Signal to indicate coming price fluctuations?
Yes, the volume bars on the traders view will be the indicator of incoming volatility to trade the trend.
(the current volume is less than half of what it was last week)
It is too quiet at the moment, makes me kind of nervous lol.
Hopefully for positive reasons and not negative ones mike!
I do agree though, it does feel very quiet at the minute and all very un natural. Something is definitely brewing, if you take tether FUD into account only a week ago and now volume dropped right off.
I think we are going to get some kind of breakout soon, did you know since 1886 the stock markets best months on average have been oct - dec. I’m not willing to bet on history, as if the stock market is flying then in my opinion there is some correlation in how the cryptospace will do over that period too…
Could be wrong, but it’s a educated a guess right now
After Tether ran into banking issues folks panic sold their Tether into
$ BTC and the price launched $1300+. That’s just a little “stable” shitcoin panic exit. Imagine what will happen when an entire fiat system runs into global banking issues large enough to cause a panic exit.
This is nothing in comparison to Mike’s breakdown but he hasn’t put one up in a while so I’m offering an appetizer until he brings the next course of the entree.
Another Bounce Fails as Amazon and Google Disappoint
The volatile and bearish period continues on Wall Street today, as, despite the strong intraday rally, which was fueled by a slew of better-than-expected earnings, the after-hours session saw a sharp reversal, and the major indices are back near their multi-month lows.
Nasdaq 100 Futures, 4-Hour Chart Analysis
The Nasdaq saw the bulk of the action both in regular and after-hours trading, and while Microsoft (MSFT) spearheaded the rally thanks to its great quarterly report, Amazon (AMZN) and Google parent Alphabet (GOOG) dragged the benchmark lower after the bell.
Although both giants beat on earnings, revenues missed the consensus estimates, and the companies guided lower for the next quarter and that triggered a wave of selling across the board. in the past weeks all rally attempts failed, and despite today’s relative stability in Asia and Europe, US stocks couldn’t gather lasting momentum.
EUR/USD, 4-Hour Chart Analysis
The European Central Bank (ECB) held its monetary meeting before the US open, and although President Mario Draghi touched the hot topics of the slowing global economy and the Italian budget, he stressed that the central bank is not planning to extend its asset purchase program, and he repeated the likely pick-up in inflation.
Unicredit (UCG), Daily Chart Analysis
While bulls were hoping for a much more dovish ECB, the Euro failed to bounce durably, even after its recent significant decline, and that points to further troubles ahead for the common currency. Given the situation in the European financial system, the fact that Draghi didn’t address the Italian situation could unleash another wave of risk-off flows.
Yields Turn Choppy amid Mixed Economic Numbers
Treasuries had another big day, as, besides the ECB meeting, both the US Durable Goods report and Pending Home Sales came out. Core durable goods orders missed the consensus estimate, despite the beat in the headline number, but pending home sales beat the consensus estimate, providing a brief relief to homebuilders.
2-year US Treasury Yield, 4-Hour Chart Analysis
Yields first headed back higher thanks to the more-hawkish-than-expected ECB and the rebound in stocks, but in after-hours trading Treasuries rebounded as stocks plunged, and now, the yield curve is close to its recent lows. Tomorrow we will have the advance GDP report coming out, and both the headline number and the price index has the potential to move Treasuries and stocks alike.
The Asian and European sessions might be very choppy as although the broader trends are clearly negative, most of the key markets are oversold, and no major economic releases will be coming out before the US growth data.
Muchas gracias hermano! As a community we will never fail!
Sorry, not been around due to a medical issue.
Will get back to things once I can get back on my feet.
Best wishes to you all.
Hope you get well soon mate
Getting better now, should be back into it soon.
In the mean time is a video I quite liked:
1. MapleChange has returned to social media just days after quickly disappearing after announcing it lost more than $6 million in a hack. The exchange said it has created a Discord server to process refunds. However, MapleChange’s social media accounts said it could not return bitcoin or litecoin, causing anger among users who believe the exchange was not hacked, but instead is trying to steal their money. –CCN
2. Gab, the alt-right social network at the center of the Pittsburgh Synagogue shooting, raised $5.6 million through an ICO in September. The site raised the funds as part of a larger effort to free itself from traditional infrastructure and support mechanisms. Its hosting company, Joyent, and other online service providers such as PayPal have since suspended the site. Gab raised the funding on the ethereum blockchain to remove itself from the grasp of centralized authorities. –FORBES
3. Morgan Stanley called cryptocurrency a new institutional investment class in a recently released report. The bank spent the past six months studying bitcoin and other cryptocurrencies. The report was flattering, defining bitcoin as “digital cash” and nothing that investors had full confidence in it. The report also said bitcoin could be a solution for issues in the currency financial systems, as well as a new payment system. –COINDESK
4. Cryptocurrency investment firm Grayscale has brought in $330 million despite the overall drop in crypto prices. The amount is 13 times more than the company did in the previous year, and the most it has ever raised in its five-year history. “Investors are taking the pullback as an opportunity to increase their exposure,” says Michael Sonnenshein, Grayscale’s managing director. –CNBC
Wired offers a retrospective on bitcoin as the coin celebrates its 10thbirthday. –WIRED
JP Morgan CEO Jamie Dimon says he doesn’t “really give a s**t” about bitcoin. –THE VERGE
Civil, the cryptocurrency that hoped to help journalists, has faltered so far. –THE NEW YORK TIMES
The Wall Street Journal follows a man who sold everything he had for bitcoin. –THE WALL STREET JOURNAL
The New Zealand government invested $330,000 in a crypto savings firm. –NEWS BTC
Researchers have unearthed a cryptocurrency ransomware scheme. –THE NEXT WEB
Bears are Exhausted
1. Scammers continue to create fake Elon Musk accounts on Twitter as part of a scam to steal cryptocurrency. The imposters typically hack into an already verified account, and then copy Musk’s profile page. They then jump into conversations Musk is having online, adding their offer to giveaway cryptocurrency if users send some of their own first. Twitter has struggled to control these accounts, having them appear – at times – as part of sponsored tweets. –BUSINESS INSIDER
2. Blockchain technology could have a dramatic impact on the voting process if ever implemented. The technology behind bitcoin could be used to create a transparent ledger for voting that would be updated in real-time, over the internet, from anywhere in the world. Blockchain could help stop voters from either voting twice, or from outside parties interfering with voting tallies. In the same way blockchain makes bitcoin impossible to counterfeit, the technology could do the same for votes. –FORBES
3. Actress Gwyneth Paltrow published an article on bitcoin investment on her lifestyle site “goop”. The article essentially reads as a Q&A with Abra CEO Bill Barhydt. Abra released a mobile app in 2015 that allows users to buy, sell and store 28 cryptocurrencies. While no one will confuse Paltrow with a cryptocurrency expert, her site has become popular with certain segments of women. –CRYPTO GLOBE
4. Blockchain, the popular cryptocurrency wallet, said it will airdrop $125 million of stellar to its users. It is believed to be the largest cryptocurrency giveaway of its kind. Each user will get about $25 of the cryptocurrency. Stellar is currently the sixth largest cryptocurrency with a market cap of around $5 billion. –FORTUNE
The South Korean bitcoin market has surged alongside the price of bitcoin cash. –DAILY HODL
Bitmain has released two new 7nm Antiminer crypto mining machines. –COIN TELEGRAPH
New research claims that it costs twice the amount of money to mine bitcoin than gold. –THE GUARDIAN
The bitcoin futures market has reached its lowest volatility level on record. –BITCOINIST
Market Watch has a list of 11 outlandish bitcoin predictions, including one that claims bitcoin could hit $1 million. –MARKET WATCH
eToro has released its own cryptocurrency wallet. –COIN TELEGRAPH