HolderStat | BTC has reached a new ATHHaving analyzed 100 mln bitcoin wallets, we formed an index reflecting their sentiments. And here are the conclusions we came to 👇
👉 The current values are at 62 points, and over the last 24 hours 100% of transactions were made for sale.
💡 After Trump's victory, the cryptocurrency market surged and BTC reached a new ATH, while the observed wallets mostly refrained from transactions and some made sales. This behavior can be seen as both anticipation of a BTC correction and a liquidity spillover into altcoins in pursuit of greater profits.
📌 Considering the correction scenario, it is worth noting that the levels of $73,000 and $70,000 may become a significant barrier to decline. Also, we should not forget that today the Fed will announce a decision on the key rate, which may affect the volatility of the price.
Community ideas
Z pullback to $65MODs have suggested that I provide more detail about the picks I make.
Sorry. I'm not as verbose as y'all, and I don't like things to be complicated.
My trading plan is very simple.
I buy or sell at top & bottom of parallel channels.
I confirm when price hits Fibonacci levels.
Bonus if a TTM Squeeze in in play.
I hold until target is reached or end of year, when I can book a loss.
So...
Here's why I'm picking this symbol to do the thing.
Price above all channels (period 100 52 39 & 26)
Stochastic Momentum Index (SMI) at overbought level
VBSM spiked positive
Price at 3.618 Fibonacci level
In at $72
Target is $65 or channel bottom
Stop loss is $74
Big correction awaited on US markets As all are in sheer euphoria and waiting for higher all time highs after Trmp election , the market is currently warning those who can listen of upcoming correction , and it might reach deep this time .
This is not about technical analysis textbook patterns and there is much more on this chart than what meets the eye as I tried to simplify it as much as possible.
Bear in mind also the particular context where we are amidst extreme greed in the stockmaket while we are at the all time highs as the fed is about to make its rate decision .
If you are an investor I hope you got my point of NO BUYING RIGHT NOW as it not the time at all so simply wait .
This can even be the opportune time for looking for shorts instead , after a bearish reaction from Interest Rate decision . On the other hand ,closing above 20900 will invalidate the short idea and postpone the correction for later .
In closing wish to leave you with this quote from Warren Buffet :
"I will tell you how to become rich .Close the doors .BE FEARFUL WHEN OTHERS ARE GREEDY .Be greedy when others are fearful. "
CME_MINI:NQ1! CME_MINI:ES1! CBOT_MINI:YM1! NASDAQ:NDX SP:SPX DJ:DJI FX:NAS100 BLACKBULL:NAS100
BANK NIFTY S/R for 8/11/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA(50 EMA): If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BTC vs XAU (Gold) Cup and Handle On the weekly chart of Bitcoin ( CRYPTOCAP:BTC ), we can see the formation of a massive Cup and Handle pattern 📈☕. This pattern is well-known as a bullish indicator, suggesting a potential continuation of the upward trend 🚀. To better understand the implications of this pattern, we can compare the performance of Bitcoin with gold ( TVC:XAU ) 🪙 vs. 🟡.
In the past, gold displayed a similar pattern, which was followed by significant price increases 💰. If Bitcoin follows a similar trajectory, we could anticipate considerable appreciation in the near future 📊.
Santa Claus Rally? Its $ONON #BULLFLAGOn shoes are quickly rising in popularity due to delivering on what consumers need, comfort and in this day and age STABILITY lol. I personally find them stylish and I see a time coming where function > fashion rules... or at least seriously competes...
I LOVE THIS $50 break and think it can run NYSE:ONON till Xmas/New Years ( $60 - $69.420 PT )
- Happy Thanksgiving
Will traders short this bounce in gold?Gold prices dropped sharply on the news that President Trump will govern the U.S. for the next four years, starting from January 6. This decline makes sense, given his plans to boost the economy despite an already low unemployment rate of 4.1%. These efforts are likely to push inflation and wages higher, which could compel the Fed to maintain elevated interest rates.
As long as prices stay below 2,720, a test of this week’s low seems likely in the coming days.
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CELH BottomI'm calling a bottom here on CELH. Either boom or bust territory so an entry should be reasonably sized. If we are right though the gains will be significant so no need for too big an entry. Even daily accumulation is a good strategy down here. Get out if new lows are made. Lets see if the market turns here.
Expectations of a Fed rate cut boosted the reboundMarket Analysis: Today, gold prices have fallen below the 2700 mark following a surge in the U.S. dollar after Donald Trump’s surprising political comeback as President. The primary driver behind this pullback is the market’s expectation that Trump, known for his pro-capitalist stance, will prioritize U.S. economic growth. This outlook has strengthened the dollar, resulting in downward pressure on gold.
Currently, it appears the market has largely priced in the bearish impact of Trump’s election, limiting gold's potential for further decline. Additionally, the Federal Reserve’s two-day policy meeting, concluding on Thursday, is expected to result in a 25-basis-point rate cut, which would likely provide upward momentum for gold.
Trading Strategy: Given the current low levels, going long on gold presents a strategic opportunity. With the anticipated Fed rate cut, we can expect a positive impact on gold prices, fueling a rebound.
Recommendation: Based on this analysis, the general trading direction should be clear. For specific entry points and comprehensive weekly strategies, please reach out. All VIP members will receive exclusive access to this week’s detailed trading plan.