Despite the highest rate hike by the FED since 1994, gold is holding up pretty well so far. It exhibits neutrality at the moment. However, despite that, we remain bullish on it with price targets at 2100 UDS and 2300 USD. Illustration 1.01 The picture shows how BTC started to lose its market dominance. The Celsius Network, run by Alex Mashinsky, paused...
Overnight, we saw a short-lived bounce in the price of Bitcoin to 20 895.08 USD. Within a few hours, BTCUSD gave up most of its early gains and plunged below 19 500 USD, where it currently trades. We continue to be bearish on BTCUSD. Accordingly, we maintain our price targets at 17 500 USD and 15 000 USD. Illustration 1.01 The picture shows an overnight...
We are bearish on the SPX as we expect more weakness in the U.S. economy. Our view is based upon the combination of bearish fundamental and technical factors. Accordingly, we would like to set a new price target for SPX at 3750 USD and 3500 USD. Technical analysis - daily time frame RSI is bearish. Stochastic and MACD are turning bearish. DM+ and DM- are...
Today, Ethereum reached our price target of 1000 USD. We continue to be bearish on ETHUSD. As a result, we would like to set a new price target for ETHUSD at 900 USD and 800 USD. Illustration 1.01 The above is the link to our previous idea on Ethereum. It contains more details about fundamental factors that cause us to remain bearish on the cryptocurrency...
Over the weekend, Ethereum reached our price target and plunged to a new low at 879.80 USD. Similarly to Bitcoin, we are no longer bearish on Ethereum. In all honesty, we are unsure where it is headed next. Although we think the rally might continue a little bit further. Despite that, negative fundamental factors remain in place. The FED is expected to raise...
Shortly after our last idea on Bitcoin, it started to manifest weakness. Accordingly, we remain bearish and maintain our price targets at 17 500 USD and 15 000 USD. That is mainly due to the persistence of bearish fundamental factors. However, technical indicators across weekly and monthly time frames also support our views. Therefore, we think the cryptocurrency...
Just 24 hours ago, we turned again bearish on the Nasdaq 100 index, which was quickly followed by a selloff of more than 3%. We also set price targets for NQ1! at 11 500 USD and 11 000 USD. We maintain those price targets as we remain bearish on the U.S. economy. That is because we think more rate hikes and economic tightening will drag the stock market to new...
Yesterday, we changed our short-term bias back to bearish from neutral/slightly bullish. Additionally, we set new price targets at 17 500 USD and 15 000 USD, representing approximately an 11% and 24% decline from the current price level. Our bearish medium-term and long-term view is based mainly on fundamental factors like higher interest rates and economic...
Bitcoin's bear market rally shows the first signs of weakness and exhaustion. We still pay close attention to 20-day and 50-day SMAs; in the short-term, BTCUSD may attempt to retrace toward these levels (before breaking down and revisiting lows). Accordingly, we remain neutral/slightly bullish in the short-term. However, in the long-term, we remain bearish....
On 21st June 2022, we abandoned our short-term bearish bias on the Nasdaq 100 index. Since then, the index has grown approximately 8%. However, we are again slowly turning bearish on the index as we think the current pricing starts to be attractive for short trade (re)entry. Despite that, we remain cautious and abstain from setting a price target for NQ1!. We will...
After hitting a low near 17 500 USD and reversing back above 21 000 USD, Bitcoin has been trading mostly sideways. So far, it has failed to move above the 22 000 USD price tag, which hints at a loss of momentum within the bear market rally. Despite that, we remain neutral and abstain from setting a price target for BTCUSD. However, we are growing inclined toward...
Today, the Nasdaq 100 index erased its gains from the preceding day, hitting all our previous price targets for NQ1! and QQQ. Therefore, we would like to update our thoughts on the index. We remain bearish due to fundamental factors pointing to a strong recession. However, technical factors also support this pessimistic thesis. Due to that, we would like to set a...
Over the weekend, Ethereum broke below the lower bound of the rectangle pattern and passed right through our price targets towards a new low of 1176.70 USD. Despite ETHUSD going far below our price targets, we still maintain a bearish stance on it. As a result, we would like to set a price target for ETHUSD to 1000 USD. Fundamental factors During the current...
Over the weekend, on Saturday, Bitcoin dropped as low as 17 592.78 USD, missing our price target by 92.78 USD. Then, within 24 hours, Bitcoin erased its losses and dropped below 20 000 USD again. Currently, it trades slightly below the 20 000 USD price tag. At the moment, we are not entirely sure where BTCUSD is headed next; as a result, we would like to abandon...
News outlets report that institutions are selling their assets at a record pace and Bitcoin made a new low at 20 074.50 USD. Nevertheless, we continue to maintain our short-term price target of 20 000 USD. Additionally, we would like to set a medium-term price target at 17 500 USD. Our reasoning is detailed below and in the attached articles. Fundamental factors...
The FED raised interest rates by 75bps yesterday. Despite that, the stock market rose by 3%, providing a temporary lifeline for cryptocurrencies. We view economic tightening and higher interest rates as negative for the U.S. economy and Bitcoin. That is due to the high correlation between these pairs exhibit. Thus, our price targets are 20 000 USD and 17 500 USD....
After the bear market rally, the Nasdaq 100 index made a new low in tandem with our expectations. Currently, the price of the Nasdaq 100 index exhibits rounding on the hourly chart. We will pay close attention to this development and volume levels, especially as it gets closer to the FOMC. Further, we expect the FED to worsen the economic situation, eventually...
With the FOMC only a week away, the volatility index is set to rise again. Our conclusion is based upon the premise that the upcoming rate hike will negatively impact the U.S. economy, which already started to manifest a return of selling pressure. In our opinion, this marks the resumption of the downtrend. We expect the selloff to accelerate in the coming weeks....