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Education
by carripayvideos1988
1
ETH Daily TA BearishETHUSD daily guidance is cautiously bearish. Recommended ratio: 5% ETH, 95% Cash. *SELL-OFF WATCH. Cryptos and Equities are getting hammered as the effects of tighter monetary policy are starting to materialize in markets and the realization that the Federal Reserve may raise the funds rate beyond their 5.1%-5.2% projected terminal rate is a very real possibility. San Francisco Fed President Daly said today that her inflation projection has gone up and that she thinks we're still far away from the Fed's price stability goal ; this matches Fed Chair Powell's statement, during Wednesday's FOMC press conference, about markets and the economy not having felt the full effects of tightening yet. New York Fed President Williams said today that the still tight labor market may warrant a higher terminal funds rate than the Federal Reserve has projected (>5.1%) . The latest GDPNow US Q4 GDP estimate is 2.8%, down from 3.2% on 12/09 . All eyes are still on CZ and Binance as he appears to be saying the same things SBF was saying about FTX, about Binance . Srutiny over whether or not Binance is actually solvent is starting to heat up in the midst of a battle of words with Kevin O'Leary (who continues to solidify his appearance as a fraudulent celebrity by defending FTX and SBF) . A class-action lawsuit was filed against Silvergate (a Federal Reserve member bank that supports cryptocurrency firms) for their involvement in transferring funds from FTX to Alameda Research , Silvergate's potential insolvency is a bearish catalyst that has yet to fully materialize in markets so it's important to keep track of this one. Russia continues to shell Ukraine's power grid infrastructure in attempt to push Ukraine into submission as the coldest of the winter months approaches. DXY, US Long-Term Treasurys, Metals, Agriculture, JPYUSD and HSI are up. Cryptos, US Equities, US Equity Futures, Short-Term US Treasurys, Energy, VIX, CNYUSD, GBPUSD, EURUSD, N100 and NI225 are down. Key Upcoming Dates: US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. * Price is currently trending down at $1196 after being rejected by the upper trendline of the descending channel from November 2021 + the 50MA at ~$1310 as resistance. Volume remains Moderate (High) and is on track to favor sellers for a third consecutive session if it closes today's session in the red; Price is currently breaking down below the VP Point of Control at $1265. Parabolic SAR flips bearish at $1152, this margin is bearish at the moment. RSI is currently trending down at 42 as it approaches a retest of the lower trendline of the Symmetrical Triangle from November 2018 at 38 as support. Stochastic remains bearish and is currently testing 33 support. MACD remains bullish and is currently on the verge of crossing over bearish at -3, if it falls below -3 then it would be a bearish crossover; the next support (minor) is at -46. ADX is currently trending sideways at -21 and is beginning to form a soft trough as Price continue to see selling pressure, this is mildly bearish at the moment. If Price is able to bounce here then it will likely retest $1270 minor resistance . However, if Price continues to fall here, it will likely retest $1k minor support for the first time since July 2022. Mental Stop Loss: (two consecutive closes above) $1270.
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA Neutral BullishBTCUSD daily guidance is neutral with a bullish bias. Recommended ratio: 52% BTC, 48% Cash. *Markets rallied on hopes for a lower US November CPI tomorrow morning and if it's lower than in October expect for a continued rally in Cryptos and US Equities; however, if it's higher then a sharp downturn is likely. The last FOMC rate hike of 2022 will be following the day after on 12/14; if it's 50bps then a short-term rally is likely, whereas a 75bps rate hike would likely be bearish. SBF was reportedly finally arrested today in the Bahamas after pulling out from his agreement to testify to US Congress , he will be held in the Bahamas until a formal request for US extradition is made. The EU has placed sanctions on Iran for supplying Russia with drones for their attack on Ukraine in addition to their violent response to social protests . Cryptos, US Equities, Commodities, VIX, Short-Term US Treasurys, GBPUSD, EURUSD, JPYUSD and NI225 ended today's session up. DXY, Long-Term US Treasurys, US Equity Futures (aside from NASDAQ), CNYUSD, HSI and N100 finished down. Key Upcoming Dates: US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; Next GDPNow US Q4 GDP estimate 12/15; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. * Price is currently trending sideways at $17100 for a twelfth consecutive session as it approaches a retest of the 50MA at ~$17800 as resistance. Volume finished today's session Moderate (moderate) and broke a three day streak of seller dominance. Parabolic SAR flips bearish at $15700, this margin is neutral at the moment. RSI is currently trending down slightly at 50, the next resistance is the upper trendline of the descending channel from January 2021 at ~58 and the next support is at 42.41. Stochastic remains bearish and is currently on the verge of crossing over bearish at 88.29 support. MACD remains bullish and is currently trending sideways at -101, it's still technically testing -232.42 resistance. ADX is currently trending down slightly at 24 as Price continues to trend sideways, this is neutral at the moment. If Price is able to breakout then it will have to get above the 50MA at ~$17800 as resistance before it can potentially test $19417 resistance . However, if Price breaks down here, it will likely retest the local low of $16200 as support before potentially retesting the uptrend line from March 2017 at $15800 as support . Mental Stop Loss: (one close below) $16800.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Cautiously BearishETHUSD daily guidance is cautiously bearish. Recommended ratio: 35% ETH, 65% Cash. *Risk-On markets continue to get shellacked by a combination of: expectations of rising central bank interest rates through the first half of 2023 (and perhaps beyond) and continued supply chain disruptions due to more sanctions on Russia (which influences BRICS and OPEC+) and a massive reduction in US/China trade that is currently underway. Turkey has begun to ask for proof of insurance from Russian oil tankers now that Western insurers have been stepping away, this has reportedly caused a bit of a backlog in the Bosphorus Straits. Any earnings reports are essentially a non-factor considering that many of the forecasts point to decreases in top and bottom lines across many of the heaviest weighted industry sectors for Q4 and 2023. Putin said today that the risks of nuclear war are growing as needs for Russia to potentially use them as a "deterrent" are also growing . I really hope that this guy is taken out from inside, anybody who makes these kinds of threats that could potentially wipe out a majority (if not all) of their own people in response does not deserve to be a country's leader. Russian people should be just as scared as Ukrainians if this is the route Putin decides to take. VIX, EURUSD, GBPUSD, JPYUSD, CNYUSD, Metals, Natural Gas, DJI Futures and Agriculture (mixed). DXY, US Equities, US Equity Futures (mixed), US Treasurys, Cryptos, NI225, N100 and HSI are down. Key Upcoming Dates: US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. * Price is currently trending down at $1232 and risks losing $1270 minor support if it closes below $1230 in today's session. Volume is currently Moderate (low) and on track to favor sellers if it closes today's session in the red, it has been alternating between buyer and seller dominance in the second largest supply/demand zone over the past week. Parabolic SAR flips bearish at $1085, this margin is mildly bearish at the moment. RSI is currently trending down at 47 and fell back into the Symmetrical Triangle (ST) from February 2020 in today's session, the next support is the lower trendline of the aforementioned ST at ~39. Stochastic remains bearish and is currently trending down at 68, the next support is at 62. MACD remains bullish and is currently forming a soft peak as it begins to trend down at -11, it would have to fall below -24 to crossover bearish at the moment. ADX is currently trending down at 28 and is beginning to form a soft trough as Price continues to see selling pressure, this is mildly bearish at the moment. If Price is able to bounce here and trade back above $1270 minor support then it will likely aim to retest the 50MA at $1329 as resistance (which should coincide with the upper trendline of the descending channel from November 2021. However, if Price continues to fall here, it will likely retest the local low of $1100 as support before potentially retesting $1000 minor support for the first time since July 2022. Mental Stop Loss: (one close above) $1270 .
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA Neutral BullishBTCUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% BTC, 40% Cash. * SUNDAY SCARIES WATCH . Cryptos are relatively flat with a bit of upside as we get halfway through the weekend. With no really important economic data or events happening until CPI on 12/13 and the last FFR hike on 12/14, we could see a nice little run in Equities and Cryptos this upcoming week. Key Upcoming Dates: US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. * Price is currently forming a Bull Flag pattern after breaking the previous Ascending Triangle pattern as it trends sideways with a downward tilt at $16974. Volume has been shrinking and alternating between buyer and seller dominance for the previous five sessions, this is indicative of an impending breakout or breakdown. Parabolic SAR flips bullish at $17180, this margin is bullish. RSI is currently trending up at 48 after forming a soft trough at 46, the next resistance is the upper trendline of the descending channel from January 2021 at ~58. Stochastic remains bearish and is currently trending up slightly at 88 as it attempts to form a bullish crossover at 92, it's barely clinging on to the 'bullish autobahn zone' (above 90). MACD remains bullish and is currently testing -232 minor resistance. ADX is currently trending down at 37 as Price is trending sideways, this is neutral at the moment. If Price is able to push up from here then it will likely test the 50MA at ~$18300 as resistance . However, if Price breaks down here, it will likely retest the uptrend line from March 2017 at $15800 as support . Mental Stop Loss: (two consecutive closes below) $16600.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Neutral BullishETHUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% ETH, 40% Cash . * The November Unemployment Rate somehow stayed at 3.7%, with Nonfarm Payrolls increasing by 263k ... in the face of ramping layoffs and hiring freezes, this is pretty astonishing. The Federal Reserve has got to be wondering how the job market has remained so resilient with a dramatic slow down in demand due to a shrinking Fed balance sheet and rising federal funds rate. Though it has yet to be seen whether the narrative has changed on a potential slowdown in rate hikes starting on 12/14 (from 75bps to 50bps). The Committee on Agriculture, Nutrition and Forestry held a hearing today on the FTX collapse ; you read that correctly, this is currently the Senate committee most responsible for overseeing Crypto regulation through the independent agency CFTC (which the committee created in 1974 to handle currencies and other nonagricultural assets). SBF is said to have met with the CFTC 10 times in the past 14 months . SBF was interview by Good Morning America on 11/30 and denied improper use of customers' funds ; this will likely come back to bite him in the ass if regulators finally get around to compiling all of the evidence against him. For one, he told Andrew Ross Sorkin at the NY Times DealBook Summit that he first "really knew there was a problem on November 6th" (start at 22 minutes) , which directly contradicts a since-deleted Tweet on 11/07 assuring people that "FTX is fine. Assets are fine" and that it was just a malicious attack by a competitor . Secondly, he claims to have no idea how his parents were listed on the deed for a $16.4m property in the Bahamas that was intended for FTX staff . US House Rep Maxine Waters candidly invited SBF to participate in the US House Committee on Financial Services hearing on 12/13 . US Treasury Bills, US Short-Term Bonds, Silver, CNYUSD, JPYUSD, GBPUSD and EURUSD are up. DXY, US Long-Term Bonds, US Equities, US Equity Futures, Cryptos, Commodities, VIX, HSI, N100, and NI225 are down. Key Upcoming Dates: US November PPI 830am EST 12/09; US November CPI 830am EST 12/13; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14; US November New Residential Construction at 830am EST 12/20; US Final Q3 GDP Estimate at 830am EST 12/22; US November PCE Index at 830am EST 12/23; UofM Consumer Sentiment Index at 10am EST 12/23. * Price is currently forming a minor Ascending Triangle pattern at ~$1290 as it continues to hover above $1270 minor support, the next resistance is the 50MA at ~$1333. Volume finished today's session Moderate and favored buyers (it has favored buyers in three of the past five sessions), it's currently on track to favor sellers if it closes tomorrow's session in the red. Parabolic SAR flips bearish at $1067, this margin is bearish at the moment. RSI is currently trending down slightly at 53 after being rejected just below 55.31 resistance, the next support is the upper trendline of the Symmetrical Triangle from February 2020 at ~50. Stochastic is currently crossing over bearish at 95 after forming a Double Top at max top (it is still trending in the 'bullish autobahn' so this isn't a bearish indicator yet). MACD remains bullish and is currently trending up at -14, the next resistance is at 27.77. ADX is currently trending down at 31.46 as Price is attempting to push higher, this is mildly bearish at the moment. If Price is able to push higher then it will likely test the 50MA at ~$1333 as resistance before potentially retesting the upper trendline of the descending channel from November 2021 at ~$1375 as resistance . However, if Price breaks below $1270 minor support , it will likely retest ~$1100 as support before potentially retesting $1000 minor support . Mental Stop Loss: (two consecutive closes below) $1269 .
COINBASE:ETHUSD
by dailytaguy
DOGE Daily TA Cautiously BullishDOGEUSD daily guidance is cautiously bullish. Recommended ratio: 65% DOGE, 35% Cash . * CRITICAL RESISTANCE WATCH/PCE INDEX WATCH . All Risk-On assets are rallying off of "dovish" remarks made by Fed Chair Jerome Powell in his speech at the Brookings Institute earlier today . To condense it, he: reiterated the same narrative that inflation has a long way to go before coming down; expects October Core PCE to fall to 5% from 5.1%; said that decreases in rate hikes can start as soon as December; the terminal FFR for 2023 will likely be higher than projected in September's meeting (5%++); and that housing-services inflation should begin to fall in 2023. SBF was interview by Andrew Ross Sorkin who did a rather good job of asking hard questions, and to condense it, SBF denied fraudulent intentions and instead said: lawyers didn't want him to talk; it was failure of risk management; there wasn't enough oversight; he unknowingly comingled user funds; FTX US should be solvent and can process withdrawals immediately; regulations are BS; he takes prescribed "focus" drugs; he donated to both Liberals and Conservatives equally; VOX DM's were a mistake; and that he supports good journalism. Interestingly, he admitted that most journalists are Liberals, so whether he donated equally to both parties is up to debate; though most of his Conservative donations were "dark contributions" . The last Beige Book of 2022 was released today and to condense it: most (if not all) districts expect an economic slowdown in 2023 marked by slowing demand and a tightening labor market. November US Consumer Confidence reported yesterday (11/29) and came in at 100.2, lower than 102.2 in October; with inflation and interest rate hikes expected to continue weighing on markets in 2023. The second US Q3 GDP estimate was reported today and came in at 2.9% vs 2.6% in the first estimate, this is mainly due to upward revisions in consumer spending and non-residential fixed investments. In lighter news, Tim Cook gave Elon Musk a tour of Apple Headquarters and clarified that Apple had no intentions of removing Twitter from the App Store . Cryptos, US Equities, US Equity Futures, N100, NI225, HSI, CNYUSD, JPYUSD, GBPUSD, EURUSD, Metals, Natural Gas and Short-Term US Treasurys are up. DXY, VIX, Oil and Agriculture are down. Key Upcoming Dates: October PCE Index at 830am EST 12/01 ; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14. * Price is currently trending up at $0.106 as it tests $0.112 minor resistance. Volume finished today's session Moderate (high) and is on track to favor buyers for a third consecutive session if it can close tomorrow's session in the green. Parabolic SAR flips bearish at $0.079, this margin is bearish at the moment. RSI is currently trending down and testing the uptrend line from December 2021 at ~61 as support after peaking at 64; if it can bounce here it would imply that the uptrend is still intact. Stochastic remains bullish and is currently trending up at 99 as it approaches a retest of max top (it's currently trending in the 'bullish autobahn'). MACD remains bullish and is currently trending up at 0.0036, the next resistance is at 0.01. ADX is currently trending up at 30 as Price pushes higher, this is bullish at the moment. If Price is able to break above $0.112 minor resistance then it will likely aim to formally retest $0.162 resistance . However, if Price is rejected here, it will likely retest the 50MA at $0.087 as support . Mental Stop Loss: (one close below) $0.095 .
BITTREX:DOGEUSD
by dailytaguy
BTC Daily TA Neutral BullishBTCUSD daily guidance is neutral with a bullish bias. Recommended ratio: 55% BTC, 45% Cash. * SUNDAY SCARIES WATCH . Cryptos are mixed today after numerous Altcoins like DOGE, REN (on rumors of Binance acquisition) and LINK rallied to start the weekend. Billionaire hedge fund manager Bill Ackman reiterated his support for Cryptos and their underlying technology . Yesterday, Vitalik Buterin transferred 40k ETH ($48m) to an unknown wallet and Justin Sun cashed out $58m worth of ETH for unknown reasons . Ukraine is still trying to restore power to major cities while Russia continues to fire missiles onto critical infrastructure. Even with this going on, Ukraine managed to host a summit in Kyiv to promote their "Grain from Ukraine" initiative which will strive to send 60 vessels full of grain exports to countries currently most vulnerable to famine and drought (including Ethiopia, Sudan, South Sudan, Somalia and Yemen). Chinese citizens continue to protest the Covid lockdowns in cities like Urumqi where the lockdowns are ironically contributing to deaths , and this morning officials in Urumqi announced that they will begin to phase out restrictions in "low-risk areas". This is after China reported a third consecutive daily record for new Covid cases . In lighter news, Ben Armstrong is in the Bahamas with intentions of interviewing SBF lol . Key Upcoming Dates: US Consumer Confidence Index at 10am EST 11/29; 2nd BEA Estimate of US Q3 GDP at 830am EST 11/30; Fed Chair Jerome Powell speech at Brookings Institute at 130pm EST 11/30; Beige Book at 2pm EST 11/30; October PCE Index at 830am EST 12/01; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 .* Price is currently trending sideways at ~$16450 as it continues to hover above the uptrend line from March 2017 (~$15600) for a fifth consecutive session. Volume continues to shrink for a sixth consecutive session which is indicative of an impending breakout/breakdown and is on track to favor sellers for a third consecutive session if it closes today's session in the red. Parabolic SAR flips bullish at $17900, this is mildly bullish at the moment. RSI is currently trending sideways at 39, the next resistance is at 42.41. Stochastic remains bearish and is currently trending down at 90 as it approaches a test of 88.29 support. MACD remains bullish and is currently trending up at -705, the next resistance (minor) is at -232. ADX is currently trending sideways at 45 as Price continues to trend sideways as well, this is neutral at the moment. If Price is able to breakout here then it will likely test the 50MA at ~$18670 as resistance . However, if Price breaks down here, it will likely retest the uptrend line from March 2017 at ~$15600 as support . Mental Stop Loss: (one close below) $15600 .
COINBASE:BTCUSD
by dailytaguy
2
ETH Daily TA Cautiously BullishETHUSD daily guidance is cautiously bullish. Recommended ratio: 65% ETH, 35% Cash. * CRITICAL RESISTANCE WATCH . China's refusal to adapt to the reality that the virus they helped introduce to the world likely cannot and will not ever be eradicated weighed on markets yet again in a short trading day for US Equity and Bond markets. TBH I hope there is more upheaval and that Chinese citizens are able to overcome this lockdown battle that is frivolous at best. This may have bled out into Crypto markets but it was rather temporary if it did. Cryptos, Equity Futures, DXY, Long-Term US Treasurys, Gold, Agriculture, N100 and VIX are up. US Equities, Energy, EURUSD, GBPUSD, JPYUSD, CNYUSD, HSI, NI225 and Short-Term US Treasurys are down. Key Upcoming Dates: US Consumer Confidence Index at 10am EST 11/29; 2nd BEA Estimate of US Q3 GDP at 830am EST 11/30; Fed Chair Jerome Powell speech at Brookings Institute at 130pm EST 11/30; Beige Book at 2pm EST 11/30; October PCE Index at 830am EST 12/01; November Employment Situation at 830am EST 12/02; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14. * Price is currently trending up at $1220 as it approaches a retest of $1270 minor resistance. Volume finished yesterday's session favoring sellers and is on track to favor buyers if it can close today's session in the green; it has been shrinking for 5 consecutive sessions now which is indicative of an impending breakout/breakdown. RSI is trending up slightly at 45 as it approaches a test of the descending trendline from February 2020 at 50 as resistance. Stochastic remains bullish and is currently forming a soft peak at 98 as it approaches a test of max top for the first time since September 2022. MACD crossed over bullish in today's session and is currently trending up at -61, the next resistance (minor) is at -46. ADX is currently trending down slightly at 46 as Price is pushing higher, this is mildly bullish at the moment. If Price is able to continue higher then it will likely retest $1270 minor resistance before potentially retesting the 50MA at ~$1343 as resistance which should coincide with the uptrend line from June 2022 (as resistance). However, if Price breaks down here, it will likely fall back to $1100 before potentially retesting $1000 minor support . Mental Stop Loss: (one close below) $1100 .
COINBASE:ETHUSD
by dailytaguy
2
ETHUSD Potential for Bearish Continuation | 24th November 2022On the H4 chart, the overall bias for ETHUSD is bearish . To add confluence to this, price is below the Ichimoku cloud which indicates a bearish market. Looking for a retracement sell entry at 1291.84, where the 38.2% Fibonacci line is located. Stop loss will be set at 1400.48, slightly above where the 61.8% Fibonacci line is. Take profit will be at 1064.49, where the previous swing low is. 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, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
COINBASE:ETHUSDShort
by Rockqet
1
BTC Daily TA Cautiously BullishBTCUSD daily guidance is cautiously bullish. Recommended ratio: 65% BTC, 35% Cash. *Risk-On markets responded positively to the FOMC Minutes today in which most FOMC participants and staff agreed that a 50bps rate hike in December is appropriate and that the odds of a recession in 2023 are quite low at the moment. New Residential Homes sales for November came in at 632k, up 7.5% from October ; this metric is rather interesting considering that 30-year mortgage rates are currently at ~7%. November's S&P US Manufacturing PMI is 47.2, down from 50.7 in October ; this is a 30-month low and signals weakening demand (which is good in the eyes of the Federal Reserve). The UofM Consumer Sentiment Index for November came in at 56.8, down from 59.9 in October . Meanwhile, Russia continues to bombard Ukraine's power grid with missile attacks in efforts to weaken Ukrainians' resolve throughout the winter ; Moldova's power grid is connected to Ukraine's and they are now suffering too as a result. Cryptos, Equities, Equity Futures, Metals, HSI, NI225, N100, CNYUSD, GBPUSD, JPYUSD and EURUSD are up. DXY, US Treasuries, VIX, Energy and Agriculture are down. Key Upcoming Dates: 2nd BEA Estimate of US Q3 GDP at 830am (EST) 11/30; October PCE Index at 830am EST 12/01; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14. * Price is currently trending up at $16600 after bouncing off of the uptrend line from March 2017 at ~$15600. Volume finished High (moderate) in yesterday's session and is on track to favor buyers for a third consecutive session if it can close today's session in the green. Parabolic SAR flips bullish at $18523, this margin is mildly bullish at the moment. RSI is currently trending up slightly at 41 and is beginning to form a soft peak as it approaches 42.41 resistance. Stochastic remains bullish and is currently trending up at 97 as it approaches max top. MACD has just crossed over bullish in today's session at -868 minor support. ADX is currently trending down slightly at 44 as Price is beginning to trend up, this is neutral at the moment. If Price is able to continue up then it will likely test the 50MA at ~$18800 as resistance . However, if Price breaks down here, it will have the uptrend line from March 2017 at ~$15800 as support before potentially breaking down and retesting $13477 minor support for the first time since November 2020. Mental Stop Loss: (one close below) $15500.
COINBASE:BTCUSD
by dailytaguy
ETH Daily TA Neutral BullishETHUSD daily guidance is neutral with a bullish bias. Recommended ratio: 52% ETH, 48% Cash. * BOUNCE WATCH . BlockFi admitted to having significant exposure to FTX (and associated companies) and are considering filing for bankruptcy after the Founder/COO Flori Marquez announced that they had enough liquidity to remain fully operational on November 8th . Liquid Global, a Japanese exchange owned by FTX has paused withdrawals. SALT, a crypto lending firm, has also paused deposits/withdrawals in the wake of the FTX collapse. It's very hard to say how much of the meltdown has been priced in after such a drastic and impulsive drawdown, but it seems premature to think that the spillover from the FTX/Alameda collapse is over. US October PPI increased less than expected, fueling more theories that inflation is subsiding enough for the Fed to slow its pace of rate hikes. Donald Trump just announced he intends to run for US President again in 2024. Cryptos, Long-Term US Treasuries, GBPUSD, EURUSD, Metals, Natural Gas and Equities are up. DXY, VIX, Equity Futures, CNYUSD, JPYUSD, HSI, NI225, Oil and Agriculture are down. Key Upcoming Dates: Fourth GDPNow Q4 GDP estimate 11/16; US October Retail Sales at 830am EST 11/16; US October Building Permits and Housing Starts at 830am EST 11/17; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; October PCE Index at 830am EST 12/01; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 . * Price is currently testing $1270 minor resistance for the sixth consecutive session. Volume remained High (moderate) in yesterday's session and is currently on track to favor buyers for a third consecutive session if it can close today's session in the green; Price is currently testing the second largest VP supply/demand zone on the chart. Parabolic SAR flips bullish at $1522, this margin is bullish at the moment. RSI is currently trending up slightly at 43 after bouncing off of the uptrend line from October 2018 (as support) just above 37 support. Stochastic remains bullish and is currently trending up at 33 after denying a bearish crossover at 31, the next resistance is at 47. MACD remains bearish and is currently forming a soft trough at -46 minor support. ADX is currently trending up slightly at 37 as Price attempts to push higher, this is mildly bullish at the moment. If Price is able to break above $1270 minor resistance then it will likely retest the uptrend line from June 2022 at ~$1340 as resistance . However, if Price is rejected here, it will likely retest ~$1225 as support before potentially retesting $1k minor support . Mental Stop Loss: (one close below) $1225.
COINBASE:ETHUSD
by dailytaguy
DOGE Daily TA Neutral BullishDOGEUSD daily guidance is neutral with a bullish bias. Recommended ratio: 55% DOGE, 45% CASH. * GOLDEN CROSS WATCH . Cryptos experienced the Sunday Scaries today off of rumors that Alameda Research may not be as solvent as expected and Binance CEO CZ announcing that he plans to liquidate Binance's FTT holdings over the coming weeks . Chinese health officials clarified that they aren't easing their Covid-Zero policies amidst a 6-month high in new infections . Crypto, DXY, HSI and NI225 are up while US Long-Term Treasuries, CNYUSD, JPYUSD, GBPUSD, EURUSD and Equity Futures are down. With Republicans looking set to take both the House and Senate on Tuesday (11/08), all eyes will be on CPI reporting this Thursday (11/10). Key Upcoming Dates: Third GDPNow US Q4 GDP Estimate 11/09; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 .* Price is currently retesting $0.11 minor support after retreating from a quick test of $0.16 resistance. Volume has favored sellers for the past two sessions and has been shrinking for the past six consecutive sessions, this is indicative of an impending breakout or breakdown. Parabolic SAR flips bullish at $0.156, this margin is bullish at the moment. RSI is currently trending up slightly at 64 after bouncing off of 63, just above the uptrend line from December 2021, the next resistance is at $0.162. Stochastic remains bearish and is currently trending down at 32 as it approaches 29 support. MACD remains bullish and is currently trending down at 0.0163, if it falls below 0.015 it would be a bearish crossover. ADX is currently beginning to form a soft peak at 53 as Price is attempting to push higher, this is still bullish at the moment; however, a reversal to the downside in ADX accompanied by Price appreciation would be bearish. If Price is able to defend $0.11 minor support then it will likely retest $0.14 as resistance before attempting to formally test $0.16 resistance . However, if Price breaks down below $0.11 minor support, it will likely test $0.0815 support . Mental Stop Loss: (two consecutive closes below) $0.11.
BITTREX:DOGEUSD
by dailytaguy
ETH Daily TA Neutral BearishETHUSD daily guidance is neutral with a bearish bias. Recommended ratio: 40% ETH, 60% Cash. * CRITICAL RESISTANCE/SUNDAY SCARIES WATCH . Cryptos are struggling to keep the bullish momentum going over the weekend as the post-FOMC rally (fueled by a robust October Jobs Report) tries to carry over into next week's big CPI report on Thursday (11/10). Chinese President Jinping stated the obvious Friday , that the world should do their best to avoid nuclear war; he did this without mention of Russia. Key Upcoming Dates: Third GDPNow US Q4 GDP Estimate 11/09; US October CPI at 830am EST 11/10; UofM November Consumer Sentiment Survey at 10am EST 11/11; Russia/Ukraine Grain Deal Expiration on 11/19; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30; Last FOMC Rate Hike Announcement of 2022 at 2pm EST 12/14 .* Price is currently testing the upper trendline of the descending channel from November 2021 as resistance, which coincides with the 100MA, at ~$1650; both resistance levels are just below $1711 minor resistance, hence why this is a critical juncture. Volume was Moderate (moderate) in yesterday's session and ended a two day streak of buyer dominance by finishing in the red. Price has broken above the VP POC and is now trading in the third largest supply/demand zone on the chart. Parabolic SAR flips bearish at $1520, this margin is mildly bearish at the moment. RSI is currently forming a trough as it trends sideways at 65, just above 63 minor support. Stochastic remains bullish for a second consecutive session and is currently trending up at 73, the next resistance is at 81. MACD is currently forming a soft peak at ~73, if it falls below 57 it would be a bearish crossover. ADX is currently trending up slightly at 31 as Price is attempting to push higher, this is mildly bullish at the moment. If Price is able to breakout above the upper trendline of the descending channel from November 2021 + the 100MA at ~$1650 as resistance , it will have to get above $1711 minor resistance to confirm that it has broken out of the year-long descending channel. However, if Price is rejected here, it will likely retest the local low of ~$1500 as support before potentially retesting $1427 support . Mental Stop Loss: (two consecutive closes above) $1711.
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA BullishBTCUSD daily guidance is bullish. Recommended ratio: 90% BTC, 10% Cash. * SUNDAY SCARIES WATCH . Cryptos are up with a few in rally-mode this weekend; DOGE is currently up 50% in the past 24 hours and rose as much as 80% in today's session and SHIB (riding on the coattails of the DOGE rally) and is currently up 35% in the past 24 hours. This likely has to do with Elon Musk's finalized purchase of Twitter for $44b and hopes of Twitter incorporating some kind of support for Dogecoin on their platform. It has yet to be seen if other altcoins are set for similar rallies but if they do, it'd be safe to say that it'll probably influence FOMC members' views on markets this upcoming Tuesday and Wednesday. As of now, federal funds rate speculators are still betting on a 75bps rate hike on Wednesday 11/02, but if Fed Chair Powell is to sign off on 100bps it would surely shake up this rally. Depending on what the headlines look like to begin the week, Cryptos and Equities could take another dip leading up to the FOMC statement at 2pm on Wednesday before continuing to rally if the Fed goes with 75bps and includes some dovish remarks in their statement. The alternative scenario would be that the Fed raises 100bps and includes more hawkish remarks in their statement, this would likely send Cryptos and Equities to new lows. Russia suspended the UN-brokered grain deal with Ukraine today, reigniting food supply chain woes . Key Upcoming Dates: 2nd GDPNow US Q4 GDP estimate 11/ 01 ; FOMC Statement at 2pm EST 11/02; October Employment Situation at 830am (EST) 11/04; 2nd Estimate of US Q3 GDP at 830am (EST) 11/30.* Price continues to breakout from the descending trendline from November 2021 and is currently trending up at ~$20.9k as it attempts to break out of a short Bull Flag without formally testing the 50MA as support at ~$19.6k. Volume is currently Moderate (high) and is on track to favor buyers for a second consecutive session if it can close today's session in the green; Price is currently trading in the second largest VP supply/demand zone on the chart and Volume has been shrinking for five consecutive sessions, this hints at a potential impending breakout/breakdown. Parabolic SAR flips bearish at $18450 (which coincides with the descending trendline from November 2021), this margin is neutral at the moment. RSI is currently trending up at 64 after bouncing off of a critical juncture (the uptrend line from November 2018 as support at ~60 which coincides with the upper trendline of the descending channel from January 2021 just above 57.34 support). Stochastic continues to be bearish for a second consecutive session and is currently testing 78 support with no signs of trough formation. MACD remains bullish and is currently breaking above the weak uptrend line from May 2021 at ~132 as it tests 313 resistance with no signs of peak formation. ADX is currently trending up at 17.5 as Price pushes higher, this is mildly bullish at the moment. If Price is able to continue to trend up here then it will likely retest $24181 resistance which should coincide with the 100MA as resistance. However, if Price breaks down here, it will likely formally test the 50 MA as support at around $19417 support . Mental Stop Loss: (two consecutive closes below) $19417.
COINBASE:BTCUSD
by dailytaguy
BTC Daily TA Neutral BullishBTCUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% BTC, 40% Cash. * BULL TRAP WATCH . S&P October US Manufacturing PMI came in at a 28 month low of 49.9 compared to September's index of 52 , and Composite came in at 47.3 compared to September's 49.5. The rate of decrease in this month's Composite PMI is the third fastest since 2009. The UK elects Rishi Sunak to be their next PM, the first Indian-Origin PM. Chinese financial markets are all reeling after the CCP officially reelected Xi Jinping as General Secretary for a third consecutive term. Cryptos are mixed but mainly flat and for the first time in a long time, the VIX, DXY, Equities and Equity Futures are up at the same time. The 30-year US Treasury bond is up while the 10-year is down. EURUSD is up while GBPUSD, JPYUSD and CNYUSD are all down. Oil and Silver are up while other Metals, Nat Gas and Agriculture are down. If this week is strong for earnings and economic data (New Home Sales, GDP and PCE) comes in higher than consensus, it's reasonable for a 100bps rate hike to still be on the table; but as of now, markets are still anticipating a 75bps hike on 11/02. Key Upcoming Dates: US October Consumer Confidence Index at 10am EST 10/25 ; US September New Home Sales at 10am EST 10/26; Alphabet Q3 Earnings and Microsoft Q1 Earnings 10/26; 20th and Final GDPNow US Q3 GDP estimate 10/26; US Q3 GDP First Estimate at 830am EST 10/27; Amazon Q3 and Apple Q4 Earnings 10/28; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.* Price is currently attempting to breakout above the descending trendline from November 2021 which happens to coincide with $19417 resistance. Volume is currently Moderate (moderate) and on track to break a three day streak of buyer dominance if it can close today's session in the red; Price continues to trade around the POC which implies consolidation. Parabolic SAR flips bearish at $20k, this margin is bullish at the moment. RSI is currently trending down at 48 after forming a peak at 52.64, the next support is at 42.41 and resistance is at 57.34. Stochastic remains bullish and is currently trending up at 68.25 as it still technically tests 55.55 resistance, the next resistance is at 78. MACD remains barely bullish for the ninth consecutive session and is currently slightly trending up at -88; the next resistance is the uptrend line from May 2021 at ~100 but it risks a bearish crossover if it dips below -121. ADX is currently trending down slightly at 11.5 as Price is attempting to push higher, this is mildly bearish at the moment. If Price is able to breakout above $19417 resistance , the next likely target is a retest of $24181 resistance for the first time since July of this year. However, if Price breaks down here, it will likely formally test the descending trendline from November 2021 at ~$19k as support before potentially falling to retest the uptrend line from March 2020 at ~$15k as support . Mental Stop Loss: (one close below) $18800.
COINBASE:BTCUSD
by dailytaguy
2
Weekly Bitcoin Analysis: Can We Rule out More Breakdowns?Bitcoin was rejected by the resistance at $19,700. The bulls don’t appear powerful enough to rally. Any substantial movement in the crypto market does not appear likely unless there is a breakthrough on either side of the current range. Earlier this week, the SPX showed signs of a strong reversal which helped Bitcoin recover from the lows that it had formed at $18,100. However, this may not mean that the market has bottomed as the upper resistance has not yet been taken out. Therefore, a potential downside cannot be ruled out just yet. Bitcoin then went on to test the resistance at $19,700 as seen in the chart above. The resistance proved to be too strong for the bulls to flip. It indicates that the buying volume must increase before we see a promising breakout to help take Bitcoin above $20,000. If the upper range is broken, expect the coin to rally toward the next supply zone situated at $20,550. However, if the lower zone is broken, traders should steer clear of any long positions until the support at $18,500 is recaptured. At the time of writing, it is too early to say which side a breakout can be seen, hence, traders should wait for clear signs before taking any positions. For this reason, we will be maintaining a neutral outlook for this week! The major points of interest to watch out for are $18,500 and $19,700. For more expert analyses, check out our trading analysis section! (link in bio)
by CoinMarketCap
1
ETH Daily TA Neutral BullishETHUSD daily guidance is neutral with a bullish bias. Recommended ratio: 60% ETH, 40% Cash. *Cryptos are mixed with certain altcoins like ANKR ( hot off of APTOS integration news ), ATOM and MATIC up while the broader market is mostly flat. Equities, Equity Futures, Gold, EURUSD and 30yr US Treasury bonds are up while VIX, Energy, Agriculture, 10yr US Treasury bonds, DXY, GBPUSD, JPYUSD and CNYUSD are all down. Netflix beat Q3 expectations on both top and bottom lines . Russia continued its renewed attacks on Ukraine today and Ukraine reports that 30% of their power grid infrastructure has now been damaged . Key Upcoming Dates: US September Building Permits and Housing Starts at 830am EST 10/19; 19th GDPNow US Q3 GDP estimate 10/19; S&P US October Manufacturing PMI at 945am EST 10/24; US October Consumer Confidence Index at 10am EST 10/25; US September New Home Sales at 10am EST 10/26; US Q3 GDP First Estimate at 830am EST 10/27; US September PCE Price Index at 8am 10/28; FOMC Statement at 2pm EST 11/02.* Price is currently trending up at ~$1315 after bouncing off of $1270 minor support as it looks to retest the 50 MA as resistance at $1427 resistance. Volume is currently High (low) and on track to break a two day streak of buyers dominance if it can close today's session in the red. Parabolic SAR flips bullish at $1371, this margin is bullish. RSI is currently trending down at 46 after forming a peak just below the upper trendline of the Symmetrical Triangle from February 2020 at ~49. Stochastic remains bullish, is currently trending up at 86 and is still technically testing 81 resistance. MACD remains bullish and is currently trending up slightly at -31, the next resistance is at 27.77. ADX is currently trending down slightly at 31 as Price is slowly rising, this is neutral at the moment. If Price is able to continue up from here then it will likely retest the 50 MA as resistance at $1427 resistance . However, if Price breaks down here, it will likely retest $1270 minor support . Mental Stop Loss: (one close below) $1270.
COINBASE:ETHUSD
by dailytaguy
BTC Daily TA Neutral BearishBTCUSD daily guidance is neutral with a bearish bias. Recommended ratio: 48% BTC, 52% Cash. * SUNDAY SCARIES WATCH . Cryptos are largely flat with some altcoins seeing buying pressure as we get halfway through the weekend. Someone has used a car bomb to explode the only supply line from Crimea to Russia and many presume it to be the Ukrainians , which reignites a whole new round of fears regarding the potential usage of chemical or nuclear warfare by Russia on Ukraine. Of course in this scenario, it would almost certainly result in NATO intervention and may finally be the event that gets the media to use the term World War 3. Because war is historically bullish for DXY, if rate hikes continue into 2023 and war escalates, you can almost assuredly bet that DXY will hit $120 like it did in the early 80's and 2000-02. And if DXY keeps going higher, "Risk-On" assets like Growth Stocks and Cryptos will likely keep going lower. Key Upcoming Dates: FOMC Minutes at 2pm EST 10/12; September US CPI at 830am EST 10/13; September US Retails Sales at 830am EST 10/14; 18th GDPNow US Q3 GDP Estimate 10/14; UofM October Consumer Sentiment Index at 10am EST 10/15.* Price is currently testing $19417 support for the second consecutive session as it gets closer to retesting the descending trendline from November 2021 at ~$20200 as resistance. Volume is Low (low) and currently on track to favor sellers for a fourth consecutive session if it closes today's session in the red. Parabolic SAR flips bearish at $18.3k, this margin is mildly bearish at the moment. RSI is currently trending down slightly at 46.5 as it approaches a retest of the descending trendline from January 2021 as support at 42.41 support. Stochastic remains bearish and is currently testing 55.55 support with no signs of trough formation, the next support after that is at 29.70. MACD remains bullish and continues to trend sideways for the third consecutive session at -70, it's still technically testing -232.42 minor support. ADX is currently trending down at 15 with no signs of trough formation as Price is falling, this is neutral at the moment. If Price is able to bounce here then it will likely retest the 50 MA at ~$20k as resistance before potentially retesting the descending trendline from November 2021 at ~$20200 as resistance . However, if Price breaks down here, it will likely continue to trend sideways until it reaches the descending trendline where it will either break out of the almost one year long descending trend or be rejected and fall to retest the uptrend line from March 2020 at $15k as support for the first time since September 2020. Mental Stop Loss: (two more consecutive closes above) $19417.
COINBASE:BTCUSD
by dailytaguy