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January

USDC hitsThe circulation of USDC has more than doubled since the original deal was announced, reaching $52.7 billion as of the above date. Jeremy Allaire, Circle’s co-founder and CEO expressed optimism about the new partnership. He was targeting a public listing through the above merger with an SPAC (special purpose acquisition company), which would augment trust and confidence in Circle. He commented: Circle has made massive strides toward transforming the global economic system through the power of digital currencies and the open internet. This is a critical milestone as we continue our mission to build a more inclusive financial ecosystem. Making this journey with Concord under our new agreement is a strategic accelerator. Initially, the plan was to conclude the new agreement on December 8, 2022 with the potential to extend to January 31, 2023. Then, the company would be listed on the New York Stock Exchange under the stock ticker symbol ‘CRCL’. The agreement was approved by the boards of directors of Circle and Concord Acquisition Corp. The latter’s executives also expressed a positive attitude toward the deal. Concord Chairman Bob Diamond said: We believe our new deal is attractive because it preserves the ability of Concord’s public stakeholders to participate in a transaction with this great company.
ULong
by Michelle8620
What Is the Future of Crypto and Bitcoin in Short and Long TermsBitcoin fell down fast at the first days of the New Year’s Eve, and just a few days ago, on January the 8th, it was getting sold just about 40K USD. The crypto market is highly inflated. Inflation of crypto market and Bitcoin following the New Year’s Eve, and especially after the Kazakhstan governmental shutdown of the crypto mining networks, potentially might be bearish, not only to the cryptocurrency value but also to the stock market over the early months of the year. Meanwhile, experts analysis proofs long term increments in crypto market price that would just pass 80K USD in near future this year, and then possibly it might hit 110K USD, and much more. Thereby, as the Bitcoin value badly hit 40K USD (as a short term falling minimum) last days, and on the contrary as the crypto markets just had some good trades last days, and especially while meaningful hopes are brightly observable at the sight showing that the crypto markets are getting boosted again over the next days by a higher rate of impressive traders, thereby, fortunately, the cryptocurrency market shall hit a desirable value, once again, too soon (above 45K USD). But because of vast social stress over the current pandemic that what if probably the CoVid issue affects the Digital Money, and also because, as it was discussed above, the Kazakhstan’s cryptocurrency mining complaints yet threatening the crypto market, it might be predictable that the next month would not be such a good month for the crypto and stock markets and for the investors (and the price may fall below the 40K USD broker). Below, I have just illustrated a schematic chart eliciting my self-opinions regarding the effects of the moving average bars on the Bitcoin price just during the Jan of 2022. Look at my personal-forecast of the Bitcoin price in short term (The snapshot of the chart of current idea) Now, after a distinguished increment in crypto price once, over the next days in late third quarter of the Jan, 2022, thereafter, it could be not an ideal market for crypto during this Feb. But following the spring we must see a huge difference in the crypto markets value hopefully.
BITSTAMP:BTCUSD
by GeraldMann
$PINS good (not best) buy point! (3/5)Conviction: 3/5 26.8 looks like a better entry Main thesis So far (mid week) bounced off of dark blue channel (2020) support. RSI-W touched historical bounce area (however, if we wait for bullish divergence there could be another leg down) Leg down could coincide with .786 retracement (26.8) RSI-D showing bullish divergence Misc Info P/S level of 9ish is high on absolute level, but on lower end of range relative to other high growth names As a reference, S&P 500 P/S is 3 right now. High margin and high growth Very healthy quick ratio Potential Risks RSI-W is still languishing at oversold levels, better to wait for a clearer signal Channel (2020) is super short, and does not include last major recession (2008) General markets are very expensive, and we all know correlation goes to 1 in selloff. High growth / expensive names seems like will sell off more than general market
NYSE:PINSLong
by asdf098
$CLX long-term buy! (4/5)Conviction: 4/5 Entry is not idea, could have better entry point if price goes down to retest support. Main thesis Bounced off long-term (1991) channel bottom in December Bounced off 50M-MAas well RSI-M also bounced off historical lows, although not levels with highest certainty Confirmed breakthrough from downward resistance line last week Touching lower bound of channel (2016) Misc Info P/S level of 3ish is high relative to historical levels, however much lower than some other tech companies... P/S level of 3 is about the same as S&P 500 Healthcare ( AMEX:XLV ) looks good compared to AMEX:SPY , could carry this up as well Potential Risks RSI-W is heating up, although does not preclude from uptrend in medium term (about a year) Just broke through (with confirmed close) last week from downtrend resistance line Quick ratio is deteriorating from mid 2021 General markets are very expensive, and we all know correlation goes to 1 in selloff. Revenue growth is negative ... likely as people become less sensitive to COVID?
NYSE:CLXLong
by asdf098
$TDOC multiple signals buy (4/5)Conviction: 4/5 Main thesis Retrace to .786 fib level from 2016 lows. This is an unconventional level but it coincided with medium-term resistance from 2009-2020. RSI-W touched historical bounce area (however, if we wait for bullish divergence there could be another leg down) RSI-D showing bullish divergence Touching lower bound of channel (2016) Misc Info P/S level of 7ish is high on absolute level, but on lower end of range relative to other high growth names Healthcare ( AMEX:XLV ) looks good compared to AMEX:SPY , could carry this up as well High margin and high growth Very healthy quick ratio Potential Risks Bullish div = another leg down Very negative FCF (not sure why?) Channel does not include last major recession (2008) General markets are very expensive, and we all know correlation goes to 1 in selloff. High growth / expensive names seems like will sell off more than general market
NYSE:TDOCLong
by asdf098
$SPY showing signs of exhausgion against $ACWX (3/5)Conviction: 3/5 SPY could continue to outperform ACWX for another year as in 2015-2017 period. Main Thesis Weekly RSI of SPY outperformance nearing overbought area, which have historically identified about 3 months of underperformance when SPY/ACWX touches 50W or 100W MA. Monthly RSI also approaching overbought. Daily RSI seems to be rolling over, but not definitive yet. Relative performance also nearing historical MT channel since 2011/2012 Potential Risks Historically international stocks do not seem to offer much protection during downturns. In fact, they seem to underperform SPY. SPY outperformance could continue awhile longer.
SP:SPXShort
by asdf098
$PAYC attractive entry point (3/5)Conviction: 3/5 could drop further to match RSI hitting solid line (oversold) General Thesis weekly RSI almost touching oversold levels, which have been pretty good entry points Currently hovering around support line of channel established in July 2014 Growth Gross margins (80%) is a lot higher than past few years Revenue growth (30%) is about historical average, bounce from lows in 2020 Value P/S around 75th percentile, although very high compared to rest of market P/FCF is quite high Potential Risks could drop to support (June 2018) history is a little short, only goes back to 2014
NYSE:PAYCLong
by asdf098
1
Did the January Barometer just signal a crash?The January Barometer is a statistical phenomenon that looks back at the last 50+ years of the SPY's history and states that (as of last year): A POSITIVE close in January has a 83% chance of a positive year A NEGATIVE close in January has only a 65% chance of a positive year (we just had this happen) A POSITIVE close in January has a 70% chance of a positive February A NEGATIVE close in January has a 60% chance of a negative February January 2020 had a negative close but ended the year positively which made it fall within the 65% probability expect. However, that January did correctly predict a negative February which had a 60% chance of happening. These are only statistics... no one KNOWS the future... but understanding this concept should hopefully give traders some insight on how to position themselves going into next month, the rest of the quarter, and the rest of the year!
AMEX:SPYShort
by norok
5
XAUUSD Golden MovementDear Traders, Gold shows a clear up trend. According to Elliott Wave, we are in wave 5. If you look at the chart, wave 1 of wave 5 is created and broke the resistance then backed below that to create wave 2. Based on the formula 0.68% already wave 2 is created and it gets ready for wave 3 which will move to 2146.28. Then we will have wave 4 which will pull back to 2073. The last wave will lead the market to rate 2263.61 which I will close my buy position in that rate. I have entered to to market at rate 1839. Hope to make good money until March. Good luck.
OANDA:XAUUSDLong
by FireXForex
2
BTC January Selloff Effect - Historic Corrections 2016-2020January has historically been one of the worst months for Bitcoin, thus extreme caution should be taken on the long side as I have mentioned earlier. Here we can see the early January profit taking and selloffs since 2016. Since Bitcoin just crashed around -20% in 2 days, this year might not be any different. The US Dollar has also been gaining upwards momentum recently. As Bitcoin is inversely correlated with the USD, Bitcoin's chances this month will be decreased further if USD continues to go up in value. I am currently looking at 30k as a support and accumulation area, and I am still very optimistic for Bitcoin this year, but that will be for another post. For now, I would suggest to keep an eye on the DXY (US Dollar Currency Index) and plan ahead for a possible comeback for Bitcoin in late January or later. What do you think?
COINBASE:BTCUSDShort
by Gajoo
BTC and the first full week in JanuarySince the new year is upon us, I thought I'd take a look at what has happened in the past during the first full trading week contained in January. So, what this means is, the date at which a new weekly candle first starts in January, thus you see the dates marked are NOT 1st January of each year. I measure from the prior day's close, which is the same as the open price of the new week. There is an edge case where a week starts in Jan 1, but since the prior close is on Dec 31, I decided to use the week starting Jan 7. The result doesn't differ much and remains consistent with the rest of the data points. In any case, history suggests: The first few days of this trading week seems to always give a chance to take at least 1% profit from the open on a long position. Rarely does the any short term downside take out the prior day's low, so it could be sensible to put a stop loss just below the wick. Failure to secure profits may lead to losses of 13% to 18% by the close of the week in question. So, based on the past decade of price action, as long as profits are secured at +1% from the closing price of the prior day, losses can be sidestepped and further potential gains acquired. The sample size is quite small (10), and I haven't looked into other aspects. (i.e., this behaviour could just be the result of an asset that has been trending up exponentially for the past 10 years). The first full trading week of 2021 starts on January 4th.
BNC:BLXLong
by TraderRegis
SXP - Nearing the End of it's Consolidation Cycle? 2021 Boom?SXP has been experiencing a significant downtrend since it's Soaring August high of almost exactly $5. Swipe has been one of my favourite alts since release as it has until the last few months had crazy volatility and gives a VERY healthy yield return for hodling (I wonder why the sell walls get so clogged up on this chart... hmmmm????) We look to be nearing the end of the cycle in the next few weeks: Clear consolidation can be seen taking place confirmed by volume (save for a few weird outliers). We're oversold on RSI, and MACD is fighting it's way back up the mountain. I suspect January 2021 we'll see a very significant increase across the ALT market, and I believe SXP will easily achieve the marked targets within the next 1.5 ish months. This is not financial advice.
Long
by cryptosince1963
5