin has been the best performing asset of the year, and is certainly challenging the hegemonic order of global finance. What a blessing to be in this bull market guys!
When compared against all legacy financial markets such as Gold , Spiders, Diamonds and the Q's it has outran them all.
We are talking about a stunning year-to-date gain of 148%!
Here are some key concepts to consider:
• Institutional Adoption - MicroStrategy , Square, PayPal (4% of the total supply of bitcoins now reside on corporate balance sheets)
• Paypal and Square treating clients like a bucket shop holding the actual asset for them and only enabling clients to hold. Again good for the price as supply is trimmed down as price bids up.
• CME Group advised open interest on Bitcoin derivatives has reached its highest level ever
• Whales will accumulate the underlying asset to "control/manipulate/influence" the price as a few % points will enable them to make the derivatives market & kick the price around
• Retail all at this point sitting in profitable positions encouraging "hodl" culture
• Viewpoint evolving from retail "median of exchange" to institutional store for wealth or engine of wealth as the derivative market becomes popularized
• According to Forbes "60% of the available supply of bitcoin has not moved in the last year and over 40% has not moved in the last two years."
• Bitcoin flooding out of exchanges at the most rapid rate of its history indicating this is camping in long-term wallets
• Google keyword volume for Bitcoin is only 10% of its peak (2017 runup) indicating retail is not driving the relentless volume
• Technicals are all incredibly bullish - moving averages are all pointing straight up at a very steep angle
• Seeing comments on how the RSI is indicating oversold - it is worth touting that oversold conditions can continue on for a very long time
• Macro environment of central banks easing and pushing for higher inflation targets makes this financial product an outlier as it is engineered to increase in value and not inflate away
• The U.S. Dollar Index is down 0.25% Tuesday and continues to be in the doldrums versus a basket of other fiat currencies.
• Articles speculating into the future (after firmer regulation) that Fidelity/ Blackrock /Vanguard some massive player will introduce a low fee passive ETF fund which will require a huge amount of the underlying asset for the fund creation. Similar thought process of why the TSLA price runup with their inclusion into the S&P 500 - forced institutional buyers as they balance out the passive spider funds
• Adoption and regulation of BTC coming however the SEC is already offering clarity (links below)
• Gary Gensler (Former chairman of CFTC) was tapped to lead Biden's financial policy transition team concluded "that XRP and ether should be regulated as securities."
• Fun idea here, but I have seen so much grumbling from gold bugs on how gold is a greater store of wealth. I likewise am a goldbug and continue to accumulate gold as well - worth stating though what happens in a generation from now when we final visit the last frontier and become a space faring race and start mining asteroids? Supply of gold in the future may be remarkably more prevalent than we could possibly imagine.
Am I one of those calling for $100k in price? Well let's target 19k first bulls.
Bullflagpattern
DAX 13224.42 + 0.49 % LONG IDEA * CONTINUATION PATTERNSHELLO EVERYONE
A look at the DAX INDEX from the monthly, weekly & the 4H charts the sentiment is net bullish meaning we might see a break of the historic resistance level 13570.66 and see continuation with the bulls, the index is currently trading is a bull flag which could signal continuation to the upside and momentum favors continuation, but looking at the index its overbought on most indicators meaning we might see a pull back before continuation to the upside so trade will be triggered once we break above of the bull flag.
As always higher time-frames for direction and whats happening in the overall chart and lower time-frames for entry opportunities.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET THE WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
RISK-MANAGEMENT
PERIOD - SWING TRADE
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If this idea helps with your trading plan kindly leave a like definitely appreciate it.
ROKU LongBull Flag breakout + revisit trend line
Entry 216
Stop 195
Possible Target:
FIB Ext. 1.6 = 265
ABC pattern: 280
FIB Ext. 2.4 = 300
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
14.400& monthly close for BTC- October 20I ussually don't do such short analysys, but today i think we will close around that number. Let's see... On the wider timeframe BTC is in a formation of "megaphone", i belive. Inside that it has broke out of the symetrical triangle and succsessfully retested a breakout. It is now in formation of a bullflag, which will take us hopefully to mentioned number. Sorry bears ;) Well, let's ee...
Cheers!
EURUSD levels that I'm watching for next weekStill in sideways to down trading range forming a potential bull flag/descending wedge pattern. Very curious to see how the market would react to the trend line support of this broad channel. I think a test of breakout level 1.1500 is incoming. Note that market could also proceed to test 1.13700 later which is another another breakout level.
Biocon - BULLISH FLAGBiocon has bullish flag pattern but might face resistance between 428 to 441 as this is supply zone at daily chart and it need to be broken for lifetime high.472.45 is first target ... It might reverse and test demand zone which is at 412 ,418 is daily support. Safe trader can buy above 441 or can buy till 412.
Tan after very strong rises, at the beginning of a break again!AMEX:TAN
Solar & Clean Energy ETF - This is undoubtedly one of the goals the world is striving for right now
Has made a +33% since the last breakout - in a huge uptrend!
T.A SETUP - Bull flag + (mini) V pattern
It has a lot more to go up if you look at the monthly chart
Symmetrical Triangle Forming in Sherwin-Williams NYSE:SHW is forming a symmetrical triangle. This is a name with lots of momentum as it has been going up consistently for the past few months. Look for long entries with more reward than risk. First target would be previous highs, 2nd target is all time highs. Refer to the stop loss level in the chart.
A very nice bull flag forming, look for a bullish break out Nice bull flag formation on TSX:PLC . Look for longs on a break out or a break out + retest. Stop loss would be under $26 (support is just above that) and the minimum price target for a long would be around $30 where the previous swing high was. The ADX indicator is still red, if it can turn green before a break out, that would be even stronger.