Bitcoin Scalp Signal for Day Trading🖥️ We have determined there is a 65% chance Bitcoin will Rise from our current entry point.
📉 LONG - BTC : $21,800 📉
💵 Length of trade: we are expecting BTC to hit a $400 scalp, with a high end of $700, and a minimum expectation of $250.
🕰️ Duration of trade: we are expecting the minimum target to occur within 10 hours. Then we see the rest of this trade playing out around market open for NYSE.
📊🖥️ INDICATOR SHOWN ON CHART : Scot Signal Indicator
NEWS
🅱️₿ LocalBitcoins To Shut Down, Bitcoin DropsLocalBitcoins is a huge name, even though they have no volume its closing down can definitely be felt across the market.
People tend to panic over anything and everything.
They made some really bad business decisions in the past and now it seems they are paying the price.
This will be just another minor "bump" in the road and Bitcoin will resume growing once the panic settles, the weak hands sell.
After 14-February we should start seeing better news on the Bitcoin side.
The Altcoins are doing great... That's what we trade when Bitcoin is undergoing consolidation, a correction or a retrace.
We will continue with the "Name Your Altcoin" series after Part 3 and comeback and finish part 4 and 5 when more people get involved.
We can do this monthly or bi-monthly, I'll update you on your favorite altcoins and thank you for the support.
As to Bitcoin, the only thing that will peak my attention is if we break below the $20,000 level/support. Any trading above this level and we continue 777% bullish, of course!
Namaste.
BITCOIN Falling on Kraken News to stop offering StakingBitcoin falls as the Kraken news is out.
Kraken has paid the SEC 30M in fines because they were offering securities through staking, they will no longer offer this.
More new to come out as an "Announcement" is awaiting to hit the public. There has been speculation that there will be some Crypto regulation announced soon...
Keep an eye on Bitcoin as the price action will reflect the up and coming news.
Good luck out there!
EURUSD My view for EURUSD today. There is trendline liquidity and trendline traders to be taken out. I think price will target their stop losses and then reach for the Daily Buyside liquidity. No entries for me today until FOMC. I will update you on Twitter and here If I enter any trade. Don't rush. Let the price show what it will do at 2.00 PM New York time. PATIENCE!!!
GBPJPY: BUYFundamental Analysis
Here are the key takeaways from BoE meeting:
1. The Bank of England's Monetary Policy Committee has increased the Bank Rate by 0.5 percentage points to 4%.
2. The vote was 7-2 in favor of the increase, with two members preferring to maintain the Bank Rate at 3.5%.
3. Global consumer price inflation remains high, but is expected to have peaked.
4. UK domestic inflationary pressures have been stronger than expected.
5. The MPC projects that CPI inflation will fall to around 4% by the end of the year.
6. The MPC will adjust Bank Rate as necessary to achieve the 2% inflation target sustainably.
7. The extent of domestic inflationary pressure will depend on the impact of the Bank Rate increases.
What implication could this have on sterling(GBP)?
Well, these are my thoughts:
The increase in Bank Rate by the Bank of England's Monetary Policy Committee could potentially have a positive impact on the GBP as a currency. A higher interest rate can increase the demand for a currency, as it makes it more attractive for investors to hold and deposit funds in that currency. Additionally, higher interest rates may also lead to reduced inflationary pressures, which can further boost the appeal of a currency.
While it is true that higher interest rates can cause the value of a currency to appreciate, it can also make borrowing more expensive, which can impact consumer spending and lead to a slowdown in economic growth. This is where it gets tough, right?
Disclaimer : This is not a financial advice. This is purely my opinion based on my knowledge of macro-economics.
Technical Analysis
Based on technical analysis of the GBPJPY currency pair, there are signs of upward price momentum. The price divergence observed on the M15, M30, and H1 timeframes suggests an over-extended market scenario, which could lead to a corrective move higher. A pristine internal supply zone, located between 159.358 and 158.655, has been created by recent whipsaw price action, providing further evidence that the market could move higher to liquidate this zone.
As a result, I have established a near-term price target of this internal supply zone. If price successfully breaches this zone, I will maintain my position, considering the potential for further price appreciation. However, I'll continuously monitor the market, as additional factors and market developments could impact the performance of my position.
EURUSD before FEDToday we await the announcement of interest rates by the FED.
This is the most important news right now and is sure to cause movement.
Bear in mind that there will be press conferences 30 minutes after the announcement.
Yesterday we discussed the buying zone which is already reached and we have a rise.
It’s important to see confirmation of this movement after the news. Only then we can enter into new trades.
If we see new rise, the first target will be 1,1000. In case of a clear movement we will be looking for further targets.
Bearish EUR/USD 26.01.2023The EUR/USD pair has been trading in a tight range, with the bulls wanting the channel to continue but under a lot of selling pressure. The pair has been dropping since the start of the day and is currently trading around 1.09112. The market sentiment is bearish due to the mixed economic news and meetings that are scheduled today.
The market is currently struggling to find a foothold with the US Dollar recovering from its earlier weakness. The European Central Bank (ECB) held its monetary policy meeting yesterday, but the meeting failed to provide any clear guidance. The Bank of England (BoE) is also due to meet today, and the outcome of this meeting could have a significant impact on the EUR/USD pair.
The pair is currently heading towards the 1.08750 level, which is the bottom line of the rising trend channel. If the pair continues its downward trajectory, it could test the support level of 1.08750. The risk-averse market atmosphere is likely to keep the US Dollar in demand and make it difficult for the EUR/USD pair to recover.
Decreasing volumes, weak buyer. Waiting for the fallThe coin, after a long growth, went on a correction, as a result, a horizontal support level of 5.92 was formed, confirmed by several touches. Currently, the coin is consolidating at this level, volumes are declining, which indicates the weakness of the buyer. I expect a breakdown of this level, consolidation under it and a decrease to the lower support levels.
Important news again Today’s news will cause new movements and gives new trade opportunities.
Over the past few days we’ve been looking at GBPUSD. Yesterday the price reached 1.2300 and made a new top.
Thus, the expected movement after the news has been completed.
Today we will look for another rise.
Upon a breakout of 1,2315, the next resistance levels are 1,2370 & 1,2427.
WTI DAILYThis may come as a shock to all of you but we are at the lower end of the market historically, and we have begun to see the rapid decline of market trends.
Long positions are being made which is why we are seeing such a short market to buy up all the great pricing for a swing to the 100s in the mid-year rise.
this cycle will place us in new market highs pretty soon.
NZDUSD PENDING VIEW BUYING SOON NZDUSD TRADING BULLISH on this analysis we saw a bigger pattern from previous correction and then price broke-out from the large correction and form a continuation correction to continue the trend
#WHAT AM I EXPECTING:
am waiting for a continuation pattern around 2 reaction zone
#HOW DO WE ENTER:
if continuation pattern form get in on the break of ltf continuation correction
#TRADE INVALIDATION:
a bearish impulse form followed by a correction i.e trend change
#TRADE CRITERIA
#reduce risk on a ltf correction
#target 0.65786
CPI & Inflation Rate USHello everyone! Let's take a look on what happened yesterday on the US financial market and understand the impact of CPI and inflation rate.
The Consumer Price Index (CPI) and inflation news from the United States can have a significant impact on financial markets and the value of the U.S. dollar. The CPI measures the change in the price of a basket of goods and services consumed by households, and inflation is the rate at which the general level of prices for goods and services is rising.
When the CPI and inflation numbers are higher than expected , it can indicate that the economy is growing, which can boost stock prices, lead to higher interest rates, and appreciate the dollar. This is because as the economy grows, companies will see increased demand for their products and services, which can lead to higher profits and stock prices. Higher interest rates can also attract more investors to bonds, which can lead to higher bond prices. Additionally, a strong economy can lead to increased demand for U.S. goods and services, and increased foreign investment in the U.S. economy. As a result, the demand for dollars increases, which can lead to an increase in the value of the dollar.
On the other hand, if the CPI and inflation numbers are lower than expected , it can indicate that the economy is slowing down , which can lead to lower stock prices, lower interest rates and depreciation of the dollar. This is because as the economy slows down, companies will see decreased demand for their products and services, which can lead to lower profits and stock prices. Lower interest rates can also lead to less investors in bonds, which can lead to lower bond prices. Additionally, a weak economy can lead to decreased demand for U.S. goods and services, and decreased foreign investment in the U.S. economy. As a result, the demand for dollars decreases, which can lead to a decrease in the value of the dollar.
It's important to note that the Federal Reserve uses inflation as an indicator to change the monetary policy, as they use interest rates as a tool to control inflation. Typically if inflation is too high, the Fed will increase interest rates to slow down the economy and curb inflation, and if inflation is too low, the Fed will decrease interest rates to stimulate the economy. These monetary policy decisions can also have an impact on the value of the dollar, as when the Fed raises interest rates, it can make the U.S. a more attractive place to invest, which can lead to an appreciation of the dollar. Conversely, when the Fed lowers interest rates, it can make the U.S. a less attractive place to invest, which can lead to a depreciation of the dollar.
GBPUSD after CPIYesterday we saw big swings during the news. In GBPUSD we saw a pullback off the support zone and a new high.
It’s crucial now to see if this movement has the strength to continue.
We’re looking at a new support zone that in the near hours we expect a reaction from.
Upon another rise the goal will be 1,2315.
The scenario fails on a breakout of 1,2087.