Future of RIO, BHP and the sectorI have had a pretty large position in RIO and BHP since end of July 2022, I bought expecting the market to recover and for copper/iron demand to jump from the re-opening of China and the rest of the world. These positions have given me quite the return with their pretty high yields.
Having said this, we can see that the steam from the market's comeback has slowed down, copper, iron and ore prices in general have met some resistance and both RIO and BHP have taken a step back from their highs. I don't think there is much more gain to be made with these stocks even though their structure and their fundamentals are highly attractive.
I like to invest in one sector at a time, trying to spot which one will be the next to glow up. I think the mining and refining sector has had it's run. Therefore, I'll most probably be exiting my positions in both these companies after collecting dividends and the most probable upside from the upcoming earnings.
Extra:
I am mostly exiting my position because of what I said above, but I've slowly started to consider the rising tensions between China and the western world. Though sanctions would be an economical blunder for everyone in play, having your biggest consumers be in a cat fight is certainly not preferable for business.
Mining
Fresnillo: Getting Down for Business 👇Since the end of wave B in turquoise, Fresnillo has been continually getting down for business. And the share should keep going as we expect it to march below both the supports at GBP 610 and at GBP 456.60. There is a 35% chance, though, that the course could turn upwards and climb above the resistance at GBP 997 instead. In that case, Fresnillo should enter the turquoise zone between GBP 1085.80 and GBP 1292.80 to develop a new high in the form of wave alt.B in turquoise before moving southwards again.
SLP: $0.11 | DRAWDOWN for 10x payoutLike Bitcoin when it was at $1100 the rise of miners and amazing demand for mining rigs led to the depression of price back to $200
as big and small miners cashed in FREE COiNS from simply running a PC or FARM 24/7
--
so do AXiE armies cashing in hoarded SLPS together by early PLAYERS
$BTC/USDT 12h (#Bybit) Ascending trendline retestBitcoin just printed a shooting star like 6 months ago, which is a reversal candlestick.
Also, we got a bearish divergence on RSI, this could finally lead to a retracement down to 100EMA.
⚡️⚡️ #BTC/USDT ⚡️⚡️
Exchanges: Binance Futures, ByBit USDT
Signal Type: Regular (Short)
Leverage: Isolated (7.0X)
Amount: 6.8%
Current Price:
23776.0
Entry Zone:
23809.5 - 24317.5
Take-Profit Targets:
1) 22860.5
2) 21954.5
3) 21049.0
Stop Targets:
1) 25070.0
Published By: @Zblaba
$MARA next move = higher $10-12Even though the chart looks like it's forming a H&S top, I think the next move is likely to be higher before we see a breakdown.
I could see $MARA bouncing somewhere between here and $6.80-6.60, then putting in one more move higher to the two resistances above.
Let's see if it plays out this week.
$LTC/USDT 2D (#BinanceFutures)Descending trendline on resistanceLitecoin is approaching overbought territory and seems likely to be rejected on 200MA.
⚡️⚡️ #LTC/USDT ⚡️⚡️
Exchanges: Binance Futures
Signal Type: Regular (Short)
Leverage: Isolated (2.0X)
Amount: 10.1%
Current Price:
81.93
Entry Targets:
1) 83.61
Take-Profit Targets:
1) 65.01
Stop Targets:
1) 96.04
Published By: @Zblaba
Risk/Reward= 1:1.5
Expected Profit= +44.49%
Possible Loss= -29.73%
I always keep an eye on LTC ⚙️Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Here is a detailed update top-down analysis for LTC.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck!.
All Strategies Are Good; If Managed Properly!
~Rich
$LTC/USDT 3D (#Bybit) Descending trendline breakout & retestLitecoin regained 200MA Daily support and seems ready to head back up towards 100EMA.
⚡️⚡️ #LTC/USDT ⚡️⚡️
Exchanges: ByBit USDT, Binance Futures
Signal Type: Regular (Long)
Leverage: Isolated (1X)
Amount: 9.1%
Current Price:
62.63
Entry Zone:
61.18 - 54.30
Take-Profit Targets:
1) 72.98
2) 84.46
3) 95.93
Stop Targets:
1) 44.99
Published By: @Zblaba
Risk/Reward= 1:1.2 | 1:2.1 | 1:3
Expected Profit= +26.39% | +46.28% | +66.14%%
Possible Loss= -22.08%
Fib. Retracement= 0.5 | 0.786 | 1.117
Margin Leverage= 1.7x
Estimated Gain-time= 3-5 months
#LTCUSDT #PoW #MimbleWimble #Blockchain #Dino #Mining
Websites: litecoin.org litecoin-foundation.org
$XMR/USDT 2D (#Bybit) Symmetrical triangle breakdown and retestMonero has pulled back to 100EMA resistance where a rejection would make sense.
⚡️⚡️ #XMR/USDT ⚡️⚡️
Exchanges: Binance Futures, ByBit USDT
Signal Type: Regular (Short)
Leverage: Isolated (3.0X)
Amount: 5.9%
Current Price:
149.70
Entry Zone:
149.65 - 157.95
Take-Profit Targets:
1) 133.15
2) 117.65
3) 102.10
Stop Targets:
1) 171.05
Published By: @Zblaba
Risk/Reward= 1:1.2 | 1:2.1 | 1:3.0
Expected Profit= +40.28% | +70.51% | +100.85%
Possible Loss= -33.65%
Fib. Retracement= 0.441 | 0.618 | 0.883
Margin Leverage= 3x
Estimated Gain-time= 1-2 months
Tags: #XMRUSDT #PoW #Mining #Privacy #Blockchain #Bytecoin #Hardfork
Website: getmonero.org
Contracts:
#Mainnet
#Secret
TRX: Positioned for Significant Growth in 2023TRX Gold Corporation has long been suppressed along with other junior miners. As anyone who has invested in junior miners over the years knows, the bear markets in junior mining stocks are often brutal, with 80-90% drawdowns.
When the bear market ends, however, the asset price has been so suppressed that it can easily spike 1000% or more, as the valuations have, by then, become so absurdly low vs the measured resources in the ground.
TRX has many great things going for it, which are not yet reflected in the stock price.
• The company had long been starved for cash and was forced to issue shares into a down market to fund its development and continued operations. This has placed downward pressure on the stock price along with sector-wide bearish pressures.
• The company has completed and fully commissioned its 1,000 tonne per day processing plant. It is now in full operation. With this plant, the company is now making all the money it needs to fund its operations at the Buckreef mine. No more cash burn or share issuance will be necessary to build a future for this company. A turning point has been reached.
• Gold recoveries using new processing plant are 90%, so they are making good use of the resources they're extracting.
• The exploration drilling at the Buckreef site is continuing to show that the resource may be much larger than originally thought.
• The TRX share price may be breaking out of the recent down-trend.
• With the processing plant in full operation from the beginning of 2023, the company is going to have a tremendous amount of cash to work with, to keep developing the company. Every new investment will lead to even more growth in the company.
• The Buckreef resource has 43-101 resource of over 20,000,000 ounces
• Q4 2022 Cash costs of only $560 per ounce of gold with gold trading around $1700-1800.
The company has consistently delivered on the promises of the current management team and likely will going forward.
Not a sexy stock but....I've been holding this one since a few months back, it wasn't doing anything interesting until now. Uranium and other commodities are in high demand, and will be in 2023 too. Price has formed this triangle since April and closed the last week with an engulfing candle in the weekly timeframe. Is very close to breakout, you can open a small position and add after the break out.
December 26 BTCUSD BingX Chart Analysis and Today's HeadlineBingX’s Bitcoin Chart
Bitcoin has been on a downward trend since it fell from $69,000 to the present without a decent rally. Bitcoin is currently in a low volatility range for a long time, and has yet to see a major upward or downward trend. If BTC can pull back $18, 500, then there is a reasonable chance that the decline will be reversed and a choppy climb will follow. However, there is not enough liquidity in the market for the Christmas holiday, so the cryptocurrency is still down.
Today’s Cryptocurrency Headline
Bitcoin Mining Companies Have Racked Up $4 Billion in Debt This Year
Bitcoin mining companies have been struggling under the weight of a year-long bear market, with collective debt expected to surpass $4 billion by the end of 2022, according to a report from Hashrate Index. The worst case is Core Scientific, which owes $1.3 billion to creditors and has filed for Chapter 11 bankruptcy. Marathon Digital owes about $851 million, but most of it is convertible notes, meaning its creditors can exchange them for stock in the company.
Disclaimer: BingX does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. BingX is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the article.
BITF will pump hard (but not yet) - 270 % profitBITF similary to other bitcoin mining stocks has been in a downtrend since 2021.
Bitfarms Ltd., founded in 2017 and is one of the top Bitcoin Mining Companies.
The price is approaching our buy zone. We expect one more drop to retest lows from 2020 and next the accumulation phase before the explosive move up.
RSI on weekly is already pretty oversold but taking into an account bearish sentiment overall, most likely we see one more drop.
In our opinion this stock is very undervalued now. Once crypto market starts recovering, we expect this stock to recover fast. Bottom for crypto market may be not far away (Many analysts believe that the bottom on BTC will be around 10k-12k $) therefore accumulating BITF may be a good idea too.
Good luck
BITF cyclical trade/investment (3-5 years)There a strong probability that the price can break lows $0.28 lows. But buying at these prices unleveraged is still great opportunity.
In terms of sentiment on financial blogs and social media, most are wholeheartedly predicting the future demise of this stock. Personally, this exact same mentality surrounding this stock at its highs in terms of how they somehow knew it was underpriced and that it had upside potential. As usual the crowd is often wrong. Always a hard pill to swallow for them...
(no bullish sentiment in terms of price action)
There's a lot of uncertainty surrounding bitcoin miners and many are not able to keep up with how things are going.
The risk are undoubtedly high and reward is EXTREMELY high... If they are able to manage this and survive.
Obviously, the need to keep up to date with the crypto market and this stock is needed to determine if the risks are not worth the investment. example -> If something occurs with BITF and they seem to be going the wrong direction and if BTC drops extensively.
I highly doubt that though seems like the majority of the pain and washout has been done and those who got burned left and those who survived will thrive.
Mostly leaves it how macro develops and when it will allow BTC to thrive.
Is BTC profitable?The price of bitcoin is falling.
At the same time, the price of mining is growing.
How does this affect the market?
History
In December 2017 , the price of bitcoin was greatly inflated.
And mining was a very profitable business.
At that time, mining one bitcoin cost around $840 , and bitcoin cost $18700 on the market.
It was a really good deal, everyone started mining.
As we remember, the market and market prices tend to balance and soon in December 2018 , bitcoin fell to a price equal to the price of mining.
After that, the lateral movement began.
As we know, positions usually accumulate at this time. Manners, who did not stop mining, accumulated bitcoin on their wallets, because the price was unattractive for sale.
Soon, the price went up again, reaching inflated values, after which it again headed to equilibrium and fell to the real mining price.
All these are rough numbers, but I think you've caught the logic.
Now the price of bitcoin has fallen below what mining costs.
Recent news has shown that now it has become as difficult as possible to engage in mining.
New York became the first federal state of the United States to adopt a law temporarily prohibiting the mining of cryptocurrencies within its borders.
Now that everything has become so difficult and unprofitable, all newcomers are likely to flee the market.
And when everyone runs away, what should I do?
And what do you think about cryptocurrency now?
Is it worth buying? or is it worth selling?
LTC on the move!BINANCE:LTCUSDT Update to prior chart which was posted a few months back: So far so good. I am seeing this pump to near $96 in coming weeks, month/s before any strong moves back down.
Good news for careful-traders is that the fractals show a return to $56 level after this pump ends - right in time for the pre-halving dump. As history has shown, each LTC halving (mining difficulty increase) is preceded by a pump/dump testing prior levels, before flying to new highs. Expect LTC to continue leading the alt-coin market, serving as a fine canary for other altcoin moves.
Insofar as fundamental analysis for LTC: it has been around as long as BTC, it has survived, it has suffered ZERO network shutdowns in its decade+ existence, and now features the OPTION of private transactions with MWEB. It should be noted that Mimblewimble is the wildcard for LTC during this crypto season. It could halt its growth due to regulatory demands, or it could make it fly to unknown levels - as a market result of regulatory demands.
Not financial advice.
Short Newmont Mining $NEM1. Trend is down over year and half
2. TTM Squeeze that usually bounces off opposite wall before reversing
3. Hitting resistance trendline repeatedly
4. Under 200ema
I could see this ultimately hitting 200ema, which I would dump everything into going short, but this spot is good for a short as well. Always keep more dry powder and don't blow your load in one go!
Fresnillo: ReasonableFresnillo is back to being reasonable and – in accordance with our expectations – has moved downwards again. Now, it should keep up this drive to make it below the support at GBP 456.60 and thus into the turquoise zone between GBP 473.60 and GBP 250.00, where it should finish wave (2) in yellow. There is a 35% chance, though, that Fresnillo could escape above the resistance at GBP 997.60, thus triggering further ascent above the next mark at GBP 1379.
$ETC/BTC 12h (#BinanceSpot) Bull-pennant breakout and retestEthereum Classic is looking bullish in satoshi and seems ready to push higher after Hashrate went up!
⚡️⚡️ #ETC/BTC ⚡️⚡️
Exchanges: KuCoin, Binance
Signal Type: Regular (Long)
Amount: 10.8%
Current Price:
0.001758
Entry Zone:
0.001692 - 0.001548
Take-Profit Targets:
1) 0.0019950
2) 0.0023260
3) 0.0025970
Stop Targets:
1) 0.0013190
Published By: @Zblaba
Risk/Reward= 1:1.25 | 1:2.35 | 1:3.25
Expected Profit= +23.15% | +43.58% | +60.31%
Possible Loss= -18.58%
Fib. Retracement= 0.786 | 1.272 | 1.618
Margin Leverage= 1x
Estimated Gain-time= 5-6 weeks
Tags: #ETC #ETCBTC #PoW #Mining #Ethash #EthClassic #Dino #Hardfork #SC
Website: ethereumclassic.org
Contracts:
#Mainnet
GDX: Rise and Shine! ☀️GDX seems to have woken up and is showing its high spirits by climbing upwards. We now consider wave ii in magenta to be finished, and thus expect the ETF to continue its way above the resistance at $28.83. Once there, GDX should gain even more upwards momentum to rise above the next mark at $40.13 as well. We should still keep in mind our alternative scenario, though, as there remains a 40% chance that GDX could lose its steam and drop below the support at $16.18. in that case, we anticipate further descent.