Page 18 of 21
The left chart below shows BTCUSD's daily time frame. Its heiken ashi candle is red and inside of the weak area, between the lower blue and red bands. The daily stochastic is below 20 and indicative of bearish momentum. The right chart is BTCUSD's hourly time frame. The stochastic has turned down and the EMAs are threatening to cross bearishly (aqua ellipses). If they succeed, it will be negative for…
Were you waiting to buy the dip? If so last week was your chance, as the largest cryptocurrency by market cap and popularity dropped to $47,000! Is the bear market knocking on the door or was it just a correction? Just a matter of time until we find out
Bitcoin is currently trading at $51,000. This is ~26% down from its 10 November high of 60,900. An astounding quarter of its value was wiped out in just under a month. It's also a 50% retracement from its July low (green horizontal). However, in terms of peak and trough analysis and despite its mammoth decline, BTCUSD has a higher trough followed by a higher peak. This is the definition of…
Morgan Stanley accumulate more Grayscale Bitcoin shares Morgan Stanley, one of the largest investment banks in the US, continues to double down with Bitcoin and added more shares of Grayscale's Bitcoin Trust (GBTC) to a number of their funds. In its latest report to the SEC, the company revealed that it increased its Bitcoin exposure while taking advantage of GBTC discount rates. As of writing GBTC discount sits at 12.32%…
By any standard, it was an a crazy week for DAOs (decentralized autonomous organizations) but there was also a large amount of fundraising that caught our attention. We have a lot to cover so let's dive deeper.
Record-high inflation and Bitcoin with a new All Time High! During the pandemic, the money printer went berserk, increasing the dollar supply by 35% in only 18 months. Initially, the FED stated that there will be no inflation but shortly after the U.S "Central bank" changed its mind noting that the inflation will be "transitory". Despite the FED's positive overview, it seems that the inflation is here to stay. Last…
Past performance is not an indicator of future results Bitcoin has charted a higher trough followed by a higher peak. This is the technical definition of an uptrend. Price is struggling at the resistance area around 64,000 (red shaded horizontal). To break through this level, bullish momentum must be maintained and the stochastic (blue line) helps in assessing if that momentum is present. The stochastic is a measure of price…
Here on our weekly update, we keep you updated on the most essential topics from last week in the Crypto world Cathie Wood still believes in Robinhood ARK Invest, the company led by Cathie Wood, invested heavily in Robinhood, despite its poor financial results for Q3 2021. Wood's business bought 2,240,680 shares, valued at as much as $79.4 million. According to data disclosed by ARK Invest the purchase is spread…
If you are a crypto enthusiast then you know it was a crazy week in the markets!! Let's check out the highlights: Bitcoin hit a new all-time high, Ether follows First Bitcoin ETF trades near $1B on its first day Grayscale to "force the SEC's hand" with its Bitcoin ETF application Bitcoin hit a new all-time high, Ether follows The price of the largest cryptocurrency by market cap is skyrocketing.…
As cryptocurrency gains more widespread adoption and popularity, crypto mining companies are coming under the spotlight. Instead of buying Bitcoin or Ethereum, crypto traders and investors are buying crypto mining stocks in order to gain "crypto exposure". These crypto mining stocks are attractive to the more risk averse trader as they tend to experience lesser market volatility than the underlying coins. How are these companies making money? Like any other…
Ethereum "London upgrade" is rolling out today - what can go wrong? Today is a historic moment for the crypto community because one of the long-awaited updates in Etherium is on its way. In the last few days, Ethereum price surged above $2700 - the main reason - "London upgrade". What is the "London upgrade"? The "London upgrade" will integrate 5 protocols that are expected to improve the Ethereum network.…
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.