15.43 Million SHIB Burned Meanwhile, the cryptocurrency markets continue to dive deeper in the red. In the last 24 hours, meme token Shiba Inu has lost approximately 12 percent, dropping to $0.0000231 by now.
In the past seven days, the Dogecoin rival SHIB has lost more than 23 percent of its market value.
At press-time, SHIB remains on spot 14 on the CoinMarketCap scale with the market capitalization of $12,613,387,270.
Markets
Dogecoin price readies for a 35% crash as tension between RussiaDogecoin price is currently hovering on a critical support level, a breakdown of which could lead to a steep correction, but a bounce could trigger a new uptrend. Therefore, investors need to be cautious as crypto markets have turned volatile due to the ongoing war between Russia and Ukraine.
BTC crashed to $35,000 after news of Russia launching attacks on Ukraine emerged, causing Dogecoin and other altcoins to crumble as well.
Gold Up 7%, Bitcoin Down 25%The decline has challenged earlier notions of Bitcoin being a viable gold alternative, considering its decentralized nature and general detachment from the broader financial space. These aspects of the currency were widely lauded during Bitcoin’s stellar rally last year, where it surged to nearly $70,000.
But while the rally was indeed steep, a large portion of it was backed by institutional interest in the token. The influx of big investment houses has seen Bitcoin behave more like conventional markets, specifically, stocks.
Losses in Bitcoin this year have mirrored those in the tech-heavy Nasdaq index, which is down about 22%.
Gold the preferred inflation hedge?
Fears of rising inflation had also seen markets tout Bitcoin as a potential inflation hedge, ie, returns on the currency would be consistently above annual inflation rates.
But with the token trading down for the year, such a notion seems rendered moot. Gold on the other hand, is trading close to the level of annual inflation in the U.S.- which had surged by 7.5% in January. The reading had rattled crypto markets earlier in February, while supporting gold.
Bitcoin’s recent sensitivity to inflation also makes it averse to rising interest rates. A bulk of the token’s decline this year has been driven by hawkish signals from the Federal Reserve, which has planned a rate hike in March.
Bitcoin dips 12%In a move that seemed to catch markets by surprise, reports were flowing in of a feared three-pronged attack on Ukraine at the time of writing, with the West already promising more severe sanctions as a result.
Bitcoin, already trading in line with stocks instead of acting as a safe haven, thus showed uncertainty of its own, declining over 12.2% from Wednesday’s local highs to hit $34,300.
Asian stocks were already feeling the pressure, with Hong Kong’s Hang Seng index down 3.5% and the Nikkei reaching a 15-month low.
As traders waited to see the full impact on European and United States stock markets, Bitcoin market participants took stock of what the geopolitical events could mean for the largest cryptocurrency.
“So there are arguments both ways for what should be happening to BTC right now. I’m not really sure I would have guessed it would go down based on the fundamentals. But it is down, a lot! Why?” Sam Bankman-Fried, CEO of trading giant FTX, queried in a series of tweets Thursday.
BTC price dips below $40KBitcoin (BTC) fell through $40,000 as Wall Street opened on Feb. 18 with analysts watching lower levels.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD teasing a $40,000 breakdown throughout Feb. 18, with several attempts seeing bounces higher before the level finally gave way.
QQQ Weekly Volume is Spelling F The Fed!It's clear as day. It's imposible not to see it. You look at the volume and you say to yourself, wow, that looks exactly like the markets giving the bird to the Fed.
They are in a tantrum, everyone is a crying weenie baby sissie paper handed bi*** and the markets are calling the Fed to rescue them as they always do.
It's like a pavlovian response, a dog like response.
6% Decline could be on its way
Hey guys, following up with my last few post I have exited the position I outlined last as I didn't want to hold it during the CPI announcement and it hit the .5 on the Fib and broke the uptrend line. New position entered after the market has reacted to the inflation news and we face the definite reality of the Fed tapering harder then first expected. My first target is a 6% fall to the yellow support line as on the daily it has many touches early in 2021 and most recently as seen in 2022 where it stopped the first fall. I'm using Citi Mini warrents so risk to reward make it.
But I want to stress this is just one leg of a decline/bear market/ crash in motion and has been for the past 2 months. As soon as we broke the channel we had been in for two years we should know it wasn't going to go any higher then that and on my next post I outline the bigger move overall. But the main theme is to watch the VIX as it has held trend and Silver which is returning to my support line and if broken we are looking at a much bigger leg down then 6% on the US100, more likely to fall 17% to the next major support line.
First trade up was
30% gain
Target for second trade down is
60% gain
Traders' guide: 10 yr Yield + markets positively linkedFirst - if you think markets always move opposite to yields, please be open to learning something new. Covariance, in statistics, is the relationship between two random variables. This chart indicates periods of negative (blue) and positive (yellow) covariance between the 10 year yield and SPY. If you think about it, this makes sense because there are times when rising rates give investors more confidence in the economy. Traders can benefit from knowing the general relationship.
> Yields change in response to central bank activity - I cannot explain why the covariance flips
> Other factors influence markets but yield is reliable for intraday moves
> 1.77 has been key support for the yield recently, and hence for markets
> Above 1.83, markets get spooked and covariance becomes negative (you can see this in yellow boxes also)
> Below 1.74,1.73 should increase selling momentum
How am I using this information to plan trades?
> I believe yields will drop further and take markets lower, so I am looking for swing put trades
> This strong upward rally has brought indices and stocks to moving average and price resistance areas, which technically also indicate swing puts
> I have successfully day traded DIA and QQQ calls and puts using yield changes a guide
> I was too early in buying swing puts on 31 Jan, but since they expire 18Feb I can hold the loss for now
> As I finish writing this, yield moved up from 1.748 to 1.771 and markets have also been moving up - I see this as a good time to buy swing puts
When Trends Emerge... Embrace Them!The price of any asset is always the correct price because it is the level where buyers and sellers meet in a transparent environment, the marketplace. A price trend is the most accurate reflection of the market’s sentiment. When buyers are more aggressive, prices rise, and when sellers overwhelm buyers, prices decline.
The stock market trend reversed
The S&P 500 is the leading stock market index
The trend bent
Ride the wave until the technical position changes
Never try to pick a top or bottom; the market’s sentiment will tell you all you need to know
In his 2004 book, The Wisdom of Crowds, author James Surowiecki used case studies to prove that “the many are smarter than the few, and how collective wisdom shapes business, economies, societies, and nations.” A price trend embodies Surowiecki’s work, and that is why the trend is always a trader or investor’s best friend.
When I first began my trading career in the early 1980s, my mentors taught me never to “fight the tape.” They were old-school traders who learned their craft in the days when stock prices were printed on a ticker tape. Fighting the tape is going against the trend.
When the path of least resistance of a market changes from bullish to bearish or vice versa, it is a signal to take profits, losses, and reverse a risk position. The most successful trend-following traders and investors ride trends until they bend, aiming to take the most significant percentage of profits from a bullish or bearish price pattern.
There can be plenty of false signals that lead to choppy results but catching a significant trend and riding it like a surfer rides a wave can be gratifying and highly profitable. The recent price action in the US stock market points to a significant trend change from bullish to bearish.
The stock market trend reversed
After reaching a record high of 4,808.25 on January 4, the March E-Mini S&P 500 futures contract ran out of upside steam, reversed, and has made lower highs and lower lows.
The chart highlights the decline to the most recent low of 4,212.75 on January 24, a 12.4% decline in only twenty days. The futures contract was around the 4,420 level at the end of last week, closer to the recent low than the early January high.
The Fed’s more hawkish approach to monetary policy has weighed on the stock market as stocks compete with bonds for capital. Moreover, the geopolitical landscape has likely caused selling as tensions between the US and Russia have risen to a post-Cold War high.
The S&P 500 is the leading stock market index
The S&P 500 is the most diversified stock market indicator and the bellwether for monitoring the overall equities asset class.
While the recent selloff may appear as another speed bump, a close below the 4,495.12 level on January 31 would put in a bearish key reversal trading pattern on the monthly S&P 500 chart.
A bearish reversal in Bitcoin and Ethereum on November 10 led to a price implosion in the cryptocurrency arena that took prices over 50% lower at the most recent lows last week. The S&P 500 closed more than 60 points below the critical level on January 28.
The trend bent
Trends reflect market sentiment. As we move into 2022’s second month, the stock market looks more than shaky. Higher interest rates, geopolitical problems, COVID-19 variants, rising inflation, supply chain bottlenecks, the potential for rising US corporate and individual tax rates, and other issues have caused selling to emerge in the equities market.
There have been plenty of false signals in the stock market over the years. However, when corrections occur, they can be brutal. The last substantial correction took the S&P 500 from 3,393.52 in February 2020 to a low of 2,191.86 in March 2020 as the worldwide pandemic gripped markets. The 35.4% drop from one month to the next was a reminder that when the trend bends, it is best to follow the sentiment. The cost of trend-following is choppy results when markets display false breakdowns or recoveries. When trends emerge, the profits can more than compensate for short-term losses. The bullish trend in the US stock market bent in early 2022 and is now bearish at the end of January.
Ride the wave until the technical position changes
Trend-following is like surfing. It can take a long time to paddle around through small waves until a substantial one appears on the scene. Surfers look to ride the wave when it arrives.
The S&P 500 has already dropped by over 12% in January, and a bearish reversal at the end of January could cause even more follow-through selling. Daily price volatility has increased, and rallies during a bearish trend can be particularly nasty for those holding short risk positions; thus, the term “rip your face off rally.” The critical factor in trend following is to begin riding the wave early so that you can stomach the ups and downs that naturally occur as the market gyrates between higher and lower prices on an intra-day and even intra-week basis.
Those gyrations can cause the emotional impulses that cause many traders and investors to lose money or minimize profits. For trend-followers with the fortitude to suppress emotions, riding the bullish or bearish wave until it changes direction is the formula that separates winners from losers over time.
Never try to pick a top or bottom; the market’s sentiment will tell you all you need to know
Our emotions want us to be correct, and the emotional impulses are more concerned with calling a direction than profiting from the market. It is virtually impossible to call bottoms or tops in markets consistently, and successful trend-followers tend to be long at the top and short at the bottom. While this may seem counter-intuitive, it is the critical factor for profitability.
Sentiment is a powerful force that often ignores news, expert fundamental analysis, and all other noise that surrounds markets each day. Sentiment creates price trends that indicate the path of least resistance of prices. Picking tops or bottoms denies physics that teaches a body in motion tends to stay in motion. In finance, the trend is your friend until it bends is the same construct.
As of the end of last week, the trend in the stock market was bearish, and we will ride the wave until the market sentiment tells us it is time to ride another in the opposite direction. We are constantly long or short the highly liquid markets we trade, and we may get chopped up when sentiment is confused and provides false signals. However, we are always positioned to participate when the big moves come.
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Trading advice given in this communication, if any, is based on information taken from trades and statistical services and other sources that we believe are reliable. The author does not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects the author’s good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice the author provides will result in profitable trades. There is risk of loss in all futures and options trading. Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This article does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.
BITCOIN Meeting Resistance At Key Area $39,000 - WHICH WAY???Bitcoin meeting what appears to be major technical resistance at $39K.
Make no mistake, this could break out to the upside in a squeeze type of fashion. If you trade it long in this set up - a case for which there is technical evidence - I would suggest conservative profit taking.
My overall view remains short for now, but it is at a KEY AREA!
God Bless
All Indexes and Crypto Leaders have found good support!In this 5 minute update:
* I want to leave traders with a more optimistic perspective. In the last video update, I failed to point out all of the positive indicators that I am seeing in the market. I review all the support levels that have been found on the indexes and crypto leaders.
The Wonderful Patterns of BitcoinBitcoin is oversold and sellers are EXHAUSTED.
Bitcoin is showing a swing high, swing low pattern that is similar to beginning of 2021 and mid-2021.
This makes it so hard to be bearish...
Bitcoin's technical indicators, on-chain analytics, historical data, and short-term fundamental outlook is becoming increasingly bullish by the day.
WHAT HAS HAPPENED OVER THE PAST YEAR?
- Bitcoin rallied ( swung high ) to $40K Q121
- When that happened, the market was in intense euphoria and extreme greed
- Then, it fell to $30K (causing fear)...
...Shortly thereafter, Bitcoin soared to new ATHs- $64K!
- More recently, Bitcoin rallied ( swung high ) to ~$52K in Q3 of 2021
- Once more, causing extreme greed at the high of the swing
- Now, it has fallen to $40K (causing fear)
- Bitcoin has retraced to $40K ( prices not seen since last year! ) and market sentiment is overall bearish and there is extreme fear and panic
So, will history repeat itself? Will Bitcoin soar to new ATHs?
The pattern we are looking at it is very similar... IMO, We could see Bitcoin grind down to $40K, and then rally to T-1 ($58K) and swing low again to $40-44K region before rallying to new ATHs ($90K price target). T-2 ($69K) would reclaim prior ATHs and if it flips to support, Bitcoin will rocket towards $100K.
If it does that...
- The BROADER MARKET SUPPORT is a key TL that will need to hold if bulls want to see new ATHs
- Falling below The Broader Market Support will break the bullish market structure and cause a bear market
- RSI signaled bearish divergence in the beginning of 2021 and Q421... something to watch*
- RSI was choppy during the slow grind down to ~$30K in summer
- MACD will show a bearish cross into a final rally and then it will be met with resistance at ATHs and sell off into the bear market
*if RSI forms bearish divergence, it would be smart to start to unload profits...
Bitcoin is going to shock the world by recovering to an unprecedented rally to new ATHs. The patient will be rewarded. HODL!
Good Luck,
- Mr. Bitcoin Baron
BTCUSD D1 - Long EntryBTCUSD D1
As mentioned before (see reply post). We expected a bounce from this support price here, our $40k mark. Pushing 7.5% from this rally so far, with a possible 15% corrections in total before the next possible downside wave.
$40k zone still valid and holding effect, great to see, gives us confidence going forward.
Bearish DIv on the DJIThe market is extremely overheated, overbought, and is reaching a peak.
US equities have been going up since March '20 and some traders are worried about a looming depression. The concern is valid. The government keeps printing money, spending money, raising the debt ceiling, COVID is STILL spreading, CDC changing guidance, tapering, interest rates, etc! YA-da-ya-da. IT feels like there are so many moving parts - how do you make sense of them?
You just look at the charts and cut out the noise!
After further review, the stock market is going to crash, it is just a matter of when and why. I believe the catalyst will be a news event that causes a massive sell-off, then, a dead cat bounce, followed by risk off event that sends US equities in a multiyear depression. Looking at the yearly chart of the $DJI from 1987-2021. There is massive bearish divergence there. There is even bearish divergence from '87-'21 on the RSI!
EVERYTHING is overbought. COVID accelerated the transition to digitization and increased people's dependence on the internet. People are saving way more now too which is why the velocity of money has decreased... people are buying assets, houses, gold, and bitcoin. People are waking up and realizing that the US government has been debasing our currency since 1970. And they will continue to do so! People want to own assets, people want to save, people want to be protected from inflation. Robinhood helped democratize trading and access to the stock market and retail has played an increasingly important role in the market.
I believe the market is set to crash next summer and that there will be a multiyear depression. Hyperinflation or stagflation seem to be the most likely scenarios as well. Runaway inflation will be the story. Biden's administration will be the scapegoat. Because let's be honest, every president is only concerned about one thing: getting RE-ELECTED. They don't care how much money they have to print, how much money they have to raise or how much debt they have to finance. Every politician, from Reagan, to Bush, to Obama to Biden, has continued to destroy the US currency. It will be no different with next president we "elect". In other words, Biden's administration is scapegoat for all of Washington and every state actor who has a role in fiscal and monetary policy.
The market is overvalued, propped up by fear and a QE, and is facing a whirlwind of negatives to start 2022. The companies that survive this multiyear depression, will come out twice as strong.
HODL. Buy Bitcoin.
Best of Luck,
LAST BLOWOFF the coming END of buying power Since 1982 the FED has been on full throttle with the M2 money supply . Based on Debt based system anything though of being an Asset has been inflated to which I see a major turn in our Society in this year T he year of the last bubble . I look for a major CRASH into a panic into oct 2022 basis . I do not see anything that can stop what is coming . U.S debt to GDP 127 % and As of Jan 1 2020 everyones tax due is about to soar ! based on gross income . Time to prepare is at an end
"Irrational Exuberance"I was extremely wrong about the US markets since S&P was trading around 3200 I thought the market is trading at the TOP, any how I believe the market is trading at the top now and if there is room to still go up I doubt it would pass the line around 4900
what would follow is a CRASH the longest and fastest crash in human history I could be wrong again
Shib Inu Review meme coin no fluffShib Inu Review meme coin no fluff. I cant say whether or not Shib Inu will reach $1 as it has its own issues to sort out. Is it possible yes is it probable thats where I take issue. I typically advise against buying too much Shib at one time because of its status so at the end of the video I would like to invite you to the Hive platform if you haven't heard of it im elated to introduce you to the platform contact me it you would like my invite code.