Bitcoin Price and DominanceHello traders.
Sharing a Bitcoin analysis along with its dominance in the right panel.
🗓 Today (on 04/18) the price retraced to the exponential average of 21, in the 61.8% Fibonacci retracement.
💹 Continuing this bullish move, the next target by the Fibonacci projection would be at $ 31,387.00
Should there be a further correction, a possible entry point would be below the last low at $ up to $ 28,917.00, only after a confirmation of a bear trap.
🔎 Looking at the Bitcoin dominance chart on the right, we can see that the index is in an important region, testing the 200-period exponential moving average.
That said, we can outline the following scenarios:
🚀 🔴 If the crypto market continues to rise, but BTC dominance drops and does not break through this resistance, it means that Bitcoin will be performing worse against altcoins;
🚀 🔵 If the crypto market continues to rise, and BTC dominance rises, breaking this average, it means that Bitcoin price will perform better than altcoins;
🐻 🔵 If the crypto market undergoes a correction, and BTC dominance rises, it means that altcoins will be falling more than Bitcoin;
🐻 🔴 If the crypto market undergoes a correction, and the dominance of BTC falls, it means that Bitcoin will be falling more than altcoins.
I hope this helps.
Centered Oscillators
MUX: a decentralized derivatives market aggregator📜 Overview
The MUX Protocol Suite is a set of two components:
1. a decentralized leveraged trading protocol, offering zero price impact trading, up to 100x leverage, self-custody, aggregated liquidity;
2. a sub-protocol that automatically selects the most suitable liquidity route and minimizes the composite cost for traders while meeting the needs of opening positions.
Currently MUX is deployed on Arbitrum , BNB Chain , Optimism , Avalanche and Fantom .
In short, just as 1INch is to Uniswap , PancakeSwap , Curve , and other DEX, MUX is to GMX and GNS .
📈 Graphic analysis
The price is in an impulsive wave 3.
A possible entry would be after an ABC correction at $9.25.
If the price breaks the last historic high and rises wildly, expect a throwback.
The target on the 1.618 Fibonacci projection sits at $37.36, having a 167% upside potential.
Comparing this asset with others of the same class of derivatives, perpetual or futures (putting BTC together just to have a reference), we can see that this year the MUX token performed the best.
⚠️ It is worth mentioning that it is a highly risky and speculative operation, with an asset that is under the radar.
It still does not have trading on large exchanges, such as Binance and Coinbase for example.
Do your own research and take your risks.
Nathan's Famous (NATH) Set to Take Off for Q3'23 through Q1'24Macro Trend Lines from All Time High and before are converging before the end of the year and and into Q1'24. With this convergence and the MacD looking the lowest it's been since May of '22 where NATH then went on to gain nearly 200% value over the next 16 months. This one is a long term buy, and will continue to perform well into '24.
Stocks Could Be Preparing for a Big MoveSeptember’s been a pretty quiet month so far, despite its reputation for volatility. However, prices might be gearing for a bigger move relatively soon.
The first pattern on today’s chart of the SP:SPX S&P 500 index is Wilder’s Relative Strength Index (RSI). The oscillator has been sitting little changed around the midpoint of 50 for the last week. It’s neither overbought nor oversold. Readings like this are unusual. Will traders pile in on either side once a move begins?
Next, the index is in the midst of forming a second consecutive inside week. That also highlights the narrowing of price action.
Third, consider the rally from the low of August 14 to the high of September 1. SPX has held a 50 percent retracement of that move, which may bolster the case for an upward trend.
Another potentially bullish signal is the relationship between the 8-day and 21-day exponential moving averages (EMAs). The faster EMA crossed above the slower EMA almost two weeks ago and has remained there since.
These points could be important heading into next week’s Federal Reserve meeting.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
Roku Pulls Back After an Earnings RallyLike many growth stocks, Roku pulled back sharply in 2022. But now after a year of consolidation, the streaming-video company may be trying to recover.
The first pattern on today’s chart is the bullish gap on July 28 after quarterly results beat estimates.
Second, ROKU pulled back to form a base around $76 after the rally. That was near the peaks of mid-June and mid-July. Has old resistance become new support?
Third, August’s trough represented a higher low than late July, continuing the series of higher lows that have developed all year. The recent spike above $98 was also the third successive higher high.
Next, the bounce in mid-August occurred at the 50-day simple moving average (SMA). The 50-day SMA additionally had a “golden cross” above the 200-day SMA in April, which may suggest its longer-term uptrend has turned more bullish.
Shorter term indicators could also be more positive as stochastics rebound from oversold and the 8-day exponential moving average (EMA) crossed back above the 21-day EMA.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
RSI Slowdown Hits Low for BTC in Last 2 WeeksIntroduction:
In the fast-paced world of cryptocurrency trading, it's crucial to stay updated on market trends and indicators that can influence your investment decisions. Bitcoin (BTC) has recently experienced a significant slowdown, as the Relative Strength Index (RSI) indicates. This article aims to shed light on this development and provide a cautious call to action for traders considering shorting BTC.
Understanding the RSI Slowdown:
The RSI is a popular technical indicator used to assess the strength and momentum of an asset's price movements. It helps traders identify potential overbought or oversold conditions, thus aiding in decision-making. Over the last two weeks, the RSI for BTC has hit a low point, suggesting a possible slowdown in its upward trajectory.
Cautionary Analysis:
While the RSI slowdown may raise concerns among traders, it is essential to approach this situation cautiously. The cryptocurrency market is highly volatile and subject to sudden fluctuations, making it necessary to consider various factors before making investment decisions. Here are a few points to keep in mind:
1. Historical Patterns: Past performance does not guarantee future results. While the RSI slowdown may indicate a potential downturn, analyzing historical patterns, market sentiment, and other indicators is crucial to comprehensively understanding BTC's current state.
2. Fundamental Analysis: Bitcoin's value is influenced by numerous factors, including regulatory developments, global economic conditions, and technological advancements. Traders should conduct a thorough fundamental analysis to assess the long-term potential of BTC before considering shorting it solely based on the RSI slowdown.
3. Risk Management: Shorting BTC carries its own set of risks. Traders must carefully evaluate their risk tolerance, set stop-loss orders, and diversify their portfolios to mitigate potential losses. It is essential to have a well-defined risk management strategy in place to protect your investment.
Call-to-Action: Consider Shorting BTC with Caution
Given the RSI slowdown in the last two weeks, traders may be tempted to short BTC. However, it is crucial to proceed with caution and consider the following steps:
1. Thorough Analysis: Conduct a comprehensive analysis of BTC's price history, market sentiment, and other technical indicators to gain a holistic perspective on its current state.
2. Consult Expert Opinions: Seek advice from experienced traders or financial advisors with in-depth cryptocurrency market knowledge. Their insights can help you make informed decisions based on a broader perspective.
3. Risk Management: Before shorting BTC, ensure you have a well-thought-out risk management plan. Set realistic profit targets and implement stop-loss orders to minimize potential losses.
Conclusion:
While the RSI slowdown in the last two weeks may raise concerns among traders, it is essential to approach the situation cautiously. The cryptocurrency market is highly unpredictable, and shorting BTC solely based on one indicator may not provide a complete picture. By conducting thorough analysis, seeking expert opinions, and implementing robust risk management strategies, traders can make informed decisions aligning with their investment goals.
BTC Dominance: Overbought Altcoins and Reversion to the MeanWith many altcoins appearing overbought in relation to Bitcoin (BTC), as evidenced by the Relative Strength Index (RSI) across multiple timeframes and lengths, there is a strong possibility of a reversion to the mean (a BTC Dominance bounce up from around the physiological 50% level).
Most often it is argued to not use the RSI as an oversold/overbought indicator but I have always found it very useful when used in confluence with many lengths and timeframes, as a mean reversion indicator. (as seen in this chart)
Although I don't have a predefined profit target or stop-loss in this scenario, the chart suggests a potential reversion to the mean for BTC gaining strength over the rest of the cryptocurrencies.
Expecting Bullish Upward Wave After multiple weeks in a downtrend, EURUSD is finally showing signs of life.
1. The Schema Band is showing a very positive turn for the first time since July 26
2. CDV Momentum is up without much volume, so lots of room to run.
3. DMI FLEX has not expanded and flexed, so again there should be room to run.
EURUSD 1.1000 appears to be an achievable target.
Has CAT Run out of Lives?Caterpillar has been leading a rally in industrial stocks, but now some traders may expect a pullback.
Notice the gap to new record levels on August 1 after earnings beat estimates. CAT pushed to another high the following session but failed to hold and closed in the red. That kind of “shooting star” candlestick is a potential reversal pattern.
Second, the surge pushed Wilder’s Relative Strength Index (RSI) far into overbought territory. It’s now retreating from that condition.
Third, a narrowing price range since the rally produced a triangle. Prices broke the bottom of that formation yesterday. They also closed below their 8-day exponential moving average (EMA) for the first time this month.
Traders looking to the downside may target the $270 area or lower, which corresponds to the recent gap.
The macro backdrop could also worry some investors, given China’s economic weakness lately.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
Falling Wedge in Microsoft Technology stocks have retreated this month as the AI frenzy cools. Microsoft, in particular, has pulled back.
The first pattern on today’s chart is the narrowing range since the slide began in late July. MSFT has made lower highs, but lower lows at a shallower pace. That could have produced a descending triangle, which is potentially bullish.
Second, consider the rally between April 25, when results beat estimates, and July 18, when the company announced pricing for its AI services. The current pullback represents about a 50 percent retracement of that move.
Third, the software giant has remained above its 100-day simple moving average (SMA) since January. But now prices are returning to the vicinity of this longer-term trend indicator.
Finally, stochastics have been in oversold territory for more than a week.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
BNKU- Triple Leveraged Bank Sector LONGOn the hourly chart, BNKU fell from a head and shoulders in late July , crossed
under VWAP lines in a VWAP breakdown and pullback before an inverse head and shoulders
type reversal now underway. The zero-lag MACD is confirmatory. I will take a long
trade here. Projected stop loss and targets ( TP1-40% TP2 40% and T3 20%) are on the
chart. I see this as a very safe trade with an estimated 12% overall profit expected.
I am in a WFC trade and looking at ETFs DPST and KRE as well
BTTR- a volatile pre-earnings high flying penny stock LONGBTTR has been slowly gathering steam since last week. Today the buying momentum
went into high gear with a big jump. This is a penny stock about as volatile as it gets
with its backstop far below current market price. With earnings in two days BTTR could
easily run another 30% turn around and fall. The price action and the MACD speak for
themselves. I will take a small position about 3% of my account with a stop loss of 10%
given the volatility. I will advance the stop loss but give room to account for the volatility.
I would like to make about 20-25% on this trade over 2-3 days and will have TV alerts to
let me know when the tide is about to go out. One alert will be the fade on the Price Momentum
Oscillator while the other price crossing down on the faster HMA.
BIOL- running earnings 8/10 LONGBIOL had a triple top in late July so this is a logical long target at 8,0, With earnings in less
than two days, volumes above the mean in the past couple of days and a decent
price-volume product trend coupled with a Price Monetum Oscillator without any signs
of topping out in a momentum stall or fade. I see this as a long pre-earnings play
with about 12% upside to the target from the current price. BIOL has no options. The
last earnings were a solid cash making top and bottom line beat. Go BIOL !
UUUU entry - sub $6Energy Fuels (UUUU) is a Uranium and Vanadium mining company that is domestically sourced low carbon renewable energy fuel (U( and steel strengthener (V2O5).
* Improving earnings - nearing profitability
* Domestic contract growth
* By-product Vanadium is also in demand - steel recycling
* Energy market can not rely on oil and LNG alone
* MFI crossing 50% and consolidation and buying will increase scarcity
* CCI momentum hitting bottom
Entry this week after dropping below $6 with limit buys and retracing back to 238 fib level. Will watch for drop to full retrace to $4.90 (exit before) or a more likely climb to 500 retracement at $8 and watch for break through or more consolidation.
Own opinions of energy market - come to own conclusions, or comments here welcomed. Like to hear what others in energy market have to say. Warm winter LNG will get us through, what stocks are you loving for 2023?
@Pokethebear
@rudcharts
Oracle Is Oversold Despite Barely DroppingOracle gapped to record highs almost two months ago, and now it could interest some trend followers.
The first pattern on today’s chart is the $114.34 level. It was both the opening price and low on June 12, the same day earnings and revenue beat estimates. The software company held that zone in late June, mid-July and again last week. Interestingly, it’s exactly $8 above the previous record high from late 2021. Has new support been confirmed above the old peak?
Second, the series of lower highs has produced a descending triangle. This may create the potential for a breakout.
Bollinger Band Width also shows volatility tightening. That narrower price action may result in price expansion if a breakout occurs.
Fourth, the 50-day simple moving average (SMA) has caught up with the stock during this period of sideways movement. Intermediate-term trend followers may view that as a potential entry point.
Finally, the stochastics oscillator has moved into oversold territory despite ORCL barely falling.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
DXY 4H / DAILY RSI fib 144 AnalysisThe DXY is at a major crossroad. If Inflation report on the 10th is less than expected, then I expect they DXY to continue in a bearish direction. I am neutral here.
The RSI is showing desperate bulls. If the inflation report is lower than expected. Look at chart for fall back zone to rebuy if you are still bullish on the dollar.
Just to let you know, this will have major implications with the future of BTC's next bull run.
Good luck
TMV leverage inverse ETF for treasuries SHORTTMV on the one-hour chart tested two standard deviations above the mean VWAP in
both late May and early July it fell to one standard deviation below VWAP but then rose
sharply into beyond the two standard deviations line ( thick red ) ascending into a YTD high.
I believe that this is due to the recent federal debt creditworthiness downgrade.
The threatened rise of BRICS reserve currency and potentially adversely affects the
value of the dollar ( DXY) while supporting gold prices. I see this as a good continuation play
no matter the overextension of price. Both the dual MTF and the zero lag MACD however
suggest a pullback. The mass flow indicator does as well. As a result I will look at TMF
to go long trusting the indicators to give me a directional bias.
TMF ( 3X Treasuries)beatdown completed reversal underway LONGOn the one-hour chart, TMF a triple ETF of long-expiration treasuries has finally
completed its downtrend or ten days given more bearish momentum with the federal
debt downgrade of creditworthiness as well as the rise of BRICS as a reserve currency.
Three indicators show bullish divergence with a MACD cross under the histogram. The
30 minute RS line rising before the 2 hr RS line reacts and importantly a mass index
signal rising into the reversal line and then a drop. While none of this is a Holy Grail,
I am confident that the bias here is bullish. I will trade long if you are interested in
the stop loss and targets let me know. If you would lke my idea of an options setup, let
me know as well. If this idea is helpful, please like and subscribe. Trade well !
Apple Gapped Lower. Now What?Apple gapped lower on Friday thanks to a ho-hum quarterly report. Is it an opportunity for longer-term buyers?
The first pattern on today’s chart is $182.94, the previous all-time high from early 2022. AAPL challenged this price on June 5 after unveiling its virtual-reality headset but was initially rejected. The stock kept pushing and made new highs a couple of weeks later. It also bounced at the same level in late June, turning old resistance into new support. Traders may look for entries in this area over the next week.
Second, the current drop represented the first break under the 50-day simple moving average since January.
Third, stochastics have dipped into oversold territory.
Finally the calendar has potential importance with new iPhones expected in September. That could also keep buyers interested over the intervening weeks.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
SQ WVAP Breakdown into Earnings LONGOn the 30- minute chart BLOCK ( SQ) broke down from a VWAP pop last week into
a drop this week to earnings which were a 7% beat on earnings. MACD lines are about
to cross. he lower RS line in green is showing bullish divergence while the mass index
signal is in the reversal zone looking to trigger with a fall. Finally the narrow range or
flat candlebars at the end of the price action show the reversal is impending.
I see this as a fade into good earnings worthy of a reversal long and so I will take that trade.