FACTS YOU MIGHT NOT LIKE: 1) Bitcoin's "rags to riches" capabilities which made it famous are in the past. 2) Its best performance from valley to peak are objectively in the rear view mirror. 3) Diminishing returns is the name of the game. #Bitcoin #DiminishingReturns #Crypto
BTC is destined for higher highs, but not quite yet. In the next week or so, BTC could surpass the 100k level. I anticipate there will be significant selling pressure in this zone, as many long term holders cash in on their long term investment. The market will need to cool off. I would watch the 99.6k level closely, as we may see a SFP and drop to the 80-86k support zone. After some weeks of sideways movement, I expect a significant movement to the upside coinciding with Trump's inauguration. NOTE ON ALTCOINS While BTC is in the 80-86k support zone, alt coins will experience a 20-30% correction, presenting an excellent buying opportunity for many alt coins (e.g., ADA, DOT, HBAR, NEAR, PRIME). By mid-late January, alt season will pick up speed, with ETH leading the charge and many alt coins reaching new highs. Happy trading, melonfarmer
ALGOUSDT (Algorand) Daily timeframe range. its working like absolute beast here. with this volume outperforming many alts out there. pin point close to break 0.4562. a clean close above can push it to 0.6156 and beyond. recent support at 0.3328.
This is an addition to the ongoing macro trade idea from the spring phase low. This whole structure here, looks to me like one long wyckoff accumulation campaign and Adam / Eve double bottom. This is your sign of strength, and the expectation is to return to the range high, and likely see a partial decline or consolidation once achieved. If i am correct here, we could expect eventual targets at the 100% measured move of the range, confluent with both the 1.618 extension of the spring correction, and a 4.236 of wave 1 coming up. This is a weekly chart, this will take time and itll probably be a difficult hold, but if it continues to play out in this fashion, that will be my expectation until proven otherwise.
EUR/USD Gains 1.55% This Week Amid Weak US Data The EUR/USD pair strengthened by approximately 1.55% this week, driven by better-than-expected data from the eurozone and disappointing economic reports from the US. Despite this recovery, the long-term outlook remains uncertain, especially as the economic divergence between the two regions continues to weigh on market sentiment. US Data Falls Short of Expectations A series of weaker-than-expected US economic indicators pressured the dollar this week: - **Chicago Fed National Activity Index (Oct):** Fell to -0.40, below the expected -0.2. - **Dallas Fed Manufacturing Index (Nov):** Came in at -2.7, worse than the forecast of -2.4. - **New Home Sales (Oct):** Declined to 0.61M, significantly missing expectations of 0.73M. - **Richmond Fed Manufacturing Index (Nov):** Plunged to -14, below the forecast of -10. - **Durable Goods Orders (Oct):** Increased by just 0.2%, underperforming the 0.5% forecast. - **Initial Jobless Claims (Nov 23):** Reported at 213K, slightly better than expected (216K), but still pointing to a resilient labor market. - **Chicago PMI (Nov):** Dropped to 40.2, well below the anticipated 44, highlighting weakness in manufacturing. These data points fueled concerns about slower economic activity in the US, prompting a sell-off in the dollar and supporting EUR/USD gains. Eurozone Data Provides Modest Support The eurozone provided some relief for EUR/USD with slightly better-than-expected results: - **Economic Sentiment (Nov):** Rose to 95.8, exceeding the forecast of 95.1, signaling marginal improvement in business and consumer confidence. While the euro benefitted from these figures, the broader macroeconomic picture in the eurozone remains weak. Comparative Economic Outlook The US economy continues to outshine the eurozone across several key metrics: | Metric | US | Eurozone | |-----------------------|----------------------|---------------------| | **GDP Growth Rate** | 2.70% | 0.90% | | **Unemployment Rate** | 4.10% | 6.30% | | **Inflation Rate** | 2.60% | 2.30% | | **Interest Rate** | 4.75% | 3.40% | | **Manufacturing PMI** | 56.00 | 45.20 | | **Services PMI** | 57.00 | 49.20 | While the eurozone showed some resilience this week, its lower growth rate, higher unemployment, and weaker PMIs highlight the underlying economic challenges. Outlook for EUR/USD Despite this week’s gains, the outlook for EUR/USD remains bearish in the long term. If eurozone economic data continues to underperform, the European Central Bank (ECB) may face pressure to implement faster and deeper rate cuts. Conversely, the US appears to be on a stable path toward a "soft landing," supported by strong labor markets and robust economic growth. Conclusion While EUR/USD benefitted from weaker US data this week, the pair's long-term direction depends on the relative strength of economic fundamentals between the eurozone and the US. The euro remains vulnerable, especially if eurozone data disappoints further and the ECB accelerates its monetary easing. Will EUR/USD sustain its gains, or is a reversal imminent? Share your thoughts in the comments!
EOSUSDT (EOS) is about to become one of the top performers in the entire market. This project is entering a major growth phase. — Technical Analysis EOS has been green for weeks, moving straight up. The last two weeks produced really high volume. The highest volume since October 2023. A break and close above EMA55 weekly confirms long-term potential. This indicates that EOSUSDT is set to grow for months. It can grow for many months, maybe an entire year until November 2025 or August 2025. It can also happen that it grows for two or three years straight but it is too early to say this. Looking closer, the next target and likely the first major resistance level on this chart sits around 1.3532. This is followed by 1.9500. When a retrace happens and depending when it happens, support will be found mainly around 0.7644 and 0.9895. A small retrace and then additional growth. Then it will keep on growing and growing and growing... It is not too late, but it is already moving. It has been moving up an entire month. Namaste.
New update: The market has resumed its upward trend, and the $0.50 target is very close—likely to be achieved within the next two days. I also expect a slight pullback at $0.50 before continuing the rise to $0.55 in the near term! This is not financial advice. Please do your own research too. Good luck!
KAVA has had over 1000 days of consolidation. It has broken out of that trend on the 5th of November (Thak you Trump). A simple Trend Based Fib Extension shows the potential for a 10x to the upper $5 range. Many major players in the crypto ecosystem use Kava, including: Ripple: A Kava ecosystem partner Cosmos: A Kava ecosystem partner and project that supports Kava Arrington Capital: A hedge fund that supports Kava Simplex: A company that partnered with Kava to provide a fiat-to-DeFi gateway for Kava users Not financial advice
Hello, AUDJPY has experienced significant rejection and is likely to continue its decline, aiming to test the 1-year pivot point and support levels. Sellers are currently in control of the market. No Nonsense. Just Really Good Market Insights. Leave a Boost TradeWithTheTrend3344
I made this analysis over a year ago. I think we're just right there in time.