Tradersweekly

Tradersweekly Updated 

After Bitcoin's route two weeks ago, when it briefly jumped above $28,000, the price action started to trend sideways again. In addition to that, technicals on the daily chart began to flatten, suggesting the short-term bearish trend is weakening and turning neutral. To support a bearish case, we want to see RSI and MACD start declining and Stochastic continue...

Tradersweekly Updated 

Nearly a month ago, federal judge Analisa Torres ruled in favor of Ripple Labs in its case against the U.S. Securities and Exchange Commission. The decision was quickly followed by bullish price action, and XRP rose almost to $1, with many investors claiming this to be only a beginning of a roaring bull market. However, fast forward to today, and XRP still has not...

Tradersweekly Updated 

One thing we would like to point out is yesterday's opening gap in the Volatility S&P 500 Index. A failure of the price to fill the gap risks rekindling the volatility in the short-term future. As such, it is something we are paying attention to. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended...

Tradersweekly

This week, we saw SPX move slightly lower. In addition to that, VIX gapped up on Tuesday and continued to move higher without filling the gap. Meanwhile, the relief fizzled out in China, leading to a rollover in the stock market indices like CSI 300 and Hang Seng. Considering American and Chinese markets are highly intertwined, we raise a word of caution over more...

Tradersweekly

Some of the pivotal ideas to the creation of Bitcoin in 2009 were anonymity, decentralization, and the inability to print more of the same asset. However, over more than a decade, all of these founding pillars have been put to the test. Starting with anonymity, it was one of the most widespread misconceptions that Bitcoin was anonymous and, therefore, it would...

Tradersweekly Updated 

During the long weekend, Bitcoin stayed mostly flat, oscillating around $26,000. Currently, it trades slightly lower, near $25,700. In the past few days, technicals on the daily chart began to turn bearish again after last week’s spike above $28,000. Besides that, the weekly time frame also continues to grow bearish, with MACD, RSI, and Stochastic pointing to the...

Tradersweekly

Today, we want to draw attention to the price differences now versus a year ago for multiple assets. While some commodities make a case for the reacceleration of inflation (presuming they continue higher), others do not. We would like to hear your opinion on the subject. Also, feel free to share any other assets we omitted. Illustration 1.01 Illustration...

Tradersweekly Updated 

Before the turnaround in SPX in July 2023, we pointed out to the roll over in the Chinese stock market and its implications for the U.S. market. Then more recently, we saw how these markets continue to be intertwined when Chinese regulator stepped in and calmed down the market, resulting in both American and Chinese stocks enjoying a relief (or perhaps even...

Tradersweekly Updated 

Last week, we drew attention to Bitcoin deviating too far from its moving averages. We noted that such extreme deviation made a good case for a significant rebound in the price of Bitcoin before further downside. After a few days, we saw the first attempt of Bitcoin to retrace toward its 20-day SMA, which failed at $26,800. After this failure and Bitcoin falling...

Tradersweekly Updated 

Yesterday, there were multiple notable developments in the market. First, the S&P Global Composite PMI release showed a further slowdown, dropping to 50.4 in August 2023 (marking the third consecutive month of declines); the S&P Global Services PMI printed 51, and the latest S&P Global Manufacturing PMI figure came in at 47. Earlier this year, one of the main...

Tradersweekly Updated 

After reaching nearly $85 per barrel three days ago, USOIL drifted lower with the global stock market. In the process, it retraced to its 20-day SMA, which acts as a significant support level. Furthermore, RSI, MACD, and Stochastic started to reverse and point to the downside on the daily chart. This bearish development could coincide with a short-term trend...

Tradersweekly Updated 

The price of Bitcoin was relatively steady over the past three days. In the meantime, technical indicators like RSI, MACD, and Stochastic stayed bearish on the daily time frame, and the 20-day SMA kept approaching the price. As for the weekly time frame, Stochastic and RSI continued to develop bearish structures, indicating that a trend of higher degree is turning...

Tradersweekly

Shares of PayPal lost nearly 82% of their value since the top in July 2021, and judging solely by this metric, one could consider the stock cheap. Nonetheless, there is more to it. In 2022, PayPal saw its revenue increase by 8% on a yearly basis and transaction volume grow by 16%. In addition to that, the company processed 22.3 billion payments and $1.36 trillion...

Tradersweekly

Almost two weeks ago, we touted gold’s retest of the support at $1,900 and the potential continuation lower to $1,875. However, soon after that, gold halted its decline slightly below $1,885 and reversed. Subsequently, it went above $1,920. For the most part, this move coincided with the relief in the stock market. Therefore, we remain on high alert and somewhat...

Tradersweekly

On Tuesday, Bitcoin made a new low at $25,350. The next day, it bounced to $26,800 and then faltered back down to the proximity of $26,000. During the past three days, there was a slight accumulation of Bitcoin among the biggest players (reflected in the growing number of BTC addresses with holdings exceeding 1,000 tokens). In the meantime, technicals on the daily...

Tradersweekly Updated 

In the previous article on SPX, we highlighted how MACD was approaching the midpoint (on the daily time frame) and said that a bearish breakout below zero would likely coincide with the price dropping to the area between $4,250 and $4,350. On Friday, SPX temporarily dropped to this area and constituted a new low at $4,335.31 (following the peak in July 2023)....

Tradersweekly

The price action in Bitcoin has been relatively muted for the past three days, and Bitcoin has stayed near $26,000 most of the time. During this period, there has not been any significant change in the number of wallets with holdings exceeding 100 BTC in balance; the same applies to wallets with holdings exceeding 1,000 BTC. As a result, we keep speculating that...

Tradersweekly Updated 

Those who have been watching our profile since the start of our forecasts for Bitcoin might know that in November 2021, we warned about the potential top in the cryptocurrency market. Following that, we remained bearish on the asset and rode it down to $15,000, hitting one price target after another. Then, since November 2022 lows, we have been standing firmly...