GBP & Gold Reaction to UK Inflation and US Rate HikeTwo significant events have occurred within the past 12 hours, causing both GBPUSD and gold prices to surge.
The first event was the unexpected rise in UK inflation, which jumped from 10.1% in January to 10.4% in February 2023, marking the first increase in four months. The primary factor behind this increase was the soaring food and drink prices, which surged at the fastest pace in 45 years. This inflation reading may fuel arguments that the Bank of England needs to boost interest rates again. However, the data might have arrived too late to impact the Bank's interest rate decision, which is due tomorrow. Nevertheless, the GBP rallied against the USD, before subsiding, and then rallying again on the news of the second event.
The second event occurred an hour ago, with the US Federal Reserve announcing its latest interest rate decision, which included a 25-basis-point hike. While most of the market had anticipated this move, some participants believed that the Fed might pause its rate hikes. In the post-decision address, Fed Chair Jerome Powell acknowledged that recent economic indicators, particularly job data, have come in stronger than expected. However, Powell noted that the recent turmoil in the banking sector should result in tighter lending conditions, which will help combat the robust economic data. Nonetheless, Powell added that it was too early to determine how monetary policy should respond to the recent banking crisis, but it will play a role in future rate hike decisions.
Gold is following a similar path to the GBP/USD and appears to be encountering some resistance at $1,970.
Long-short
20/03/23 Weekly outlookLast weeks high: $28435.9
Last weeks low: $25136.9
Midpoint: $21837.8
Huge rally for BTC last week! pushed past a key level of 25.5k, a level we have been under since 14th June of '22.
We are now working in the 25.5k - 32.5k range and it's important to secure price above the previous high. acceptance in this range should see us work towards the mid range at 29.2k before 32.5k.
It's hard to know what the near future holds because of the macro banking financial worries. However, it's important that crypto performs well when legacy banking doesn't, that's the whole point of the technology originally.
P2P | Deep Dive Into My SetupsHello family! Sending you all love and light today.
So I wanted to do an in-depth video about my style of attacking the markets now. I unlocked a new way to view my trades and I believe it just leveled up my confidence a TON!
So I will keep this description brief and go along with the day.
Thank you guys and gals, lets keep making it happen on trade at a time!
USDJPY I How to trade it ahead of FOMC!Welcome back! Let me know your thoughts in the comments!
** USDJPY Analysis - Listen to video!
We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met.
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SP500 break out or dive into the deep?No need for a long description every info is present on the chart.
Filter out the news noise, charts and price action will tell you or at least indicate you what will happen with the price way before news comes up to your TV screens. Dont you find it super suspicious that every "major" news comes up exactly when price is making break out from important levels? For example weekly, monthly levels, historical highs, lows etc..
Follow the price action - stare at the charts not at the TV screens.
XEMUSDT - NEM - LONG & SHORT TradeXEMUSDT - NEM
SHORT - after crazy pump into the Fib 0.382 Retracement and
fall back under the key level while taking liquidity from the previous double top.
LONG - after a massive fall right into the intersection
between the middle of the downsloping channel and the new rising channel exactly at Fib 0.886 Retracement.
TP1 & TP2 secured letting rest ride.
easy analysisThe previous analysis was completely correct
But now the situation is special
There are 2 scenarios
The first scenario from here is that 24 attacks the range of 27 to 29 and a drop occurs
The second scenario from here is to correct $24,000 to the range of 18,500 to 19,200 and then go to $32,000-35000
MATICUSDT Daily S/R| Psfp| .618| Price Action Evening Traders,
Today’s analysis – MATICUSDT- rejecting from a key level, a bearish retest will allow for a short,
Points to consider,
- Price action impulsive
- Daily S/R Resistance
- .618 Fibaoncci Confluence
- Rotataional Range
MATICUSDT’s immediate price action is trading at an area of resistance that has technical confluence with the .618 Fibonacci and Daily S/R, allowing for a bearish bias.
Price action breaking the current local order block will increase the probability of a deeper pullback.
The immediate objective is the lower Daily S/R support, how price action reacts here will dictate the overall trend.
Overall, ub my opening, MATICUSDT is a valid short with defined risk, price action is to be used upon discrtrtion/ management.
Hope this analysis helps
Thank you for following my work
And remember,
Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
BITCOIN to $4484 or infinity: full crackdownBITCOIN to $4484 or infinity: full crackdown
For BULL rally: BTC will first RALLY to $25k and will then RETRACE back to give FAKEOUT before giving us a REAL BULL RALLY to INFINITY.
For BEAR RALLY : if BTC failed to hold HOLYGRAIL and ATF levels ($15881 & $14765 resp), BTC will fall to DEPRESSION level which is sitting at $4484.
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BTC Price Live Data
The live Bitcoin price today is $19,916.96 USD with a 24-hour trading volume of $37,571,784,387 USD. We update our BTC to USD price in real-time. Bitcoin is down 8.02% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $384,660,279,834 USD. It has a circulating supply of 19,313,206 BTC coins and a max. supply of 21,000,000 BTC coins.
If you would like to know where to buy Bitcoin at the current rate, the top cryptocurrency exchanges for trading in Bitcoin stock are currently Binance, OKX, Bybit, Deepcoin, and BingX. You can find others listed on our crypto exchanges page.
What Is Bitcoin (BTC)?
Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.
Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”
Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.
Who Are the Founders of Bitcoin?
Bitcoin’s original inventor is known under a pseudonym, Satoshi Nakamoto. As of 2021, the true identity of the person — or organization — that is behind the alias remains unknown.
On October 31, 2008, Nakamoto published Bitcoin’s whitepaper, which described in detail how a peer-to-peer, online currency could be implemented. They proposed to use a decentralized ledger of transactions packaged in batches (called “blocks”) and secured by cryptographic algorithms — the whole system would later be dubbed “blockchain.”
Just two months later, on January 3, 2009, Nakamoto mined the first block on the Bitcoin network, known as the genesis block, thus launching the world’s first cryptocurrency. Bitcoin price was $0 when first introduced, and most Bitcoins were obtained via mining, which only required moderately powerful devices (e.g. PCs) and mining software. The first known Bitcoin commercial transaction occurred on May 22, 2010, when programmer Laszlo Hanyecz traded 10,000 Bitcoins for two pizzas. At Bitcoin price today in mid-September 2021, those pizzas would be worth an astonishing $478 million. This event is now known as “Bitcoin Pizza Day.” In July 2010, Bitcoin first started trading, with the Bitcoin price ranging from $0.0008 to $0.08 at that time.
However, while Nakamoto was the original inventor of Bitcoin, as well as the author of its very first implementation, he handed the network alert key and control of the code repository to Gavin Andresen, who later became lead developer at the Bitcoin Foundation. Over the years a large number of people have contributed to improving the cryptocurrency’s software by patching vulnerabilities and adding new features.
Bitcoin’s source code repository on GitHub lists more than 750 contributors, with some of the key ones being Wladimir J. van der Laan, Marco Falke, Pieter Wuille, Gavin Andresen, Jonas Schnelli and others.
What Makes Bitcoin Unique?
Bitcoin’s most unique advantage comes from the fact that it was the very first cryptocurrency to appear on the market.
It has managed to create a global community and give birth to an entirely new industry of millions of enthusiasts who create, invest in, trade and use Bitcoin and other cryptocurrencies in their everyday lives. The emergence of the first cryptocurrency has created a conceptual and technological basis that subsequently inspired the development of thousands of competing projects.
The entire cryptocurrency market — now worth more than $2 trillion — is based on the idea realized by Bitcoin: money that can be sent and received by anyone, anywhere in the world without reliance on trusted intermediaries, such as banks and financial services companies.
Thanks to its pioneering nature, BTC remains at the top of this energetic market after over a decade of existence. Even after Bitcoin has lost its undisputed dominance, it remains the largest cryptocurrency, with a market capitalization that surpassed the $1 trillion mark in 2021, after Bitcoin price hit an all-time high of $64,863.10 on April 14, 2021. This is owing in large part to growing institutional interest in Bitcoin, and the ubiquitousness of platforms that provide use-cases for BTC: wallets, exchanges, payment services, online games and more.
Related Pages:
Looking for market and blockchain data for BTC? Visit our block explorer.
Want to buy Bitcoin? Use CoinMarketCap’s guide.
Want to keep track of Bitcoin prices live? Download the CoinMarketCap mobile app!
Want to convert Bitcoin price today to your desired fiat currency? Check out CoinMarketCap exchange rate calculator.
Should you buy Bitcoin with PayPal?
What is wrapped Bitcoin?
Will Bitcoin volatility ever reduce?
How to use a Bitcoin ATM
How Much Bitcoin Is in Circulation?
Bitcoin’s total supply is limited by its software and will never exceed 21,000,000 coins. New coins are created during the process known as “mining”: as transactions are relayed across the network, they get picked up by miners and packaged into blocks, which are in turn protected by complex cryptographic calculations.
As compensation for spending their computational resources, the miners receive rewards for every block that they successfully add to the blockchain. At the moment of Bitcoin’s launch, the reward was 50 bitcoins per block: this number gets halved with every 210,000 new blocks mined — which takes the network roughly four years. As of 2020, the block reward has been halved three times and comprises 6.25 bitcoins.
Bitcoin has not been premined, meaning that no coins have been mined and/or distributed between the founders before it became available to the public. However, during the first few years of BTC’s existence, the competition between miners was relatively low, allowing the earliest network participants to accumulate significant amounts of coins via regular mining: Satoshi Nakamoto alone is believed to own over a million Bitcoin.
Mining Bitcoins can be very profitable for miners, depending on the current hash rate and the price of Bitcoin. While the process of mining Bitcoins is complex, we discuss how long it takes to mine one Bitcoin on CoinMarketCap Alexandria — as we wrote above, mining Bitcoin is best understood as how long it takes to mine one block, as opposed to one Bitcoin. As of mid-September 2021, the Bitcoin mining reward is capped to 6.25 BTC after the 2020 halving, which is roughly $299,200 in Bitcoin price today.
How Is the Bitcoin Network Secured?
Bitcoin is secured with the SHA-256 algorithm, which belongs to the SHA-2 family of hashing algorithms, which is also used by its fork Bitcoin Cash (BCH), as well as several other cryptocurrencies.
Bitcoin Energy Consumption
Over the past few decades, consumers have become more curious about their energy consumption and personal effects on climate change. When news stories started swirling regarding the possible negative effects of Bitcoin’s energy consumption, many became concerned about Bitcoin and criticized this energy usage. A report found that each Bitcoin transaction takes 1,173 KW hours of electricity, which can “power the typical American home for six weeks.” Another report calculates that the energy required by Bitcoin annually is more than the annual hourly energy usage of Finland, a country with a population of 5.5 million.
The news has produced commentary from tech entrepreneurs to environmental activists to political leaders alike. In May 2021, Tesla CEO Elon Musk even stated that Tesla would no longer accept the cryptocurrency as payment, due to his concern regarding its environmental footprint. Though many of these individuals have condemned this issue and move on, some have prompted solutions: how do we make Bitcoin more energy efficient? Others have simply taken the defensive position, stating that the Bitcoin energy problem may be exaggerated.
At present, miners are heavily reliant on renewable energy sources, with estimates suggesting that Bitcoin’s use of renewable energy may span anywhere from 40-75%. However, to this point, critics claim that increasing Bitcoin’s renewable energy usage will take away from solar sources powering other sectors and industries like hospitals, factories or homes. The Bitcoin mining community also attests that the expansion of mining can help lead to the construction of new solar and wind farms in the future.
Furthermore, some who defend Bitcoin argue that the gold and banking sector — individually — consume twice the amount of energy as Bitcoin, making the criticism of Bitcoin’s energy consumption a nonstarter. Moreover, the energy consumption of Bitcoin can easily be tracked and traced, which the same cannot be said of the other two sectors. Those who defend Bitcoin also note that the complex validation process creates a more secure transaction system, which justifies the energy usage.
Another point that Bitcoin proponents make is that the energy usage required by Bitcoin is all-inclusive such that it encompasses the process of creating, securing, using and transporting Bitcoin. Whereas with other financial sectors, this is not the case. For example, when calculating the carbon footprint of a payment processing system like Visa, they fail to calculate the energy required to print money or power ATMs, or smartphones, bank branches, security vehicles, among other components in the payment processing and banking supply chain.
What exactly are governments and nonprofits doing to reduce Bitcoin energy consumption? Earlier this year in the U.S., a congressional hearing was held on the topic where politicians and tech figures discussed the future of crypto mining in the U.S, specifically highlighting their concerns regarding fossil fuel consumption. Leaders also discussed the current debate surrounding the coal-to-crypto trend, particularly regarding the number of coal plants in New York and Pennsylvania that are in the process of being repurposed into mining farms.
Aside from congressional hearings, there are private sector crypto initiatives dedicated to solving environmental issues such as the Crypto Climate Accord and Bitcoin Mining Council. In fact, the Crypto Climate Accord proposes a plan to eliminate all greenhouse gas emissions by 2040, And, due to the innovative potential of Bitcoin, it is reasonable to believe that such grand plans may be achieved.
What Is Bitcoin’s Role as a Store of Value?
Bitcoin is the first decentralized, peer-to-peer digital currency. One of its most important functions is that it is used as a decentralized store of value. In other words, it provides for ownership rights as a physical asset or as a unit of account. However, the latter store-of-value function has been debated. Many crypto enthusiasts and economists believe that high-scale adoption of the top currency will lead us to a new modern financial world where transaction amounts will be denominated in smaller units.
The smallest units of Bitcoin, 0.00000001 BTC, are called Satoshis (or Sats in short), in a nod to the pseudonymous creator. At Bitcoin price now, 1 Satoshi is equivalent to roughly $0.00048.
The top crypto is considered a store of value, like gold, for many — rather than a currency. This idea of the first cryptocurrency as a store of value, instead of a payment method, means that many people buy the crypto and hold onto it long-term (or HODL) rather than spending it on items like you would typically spend a dollar — treating it as digital gold.
Crypto Wallets
The most popular wallets for cryptocurrency include both hot and cold wallets. Cryptocurrency wallets vary from hot wallets and cold wallets. Hot wallets are able to be connected to the web, while cold wallets are used for keeping large amounts of coins outside of the internet.
Some of the top crypto cold wallets are Trezor, Ledger and CoolBitX. Some of the top crypto hot wallets include Exodus, Electrum and Mycelium.
Still not sure of which wallet to use? Check out CoinMarketCap Alexandria’s guide on the top cold wallets of 2021 and top hot wallets of 2021.
P2P | DXY UpdateHello. Hi. Hey there!
So this is another DXY update following my previous mark ups. I want to keep posting these because 1. They've been fairly accurate and 2. Its helping you (also me) with identifying potential long term/short term plays.
I mentioned that I am overall #bullish on the dollar and the way price reacted to my levels... bittersweet (,:
But I also go over some other trade setups and most of them I wasn't able to cut it short so, yeah, looks like I got blown out lol.
No worries though, all a learning process! So thank you guys and gals for coming onto the channel. Make sure if you feel like you're getting #value from this content to #boost the page and drop a #comment of what you learned or something you've noticed in my charts that concerns you.
Thanks gang, trade well, stay healthy! 2023? Yeah, its that time *evil genius laugh*
ETHUSDT POC| .618 Fibonacci| Price Action| Trend Today’s analysis – ETHUSDT – trading at a very pivot where a bullish expansion is probable,
Points to consider,
- Price Action Corrective
- POC Support
- .618 Fibonacci Pocket Support
- Daily S/R Support
ETHUSDT’s immediate price action is trading at a key support region that is in confluence with the .618 Fibonacci, POC, and the Daily S/R – allowing for a bullish bias.
The immediate objective is the Monthly S/R, exceeding this region will lead to a trend continuation
Overall, in my opinion, ETHUSDT is a valid long with defined risk; price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
A given skill is mastered only when consistently performed under intense pressure. If this isn’t the case, keep working on this skill until it’s proven to consistently show up under pressure. – The Mental Game of Poker
Gold buys till 20000Hey guys it been a while on here ,I miss posting daily analyses , but we back and currently we looking at gold for the past two weeks price been on a downtrend and so the trend id over and buyers are taking the new lead , i will be looking to buy gold till 20k,we could see gold
reach this point
1956.3 if gold
breaks through
1900..
16 R Front Side/Back Side Trade on BitcoinEIGHTCAP:BTCUSD
I'm currently in this trade to the long side for the majority of the overall move (12 R) , but there's still a chance to capture the potential 4 R trade to the downside.
I'm expecting the bulls to push the price up to the pre-break level and take out that imbalance before making a move back to the downside and test previous support, both of which lines up with ATR.
LONG--SHORT
P2P | SPX - Mark upHey there trading family, just wanted to drop a few transparent pieces relating to any recent posts about #DXY.
As I mentioned, I am overall bullish on the #dollarindex due to numerous reasons I explained in the videos. This mark up on SPX was on of the chart ideas I had from this previous week and my long term analysis was correct!
So going over this trade, I'm simply using opposing forces combined with some #smt #ict knowledge of time and price (for the most part) and forming an idea around what SPX could proceed with next week.
Now for the record I don't normally trade SPX so this was a step out of my comfort zone. I wanted to post it to show that, becoming a great you must accept loses, so in my mind I'm already thinking "this could go horribly right or beautifully wrong" lol but either way I'm okay with the risk so I would be okay with the trade.
In conclusion I believe we will see SPX continue to fall but only in correlation to the dollar index. This mark up is more set on a long term Q by Q play so I will update the trade periodically!
& No more disclaimers, I expect everyone who follows the channel to be wise enough and financially competent to trade at their own risk.
Love yall, trade well, and make it your mission to put the work in all 2023!
nzdusd sellprice has obvious bearish structure. nzdusd made a head and shoulder pattern and created the head which rejected off the last lower low 62500. price broke the head and shoulder patterns and seem to have just retested before continuing the head and shoulders pattern. price may create a double bottom at 62000 and go up. i aimed for a 1.5 rr to be safe