Bitcoin has often been traded at a higher price than overseas in Korea.
Each time, Bitcoin plunged.
This phenomenon was called 'KIMP(Kimchi premium, Korea Premium)' in Korea.
Bitcoin is now traded at 15% higher prices than overseas in Korea.
It is expected that Bitcoin will plunge soon.
📌 KRW for the Yearly Close
This brings into an important consideration for review the long-term KRW chart, the plan chosen by sellers has been able to lure in late unaware buyers at the highs because of the simple nature of the impulse employed. By trapping the highs and aiming for the negative break in the yearly close, it is a very bearish sign.
The KOSPI has topped as expected and foreign investors are beginning to cash out.
Current fundamentals show that export volume has declined by almost half and a strong KRW is killing competitiveness and denting profits on exporting companies which should translate to drop in stock value.
USDKRW should hit 1140 in short/mid term and come back down to the 1100...
- USDKRW is getting close to reaching the multi decade long support in the 1,100 - 1,090 range
- Price is currently outside the lower Monthly BB band
- Increasing covid cases worldwide, double dip recession in EU, and uncertainty on a smooth transfer of power in the US added to the highest number of Covid cases are brewing the perfect storm for a flight back into USD
USD_KRW RECOVERING FROM FALLOUT
(1) The pair will face resistance confluence
(2) A good pullback trade is expected
(3) Don't miss the moment
LIKE and SUBSCRIBE for VIBEZ
- Value in short term upward trend versus growth
- Cyclical stocks rolling over versus Defensive stocks
- S&P Low Volatility ETFs starting to outperform the S&P 500 on a relative basis
- US Small Caps (IWM) neutral vs US Large Caps (SPY)
- Emerging Market equities neutral vs Developed Market Equities
- Safe-Havens Surging
📌 A short update here for those tracking USDKRW ... It has been a very slippery pig since the last update:
Here buyers stormed into control and chose to occupy the bid protecting 1140 via Covid flows. The relieving of this profit taking has become a bit more enterprising possibly via the...
Pattern: Multi-year Channel Up on 1W since mid 2014.
Signal: If the green trend-lines break, it is a sell signal but suitable to long-term traders only.
Target: First to the 1W MA200 and then the Higher Lows trend-line of the long-term Channel Up as illustrated by the green arrows.
** Please support this idea with your likes and comments, it is the best way...
This chart forms part of a larger research note. None of the information posted here (TV) should be considered financial advice.
On a relative basis, safe-havens have out-performed risk assets for the past week. This is highlighted by the relative chart, using our custom Global Safe-Haven Index (SHIX) versus the S&P500 E-mini Futures (as a wide proxy for risk...