Congrats!!! Gold Breakout played so well...Gold played out so good as we expected, gold broke the uptrend and started bearish rally and we are lucky that we caught the breakout, till now we have got 320 pips in few hours from a single trade, that was easy, and it also hit our 1st TP now you all who have followed this idea may close or hold the trade to the 2nd TP zone, and also set your trades to Breakeven for no risk at all, i have mentioned the 2nd TP zone which is quite wide so close when you feel like the profits you have earned is enough, and don't over trade...
Fundmental
🤖 #BTCLIVE - 26.08 - #IDEA 🤖🤖 #BTCLIVE - 26.08 - #IDEA 🤖
TLDR:
Short-Term (<1 Day)
60:40- Bullish:Bearish
Mid-Term (<1 Week)
50:50
Bullish:Bearish
Long-Term (1 Month
70:30 - Bullish:Bearish
TECHNICAL ANALYSIS:
There is simply no way of calling this right now - ultimately leading into the weekend with a good bit of bearish sentiment from Jerome Powell is not ideal although there has been some huge support come in and alot of technical bullish factors. Although ultimately unless we get back above $21.6k then things are expected to be quite bearish for the weekend at least, general targets are largely unchanged at $20.8k and then $20k for a bearish turn and then if we can get back above $21.5k then looking at $22.6k targets, but for the most part its looking like Jerome Powells speech is carrying more weight than the support TA data.
Technical Analysis Bullish Factors:
+ Semi-Bullish Info from the Fed
+ Huge bearish rejection
+ Multiple Bullish Divergences
+ Almost back in the macro channel
+ DXY dropping
+ Bullish Weekly Pivot
+ MFI Turning bullish
Technical Analysis Bearish Factors:
- Just trading under key local resistance
-Rejection from the 200EMA
+ Jerome Powell dropping some bearish sentient "US economy should brace for some pain"
NEWS:
Bull:
+ PCE
MoM: -0.1%
MoM Est. 0.0%
Core PCE MoM: 0.1%
Core MoM Est. 0.2%
This is good
+ Fed's Bostic says he's leaning toward a 0.50% interest rate hike in September.
+ Fed’s Bostic says he doesn’t have a recession built into forecast.
Bear:
- FED Chair Jerome Powell says US economy should brace for "some pain."
METRICS (Last 24 hours):
Bull
Bear
- Liquidations turned negative
EXCHANGE:
+ Exchange Reserve - As the exchange reserve continues to fall, it indicates lower selling pressure.
- Exchange Netflow Total - Net deposits on exchanges are high compared to the 7-day average. Higher deposits can be interpreted as higher selling pressure.
MINERS:
/ Miners' Position Index ( MPI ) - Miners' are selling holdings in a moderate range compared to its one-year average.
Moderately selling
Last Value:
0.17605995
24H%:
-122%
/ Puell Multiple -Miner's revenue is in a moderate range, compared to its one-year average.
Moderate revenue
Last Value:
0.57686097
24H%:
+10%
ON-CHAIN:
+ aSOPR - More investors are selling at a loss. In the middle of a bear market, it can indicate a market bottom.
Realizing loss
Last Value:
0.98629807
24H%:
0%
+ Binary CDD - Long term holders' movement in the last 7days were lower than the average. They have a motive to hold their coins
Low long-term holders' movement
Last Value:
0
24H%:
-
- Net Unrealized Profit and Loss (NUPL) -Investors are in a Capitulation phase where they are currently facing unrealized losses. It indicates the decreasing motive to realize loss which leads to a decrease in sell pressure.
Captulation
Last Value:
-0.00280923
24H%:
-182%
+ Transfer Volume - The total number of coins transferred has increased by 69.00% compared to yesterday.
+ Active Addresses - The number of active wallets used to send and receive coins has increased by 108.00% compared to yesterday.
+ Transactions - The total number of transactions has increased by 163.00% compared to yesterday.
INVESTOR SENTIMENT
- Coinbase Premium - US investors' buying pressure is relatively weak in Coinbase.
- Korea Premium -Korean retail investors' buying pressure is relatively strong.
- Fund Premium - Investors in funds and trusts including Grayscale have relatively weak buying sentiment.
DERIVATIVES
- Funding Rate - Short position traders are dominant and are willing to pay long traders.
Last Value:
-0.00002718
24H%:
-96%
+ Taker Buy Sell Ratio - Buying sentiment is dominent in the derivatives market. More buy orders are filled by takers.
Buy:
0.50461154
Sell:
0.49538846
/ Open Interest - As OI increases, it indicates more liquidity, volatility , and attention are coming into the derivative market. The increasing trend in OI could support the current ongoing price trend
Last Value:
8,512,473,517.51
24H%:
-1%
7D%:
+1%
- Liquidation -12817135.07 of short positions were liquidated in the last 24 hours.
Long:
12,817,135.07
Short:
7,369,912.23
MARKET SENTIMENT:
Fear & Greed Index - Aug 26, 2022:
Today: 27 (Fear)
Yesterday: 25 (Extreme Fear)
Avg. 1W: 27 😱
Avg. 2W: 34 😣
Avg. 1M: 34 😣
Avg. 2M: 28 😱
Avg. 3M: 22 😱
Avg. 6M: 25 😱
Avg. 1Y: 34 😣
🔸 #Bitcoin
Price: $21,616
24h Low: $21,375
24h High: $21,768
MC Change: $4.3B (1.1%)
Dominance: 38.0%
24h: 1.0%
7d: -7.5%
14d: -9.7%
30d: 1.8%
60d: 2.7%
200d: -49.1%
1y: -55.9%
FTM will moon follow UN presentationSimple analysis but for big gains!
We're looking at mainly a fundamental here. Tomorrow the Fantom Foundation will present it's blockchain to the United Nations’ Central Bank Digital Currency (CBDC) Architecture Group. (March 11)
If we break the bottom trend line, trade in invalid. However as fundamentals are strong, I'll paying very close attention for an entry.
Other than that
Expecting yet another big pump for FTM following the UN presentation tomorrow
Trade setup: GBP/JPY analysisAm expecting the price to form a new leg higher and retest the key structure in which price was consolidating at around the 135.500 regions. The sterling has in my opinion overextended into the lows due to political risks in the economy however, from the technical standpoint momentum is being picked up.
Gold plunges to 13 months low – Well done ABCD pattern!For the moment, gold is trading near $1,173 after placing a low of $1,160. It recently has formed a sort of a hammer candle pattern on the 2-hour chart. The hammered pattern followed by a strong bearish trend often causes a bullish reversal. That being said, can we expect a bullish reversal?
I wish I could say yes, but gold is still bearish and the violation of $1,181 has opened further room for selling until $1,157 and $1,131. But since the metal is in oversold zone, we may see a bullish retracement in it until $1,181 and $1,187. Stay tuned for more updates!
BTCUSD correlation to traditional markets NASDAQ Tech and DOW- stronger rebound in traditional markest, shows the trust difference
- mostly positive correlation except in one zone the Bitcoin is showing more weakness, caused by stricter regulations, Mt. Goxx sell off, behavioral finance and more, which compromised the optimism also the option of short leaveraged short sellers could give a stronger negative pressure
- under 5435$ strong weakness and high risk, but should hold through strong fundamentals in long term at around 5000~4800$