Yesterday, the central bank of the United States raised interest rates by 50 basis points. The FED’s chairman reiterated that the monetary policy is not accommodative enough and laid out a path for more increases, with the projection of interest rates above 5% in 2023. Additionally, Jerome Powell stated the FED would not start thinking about cutting rates until...
Bitcoin dropped below the lower bound of the narrow range, bolstering the bearish odds. Simultaneously, volume started to pick up, hinting at increasing selling pressure. In addition to that, the price dropped below 20-day SMA and 50-day SMA; ideally, we would like to see a crossover between these two moving averages, which would further confirm the downtrend. As...
In late October 2022, we stated the bear market was poised to weigh heavily on shares of Tesla. Since then, the price dropped from 207.28$ to a low of 108.24$ (on 28th December 2022), representing almost a 48% decline. After that, the company’s shares briefly rose above 124$. However, with the start of a new year and its first trading day, shares fell more than...
For most of the last year, we held a bearish bias on the U.S. stock market. Starting in 2023, we maintain this stance and expect the market to dive deeper into a recession, dragging the price of SPX much lower from the current level. In fact, before the third quarter 2022 earning season, we outlined that the corporate earnings would reflect the worsening economic...
After beating Bitcoin in 2022, many investors wonder whether 2023 is the time for gold to shine. Last year, central banks accumulated 663 tonnes of physical gold in the first three quarters, making it one of the biggest buying sprees among central bankers (even with no data available for Q4 yet). Overall, the gold market experienced a relatively good year compared...
With the start of a new year, 2023, we would like to wish everyone a successful year ahead. Today, the U.S. stock market is closed due to the observed New Year Day holiday. Therefore, we would like to recap the performance of various assets in 2022. Performance of the major U.S. stock market indices in 2022: 1. Nasdaq Composite Index IXIC = -33% 2. S&P 500 Index...
On 8th August 2022, we introduced a setup with two alternative trades coming after the breakout from the wide range in which XRPUSD oscillated for some time. A few days later, a piece of news concerning a minor win for Ripple Labs Inc. against the SEC sparked a buying frenzy that propelled the price more than 40%. Meanwhile, in the early stage of the rally, we...
In the past few weeks, the sentiment among retail investors turned increasingly irrational, with calls for sky-high prices. Indeed, we encounter a lot of predictions forecasting double or even triple-digit figures for XRP. However, we would like to highlight that these claims are driven merely by hopes, dreams, and emotions. Unfortunately, many of these forecasts...
Since the summer, we have remained relatively bearish on XRP while later warning about the unsustainable rally right at its beginning. Then, as if it was not enough, we also set a medium-term price target of 0.30$ on 8th September 2022, which we updated to a short-term price target on 30th October 2022. This was quickly followed by the token dropping from 0.45$...
In our previous post, we briefly discussed the relationship between the XRP’s price and market cap. Furthermore, we compared their various valuations to the equity market capitalization encompassing 59 400 companies listed on the World of Exchanges. Then, we said that we would like to see the price fail to break above the 50-day SMA in order to support our bearish...
Over the past week, Bitcoin’s volatility diminished significantly. Currently, it trades near 16 800$ and stays within the narrow range. For as long as the price stays within this range, we will remain neutral. However, beyond that, we stay bearish and maintain our price targets of 15 000$ and 13 000$. The setup remains valid with the bearish trigger accompanying a...
The price of Bitcoin faltered shortly after our previous post. Indeed, Bitcoin erased all of its gains and returned to the narrow range before breaking below it. Currently, it trades near the range’s lower bound at 16 800$. As for our stance, we continue to be bearish on BTCUSD and remain skeptical of calls for the market bottom. We believe the bear market has not...
In our previous article, we said that we would like to abstain from setting any price outlook for USOIL after it stopped 0.10$ above our 70$ price target. Unfortunately, that continues to be the case also today, and we do not wish to set any new price targets. However, we would like to update at least some thoughts on the asset. On 8th December 2022, we floated...
Over the past few months, the AMC/APE craze has been underway, with plenty of retail investors spamming various social networks and prompting others to buy the company’s shares. As per the information in tweets, memes, and messages, this retail investors’ uprising aimed to bring down hedge funds, with the central target being Citadel. There were numerous...
Since our previous article on Coinbase, the price of shares has drifted to new lows before staging a rebound. Currently, the price hovers around 35.6$, which is down more than 91% from its all-time high value in 2021. With many structural problems in the cryptocurrency market, we doubt the stock will reverse the primary downtrend anytime soon. Thus, after the...
Despite seven interest rate hikes in 2022, gold is down only about 1% for the year. That shows the strong resilience of gold against a backdrop of the slowing economy, cryptocurrency bear market, and still relatively strong U.S. dollar. In fact, gold has outperformed the Standard & Poor 500 index, Nasdaq 100 index, Dow Jones Industrial Average, and Bitcoin. ...
Over the past few days, many things have been happening in the cryptocurrency market. Binance experienced massive withdrawals of funds, exceeding $3 billion, Bitcoin jumped above 18 000$, and the FED raised interest rates by 50 basis points. However, despite many of these things, we continue to see bullish calls all over the place. We hate to do that, but once...
We want to hint at the opening gap in the Volatility S&P 500 Index (VIX), potentially foreshadowing big moves in the market. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any...