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Is Ripple Ready For A Bullish Breakout?Grayscale to Launch First U.S. XRP Trust, Paving the Way for Potential ETF There were report that Grayscale is launching the first U.S. XRP Trust Fund, offering accredited investors direct exposure to XRP. This move is seen as a step towards an XRP exchange-traded fund (ETF). Grayscale has a history of pioneering crypto financial products, including converting its Bitcoin Trust into a spot ETF after a successful lawsuit against the SEC in 2023. Now, looking at Ripple's Elliott Wave structure, its unfolding a five-wave bullish impulse on the weekly chart. Currently, it's trading in 6-year higher degree consolidation; ideally, it's a larger bullish triangle in wave four, which can be coming to an end in next few months. So possibly we can see a break higher.
BITSTAMP:XRPUSDLong
by ew-forecast
4
A Trade as Simple as "Shooting Ducks in a Barrel" - BTC LONGDISCLAIMER: This is not trade advice. This is for educational and entertainment purposes only to demonstrate how I intend to participate in this market. Trading involves real risk. Do your own due diligence. People like myself (with average-to-below average intelligence) need a simple strategy. My "Ducks in a Barrel" strategy is exactly that. Simple. Clear. Rules Based. Effective. Zero Discretion. BTC (and several other cryptos, for that matter), are setup for "Ducks in a Barrel" long trades. Lets review the process for identifying these setups. To be clear, this is not a "long now" post. This market is SETUP. This is not a timing tool. We get into the market once we get a technical long TRIGGER on the Daily timeframe. From there, we FOLLOW THROUGH on the trade by managing risk and maximizing profit. Without the TRIGGER, we have not trade. STEP 1: Identify a market with a strong trend on the weekly timeframe. I utilize the 39 and 52 period MA. For uptrends, we want to see both MA's sloping up and pulling away from each other. We see on BTC that the two MA's are still upward sloping and pulling away from each other. This confirms step 1, that we are in a strong uptrend. STEP 2: We need at least 2 of the following to be in unison with the direction we want to trade (in the case of BTC, we need 2 of these to support the long idea). VALUATION: For longs, we need an undervaluation vs Gold &/or Treasuries. STOCHASTIC: For longs, we need to see the market is oversold. SENTIMENT: For longs, we want to see Bearish advisor sentiment (we fade the public sentiment). STEP 3: We see that BTC is Oversold on the Stochastic and is Undervalued vs Gold & Treasuries. This meets our criteria of 2/3 indicators supporting our idea. This market is now SET UP for longs. Now we wait for the TRIGGER. STEP 4: We are waiting for Step 4 in Bitcoin right now. We need to see an entry TRIGGER on the daily timeframe via one of the following entry techniques. 18 Period MA Entry 10 high 8 close MAC w/ Williams Acc/Dis 57 MA Confirmation Entry Stop either 150% of 3 Period ATR, or 2 times the width of the MAC, whichever is greater. There are other entry techniques, but they are higher risk. The two entry techniques above will not catch the absolute bottom, but will ensure that you are buying into a confirmed trend change. Other entry techniques come with the risk of trying to "bottom/top" pick, which increases your odds of several losses prior to the real move occuring. If you have questions about the "Ducks in a Barrel" strategy, feel free to shoot me a message. I hope you all have a great week. And as always..... Good Luck & Good Trading.
Long
by Tradius_Trades
4
Centralized Exchanges See Uptick In Trading VolumesMarket Update - September 6, 2024 Takeaways The market faced a broad decline over the past week:  More than $162 million in crypto liquidations occurred last weekend, primarily from long positions, as US bitcoin ETFs experienced net outflows totaling $276 million. As of Thursday, the price of bitcoin had dropped to nearly $56,000. The SEC has expressed concerns over FTX’s proposed distribution of stablecoins to creditors:  While FTX’s plan aims to repay 98% of creditors in cash, the SEC may take the stance that remaining distributions made in crypto violate federal securities laws. Cardano implemented its “Chang” upgrade, shifting control from its founding bodies to a decentralized governance structure using the ADA token:  The long-awaited enhancement allows the community to vote on proposals and elect governance representatives. High-ranking Binance executive Tigran Gambaryan, detained in Nigeria since February, appeared in court on Monday in pain after being denied a wheelchair:  His lawyers have filed for bail on medical grounds, citing multiple health issues, but the prosecution has opposed the request. Trading volumes on centralized cryptocurrency exchanges saw a roughly 6.6% MoM increase in August, reaching $1.2 trillion:  Exchanges in North America experienced more than a 21% increase in activity compared to July. 🎾 Topic of the Week: Fetch.AI (FET): An AI Solution to Data Inefficiency ➡️ Read more here
GEMINI:BTCUSD
by Gemini
FETUSDT at Support: A Prime Opportunity for Spot BuyersFETUSDT has reached a critical support area, presenting a potential buying opportunity for traders and investors. In this analysis, we explore the significance of support levels, why this could be an ideal entry point, and how to strategize your purchase on the spot market. Learn how to assess the current market conditions, manage risks, and optimize your trading decisions as FETUSDT tests this key support zone. Whether you're looking to capitalize on short-term gains or hold for the long run, this guide provides the insights you need to make informed moves.
Long
by Darshana_Alwis
Could the Bitcoin reverse from here?The price is falling towards the pivot which is an overlap support and could bounce to the pullback resistance. Pivot: 56,992.44 1st Support: 54,704.04 1st Resistance: 59,966.65 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.
ICMARKETS:BTCUSDLong
by ICmarkets
Maximizing Gains: A Strategic Guide to Buying FETUSDT on SpotIn this article, we dive into the strategy of buying FETUSDT on the spot market, offering insights into timing, risk management, and market trends. Learn how to capitalize on the unique opportunities presented by FET, a rising star in the crypto space, and USDT, a stablecoin trusted by investors worldwide. Whether you're a seasoned trader or a crypto newbie, this guide will equip you with the knowledge to optimize your investment and navigate the dynamic world of cryptocurrency trading.
Long
by Darshana_Alwis
1
Weak Dollar And Bullish Technicals Signal For Higher BitcoinAfter some initial recession fears spurred by the NFP report showing higher unemployment (4.3%) at the start of Avugust, stocks have bounced back up as last week’s retail sales data indicates the economy isn’t as bad as feared. CPI figures have also helped stabilize the markets, and with the FED potentially closer to cutting rates in September, the stock market may continue higher. Now that stocks are back to bullish mode, we can see a strong risk-on sentiment that can push stocks even higher, while USDollar will most likely stay under bearish pressure along with US Yields, which can help Crypto market to stay in the bullish trend. So this time we want to update an interesting weekly BITCOIN technical chart we have been tracking for the last two years. Notice that back in 2023, bitcoin broke out of a downtrend channel and then retested it as a support, followed by a rise above 50-week Moving Average, which interestingly, also held as a support. Since then price turned higher, and start forming some extended structures since the beginning of 2024. Now in the second part of 2024 we got some slowdown after touching 80k, but it clearly looks like a corrective and sideways price movement within uptrend, that once again retested 50-week MA support, also with nice bullish hammer candlestick formation. That said, be aware of a bullish continuation into the end of 2024.
BITSTAMP:BTCUSDLong
by ew-forecast
Is ALTseason Finally Back?ALTseason actually started already back in 2023, when we got a nice five-wave bullish impulse in the ALTcoin dominance chart with ticker OTHERS.D. It was first leg A of a three-wave A-B-C rally. We have seen a slow down in the last couple of months along with the whole Crypto market and that's why most of the ALTcoins came lower than Bitcoin, but we can see a corrective (A)-(B)-(C) decline within wave B with the wedge pattern within wave (C) of B that can be coming to an end. So if we are on the right path, then seems like new ALTseason may not be far away, especially if we consider that Bitcoin and the whole Crypto market are still bullish. However, to even think about the next ALTseason, we have to see ALTcoin dominance back above 10.55%, which is first bullish evidence for a higher degree wave C.
CRYPTOCAP:OTHERS.DLong
by ew-forecast
1
Fetch AI Gartley PatternFetch AI (or ASI, depending on Binance's ticker update) has been in a consistent downtrend from its peak at $3.48. It appears in a bottoming range, forming a classic Gartley pattern. Key Levels to Watch: Immediate Test Levels: The price will likely test the $1.00 - $1.18 range soon. Accumulation Range: Any pullback to the accumulation zone between $0.70 - $0.94 would present a strong buying opportunity. Targets Upon Breakout: Target 1: $1.76 Target 2: $2.41 Target 3: $3.10 Risk Management: Stop Loss: Set at $0.50 to manage downside risk. A close above the downtrend line will confirm the breakout, potentially driving the price towards the T1 and T2 targets. Keep an eye on any pullbacks into the accumulation range, as these could provide optimal entry points for a potential upside move.
by TechChartMark
DeFi Bulls Can Be Ready; Elliott Wave AnalysisDeFi Index made nice and clean five-wave rally from June of 2023 into March of 2024, which confirms bottom in place, especially if we respect a complex W-X-Y corrective decline since March 2024 highs till August 2024. It's actually already bouncing quite strongly away from key 78,6% Fibo. retracement after potentially completed projected complex W-X-Y corrective setback, but to confirm bulls back in the game, we need to see it back above channel resistance line and 861 region. After recent stock market sell-off due to recession fears, Crypto market slowed down again, but now that risk-on sentiment is back with bullish stocks and bearish USdollar, seems like even Crypto market may stay in the bullish trend, especially if we consider an inflation cool-down and upcoming interest rate cut in US.
Long
by ew-forecast
3
BlackRock Bitcoin ETF Is Forming An Intraday Bullish SetupIf we take a look at the hourly chart of BlackRock Bitcoin ETF with ticker IBIT, we can see nice and clean five-wave intraday rally from the lows, followed by an a-b-c corrective setback with first support at 32 area, while second deeper one would be around 31 area. So, seems like it's forming a nice intraday bullish setup formation, thus watch out on a bullish continuation, while it's above 28 invalidation level, just keep in mind that bulls may step in above 34.15 level.
NASDAQ:IBITLong
by ew-forecast
Solana Likely To Test The Low $100 Area - Great Long OpportunityDespite greatly outperforming most of the crypto market recently and getting a higher high, Solana obviously couldn't avoid the global selloff that has been happening across all markets for the past week. The sell pressure might force Solana to a lower low in the $100-110 region, maybe even wick below $100 as stop losses get hunted and people get liquidated. There are several factors that make me believe this could be the bottom of the range we've been trading at for many months, and we'll be heading to new highs starting around September/October. The low $100 area has previously shown to have high liquidity, and has a positive volume delta since the low of January, indicating there's more buying than selling interest at that price. There's also the October anchored VWAP which has now reached $108. The upper 0.5 standard deviation band has acted as a support level for pretty much every dip so far this year, but we could see a test of the VWAP now that it has risen close to the local trading range. The Fib extension using the pivot highs and low of the trading range gives us the 1 level at $107, aligning with the VWAP. The ideal entry points which I'm looking for are $107.5, $102.5 and $97.5, as there's a high chance that there will be a lot of stops around these prices. Also be aware that there might be a double bottom first before price goes up again, which is often the case for major trend reversals, and has been for Solana's previous 2 dips. These usually also have a bullish RSI divergence which is good to keep an eye out for. Profit targets for this trade shorter term could be around like $180-$200, longer term would be at some future new ATHs, which might be around some of the Fib levels in the previous chart I published.
Long
by NoLimit_777
1