Technical Analysis and Outlook: This week, Bitcoin churned at our completed Outer Coin Dip 25600, indicating bias to move downwards crucial support targets: Mean Sup 25100 and 24300 along with Next Outer Coin Dip 24200. Pivotal Rebound Retest is also in play.
Technical Analysis and Outlook: On August 23, Bitcoin made a significant recovery and reached our Mean Resistance level. The next target on the downward movement is the Outer Coin Dip, which is at 24200. There is a strong chance that the Mean Resistance 27800 level may be retested.
Look at those beautiful channels for $FX:USDJPY. Last year, we had a strong uptrend from 115 to 151, and the central bank had to intervene strongly. We see another uptrend this year as well. There is a fight between the market and the central bank. BoJ had to make a move when the price reached to 144. But it seems market wants to push higher this. We potentially...
Technical Analysis and Outlook: This week, Bitcoin surpassed two key targets: Outer Coin Dip 28200 and 26900, indicating that the next Outer Coin Dip 24200 is likely, with the Mean Res 26650 serving as a temporary support for price action. However, an extension to Mean Res 27800 should not be dismissed.
Technical Analysis and Outlook: The price action of the Eurodollar remained downwards as projected by Trade Selecter by completing our major target Outer Currency Dip 1.087. However, a strong rebound is possible with Mean Res 1.101 as a target. On the downside, price action might take us to the Next Outer Currency Dip of 1.070.
In the news today is the Japanese Yen, as it approaches critical resistance at the 146 level. The market has steadily been making new highs on the daily level this year, having just exceeded the July high. As seen in the chart above the market has moved quickly through levels of resistance, now breaking a downtrend line from the major Oct 22' high. See below a...
Technical Analysis and Outlook: This week, the price action of the coin remained stagnant between the Outer Coin Dip 28900 and Mean Res 30050 levels. This suggests it might decrease further towards the Outer Coin Dip levels of 28200 and 26900. However, there is also a possibility of a dead-cat rebound towards the Mean Res 30050 level.
Technical Analysis and Outlook: This week, the coin's price action fell below our Mean Support level of 29900, indicating that it may continue to decrease towards the next Outer Coin Dip levels of 28200 and 26900. However, a dead-cat rebound toward the Mean Resistance level of 30050 is not ruled out.
Global Net Liquidity and SPX 500 Comparison The Global Net Liquidity (“GNL”) indicator provides an overview of how five major central banks liquidity provisions are collectively performing. This allows us to get a sense of whether global money supply is increasing (expansionary) or decreasing (contractionary). The GNL can provide a general indication of how...
Technical Analysis and Outlook: This week, the coin just churned about our Mean Sup 29900. Any attempt to develop a sustainable upside move is laying on contingency by completing and retesting Mean Sup 28700.
M1 Money Supply (M1SL): "M1 is the money supply that is composed of currency, demand deposits, other liquid deposits—which includes savings deposits. M1 includes the most liquid portions of the money supply because it contains currency and assets that either are or can be quickly converted to cash." - Investopedia The M1SL amount is important since it tracks the...
Technical Analysis and Outlook: This week, the coin completed our Outer Coin Rally 31700 and re-traced severely hard to Mean Sup 29900. there's also a chance it will drop significantly to Mean Sup 28700 before recovering. On the upside, the coin might take a swift upward move to retest the completed Outer Coin Rally 31700 and Key Res 31500.
Technical Analysis and Outlook: This week, the coin retested our Mean Sup 29900 and is currently fluctuating unpredictably. The price will likely go up to finish Outer Coin Rally 31700, but there's also a chance it will drop significantly to Mean Sup 28700 before recovering.
NSE:CENTRALBK Date: 03/07/2023 --- Disclaimer: This is just my observation, please do not consider this idea as financial advise. It is important that each individual should due his/her own due diligence before taking a financial decision, more so in the money markets! --- The uptrend seen in the chart is reflected in the RSI. This indicates a good...
Technical Analysis and Outlook: The coin following the completion of the Inner Coin Rally 30500 is gyrating between the newly created Mean Res 30800 and Mean Sup 29900, suggesting its higher price advancement. The upcoming primary target is Outer Coin Rally 31700, along with Key Res of the same price. We may be experiencing a brief pause before the next Outer...
Investors Await Central Bank Actions Amid Global Economic Concerns and Uncertainties Prevail Today events: USA - Building Permits (May) USA - FOMC Member Bullard Speaks USA - Housing Starts (MoM) (May) USA - FOMC Member Williams Speaks Eurozone - ECB McCaul Speaks Eurozone - ECB's De Guindos Speaks On the evening of Monday, following a public holiday, there...
This update demonstrates the price action trend of BTC, indicating potential future movements and possible breakout points. The price action at 29,600 suggests a high likelihood of BTC breaking out toward the target of $31,000 and the price action further to $40,000 From a technical perspective, it appears that 47,000 could be a significant target in the near...
Technical Analysis and Outlook: The coin has invalidated our completed Inner Coin Dip 25800 and Mean Sup 25700. Doing so opened the down trading area envelope to Outer Coin Dip 23950. However, a reignited rally might take us to Mean Res 27300 and Mean Res 28250, respectively. Trade Selecter will closely monitor any updates and share any valid confirmation with...