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BTC/USD Golden Cross + Bitcoin Act: The Perfect Storm? Now that Donald Trump is set to become the next president of the United States, the U.S. could soon build a strategic Bitcoin reserve. This initiative, proposed under the pending “Bitcoin Act,” aims to let the U.S. government acquire up to 200,000 Bitcoin per year over five years, totaling up to 1 million BTC, or nearly 5% of the currency’s maximum supply. At current prices, this could cost over $80 billion. The U.S. already holds around 200,000 Bitcoin, largely confiscated from criminals. Trump has pledged that under his administration, seized Bitcoin wouldn’t be sold. The price of bitcoin is trading at a new fresh record high above the $86,000 level. A golden cross pattern has formed with the 50-day and 200-day daily moving average crossing each other.
BLACKBULL:BTCUSD
by BlackBull_Markets
Market MoversWhat will happen when an unstoppable force meets an immovable object? -- Market Basics -- Commodities are like an "immovable object". They have no legs, they pay no dividends / yield rates. Unlike stocks, owning them doesn't give you the ability to "vote" for the growth of a company. When you buy them, you don't get a "souvenir" contract to hang on your office wall. Commodities are materials, so cumbersome that you have to store them in a freaking silo. Commodities don't expire. You can only buy them, store them and sell them. Perhaps convert them into some other material, but this is in sense a sort of selling and buying. Either we are talking about hard commodities or stocks, markets are based on the exchange of rare / (semi) fixed supply of goods. Markets is a massive supply of goods. But to dance there must be two. If there was nobody to buy and sell, then there would not be any market. Natural/abundant materials like sea water, Markets is a massive supply of traders. -- Market Patterns -- On the main chart I have drawn some colored lines. The zig-zagged orange ones (I call them springs) represent periods of accumulation (or distribution), while the blue abrupt ones represent bull (or bear) corrections. The same springs appear innumerable times in recent Bitcoin history. This cryptocurrency goes through apparent periods of accumulation (orange) and distribution (blue). All of these ovals are periods when price movement takes the shape of a "spring", and between them a short correctional move. -- Wyckoff Analysis -- Wyckoff made some observances of how markets move. Just like our previous analysis, we witness the same "upwards springs" usually seen in periods of distribution. A similar chart can be plotted for accumulation periods. -- Art of Discount -- Capitalism is the art of discounts. A shop (seller) can find customers (buyers) simply by lowering prices (and good advertising). It is the act of deliberate price change that causes market movements. Consider the following scenario. A very specific shirt from a known brand can be sold in innumerable places throughout the world. The historical price of this item is also tracked by financial firms. We consider a fixed supply of this item (this shirt is produced for one year only). Every day copies of this shirt are sold in similar prices (but not identical). A shop can make slightly better discounts to encourage buyers. Another shop in a tourist area can have higher prices due to increased demand. We realize that, while the financial firm tracks the "spot price" of a commodity, it is just calculating an "average price" of the underlying asset. -- Business 101 -- A seller will not sell lower than what they bought. Not all shops are equal. Some of them may have made a large initial order of shirts with a good price from the factory. Other ones made smaller orders with higher initial buying price. Therefore, the following table can be constructed of the available supply of shirts, based on initial buying price. 1000 shirts of $10 each 500 shirts of $11 each 250 shirts of $12 each 125 shirts of $14 each 125 shirts of $17 each IPO is the weighted average price (1000*10 + 500*11 + ... ) / 2000 = $11.1875 (notice that these prices are the ones shops bought from factory, let's say the final selling price to the customer is 2x of the prices above) -- Market Psychology -- With ample supply of shirts, a reasonable buyer will almost certainly buy the best offering they can. They will obviously buy from the cheaper shop they can find, one of the many which have prices of $20 per shirt (2 * $10). While prices are fixed, buyer habits are not constant. They will gradually exhaust the cheaper end of the supply. When 500 of the cheapest shirts are sold, the average price is calculated again. Now there are 500x10 + 500x11 + ... with a total of 1500 and an average price of $11.5833 Price before demand: $11.18, price after demand $11.58 Unsurprisingly, demand has caused prices to increase. Of course this change is not linear. Shops which bought at $10 and have many sellers, will attempt to increase prices from strong demand and increase profits. Price increase will inevitably result in lower demand. The inevitable crash will follow. Demand has vanished and prices abruptly crash. This happens when all $10 shops reached the selling price of $11 ones. A rapid correction back down to $10 follows. A chart of Bitcoin is shown to demonstrate this oscillation. -- End of the Road -- The exact same happens in periods of accumulation in the end of the cycle. In the initial period of market cycles, prices have their lowest price, in the end the highest. (this is not always the case, but it is always the target) When most shirts are sold, all shops are still working, most of them have supply in hand, and selling prices have reached $34 (2x$17). It is then when the most expensive of shops have their chance to make their target profit. Prices have gone so high and the new season is right around the corner. We have reached a dilemma. We cannot increase prices much higher because demand will not show up. If the most expensive of shops cannot reach their target price of $34, they will definitely have to make $17 per shirt to break-even. It is that pressure which makes sellers slowly and progressively reduce prices to find demand. A downward zig-zag is taking shape. -- Conclusion -- This entire idea is by itself a conclusion. A tale of a fight between the unstoppable force of traders against the immovable object of assets. The chaos of capitalism simplified. Everything should be made as simple as possible, but not simpler. Tread lightly, for this is hallowed ground. -Father Grigori
BITSTAMP:BTCUSD
by akikostas
3
Scalling out of my BTC positionHi everyone, long time since last post as i've switch my focus on just trading longer term moves and cycles. For my few subscribers that might be following along, today actually marks the first time in many years that i have sold any BTC. My strategy is to scale out of my position of BTC, and in my 2 year plan this 85k was always the first price target. I think btc can go as high as 135-150k this cycle, however perfection is the enemy of good. I want to capture the gains i have made and not hold through another bear market, but be more liquid then last cycle. The red dots represent my selling points and i will be selling 20% of my stack around each price target, 95k, 105k, 110k. If you've followed my previous idea's youd have an average buy price of 25k or less. Here is my general outlook as of today. BTC Dominance has hit its target but can go up higher. (look at btc.d - stable coins) BTC to top between 135-150. Happy with my gains especially if i can average out at 100k+ ETH to over perform going forward. Not looking to trim until 5k (20%) Doge start trimming closer to $1. Tesla, trimmed 20% today.
COINBASE:BTCUSDLong
by ecicic
BTC Smashes ATH Price Discovery engaged!Total Market Cap Breakout The crypto total market cap is poised to breach $3 trillion, fueled by increasing volume and Bitcoin's surge past $81,000 resistance. Key Indicators Next significant resistance: 2.618 Fibonacci level around $90,000 Weekly RSI remains overbought, indicating a potential pullback Trading Strategy Taking profits below $90,000 in anticipation of possible rejection Maintaining exposure due to strong upside momentum Caution: BTC unlikely to break $100,000 on the first attempt given recent rapid gains Trading Considerations Watch for rejection at key levels Pullback potential Momentum favors continuation
BITSTAMP:BTCUSD
by artashesk
Bitcoin Trade Using Trend Following IndicatorsNote Bitcoin simply bounces off the Blue support-resistance line and continues higher. Find out more about the indicators used on this chart by following the link in the signature line! --- How to understand price action. It is very easy to read price action if you have a reference point. These support/resistance lines are there to help you read where the buyers and sellers are likely to make a stand. You can also think of these indicators as moving pivot points . MasterChartsTrading Price Action Indicators show good price levels to enter or exit a trade. The Blue indicator line serves as a Bullish Trend setter. If your instrument closes above the Blue line, we think about going Long (buying). For commodities and Forex, when your trading instrument closes below the Red line, we think about Shorting (selling). For Stocks, I prefer to use the Yellow line as my Bearish Trend setter (on Daily charts ). A stock has to close below the Yellow line first, then rally towards the Red line and top out there. This is where I would short it.
COINBASE:BTCUSDLong
by mastercharts
Bitcoin - Wyckoff AccumulationBitcoin chart marked up by our crypto analyst (Alessio). For the first time ever, we're bringing our renowned Wyckoff Trading Course exclusively to the cryptocurrency markets - and you're invited to attend the first session completely free! Led by crypto trading expert Alessio Rutigliano, creator of: Wyckoff Crypto Scanner Wyckoff Crypto Discussion Trading the Crypto Market with the Wyckoff Method Crypto Strategies From Swing Trading To Intraday Point-and-Figure from Stocks to Cryptos This course will teach you how to apply our time-tested Wyckoff principles - the same methods that have transformed countless traders' approaches to the markets for decades - specifically adapted for the unique dynamics of cryptocurrency markets. Join us on January 6th for the free first session and discover why the Wyckoff Method is perfectly suited for today's crypto markets. register.gotowebinar.com
COINBASE:BTCUSDLong
by Wyckoff_Analytics
what is next ? 100K and above ?Hello , as you can see in the weekly frame the price still in a bullish trend , BUT is the price really going to 100k or the price on the maximum top now ? the price failed to cross 74k in weekly frame candle , to be sure that is a correction the price should not be under 50k in weekly frame if it does we are going back to 40k and under to reach 100k and above the price should cross the 74k in the weekly frame candle according the the chart we still under 70k and no high liquidity. the price still in correction for now , the decision is yours :)
BINANCE:BTCUSD
by ahmed_do
Is Institutional Demand Driving Bitcoin's Surge to $82,000? Bitcoin, the world's largest cryptocurrency, has once again shattered records, surpassing the $82,000 mark. This significant milestone, achieved over the past 30 days, represents a remarkable 30% increase in value. The surge in Bitcoin's price is largely attributed to growing institutional interest, particularly evident in the booming Bitcoin ETF market. Institutional Adoption Fuels the Rally One of the primary drivers behind Bitcoin's recent bull run is the increasing adoption of Bitcoin by institutional investors. These large-scale investors, such as hedge funds, pension funds, and corporations, are recognizing the potential of Bitcoin as a valuable asset class. A prime example of this institutional interest is the BlackRock Bitcoin ETF (IBIT). Since its launch, IBIT has attracted substantial inflows, with a recent daily inflow reaching a staggering $1.12 billion. This influx of capital from institutional investors has significantly contributed to the upward momentum of Bitcoin's price. Unpacking the Demand Dynamics To better understand the forces driving Bitcoin's price surge, it's essential to examine the various factors contributing to the increased demand: 1. Institutional Investment: As previously mentioned, institutional investors are increasingly allocating a portion of their portfolios to Bitcoin. This institutional buying pressure has a substantial impact on the cryptocurrency's price. 2. Retail Investor Enthusiasm: Retail investors continue to show strong interest in Bitcoin, particularly during periods of market volatility. This retail demand can further amplify price movements. 3. Global Economic Uncertainty: In times of economic uncertainty, investors often seek alternative assets like Bitcoin as a hedge against inflation and currency devaluation. 4. Technological Advancements: Ongoing advancements in blockchain technology, such as the Lightning Network, are enhancing Bitcoin's scalability and transaction speed, making it more attractive to users. 5. Regulatory Clarity: Increasing regulatory clarity in major jurisdictions is boosting investor confidence and facilitating institutional adoption. The Road Ahead for Bitcoin While Bitcoin's recent price surge is undoubtedly impressive, it's crucial to approach future price predictions with caution. The cryptocurrency market is highly volatile, and factors such as regulatory changes, macroeconomic conditions, and technological developments can significantly impact Bitcoin's price trajectory. However, given the strong fundamentals and growing institutional interest, many analysts believe that Bitcoin's long-term outlook remains bullish. As the cryptocurrency ecosystem continues to mature and gain wider acceptance, Bitcoin could potentially reach even higher price levels in the future. Conclusion Bitcoin's recent breakthrough to $82,000 is a testament to its growing dominance in the cryptocurrency market. The surge in institutional demand, coupled with other positive factors, has propelled Bitcoin to new heights. While future price movements are uncertain, the long-term potential of Bitcoin remains significant, making it an asset worth monitoring for investors seeking exposure to the digital asset class.
BITSTAMP:BTCUSDLong
by bryandowningqln
BTC Monthly - Charting: The Market's anticipation I choose Long because overall I do expect such a run up to and over 100k in the future as most traders do also. Maybe right now it is not exactly the time to long, IMO I still see reasons in the indicators that suggest more downward PA push. This chart represents what the Market, social media, traders and speculation as of the time of publishing is generally expecting to happen, a bullish parabolic Price pulse(s) upwards to 135k -165k. I placed the time line expectation for it as a relevance to matching with the last Bull Push to 68K. This next parabolic could happen about a soon as I have it currently plotted, and I would be surprised it follows that early time line, however it might. Watch the trends, it (price action) could take a lot longer than plotted on this chart. This mini picture included is how i followed a logical layout for this "Run Chart".
COINBASE:BTCUSDLong
by Quartz-
BTCUSD VIew!!After the US election, digital asset investment products attracted $1.98 billion in inflows, marking the fifth consecutive week of positive inflows. This resulted in year-to-date total inflows to hit a new record of $31.3 billion. Global assets under management also hit an all-time high of $116 billion following recent price increases. Trading volumes surged by $20 billion, the highest since April, though not a new record.Market Bullishness Puts Pressure on Short-Bitcoin Products
COINBASE:BTCUSDLong
by FXBANkthe8055
Economic standpoint (Majors) Week Commencing 11/11/24Lest we Forget. Romans 8:18 I consider that our present sufferings are not worth comparing with the glory that will be revealed in us. GDP 1.1 USD The US economy expanded an annualised 2.8% in Q3 2024, below 3% in Q2 and forecasts of 3%, Personal spending increased at the fastest pace since Q1 2023 (3.7% vs 2.8% in Q2), boosted by a 6% surge in consumption of goods and robust spending on services. Government consumption rose more (5% vs 3.1%), led by defence spending. In addition, the contribution from net trade was less negative (-0.56 pp vs -0.9 pp), with both exports (8.9% vs 1%) and imports (11.2% vs 7.6%) soaring. On the other hand, private inventories dragged 0.17 pp from the growth, after adding 1.05 pp in Q2. Also, fixed investment slowed (1.3% vs 2.3%), led by a decline in structures (-4% vs 0.2%) and residential investment (-5.1% vs -2.8%). Investment in equipment, however, soared (11.1% vs 9.8%). The GDP Growth Rate in the United States is expected to be 1.50% by the end of this quarter, In the long-term, the United States GDP Growth Rate is projected to trend around 1.80% in 2025. 1.2 EUR The Eurozone economy expanded by 0.4% in Q3 2024, doubling the 0.2% growth in Q2 and surpassing forecasts of 0.2%, according to preliminary estimates from Eurostat. Consumer spending increased moderately, driven by rising household incomes and a resilient labour market1. Exports and imports grew by 1.1% and 1.3% respectively, while government spending slightly increased. The German economy avoided a recession with a 0.2% expansion, and GDP growth quickened in France (0.4% vs 0.2% in Q2). However, Italy's economy stalled and Latvia remained in contraction (-0.4% vs -0.3%). Year-on-year, the Eurozone GDP expanded by 0.9%, marking the best performance since Q1 2023. The European Central Bank (ECB) projects that economic growth will continue to be supported by rising household incomes, a resilient labour market, and increasing confidence, with GDP growth expected to reach 1.5% in 2025. 1.3 GBP The UK economy expanded by 0.5% in Q3 2024, below the 0.7% growth seen in Q2 and forecasts of 0.6%, according to the Office for National Statistics (ONS). Household spending increased slightly (0.2% vs 0.1% in Q2), driven by transport, housing, and miscellaneous expenses. Government consumption also rose (1.1% vs 1.4%), led by public administration and defence, which offset a fall in health spending. However, exports decreased by 0.3%, compared to initial estimates of a 0.8% rise, driven by a 2.8% decrease in goods exports. Imports increased by 6.3%, down from 7.7%. On the other hand, gross capital formation was revised higher (0.6% vs 0.4%), with business investment soaring 1.4%, compared to a 0.1% drop in the preliminary estimate. The GDP Growth Rate in the United Kingdom is expected to be 0.50% by the end of this quarter, according to Trading Economics global macro models and analysts' expectations. In the long term, the United Kingdom GDP Growth Rate is projected to trend around 0.60% in 2025. Inflation 2.1 USD The annual inflation rate in the US unexpectedly slowed to 2.4% in November, the lowest since March ‘21 compared to 3.4% in April and forecasts of 3.4%. Inflation has slightly increased for food by 0.2%. Shelter remains stubbornly high and expected to remain elevated, with forecasts suggesting it will reach 4.8% year-over-year in December 2024 and stay above pandemic levels well into ‘25. Transportations were down (10.5% vs 11.2%), and apparel (0.8% vs 1.0%), while energy costs rose more (3.7% vs 2.6%), particularly gasoline (2.2% vs 1.1%), utility gas service (0.2% vs -1.9%), and fuel oil (3.6% vs -0.8%). Compared to the previous month, the CPI was unchanged, the least since July 2022, against forecasts of a 0.1% increase and following a 0.3% rise in April. A decline in gasoline prices was offset by higher shelter costs. Meanwhile, core inflation slowed to 2.4% annually, the lowest rate since April 2021 and below the consensus of 3.5%. The monthly core inflation rate also fell to 0.1% from 0.2%, better than forecasts of 0.3%. Consumer prices in the US were unchanged in May 2024 after rising 0.3% in the previous period and below forecasts of a 0.1% increase. The energy index fell 2% over the month, led by a 3.6% decrease in the gasoline index. Conversely, the index for shelter rose 0.4%, while food prices edged up by 0.1%. Excluding food and energy, core consumer prices rose 0.2%, easing from a 0.3% increase in the previous month and marking a fresh 7-month low. 2.2 EUR Over the past two months, the Eurozone has experienced a notable stabilisation in its inflation rates. After peaking at 2.6% in July 2024, the annual inflation rate has steadily declined to 2.0% in October 2024. This trend can be attributed to a slower rise in energy costs and a more moderate increase in the prices of food, alcohol, and tobacco. Additionally, the costs of services and non-energy industrial goods have shown a more contained increase. The European Central Bank’s objective of achieving a 2% inflation rate has been met, signalling a balanced approach to monetary policy and overall economic stability. Consumer confidence has also seen an improvement, with the economic sentiment indicator rising to 103.5 in October from 102.9 in the previous month, reflecting optimism about future economic conditions and stability in the region. 2.3 GBP The UK has also seen a similar trend in its inflation rates over the past two months, with a slight but steady decline. In September 2024, the inflation rate was recorded at 2.2%, which decreased to 2.0% in October 2024. This reduction is primarily driven by a decrease in energy prices, specifically in gas and electricity, and a slower growth rate in the cost of non-energy industrial goods. Additionally, the prices of clothing and footwear have shown a moderate increase, contributing to the overall inflation rate. The Bank of England continues to monitor these trends to ensure that inflation remains within the target range, supporting sustainable economic growth. The labour market has remained resilient, with unemployment rates stable at 3.8%, and wage growth showing a positive trend, which helps in sustaining consumer spending and overall economic activity. 3. Interest Rates 3.1 USD The Federal Reserve decided to maintain the federal funds target range at 4.50%-4.75% during its November 2024 meeting, following a 25 basis points cut in September. This move marks the second rate cut this year as policymakers respond to cooling inflation. The decision aligns with the Fed's cautious approach to monetary policy, aiming to balance economic growth with price stability. The central bank's projections now anticipate one more rate cut by the end of 2024 and several additional reductions in 2025, with the long-term rate expected to settle around 3.25% by 2026. The Fed's GDP growth projections remain steady at 2.1% for 2024, reflecting a resilient economy. However, PCE inflation has been revised downward to 2.4% for 2025, indicating expectations of further easing price pressures. The unemployment rate is projected to remain steady at 4% for 2024, with a slight increase to 4.2% in 2025, as the labour market adjusts to the evolving economic conditions. This cautious but responsive approach underscores the Fed's commitment to achieving its dual mandate of maximum employment and price stability. 3.2 EUR In the Eurozone, the European Central Bank (ECB) has continued its efforts to manage inflation by adjusting key interest rates. In October 2024, the ECB lowered the deposit facility rate to 3.25%, the main refinancing operations rate to 3.40%, and the marginal lending facility rate to 3.65%. These changes follow similar rate cuts in September and June, reflecting the ECB's commitment to ensuring inflation moves towards its 2% target. The ECB's updated assessment indicates that disinflation is progressing well, with inflation falling below the target for the first time in over three years. While short-term inflation expectations have risen slightly, the ECB remains focused on achieving medium-term price stability through a data-driven, flexible approach. 3.3 GBP In the UK, the Bank of England has taken a cautious approach to interest rates in recent months. In its November 2024 meeting, the Bank decided to lower the benchmark interest rate by 25 basis points to 4.75%, marking the second rate cut this year following a similar reduction in August. This decision was driven by evidence of slowing price growth, with September's inflation print dropping to an over three-year low of 1.7%1. Services inflation, which tends to be stickier, fell to a two-year low of 4.9%, although it remains elevated. The Monetary Policy Committee (MPC) voted 8 to 1 in favour of the cut, with one member opting for a hold. The Bank now projects inflation to end the year at 2.5% and to reach 2.2% by 2026. Additionally, the expansionary budget delivered by the Labour Party is expected to lift GDP growth by 0.75% at its peak impact within a year. The Bank continues to monitor economic indicators closely to ensure that inflation remains within the target range, supporting sustainable economic growth. 4. Unemployment & NFP 4.1 USD The unemployment rate in the United States increased to 4.1% in October 2024, up from 4.0% in September. This rise was driven by an increase in the number of unemployed individuals, which reached 6.649 million, up by 157,000 from the previous month. The labour force participation rate remained steady at 62.5%, while the employment-population ratio slightly decreased to 60.1%. The rise in unemployment was somewhat unexpected, as market forecasts had predicted the rate to remain unchanged. In terms of Non-Farm Payrolls, the US economy added 272,000 jobs in October 2024, marking the highest monthly increase in the past five months. This figure surpassed market expectations of 185,000 jobs and was significantly higher than the downwardly revised 165,000 jobs added in September. The healthcare sector led the job gains with 68,000 new jobs, while other sectors such as leisure and hospitality, and professional, scientific, and technical services also saw notable increases. However, employment in mining, quarrying, oil and gas extraction, construction, and manufacturing showed little or no change. 4.2 EUR In October 2024, the unemployment rate in the Eurozone remained stable at 6.3%, unchanged from the previous month. This rate is a decrease from 6.6% in September 2023, indicating a gradual improvement in the job market over the past year. Eurostat estimates that 10.884 million people were unemployed in the Eurozone during this period. Despite the stable unemployment rate, unemployed individuals increased slightly by 13,000 compared to August 2024. The youth unemployment rate in the Eurozone saw a slight increase to 14.4% in October 2024, up from 14.3% in September. This rise highlights ongoing challenges in the labour market for younger workers, even as the overall unemployment rate shows signs of improvement1. The stability in the unemployment rate suggests that while the job market is not worsening, it is also not improving significantly, indicating a need for continued efforts to boost employment opportunities, especially for the youth. 4.3 GBP In the United Kingdom, the unemployment rate saw a slight decline to 4.0% in the three-month period from June to August 2024, down from 4.1% in the previous quarter. This decrease brought the number of unemployed individuals down to 1.39 million, the lowest level since January 2024. The decline in unemployment was slightly better than market estimates, indicating a positive trend in the UK job market2. The labour force participation rate remained steady at 62.5%, while the employment-population ratio increased to 60.1%. This suggests that more people are entering the workforce and finding jobs, contributing to the overall improvement in the labour market. Despite the positive trend in unemployment, the UK economy faced some challenges in the labour market. The number of payrolled employees decreased by 35,000 between July and August 2024, reflecting some volatility in employment figures. However, the longer-term trend shows an increase of 165,000 paid employees compared to August 2023. The early estimate for September 2024 indicated a slight decrease of 15,000 in payrolled employees, but this figure is provisional and subject to revision. The overall employment rate increased to 75.0% in the year from June to August 2024, indicating a resilient job market despite some short-term fluctuations. 5. Manufacturing & Services 5.1 USD Manufacturing: In October 2024, the U.S. manufacturing sector continued to face challenges, with the ISM Manufacturing PMI remaining in contraction territory at 46.5. This marks a seventh consecutive month of decline, driven by weak demand and ongoing uncertainties ahead of the presidential election1. Key industries such as transportation equipment and chemical products reported significant contractions, while apparel and petroleum products saw some growth. The Federal Reserve's recent interest rate cuts have yet to significantly boost manufacturing activity1. Services: On a brighter note, the U.S. services sector experienced a notable expansion in October 2024, with the ISM Services PMI rising to 56.0, the highest level since July 2022. This growth was supported by increased employment and supplier deliveries, despite some political uncertainty and disruptions from hurricanes2. The services sector, which accounts for more than two-thirds of the economy, continues to show resilience and is expected to maintain a brisk pace of activity through the year-end holiday season. 5.2 EUR Manufacturing: The Eurozone's manufacturing sector continued to struggle in October 2024, with the HCOB Eurozone Manufacturing PMI rising slightly to 46.0 from 45.0 in September. Despite this slight improvement, the sector has seen 28 consecutive months of contraction, the longest downturn since records began in 19972. Production volumes fell for the 19th month, constrained by a further decline in new factory orders, leading to additional job cuts. However, contractions in production, sales, and employment softened over the month. Services: In contrast, the Eurozone's services sector showed resilience in October 2024, with the HCOB Eurozone Services PMI edging higher to 51.6 from 51.4 in September. This indicates a continued expansion, albeit at a modest pace. New contracts for service providers fell for a second consecutive month, particularly with export orders declining the most in ten months. Nonetheless, employment levels continued to rise, and respondents remained confident about activity levels in the upcoming 12 months 5.3 GBP Manufacturing: The UK manufacturing sector contracted in October 2024, with the S&P Global UK Manufacturing PMI falling to 49.9 from 51.5 in September. This marks the first time the PMI has fallen below the neutral 50.0 mark since April, indicating a contraction in the sector. The decline was driven by a lack of market optimism, slower economic growth, stretched supply chains, and concerns about the potential impact of the upcoming Budget. New work intakes and output growth saw significant reductions, reflecting the challenging environment for UK manufacturers. Services: In contrast, the UK services sector continued to grow, albeit slower. The S&P Global UK Services PMI stood at 52.0 in October 2024, down from 52.4 in September. While the sector remains in expansion, the growth rate was the weakest since November 20233. The slowdown was attributed to heightened business uncertainty and concerns about the general economic outlook ahead of the Budget. Despite this, new business growth and employment levels in the services sector remained positive, indicating continued resilience. 6. Consumer Confidence 6.1 USD In October 2024, consumer confidence in the US rebounded significantly, with the Conference Board Consumer Confidence Index rising to 108.7 from 99.2 in September. This increase was driven by improved perceptions of current business conditions and job availability, as well as increased optimism about future business conditions and income1. The Present Situation Index, which measures consumers' assessment of current business and labour market conditions, jumped by 14.2 points to 138.0, while the Expectations Index, reflecting short-term outlooks, increased by 6.3 points to 89.1. This rise in consumer confidence suggests that Americans are feeling more positive about the economy as the year comes to a close 6.2 EUR In October 2024, consumer confidence in the UK experienced a slight decline, with the GfK Consumer Confidence Index falling to -21 from -20 in September. This drop to the lowest level this year was largely due to uncertainties surrounding the upcoming budget and rising energy bills, which deterred shoppers1. Despite a fall in the headline rate of inflation, consumers remain cautious about the general economic situation. However, there was a slight increase in the Major Purchase Index, suggesting some optimism about future discretionary spending. 6.3 GBP In October 2024, consumer confidence in the Eurozone saw a modest improvement, with the consumer confidence indicator rising to -12.5 from -12.9 in September. This increase of 0.4 points was driven by slightly more optimistic views on the general economic and personal financial conditions. Despite this uptick, consumer confidence remains below its long-term average, reflecting ongoing concerns about inflation and economic stability. The improvement, however, suggests a cautious optimism among Eurozone consumers as they navigate the current economic landscape. Overall Market outlook/summary Market Summary/Outlook: Stocks The return of Donald Trump to the White House has sent shockwaves through financial markets, with U.S. stocks surging to record highs. Investors are optimistic about Trump's economic agenda, which includes tax cuts, deregulation, and increased infrastructure spending. The S&P 500 and the Nasdaq have both seen significant gains, driven by expectations of strong corporate earnings growth and a more market-friendly regulatory environment. However, there are concerns about rising inflation and higher interest rates, which could eventually weigh on stock valuations. The market's initial euphoria may be tempered by these factors as the new administration's policies unfold. Market Summary/Outlook: Crypto The cryptocurrency market has also reacted positively to Trump's return, with Bitcoin and other major cryptocurrencies reaching new highs. Trump's previous support for cryptocurrencies and his pledge to reduce regulatory burdens have boosted investor confidence. The price of Bitcoin surged nearly 8% to a record $75,345, while other cryptocurrencies like Ethereum and Dogecoin also saw significant gains. However, the market remains highly volatile, and regulatory uncertainties could pose risks. Investors are closely watching for any new policies that could impact the crypto space, as Trump's administration navigates the complex landscape of digital assets. 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BITSTAMP:BTCUSDLong
by activejjhhh
November 8 Bitcoin Bybit chart analysisHello It's a Bitcoinguide. If you have a "follower" You can receive comment notifications on real-time travel routes and major sections. If my analysis is helpful, Please would like one booster button at the bottom. Here is the Bitcoin 30-minute chart. There is no separate Nasdaq indicator announcement today. I think the Nasdaq adjustment will be the most important, but in any case, Bitcoin's main safe zone is the 1+4 zone. As indicated below, if the bottom doesn't break in 2, it will be important to see how it will endure the 4-hour MACD dead cross that everyone knows. Bit's short-term pattern is broken. It will be important to see whether the 30-minute support + daily support are broken and the match is decided at 1+4. Before this zone is broken, the principle is to continue to follow the trend, so you can focus on long positions. If it breaks, you can mix long and short at that time. *When the blue finger moves, it is a two-way neutral long->short ->long switching strategy. For those who are not confident, it is better to focus on long positions rather than short positions, and it is important that the 4-hour chart MACD dead cross is engraved and that it does not deviate from the main section. 1. $75,459.5 long position entry section / stop loss price when the green support line deviates or stop loss price when section 1 is touched The section 1 at the bottom is a place where the long position entry section can be pushed. If it is not touched at the same time, it can be pushed by bypassing section 2 or the bottom, so be careful. 2. $76,500 long position 1st target / short-term short position entry section, stop loss price when the orange resistance line is broken As explained above, it can be cost-effective and risky, so it is important to maintain it by waiting for a long position after liquidation or modifying the long position stop loss price rather than short. If you touch 76.5K right from the current position, you can start with a short position. 3. 75987.5 dollars long position switching / stop loss price autonomous Top -> Good section target furniture during the weekend Check the Bollinger band center line shape according to the 4-hour chart candle shape that is additionally created at 9 o'clock and see if the MACD dead cross is imprinted every 4 hours It won't be difficult to operate. Even if it moves sideways today, it is best if it is maintained without breaking the green support line or if it protects the 1-hour chart support line. The purple flag on the far right is the section where additional weekly chart candles are created next Monday If you drag the chart up and down until the weekend The top is Good above the Great section The bottom is the 3rd section below the main price I checked it, so I think it would be good to use it freely. There are no significant waves yet, and it has been moving sideways since yesterday, so it is very difficult to analyze or explain. My two-way strategy may fail, but the drawing and price do not lie. For those who are going to trade, I hope you operate safely with the principle of trading and stop loss. Thank you for your hard work this week.
BYBIT:BTCUSD.P
by BitCoinGuide