Tradersweekly

Tradersweekly

Per the request from our audience, we would like to take a look at SUNUSD. Based on the information available on Binance’s website, this cryptocurrency was created in connection with the Sun platform and is intended to promote the development of decentralized finance on the TRON blockchain network. In 2021, the Sun token was swapped with a new version of the token...

Tradersweekly Updated 

A few weeks ago, we noted that the mania in the cryptocurrency market seemed to reach levels coinciding with the summer of 2021. Nevertheless, as Bitcoin’s price increases, the narrative about the “complacent plateau” and the never-ending rally grows stronger as well, making the current time reminiscent of late 2021. As a result of the massive rally, investors in...

Tradersweekly

Following the release of worse-than-expected inflation data in the United States, the volatility jumped by an astounding 26%, and major stock market indices turned lower. Then, yesterday, the situation quickly cooled down, and indices erased much of the post-release losses. In the process, the SPX returned above the critical level of $5,000, and the VIX dropped...

Tradersweekly

Finally, our expectations for gold to slide below $2,000 were fulfilled yesterday when the shiny metal sold off following the release of higher-than-expected inflation data in the United States. Given the hell breaking lose (yesterday) in the stock market, we remain concerned about gold’s performance in the short and medium term (while being bullish in the long...

Tradersweekly Updated 

The major U.S. stock market indices are trading in the negative territory ahead of the release of inflation data and the Consumer Price Index (CPI). A hotter-than-expected print is likely to produce a pop in volatility and convince central bankers in Washington to keep monetary conditions tight during the upcoming meeting in March. Consequently, we pay close...

Tradersweekly Updated 

In the previous article about Bitcoin, we discussed the rise in the number of large speculators, the distortion of the bearish structure in RSI, and a bullish breakout in MACD (on the daily time frame). Since then, MACD and RSI have continued to trend higher, with the RSI reaching the overbought zone. At the same time, the ADX began to trend higher, suggesting the...

Tradersweekly Updated 

The VIX failed to close the opening gap it formed yesterday, which is slightly concerning news (especially if also considering an ongoing bloodbath in the Asian market and the potential spillover effect into Western equity markets). As a result, we are closely monitoring the resistance at $14.49; a breakout above it will bolster the bullish case for the VIX, while...

Tradersweekly Updated 

Overnight, Bitcoin leaped higher, breaking above $44,500. As this move was preceded by an aggressive rise in the number of Bitcoin addresses with balances exceeding 1,000 BTC, we consider it important to watch out for what will happen to this number in the upcoming days; a drop in the figure could suggest large speculators are utilizing an uptick in the price to...

Tradersweekly

Earlier this year, we reiterated our long-term bullish view on gold with a price target of $2,300 per troy ounce. We continue to hold this view; nevertheless, in the short-term and medium-term, it is increasingly likely that we will see a significant pullback in the price, with gold falling below $2,000. As we described previously, we do not intend to sell our...

Tradersweekly

The hopes for higher oil prices were shattered last week with the announcement of a potential Hamas-Israel ceasefire deal, which led to a quick selloff in the oil market. Following the invalidation of a bullish breakout above $76.14, the price of oil kept sliding lower, finally hitting a low of $71.43 yesterday. Currently, the WTI crude oil trades close to $72.80...

Tradersweekly Updated 

Bitcoin has been moving along the channel’s lower bound for over a week, with its trend turning increasingly neutral, as reflected in the declining ADX on the daily graph; in addition to that, the RSI has failed to distort the bearish structure and MACD has begun breaking above the midpoint. At the same time, the number of Bitcoin addresses exceeding 1,000 BTC has...

Tradersweekly Updated 

The United States’ decision to conduct airstrikes earlier this week against targets in Somalia and Yemen provoked more aggression from Houthi rebels, who engaged in multiple new attacks against commercial vessels in the Red Sea and the Gulf of Aden. Following that, Yemen’s rebels claimed a successful hit to the U.S. military ship, which the United States quickly...

Tradersweekly Updated 

Unsurprisingly, yesterday’s FOMC meeting resulted in no change to the monetary policy. Then, during the press conference, Jerome Powell discussed the resilient economy, strong labor market, and persistent challenges to taming inflation. At some point during his speech, the stock market erased its losses and entered a green territory. However, this optimism lasted...

Tradersweekly

Multiple developments are catching our attention as Bitcoin trades near the lower bound of the upward-sloping channel. First, for the past twelve days, there has been one of the most aggressive increases in the number of Bitcoin addresses with balances exceeding 1,000 BTC; at the same time, the opposite has been happening among the addresses with balances...

Tradersweekly

Yesterday, the SPX closed above $4,900 for the first time in history. Now, the question is, can it close above this level for multiple consecutive days? If yes, it will be positive for the index. However, a breakdown below $4,900 will be slightly concerning. Similarly concerning will be if RSI, MACD, and Stochastic start reversing to the downside on the daily...

Tradersweekly Updated 

Although founded in 1948, Porsche became a public company in late September 2022. Initially, the company started to float on the market with an opening price of €84. However, shares rose as high as €120.80 in the coming months. Yet despite these impressive gains since the IPO, shares of the company began to decline in May 2023, losing about 20% of their value...

Tradersweekly

Bitcoin edged higher over the weekend, briefly reentering the upward-sloping channel. At the same time, the number of Bitcoin addresses with balances exceeding 100 BTC and 1,000 BTC increased, suggesting big speculators might not be satisfied with the price yet to unload their newly acquired tokens during the dip. Therefore, our focus is on the lower bound of the...

Tradersweekly

Since the plunge to $38,505 on Monday, Bitcoin has been trending mainly sideways around the critical level of $40,000. Meanwhile, the number of Bitcoin addresses with balances exceeding 1,000 BTC ticked slightly higher; the same applies to the addresses with balances exceeding 100 BTC. On the daily chart, the RSI began to flatten around 35 points, Stochastic...