BTC - FAKE ETF News cause BULL-trap👎Hi Traders, Investors and Speculators of Charts📈📉
There has been interesting volatility on BTC in the past 24 hours, with fake news being released on X, alleging that the SEC approved Blackrock's iShare spot ETF (they haven't).
Directly from the Cointelegraph website, 16 hours ago:
"Earlier today, during routine coverage, Cointelegraph’s social media team posted a message on X without prior editorial approval stating that the United States Securities and Exchange Commission had approved BlackRock’s iShares spot Bitcoin exchange-traded fund, or ETF. This was false, the result of misinformation. The news lead originated from an unconfirmed screenshot posted by an X user who claimed it was from the Bloomberg Terminal. "
Pretty much immediately after this article, the price started to retrace. It seems to me like severe insider trading / purposeful deceit. Interestingly enough, the price turned at EXACTLY 30K which seems very unnatural. It will be interesting to see whether the SEC reacts to this, or if it's just another day in crypto.
Luckily, as per all our previous posts on altcoins, I'm not trading BTC at the moment. Reason being I was expecting algo's on Bitcoin, as range trading often attracts bots. My focus is still on altcoins at the moment.
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Bitcoin / Indices/ Oil: Geopolitical Uncertainty and Fake News! Transcript:
0:07 Hey there, folks! Happy Monday and here's to a great week ahead. So, let's dive right into the Bitcoin rollercoaster.
0:14 Bitcoin took a wild ride, soaring to 30,000 and beyond, hitting 30,200 in the spot market and 30,600 in futures. Why? Well, some fake news claimed the SEC approved an iShares Bitcoin spot ETF. But, hold on, BlackRock stepped in and said it's not true. The price quickly corrected.
0:47 Now, let's look at the chart, using the eight-minute chart due to the crazy volatility. I've been advocating for long positions since around 26,600, and it paid off with a climb to over 27,600, now serving as support.
1:33 We're currently long, with support around 27,600. Our sights are set on revisiting 28,900 and eventually hitting 31,000.
1:50 Also, don't forget the impact of banking issues on Bitcoin. Remember when banks have troubles? Bitcoin can shine as a safe haven. Check out the link I shared for more info.
3:19 On the geopolitical front, we've got a lot going on with Ukraine, Israel, Gaza, and Palestine. Let's hope for peace and coexistence among humanity. Bitcoin, with its trustless nature, could play a role.
4:32 Bitcoin is trustless, and that's crucial. Now, let's switch gears to indices, which have been on the rise, and oil, influenced by geopolitical factors.
5:17 Oil has been an interesting ride, with great trades. We're currently short at $88, expecting some sideways movement.
6:41 Geopolitics matter. We had a perfect long entry due to geopolitical factors. $88 remains a key level for us.
7:03 To sum it up, Bitcoin is our top pick. We're eyeing 29,000 and then 31,000 as potential targets. Stay tuned for more updates as Bitcoin's safe haven qualities continue to shine.
7:40 That's a wrap for today. Take care, everyone!
One Love,
The FXPROFESSOR 💙
Second wave or no wave - the choice is yours! Just have a look. I present a case for probability south on the DJI (Wall Street).
Reality is catching up.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
COVID-19 ATTACK, Fake news and the DJI (Wall Street)I present Tradingview data on COVID-19 infection rates and death rates in the USA - and compare those with the DJI (Wall Street).
Contrary to what we've been told by our leaders and mainstream media, there is no plateauing of infections or deaths in the USA.
NOBODY can say that the virus has peaked. The virus is charging north on exponential curves. Most of it's attack was in April 2020.
This bug is just getting started.
The chart shows the FED's QE infinity approach and how it has been failing.
Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile, and you lose your money, kindly sue yourself.
DJI update: fake news and almost free money. The DJI is approaching an all time high of about 278400. This market has become pretty volatile mostly at 30 - 50 minute charts.
Although the DJI is pushing north madly, it is a market that is being moth eaten. It's instability is likened to a Jenga tower. The instability is also seen in trend switches down to the 5 minute level.
I SAY THANK YOU DONALD! LOOL!Well, well - I have to thank Mr Trump for breaking the news that he's gonna raise tariffs on China about an hour before the open of the markets last night. The DJI and loads of other markets took a dive. I'm short of course, and trailing a 2H ATR trendline. On open of the markets there was a gap down of about 430 points. Never before have I seen anything like this on a Sunday night.
As usual the bulls did their thing, trying to close the gap but were beaten back badly up to this morning. This does not mean they won't come around again for another bludgeoning.
The bulls had of course been drunk over the last 4 weeks. They were pricing in hopes that the Fed would reduce interest rates. Powell delivered a nasty surprise. Then last night hopes that the China trade deal was coming to fruition got a shower of ice cold water. It's strange but not so strange that traders were gagging for the deal to come through. Reality was that for the last 6 weeks reputable sources knew that the deal was in trouble. Hey ho - I'm not here to stop anybody listening to or reading mainstream media.
My speculation is that Mr Trump knows or knew the deal is dead (or near dead) so didn't want that to hit suddenly on Friday (the big day) - as bad news on a Friday would cause catastrophic meltdown (either on Friday or the following Monday). So methinks the gave a heads up to avoid the bubble popping 'too suddenly' - if there is any such thing. Well, for Donald anything is possible! LOL
Wall Street: When market hysteria meets realityIn this screencast I show how I interpreted the bull run on the daily and how I entered on a 30 min time frame.
Everybody (almost) went 'Wooohoooo!" when Trump made announcements that trade war with China was on hold. There was also the Wooohooo thing when Powell made his politically correct statement, which actually didn't say anything about halting interest rate rises.
Well.. well.. reality hit home shortly after each of those two events creating bull runs.
To be clear, nothing I say means that the markets cannot go north like crazy. I simply don't care! Why? Because I control my acceptable loss.
Dow Jones (Wall Street) - the big wobble.Crystal balls are either cracking or working overtime around the world in attempting to predict what's going to happen with Wall Street. See also What rules the world?
As I said so many times before, 'nobody can predict anything' in stock markets or any other market - for the simple reason that nobody owns the future.
In this screencast, I show a bit of my own methodology. There was a potential reversal zone on the weekly, that was stalked carefully for entry point on the hourly time frame. The 1h time frame was exploited. Then stop loss tightened on the 2h time frame using a combination of the VMA and Vervoort.
Looking ahead, the 1D time frame shows a serious change of sentiment of investors. Price busts violently through an Guppy (GMMA) investor zone. Those watching a 200EMA on 1D chart will see that there is hesitation as price moves into that zone. Price may respect that sort of zone for a while but it doesn't have to.
The squeeze momentum indicator also reflects the sudden change of momentum. Whatever it is that has accumulated to spook this market, is significant. I do not need to know.
The news has reported that Wall Street is fighting back. Well yes, but it's not a major fight back at this time on the 2H to 4H time frames.
Avoiding a 'predictions model', I simply position myself to get stopped out where I think is best. As mentioned in the video I do factor-in experience in this market, which cannot be written into an algorithm or set of instructions. Each instrument has a different 'personality'. So, my knowledge and experience in Wall Street is brought to bear on my probability estimates. In other words, though I have a methodology, how I apply it varies from instrument to instrument.
Overall, my assessment of the market on 1D and lower time frames, is probability for further down side. But for every probability in one direction there is a residual probability for the opposite direction.