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Silver could rise 2k pipsIn my previous analysis of Silver, I highlighted the 31.40 resistance zone, suggesting that the price could reverse from that level and potentially drop below 30. Initially, the price did retreat after touching the 31.40 zone, but it lacked follow-through to the downside. As of now, Silver has returned to this key resistance area. Recent price action resembles a "build-up" pattern, with the market steadily pressing against this resistance. A decisive break above 31.40 would also activate a double-bottom pattern visible on the daily chart. Based on the measured target for this pattern, Silver could gain as much as 2,000 pips in the days ahead.
OANDA:XAGUSDLong
by Mihai_Iacob
2
BTCUSDT Up trend continuationBTC/USDT experienced a sharp decline before stabilizing. Prior to this movement, the price formed a triangle pattern. Currently, the price is pulling back to retest the midpoint of the pattern, which often acts as a support and resistance zone. On the daily timeframe, the market dipped below the previous daily low, indicating a potential upward movement. If the market successfully rejects the support level and the downward trendline, a price increase could potentially test the upper boundary of the channel. The target is the resistance zone around 105,000
Long
by RTED_Investing
Bitcoin - Bitcoin finally reached 6 digits!Bitcoin is above the EMA50 and EMA200 in the 4H timeframe and is trading in its ascending channel. risk ON sntiment in the US stock market or investing in Bitcoin ETF funds will lead to its continued upward movement. which will cause the failure of the resistance zone. After the authentic failure of this area, we will see Bitcoin reach the ceiling of the channel. Capital withdrawals from Bitcoin ETFs or risk OFF sentiment in the US stock market will pave the way for Bitcoin to decline. The target of this downward movement will be the level of 90 thousand dollars. It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and compliance with capital management in the cryptocurrency market will be more important. Last week, Donald Trump appointed Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC), a decision that sparked mixed reactions. Hester Peirce, popularly known as the “Crypto Mom,” expressed her strong support for Atkins to replace the current SEC chairman, Gary Gensler. She stated, “Based on my previous experience working with him in this organization, I can’t imagine a better candidate for this position.” Meanwhile, Caroline Crenshaw, a current member of the SEC, has been nominated for another term and now awaits Senate confirmation. If approved, she will serve on the commission until 2029. During her tenure, Crenshaw has taken a notably strict stance on cryptocurrencies, earning a reputation for being even tougher than Gary Gensler. One key point of contention is her opposition to approving Bitcoin Exchange-Traded Funds (ETFs). In a letter dated January 2024, she cited concerns such as investor protection and market manipulation as reasons for her dissent. These views have led some to label her as the primary adversary of the crypto industry. Bitcoin Spot ETFs now hold over one million bitcoins, surpassing the holdings of Bitcoin’s anonymous creator, Satoshi Nakamoto. Within less than a year, these funds have become the largest bitcoin holders in the world. Lawrence Summers, a former U.S. Treasury Secretary, told Bloomberg that the idea of establishing strategic bitcoin reserves is “ridiculous.” However, he welcomed efforts to regulate the crypto space and foster financial innovation. Summers also expressed skepticism about reducing government spending through the Productivity Department, calling it a challenging path. The performance and weekly and annual returns of major Layer 1 cryptocurrencies are shown in the accompanying chart. Meanwhile, Pavel Durov, the founder of Telegram, appeared in a Paris court to face charges of facilitating illegal activities through his messaging app. Durov, who was temporarily detained on August 24, was released after posting a $6 million bail but has been barred from leaving France until March 2025. French prosecutors have accused him of running a platform that aids illicit activities. If convicted, Durov could face up to 10 years in prison and a fine of €500,000. This case has raised concerns about privacy-focused technologies in the Web3 space. At the same time, the number of cryptocurrency wallets with non-zero balances has reached 400 million. Michael Saylor, the CEO of Microstrategy, recently shared his proposed bitcoin purchasing strategy with crypto enthusiasts. He reiterated that bitcoin should be considered a long-term asset and advocated for using a Dollar-Cost Averaging (DCA) strategy for sustainable growth. Saylor, one of bitcoin’s most prominent supporters, stated that for the past four years, he has consistently advised investors to “buy bitcoin and never sell.” He emphasized that bitcoin should be held as a long-term capital asset rather than a short-term profit tool. Saylor recommended that investors enter the market every three months using funds they do not need and hold the investment for at least ten years. He also stressed that investors should not worry about short-term volatility and should avoid stress by adhering to this strategy. The trading volume of spot cryptocurrencies reached $2.7 trillion last month, marking the highest level since May 2021. A new survey revealed that over 80% of cryptocurrency holders admitted that their investment decisions were influenced by emotions like Fear of Missing Out (FOMO) and Fear, Uncertainty, and Doubt (FUD). The survey, which included 1,248 participants, showed that 84% invested due to FOMO and 81% due to FUD. Kraken Exchange commented that the findings suggest many investors trade based on emotions and fears rather than logical strategies. These emotions often stem from misunderstandings or mistrust about the future of specific cryptocurrencies. The survey also revealed that FOMO drives investors to chase rising prices, while only 17% focus on buying opportunities during price drops. Interestingly, 63% of cryptocurrency holders acknowledged
COINBASE:BTCUSD
by Ali_PSND
EURUSD InsightHello, subscribers! Great to see you all. Please share your personal opinions in the comments. Don’t forget to like and subscribe! Key Points: - The Federal Reserve enters its blackout period. - Canada’s unemployment rate rose to 6.8% in November from 6.5% in the previous month, raising expectations for a 50bp rate cut by the Bank of Canada. - U.S. nonfarm payrolls for November came in at 227,000, surpassing the market forecast of 200,000. The unemployment rate matched expectations at 4.2% but increased from the prior month. - Mary Daly, President of the San Francisco Federal Reserve, stated that the Fed is ready to raise rates again if inflation rises. - The Swiss National Bank sees mixed expectations of a 25bp or 50bp rate cut, while the Reserve Bank of Australia is expected to keep rates on hold. Major Economic Indicators: - December 10: Reserve Bank of Australia rate decision, Germany’s November Consumer Price Index (CPI) - December 11: U.S. November CPI, Bank of Canada rate decision - December 12: European Central Bank rate decision, U.S. November Producer Price Index (PPI) - December 13: UK October GDP EUR/USD Chart Analysis: EUR/USD climbed to the 1.06000 level but faced resistance and has slightly pulled back. Failure to break through the resistance level suggests a high likelihood of retreating to the 1.04500 level. For this week, the short-term outlook is bearish, but we will adjust our strategy based on the interest rate decisions from major economies.
Short
by shawntime_academy