El Salvador has used Bitcoin for a year. El Salvador started using Bitcoin as a legal tender a year ago after President Nayib Bukele made a contentious choice. The public welcomed the new chance with enthusiasm, but since then, Bitcoin's value has fallen, and some experts believe the initiative was a disaster. Bitcoin is up 2.72% today, Ethereum is up 8%, and...
SPX has bounced as predicted, but the strength wasn't there - it went even lower before retesting the local top, but now parameters are looking great. Trend Exhaustion is very low on H4, Highs&Lows and Momenter are also on the lower part of the graph - and most importantly - RSI is totally oversold. Upcoming NFP could be a trigger to push the markets up next week.
Here as expected - DXY is exhausted with pushing so much up, that it didn't even reach the wedge's top line and stopped at the horizontal resistance. It started moving down and expecting it to move as I previously predicted - go for the bottom of the wedge - and a final bounce up and go down for the much needed retracement. Additionally EURUSD is also looking...
After the HTF wedge breakout - we are expecting a retest - and it just started going down filling the gaps - although we didn't fully reach my wedge target yet. Therefore I expect it to happen after we retest the wedge (even better if we do so before that). One thing is good here - VIX didn't go parabolic after a long bullish streak on the markets - meaning...
Recent pullback likely nothing more than a shakeout before we moon. We have corrected to fib 0.618, 4hr Vegas Wave, and trend line, so there is a strong possibility we start moving back up from here.
Key points: EUR/USD about to test its 55-day ma and downtrend at 1.0371/85 We have a mild buy signal on the daily DMI, which we have not seen since June The market is turning at the base of its longer tern down channel and long term Fibo Should A CLOSE above the downtrend occur we should see a stronger corrective move to 1.05 then 1.0636 The Society of...
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Hi all, DXY is in parabolic trend and cash is king. 9 WEMA holding like a hero so no many reason to be bearish until now. However a bearish divergence can slow the parabolic trend. If DXY slows down we can see the markets pumpin' for short term. The BTC and crypto can also see a bear market pump. What do you think?
With the US continuing to increase interest rates and potentially being in a recession, it was surprising to see markets perform so well last week. However, with Powell seemingly inferring a softer stance, the S+P charted a decent rally. Technically we continue to view the rebound as a bear market rally that has already reached the 50% retracement of the sell off...
TL;DR Breakdown Swell ODL volume expanded 9x YoY during the last quarter of 2022. In Q2, the blockchain organization sold more than $408 million in XRP tokens. Be that as it may, both the cost and volume of the XRP declined in the midst of specific market factors. Blockchain installment organization Ripple delivered its Q2 monetary report on Friday, itemizing an...
This is a trade example of how the Quarters theory trading system works with market session activities highlighted. We are looking at a 25 pip chart. Trading between 1.76 and .175 over the last 2 weeks we have seen 13 successful trades within a 10 cent range. I go over this system a lot because of its low risk high reward strategy of 1:4 1:10 and 1:100 very nice....
"Gasoline... breakfast of champions" - Joe Dirt Consistent with our view of #Oil, gasoline shows us a beautiful bear wedge. Are we all just expected to pay $4.50+ / gal of gasoline? This seems like a tall ask for the American consumer, considering prices are significantly elevated across most of the American ( & global ) economy. Emerging markets getting beat...
So here is detail analysis of btc on weekly time frame BTC is trading in long term bearish trend and now currently trading at 19.4k with strong support 18.5k and 17.5k which is local Demand zone and 29k ATH Resistance and strong resistance of last upward trend at 23k . On breakdown from 17.5k market will be on the way towards deom 13.5k to 12.8k area....
Q1 0.7 - 0.675 Over the last 2 months this price point has seen weakening buyer over time as we approach 0.675 expect a relief rally of sellers that have gotten in near the top of the quarter. 21 day 14 day Vwap These show us the momentum of the chart has been to the downside If we were wanting the best entry we would wait till price gets closer to the 14 - 21...
Corn Fundamentals: Corn futures have traded both sides of unchanged in the overnight and early morning session as prices consolidate ahead of end of month, end of quarter, and all-important USDA report. The range of estimates for acres comes in from 88.4-91.0 million. In March the USDA was at 89.5. The average estimate for US corn stocks as of June 1 is 4.345...
Gold flirts with the lower end of the bear flag at press time. A UTC close lower would signal a resumption of the broader downtrend, represented by the falling channel. Support at $1,787 (May 16) and $1,757 (Dec. 15 low). Macro supports bearish case - Talk of ECB 50 bps rate hike in July + continued Fed tightening.
Soybeans Fundamentals: Soybean futures are higher this morning after yesterday’s crop progress report showed a drop in good/excellent conditions of 3%. Keep in mind that we are still 5% better than where we were at this time last year. All eyes will be on Thursday’s USDA report. The range of estimates for planted acres is 89.2-92.4 million, the USDA was at 91.0...
Corn Technicals: In yesterday’s morning report we wrote that the early morning weakness below the 50-day moving average (near 780), stating that it “opens the door for a potential retest of significant support from 747-753”. That support was tested and held to a T through the session and in the overnight/early morning trade. Now it’s up to the Bulls to defend it...