Get started

Insights

Looks Like Someone's Prepping for a Rocket Launch in AUD!Alright, alright, it seems like someone has seriously geared up for a rocket launch in the Australian dollar, and it’s happening in the next few days. Looks like we might get some news dropped right after everything goes down, or maybe I’m just out of the loop. A super aggressive portfolio, a Call Spread, popped up yesterday, and it looks like they’re still pouring in options today. Targets for the futures are set at 0.68-0.6825. It’s like a rocket ready to go...))
Long
by ClashChartsTeam
1
What October 25th's Options Portfolio Tells Us About the YenOur analysis of options portfolios from October 25th revealed a Straddle setup on the Japanese yen futures, with a short expiration date set for November 1, 2024. Now, this isn’t exactly a rare sight for the yen; these Straddle portfolios pop up pretty regularly, especially when we’re looking at short expiration periods. From what we've seen, in about 4 out of 5 cases, the quotes tend to hang around the Straddle boundaries and often bounce off them. A recent example? August 5th—prices hit the upper limit at 149.20 (that’s the spot quote) and then bounced back nicely, giving savvy traders a sweet opportunity to jump into a short position on the dollar with a solid risk/reward ratio. So, what's the takeaway here? Use those Straddle boundaries to open positions in the spot/forex market. It makes sense to trade in the direction of the main trend, which means looking for a drop in the yen against the dollar when prices hit that upper boundary—check out #1 for a visual. Now, I can hear the skeptics asking: what's the rationale behind these price movements at the Straddle boundaries? After all, a Straddle is just a straightforward strategy that involves buying volatility and betting on price movement. True, that’s the textbook definition, but it’s just scratching the surface. The real insights and "battle-tested applications" of this strategy are way more intricate than they seem. Stay tuned for our updates, and you’ll definitely uncover the hidden meanings and value of options analysis for the everyday forex trader. Trust me, these insights can give you a real edge in the market. It’s worth your time and effort!
CME:6JZ2024
by ClashChartsTeam
Gold! Will the rally continue..?As expected, gold futures were pretty much flat before the expiry of the March 24 option series, with the only notable exception being a spike in volatility after the Fed news. And what's going on in the options market right now? At the moment, there aren't really any interesting portfolios that show signs of insider trading in the option market. Yes, yesterday there were some pretty significant portfolios opened in growth with an underlying asset value of around $3,000 for the May series, but the logic behind their opening was pretty standard and, in our opinion, doesn't have a lot of predictive power.
OANDA:XAUUSD
by ClashChartsTeam
$ADA Analysis, Bulls need more push!Though $ADA performed very well during the last bull run, it lost 91% of its value and is still trading below its Daily MA 200. However, $ADA price is setting up nicely here. So let's surf the chart for what to expect in the near term, Right now, it is trading below the immediate resistance at $0.38 while the key resistance lies on $0.42 - $0.43. Looking at the chart, breakout above the key resistance is the sweet spot (blue path) which shows a V-bottom pattern with a price target at $0.60, the next resistance. Failure to break can lead to correction below (Yellow path) so timing and patience is the key here, for either way, $ADA is brewing a good entry for both scenarios and due for a nice run off the lows. Thanks for reading, surfin ends….
Long
by e_Surfin4Trades
SOL AnalysisSol has been the least interesting chart for almost 2 months. After losing the support at $26 and the nasty capitulation in response to FTX collapse, it goes as low as $8 where accumulation takes place. Now It is trading just below $26, its 5 months support now turned resistance. Once broken, could be a bullish breakout, so let's surf the chart. Crypto market looks stronger with the bounce from Bitcoin while most Altcoins like SOL are correcting on their immediate resistances. After Bitcoin runs, stronger ALTS will bounce and be bullish on SOL in the near term once $26 is reclaimed and the daily MA 200 (sitting at around $27) is recaptured. It is also a very nice confluence area with the trend line and a breakout here could give a decent re-entry, the next resistance is at $38-$40. It is also notable that this range is the accumulation/demand zone in April to July 2021 before it breaks into new all-time high. Surfin ends…
Long
by e_Surfin4Trades
Bitcoin Analysis; Bullish Thesis!Bitcoin rallied and found an immediate resistance at $21.3K. Now trading within the 5 month range at $18K to $25K which validates the cycle lows at 60 weeks from the highs. So is it UP from here? Definitely not. Still downtrend on Macro. But this range is very significant in my opinion to look for signs of strength and of possible reversal of a trend. So let's surf the chart and see what's in it in the near term. Now that BTC is way above $18.2K which is the bottom horizontal support, the hardest part is for the price to hold above it. First, take note of Bitcoin closing above Daily MA 200 (around $19.5K) for the first time since December 2021. (Orange Circle) this also converged with the 2017 highs at $19.8K, so closing daily above $20K is a positive sign. Next stop is, where BTC could find its demand zone or support in the coming months as it slowly breaks the clearly defined resistance laid out in the chart. Two scenarios to expect in the near term as shown in Bar Pattern. (1) BTC will not go above $21.3K and consolidates below in the next coming days/weeks or (2) capture $21.3K and stop at next resistance at $22.6K then consolidates here in the next coming days/weeks OR (3) Form a possible classic Head and Shoulder Bottom, whether small or complex like the image inserted in the chart. Till then, we follow the trend and look for validations/invalidations of this set up. Thank you for reading and appreciating the comments, supporting ideas as well as contradicting ideas. Surfin ends ...
BITFINEX:BTCUSDLong
by e_Surfin4Trades
Bitcoin Analysis, Impending Breakout? Almost 3 weeks since the last post, Bitcoin price remain around the mid-range at sub $16k since a major rejection at $18k level. No rally, no swing lows but went below $16.8k as expected then move sideways for weeks testing an immediate resistance at $16.9k which is an important key level in my opinion (price and time wise) considering it's a final week to cycle lows. So let's surf the chart and dive deeper… BTC price price held strongly at $16.2k level as shown in the chart forming a Symmetrical Triangle with an upthrust (circle) . As we can see, BTC price is creeping slowly at the apex of the triangle and just tag EMA 34 ( yellow line) near the upper trendline (white arrow). It is also the confluence area of EMA 8 and MA 50. Capturing these levels or closing above EMA 34, around $17k means it will break out from the upper trendline of the triangle pattern which can send the price back to $18k. This is bullish in the near term. Still, $18k is the sweet spot to be bullish in the medium term. On the negative side, if the price will be rejected in the immediate resistance and did not break out, then in the coming days, expect a test on the lower trendline at $16.3k or if it goes below, take note of the stop loss below this level and watch the price for a fake out as shown in the chart (yellow circle). Also note the volume which usually increases with reversal in price. For now, price is tight here and expect volatility. Thank you for reading and appreciating the comments, supporting ideas as well as contradicting ideas. Surfin ends ..
BITFINEX:BTCUSDLong
by e_Surfin4Trades
2
Bitcoin Rejected at 18K, What is Next?HELLO all, in my last post, I discussed my view on Bitcoin at a macro level and pointed out based on its history that the usual 4 Year Cycle Low is forming around 52 weeks from the highs followed by 8 weeks of accumulation period. I mentioned about time here, not to exactly predict but to guide us on our analysis and what to expect considering both time and price action. So now, let's ZOOM OUT and SURF the CHART! To note, the lows when BTC breakdown from $18k (Red Arrow from the left) is within the 52 weeks timeframe. This is supported with a notable capitulation candle (White Arrow Below) and followed by sideways price action for 2 weeks until printed new lows at sub $15,400 (2nd Red Arrow from Left) then bounce back. Finally, after 35 days, Bitcon tested the $18200 level and as expected got rejected with a daily closing below MA 50 (orange circle) which also formed an Evening Doji Star candle. This is a bearish sign since that level is a previous support, now turned into a resistance. This could lead to another decline to the mid-range at $16.8k. Also my notes here: IF Bitcoin failed to recapture MA 50 and flip $18200 in the coming days or week, I consider this a LOCAL price TOP. If BTC tops here, what's next? It will further decline, may retest the support at $15500 ( Red Arrow) and I am expecting a bounce in this key level OR clearly moves sideways in this range (Purple Rectangles) for more days ahead to the next LOCAL LOW to happen 3 weeks from now. Whether it bounces and develops strong support at $15k or breaks below to $13k, Only time will tell. Till then, I will post another update. Thank you for reading and appreciating the comments, supporting ideas as well as contradicting ideas. Surfin ends …
BITFINEX:BTCUSDShort
by e_Surfin4Trades
Crypto unsettled - Will he have another ATH before next dip?Hey everyone! I can`t keep thanking enough to everyone who supports the DataMoney community and wants more interactions and more posts! Sometimes taking some time off is inevitable and within a month posts should be more frequent. Alternatively, everyone is welcome to support DataMoney on Patreon - that would allow us to grow our community faster and incentivize members to produce more quality content more frequently. Back to business: Let's recap what is happening in the market: - All cryptocurrencies continue to be super hyped - ETH hits another ATH of $2643 - Volatility jumps way up opening good day trading opportunities - Upwards trend is obviously slowing down What does all of that mean? In a nutshell, one could oversimplify and say that market ran out of gas. Larger price swings just communicate that the number of hypesters is reducing. Maybe it means that more and larger investors have closed their positions and waiting for a profitable drop? Maybe it means that there are more and larger short sellers? Regardless the higher the volatility the better for daily traders. More and more people are getting excited for that 20-30% drop that should send all cryptos down (with ETH ballpark of sub $2k) On the other hand, hyperinflation in crypto markets is still disconnected from the rest of the world. US Dollar is still surprisingly strong and given the supply and global markets are still yet to reopen. Billionaires are still stashing their billions with nothing else to do other than pour it into the crypto market. It may take another month of the bull market before we have a large correction. Upcoming week's technicals: Position likely to be short (with plenty of buy and sell opportunities!) Forecasted highs at ETH $2550 and $2650 Mid-way point at $2350 (basically anything above that point is overpriced) Forecasted lows at $2150 and $2000 (In the short term, anything under $2k is a good buy. Let's see what it looks like in 5days!) Have a great week trading! 🤑 Our DataMoney community remains active! If you would like to have early access invite to DataMoney ETH technical analysis, please drop in the comments below what was your favourite DataMoney post 😉
Short
by DataMoney
1
DataMoney strikes again! Will ETH hit a new ATH?Hello everyone! The early access DataMoney community already know that good old Mr. DataMoney is taking some time off. Sometimes life happens and we need our time off. That being said - I am flattered, shocked and honoured by everyone writing to me. It is great to read your messages and see that soo many of you love this content and genuinely missed me. Thanks again! Now, a quick catch-up: - Bulls market in full throttle. - ETH hit a few new ATH's in the last few days - Cryptos forever making more money!? Speculation: Why is this all happening? Surely many of you will have a variety of opinions. Please feel free to drop a comment down below if I have missed any massive market event. At a high level, all stocks and crypto should be going down. Uncle Sam is busy with the money printer and M1 should be sending the majority of world economies into hyperinflation. But it isn't! Weirdly enough, a lot of the wealthier world just have a lot of money that they are not spending on fine dining, showing off, luxury entertainment and travelling the world. It seems that one way or another, all of that including the variety of stimulus packages end up in financial markets! Now, this is not the place to discuss whether that's right or wrong, but the number does raise eyebrows 👀 At the moment it seems that people buy and buy in large amounts regardless of the price. A crazy speculator would say that the price will keep rising until the Covid restrictions would end and all the new billionaires would want to dust off (or buy) their jets and yachts sending BTC and ETH at least 50% down together with all the small-time investors 😈 Back to business: There are some speculations that both BTC and ETH have formed H in H&S pattern and mid-March scenario is repeating itself. It would be reasonable to expect a 20% correction in the next week or so. Today's technicals: Position is short Forecasted highs at ETH $2220 and $2260 Mid-way point at $2120 Forecasted lows at $2100 and $2050 Have fun trading! 🤑 For the next month or two, there will be fewer DataMoney posts here on TradingView. However, if you have early access invite, DataMoney community remain active and members continue to actively post and collaborating ideas! If you would like to get an early access invite, drop a link to your favourite DataMoney post in the comments down below!
Short
by DataMoney
Will Easter cause a price drop? Who will hype the market?Happy Easter for those who celebrate and happy (long?) weekend for those who don`t! ☀😎🕊 🥚🐣🐇 Many of you noticed that I did not post for a while. Thanks for your messages! There are a few reasons for that: Life, Work, Easter and JetLag 😅 Trading, data analytics and all of that good jazz is great fun. I absolutely love what we have managed to achieve at the DataMoney community. It is amazing to see that our community continues to grow, help one another and everyone profits along the way even in my absence. If you are reading this - please drop a cheerful comment for our community. They are simply great! Back to business What is going on in the market? From doom to the moon. As the ghost of BTC futures past, the bulls were charging ahead and the markets skyrocketed to a new All-Time-High! Now, Easter time puts many of those bulls behind an easter table to put on some weight instead of trading. That naturally pulls back from that super overhyped and overpriced ATH. Nothing to worry about tho, as soon as Monday and Tuesday will kick back in - we shall see some more price movement. Everyone is very excited to see if that will be a new ATH or a dip 😁📈📉 Today's technicals: Position is short 🔻 Forecasted highs at ETH $2150, $2200 Mid-way point moved to $2000! 😱 From $1650 to $2000 in less than a week! 😱 Forecasted lows are at $2000, $1950 Have fun trading! 🤑 If you would like to get an early access invite to DataMoney ETH technical analysis, write in the comments down below what in your opinion would be the best achievement for the DataMoney community members 😉
Short
by DataMoney
3
When will ETH hit a new ATH?Today is the last day of March and potential ATH for BTC ( and maybe ETH? ). What can we expect? Let's take a look at the big picture! This week started with a V-shape price recovery. Many sources said that this price action lacks reason/merit and is unsustainable, but we all know that markets can remain irrational longer than any one person can remain solvent 😂 In reality, ETH went from underpriced to way, way overpriced in 3 days. For comparison, it took 2 weeks to drop from $1800 to under $1600 and only 4 days to spike back to over $1800. It has been a long time since anything like this happened. Rationally if the price has a sudden spike up, it should go down. Currently, the market is ruled more by the news than supply/demand some believe that the news regarding Visa to accept USDC was a big one. It might as well be just an inflated hype. Please keep in mind that since Tuesday last week crypto markets have been ruled by hypesters and news. Again and again, we have seen technical analysis rendered useless. What's happening today? Bull market at full throttle! The market is hot and hypesters are pushing very hard for new All Time Highs (ATH) for both ETH and BTC. It is also the last day of the month therefore common sense would suggest that traders will push hard to close with another record sale. The overall situation should remain similar as yesterday - market technicals suggest a retrace and the market is likely to be heading in a different direction. Today's technicals: Position should be Short (and the price actually dipped since our early access TA!), but I mark it as Long-ish as traders are very likely push for ATH Forecasted highs at ETH $1900 and $1960 Mid-way point jumped to $1750 Forecasted lows at $1750 and way below, however unlikely to get under $1700. Have fun trading! 💸 If you would like to get early access invite to DataMoney ETH technical analysis, write what was your most successful trade in March! 😉
Long
by DataMoney
Market is consolidating. Will ETH go up or down?A moment of tribute. I would like to thank all of DataMoney fans and followers, without your interest and support this would not be possible. DataMoney now has over 540 fans and followers, our community growing strong. Thank you! 🏆 A quick overview of the market - Half of the week, the 22-24 of March, continued with way prolonged H&S pattern and had a sharp drop on Wednesday the 24th🔻 - BTC again dominated the headlines as hypesters kept hyping BTC and the news of expiring BTC futures came crashing in with analysts and institutional investors predicting sharp price declines for the rest of the week. - BTC futures doomsday never came to be and on Friday the price kept ticking up slowly and steadily instead of the massive volatility and price drop that the majority of traders were expecting 🙈🙊🙉 What happened? No one knows... BTC futures crisis did not come to be. Contracts were settled on Friday without any major fluctuations in the market. Was there a reason for that? Maybe it was just a case of hypesters trying to pull a quick one on the majority of the market? If any of you have any good insights of articles to share why BTC did not drop 20-30% last week - please share in the comments below! Regardless, the weekend price movement raises doubts. On Friday, almost guaranteed market decline takes a U-turn with periodic high volume ticks rising price and many eyebrows. Maybe it was just whales and/or institutional investors reopening closed positions? We all know that the crypto market is not regulated, however, situations, where a few reap a massive profit at the cost of all the rest, reopens discussions of market manipulation. What's next? Many traders taking more and more time off. Looking at the weekend data it seems that it was a good test for what direction the market is going. ETH price remained more or less stable within about 1.5% fluctuation up or down. Where daily traders work very hard to make a decent profit every day, 1% profit or loss is just not worth the hard work. Given that last week price was dropping, it should have given a chance for the price to pick up during the weekend. The fact that it did not, just shows that there may not be that much demand at this price level. It is likely that today will be price exploration, the price will rise a little then likely to drop towards the mid-way point. Market is consolidating. Today's technicals: Position is Long (at least until it reaches forecasted high and then short at least until it bounces back to mid-way point) Forecasted hights at ETH $1760, $1800 Mid-way point at $1650 (that's right! ETH is overpriced this whole weekend!) Forecasted lows at $1660, $1650 and less likely $1600 Have fun trading! 🤑 If you would like to get an early access invite to DataMoney ETH technical analysis - write "I made money today" or "I did not make money today" in the comments down below 💸😉
Long
by DataMoney
3
Friday FOMO! How to close your week with profit?Happy Friday! 🥳 I am sure all of you are excited to see what this first quarterly futures expiration will bring to the market 😁 Yesterday was an intense power struggle between hypesters and market news rendering all technical analysis useless. BTC showed up strong to lead the fight and had a massive dump handed to it. Overall alt-coins were performing better than BTC with everything ranging from ETH to XRP outperforming BTC. Back to ETH... At a macro level it is declining. Surprisingly, regardless of yesterday's dump, at micro level ETH is showing signs of recovery. Although truth to be told - it is very likely that TA will be out the window again with FOMO taking over the market. One way or the other, BTC is at the centre of attention and will ultimately dictate the course of the whole market today. Internet is full of analysts and institutional investors who are threatening to exit their BTC positions and forecasting a massive decline. Some range from 20%-30% decline all the way to wild "dooms-day" type of forecasts of BTC losing 50% of its value this week 😱 Unfortunately, any larger BTC dips or dumps will affect the rest of the market, therefore ETH is expected to decline as well. May the odds be with you shorting the market! 🎯 Today's technicals: Position is Short Forecasted hights at ETH $1650, $1700 Mid-way point at $1670 (That's right, this week ETH lost ~10% of its value and keeps dropping!) Forecasted lows at $1580, $1550 and $1520 Have fun trading! 🤑 If you would like to get early access invite to DataMoney ETH technical analysis - write what would you do if you would make over 10% profit shorting ETH today! 💰
Short
by DataMoney
1
When will ETH jump above $1700?Here comes another ETH TA! 🥳 Yesterday was AMAZING. For the first time in about 2 weeks volatility jumped and people who follow my TA's made a nice profit! Thanks for all of the messages, I am excited to celebrate your 7-10% single-day profit! Congratulations! 💰 What happened? As most of you are well aware, for the last 2 weeks ETH market went stale and many people were turning away as 1% profit or loss was not motivating. Yesterday, finally, the last attempts to hype the market ran out of steam and after a small rise of the price, both ETH and BTC dropped over 10%! We have explored this in my last post "When will ETH drop under $1600?". What will happen next? Currently, the market is bouncing at ~$1600 mark. It seems that ETH has completed it's H&S pattern and the key question is - where will the market go next? The new pattern should unfold itself today or tomorrow. For the most immediate future (next 5-6 hours) the price should rise. UK and US markets will open to wildly discounted BTC and ETH, and buying any of them will drive both of their prices. There is some potential to revisit $1715 before it starts dropping again. $1550 seems to have formed a strong resistance, therefore towards late evening/night price might attempt to retest that price level. Regardless, let's hope that market hypesters will jump right onto this volatility opportunity and keep it alive for at least a few days. More volatility = more profit! 💸 Keep an eye on the ball towards the end of the day as the price can take any direction! Today's technicals: Position is Long Forecasted highs at ETH $1715, $1735 and $1750 Mid-way point at $1715! (the 12hr gap between the current price is wild compared to the last 2 weeks data!) Forecasted lows at $1550 and unlikely $1500 (at least for the next 5-6 hrs). Have fun trading! 🤑 If you would like to get an early access invite for DataMoney ETH technical analysis, write "ETH is going up!" in the comments down below.
Long
by DataMoney
4
When will ETH drop under $1600?Today's post is short and sweet, I hope you will enjoy it! 📰 Wednesday is here and it seems that ETH is about to complete H&S pattern. The market indicates some level of excitement, however, at this point, there is no clear data on which way the market will turn. All-day yesterday the market was really pushing for a breakthrough upwards and have been rejected at least a dozen of times around ETH $1715 mark. There was an attempt to break below $1650 and it bounced right off it. At a Macro level, market is 💯% declining in line with the H&S pattern that we have been discussing recently. At a Micro level, the situation is a lot less appealing. Strong signs of the market slowing down, volumes and volatility dropping. 1% uncertain profit or loss is turning traders away into seeking other, more exciting opportunities. Today's technicals: Position Short-ish (as you may have noticed, for over a week the market is ~50/50 with no significant wins/losses, low volatility with a slow decline at a Micro level) Forecasted high at $1720, $1760 Mid-way point at $1760 (meaning that ETH although discounted, keeps dropping) Forecasted lows at $1650, $1630 and $1600 Have fun trading or taking a day-off! 😎 If you would like to get early access invite to DataMoney ETH technical analysis, write what other more exciting opportunities are you trading today 💰
Short
by DataMoney
1
How low will ETH drop? An overview of this and last weekFirst of all I would like to take a moment to say thank you to all of my fans and followers! It is hard to believe, but DataMoney already have over 500 followers! Our community is growing and everyone is excited to see what the future holds! Fun fact - If my post says that ETH will go up, I get 3x more views and 3x more likes compared to neutral or price drop posts 😅 As many of you have noticed, there were fewer posts last week. That is mainly due to 2 reasons: 1) It has been just silly busy the last couple of weeks here. You must have noticed this in my last posts. 2) Last week was a slow-burner. Basically, after you have read my last Monday's and Tuesday's posts "Will ETH follow H&S formation? Get ready for price action!" and "ETH is going down. Opportunity to short", you already had all the info needed for the rest of the week. Macro and Micro level data remained more or less the same for the rest of the week. Market stalled and many traders just took 4-5 day long weekend off 😎 A quick recap On Monday, 15th March, we confirmed that ETH is forming a Head and Shoulders pattern and it seems that strong resistance has formed around $1750 and $1730, we were getting ready for price action! On 16th, we draw to attention a possible worst-case scenario of a stale market. Where too many constraints prevent the price from moving up or down, it can make the rest of the week a bit difficult by pushing ETH into limbo. Unfortunately, that is exactly what happened. On the 18th we went for a long weekend with "kumbaya" till the market drops below 1700 at the start of this week and here we are. This week Both Macro and Micro level data suggest a further drop of ETH price🔻 It is unclear at the moment what will be the bottom, however, $1600 is the #1 suspect and it all depends if data would indicate any strong support formation. Although we all know that crypto markets are unpredictable, current data suggest that this pattern will continue for the next 2-3 days. In case of low volatility, we will remain at the current price range and in case of high volatility, we can end up anywhere on the price chart. As for today, we are looking at standard Mirco pattern breakout either up, if it breaks up and forms support at ETH $1660, OR down, if it breaks below $1620. The latter is more likely in line with the declining H&S pattern at the Macro level. Today's technicals: Position is Short Forecasted highs at $1660, $1690 and unlikely $1710 Mid-way point at $1780 (Yes, ETH is well discounted and at the moment it seems that anything under $1660 is a good buy, unless it drops to $1600 😉) Forecasted lows at $1640, $1600 Have fun trading! 🤑 If you would like to have early access to DataMoney ETH technical analysis, write "I am a DataMoney fan! ETH will go up!" or "I am a DataMoney fan! ETH will go down!" in the comments down below.
Short
by DataMoney
3
Happy long weekend! Will ETH continue to stall?It can be a bit demotivating to do ETH technical analysis this week. Price is dictated by BTC, ETH in limbo and both macro and micro level data is just gone stale. For those who are new to my posts, here is a quick recap of the last 4-5 days: - March 13-14th price movement indicated ETH moving into Head and Shoulders pattern. - Around March 16th ETH should have reached the low of ~$1700 to start formin the right shoulder - Volume, demand and volatility slowed down and for the last 2 days market remained stale (~1.5% price movement) - Many daily traders are taking a long weekend off as 1% profit or loss is not worth the time (compared to 8-12% profit we achieve daily on regular days*) - If H&S pattern will continue, it is very likely next week will start at around $1700-1650 point. - There are a lot of speculations regarding M1, it's effect on all global markets and if it will drive all crypto price up, however at the moment there are no clear indications of a significant rise in the next day or two. Of course, noting is set and stone in crypto markets and things can dramatically shift any second. You will need to decide for yourself if this long weekend is worth being glued to the screen 😄 Today's technicals: Position is Long Forecasted highs at $1860 & $1900 Mid-way point at $1820 Forecasted lows at $1760, $1730 Have fun taking your time off! ☀😎🍹 I am off for the next few days, see you on Monday! 🏖
Long
by DataMoney
2
How long will ETH remain in limbo? What's next?Tuesday passed uneventfully. As per my recent post "ETH is going down. Opportunity to short", we have explored current market trends and "what if" the worst-case scenario with the market dwelling into limbo. ...And the limbo is what ETH got into. Macro and Micro level data remain almost identical to yesterdays. At some point market will have to make a move, the key question remains - up or down? At the time of doing ETH technical analysis and posting market data to our Data Money early access community, ETH was at $1789 with the position of Neutral, the recommendation to Short as the market was more or less 50/50. Since then BTC dropped dragging the whole market 0.5% down. Although the price is slightly down, it seems that did not affect the market at all. Market data and price action probability remain more or less the same 50/50. Volume currently just below the recent average indicates that demand is dropping, the market is consolidating and ready for price action. What does all of that mean? Simply put - the situation is the same since Monday. The market is ready for action, just waiting for someone else to make a move. When everyone is waiting for someone else to make a move - no one moves, low volumes, low demand, low volatility and unfortunately low to none profit for daily traders. If you are interested to understand why this happens, check out my previous post below where we explored "How and why do we put ourselves into the numbers box?". Today's technicals: Position is Neutral (Many of us are shorting since $1789, but now and then market indicates more or less 50/50) Forecasted highs at $1830 & $1860 Mid-way point at $1812 Forecasted lows remain at $1730, $1700 If this is stressing you out, just set a couple of notifications in case the price move above $1830 or below $1730 and just forget it. Enjoy your day off! 😎🍹
by DataMoney
2
ETH is going down. Opportunity to shortYesterday's price action unlocked profit opportunities for Data Money followers to make ~8-12% profit. Great yields for executing 2-3 trades per day, congratulations on your wins! 🏆 The situation today seems to follow the same trend. Macro-level data suggests a continuation of the H&S pattern that we discussed in yesterday's "Will ETH follow H&S formation? Get ready for price action!" post. We all know that past performance does not guarantee future returns, however, micro-level data also suggests that ETH is likely to give another go today to break below ETH $1700! It seems that this number now is a key anchor for both macro and micro charts. Volume has levelled-off at around 72h average suggesting that the market is getting ready for price action. There is a high chance of a sharp price drop today. Overall the worst-case scenario would be another ETH limbo. In a world where the crypto price gets in a box of "too many constraints", all daily traders lose. High volatility is what unlocks your opportunities to profit 🤑 Today's technicals: Position is short (if you can keep your eyes on the ball, long and short as yesterday) Forecasted highs at $1830 & $1860 Mid-way point at $1815 Forecasted lows at $1730, $1700 Have a great day trading! 💰 If you would like to get an invite to Data Money early access TA's, post a link to your favourite Data Money post in the comments down below.
Short
by DataMoney
1
Will ETH follow H&S formation? Get ready for price action!First of all, I would like to start with a sincere thank you to all of my followers. I have received a ton of messages from people asking what happened and why all of the sudden my posts stopped. I am well and healthy, thanks 🙏 Just had a really busy week and in situations like these, we sometimes have to make a hard call on what to prioritize. Our Data Money community continues to grow and is active regardless. I am very pleased to see that people are continuing to make a profit albeit TA's turned to be a more difficult part. Back to business Crypto markets have been very active last weekend and we have an exciting start of the week. Macro-level data suggest a formation of head and shoulders pattern, it is likely that we will see nice price action throughout the week opening opportunities for quick profitable long and short opportunities. At a micro level, at the moment price is struggling between ETH $1750 and $1730. ETH price has to break below $1730 to continue on H&S pattern. Please keep in mind that ETH $1750 is a psychological number and $1730 formed strong support next to it. It may again put ETH into a box of "too many constraints" that can send the market into another few days of limbo. Today's technicals: Position is neutral . Our recommendation is to long the dip and exit before it hits the top for H&S continuation. Data Money fans with early access already know that we have opened long positions at ~$1730 this morning 💸 Forecasted highs at ETH $1830 and unlikely $1890 Mid-way point moved down to $1820 Forecasted lows at $1730, $1700 and a must buy $1660 Have a great start of the week! 🤑 If you would like to have early access to Data Money ETH technical analysis write "I like Data Money! ETH price will go up!" or "I like Data Money! ETH Price will go down!" in the comments down bellow 😉
by DataMoney
5