3 things that are clear to me at least from weekly technical perspective
MACD is still wildly overbought.
0.5 fib sits nicely on a support.
0.616 fib sits too nicely on a support.
There is a very high likelihood we are heading down to at least 0.10 within 3 months.
Apart from these, many have lost their trust with CDC, largely due to their poor and sudden...
This is a follow up from my previous idea. I am definitely bullish on precious metals, but Gold has to calm down before it reaches newer highs. The Gold rally has hit the brakes in recent weeks and making some nice moves to where I think it will bounce on the 0.5 fib. Stay safe and happy speculating.
There is definitely risk of falling to the $0.70 region. Anything can happen in crypto, especially in Sep and Oct. I can't ignore a strong divergence and good probability of mean reversion when I see one though.
Crypto exchange Binance is now explicitly positioning its Venus stablecoin project as a government-friendly alternative to Facebook’s Libra, just a month after downplaying any suggestions of rivalry between the two.
Binance’s refined sales pitch for Venus comes on the eve of the exchange’s expansion into the U.S. (Binance US is set to begin taking deposits...
The EU will set up a new college of supervisors, including national and European authorities, to oversee “significant” digital currencies including Facebook’s Libra, according to the European Commission’s cryptocurrency draft proposal seen by EURACTIV.
The long-awaited regulation will address the high volatility of cryptocurrencies including Bitcoin, the most...
Two possibilities: either a U shaped recovery along the current support trendline to the upside, which will eventually test the 20k resistance, or a H&S pattern forming into the downside, to repeat end year 2018 and 2019, into the 6k region. Personally, I would think it's downside for now. The crypto market seriously needs to recover from the overbought state.
Alts took a dive today. This was expected. ICX looks like it could be setting itself up for a running flat to the downside. Unfortunately it seems that the only fundamental thing about crypto is being continuously subject to pumps and dumps. Sometimes I have to think like a whale...
CRO is way overdue for some much needed healthy price consolidation. I don't think it's a coincidence that from a technical POV, CRO is going to run out of space around November, right when:
- CDC haters have all bailed out after the controversial MCO swap
- CRO mainnet is launched
- US elections are happening
Prepare to ride some volatiliy.
Rarely have I come across such beautiful supported legs like the STI we have today. Much more long term upside expected for the Singapore economy, especially profitable for millennial's planning for their future, assuming if they don't fomo into the defi space now.
AUDSGD has staged an incredible recovery since March, and is now facing strong resistance at the psychological 1.00 mark. If you were long since the late 0.80s or early 0.90s as I am, now might be a great spot to take profits.
From the looks of it, it might possibly consolidate over the next few months (which it does seem like it is forming a cup and handle...
Probably one of the best risk to reward trades going into 2021. Singapore's dollar is approaching the upper boundary of its trading band as speculation mounts that the central bank will boost the exchange rate for a second time this year to combat inflation. Expect some volatility soon.
I'm expecting some bearish movement in the next few weeks. The DXY and other USD pairs are consistently oversold, but I'm also not discounting some election news BS to poke weak hands and cause some volatility before this happens.