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While the government and Bank of England have attempted to deal with the rise in prices and creeping inflation, today's figures continue to show that the path forward may be longer than expected. While a slight adjustment in monetary policy may contribute, today’s data showed the highest level in 30 years as the economy is still recovering from the pandemic and could take a significant amount of time to return to normal levels. Ultimately, this situation continues to impact everyday consumers who may see some very noticeable changes to their lifestyle and expenses if the ongoing trend continues. Crypto markets retreat as investors worry about increased regulation and central bank decisions Crypto markets along with other traditional risk assets continue to feel the pressure of incoming fiscal and monetary policy changes from central banks which is due to remove some of the excess liquidity from markets after the unprecedented support received by them, However, crypto is currently dealing a wide variety of negative news and potential increases in regulations which have contributed to the recent pullback across assets as Ethereum continues to hover above the key $3000 psychological level. While fundamental factors may have changed slightly, the second biggest coin is trading at the lowest level in several months and as traders await a catalyst, the situation remains potentially quite volatile. Activision Blizzard acquisition by Microsoft could be a game changer This $68,7 Billion deal could prove to be a turning point for Activision Blizzard, who has seen its share price drop more than 44% in the last year on the back of disappointing results and a number of corporate as well as internal issues. Microsoft announced it will be offering as many Activision Blizzard games as possible within Xbox Game Pass and PC Game Pass, which just reached 25 million subscribers, and might provide the much needed boost in player base. Furthermore, a more direct input in general operations decisions could aim to rectify decisional issues and bring a more united direction for the company moving forward. Investors already reacted to this news favourably with Activision Blizzard stock price gaining over 30% on Tuesday while Sony stock actually fell as shareholders consider the risks associated with this acquisition.  

Yesterday’s Q4 earnings report from Netflix was seen as a major disappointment with forecasts pointing to weaker subscriber growth amid rising competition, particularly when compared to the first part of 2021. While the company referred to increased competition as a major cause of this uncertainty, rising prices of plans may also be deterring some customers who now have access to a wide range of streaming services including Disney+ and HBO Max. The company’s stock dropped around 20% in after hours trading and could be set to begin today's trading in the $400 area - the lowest level since May 2020. Despite there being a general risk-off mood in markets, which has seen many other stocks also retreat, it remains to be seen if Netflix will manage to rebound or if it will continue heading lower. Crypto markets tank as risk-off moods dominate While it may appear that the crypto market has taken a big hit today, with the majority of top 100 coins down by around 10%, it is important to note that the general sentiment across markets is quite negative when relating to risk assets. This is in part due to the increasing prospects of fiscal and monetary policy changes from central banks, in particular the FED, which would remove a significant amount of liquidity from the market and that ultimately could lead to a significant fund reallocation. Furthermore, while we have seen major cryptos like Ethereum and Bitcoin drop below key levels like $3000 and $40,000, and reach the lowest level in several months they are both testing key support areas which previously preceded significant upward moves. While the global situation may be slightly different, it is worth keeping in mind that recent negative performance is not limited to the cryptocurrency market but is being seen across many different types of asset classes, albeit on a somewhat smaller scale. UK Retails sales decline and worry investors The 3,7% decline in retail sales illustrated by today’s report continues to indicate rising prices and economic uncertainty as some of the key reasons for the slowing down of sales. Despite Non-food stores sales falling noticeably in December, food store sales managed to only drop by 1% and retail sales as a whole were able to remain above pre pandemic levels. As the situation grows more uncertain and as inflation continues to be a key factor, it remains unclear whether central banks and governments will decide to take action or if they will wait and see if things improve naturally.

S&P 500 gave up yet again the opening gains – the bear didn‘t pause even for a day or two. Buyers defeated during the first hours, and credit markets are once again leaning the bearish way. Risk-off rules even if long-dated Treasuries rose for a day. Tech investors are selling first, and asking questions later, with consumer discretionaries, financials, and also energy hit. The washout S&P 500 bottom is approaching, and our fresh short profits are growing...Talking profits, after a one-day consolidation in precious metals, time has come to cash in on crude oil gains before the decline questioning $86 – that‘s second outsized gains trade in a row there. Black gold won‘t likely be held down for too long, and the same goes for copper knocking on $4.60 for the third time shortly. Excellent for the bottom line.This is the season of real assets (commodities and precious metals), and of the stock market correction still playing out, and driving open crypto short profits alike. Much to enjoy across the board as my fresh portfolio performance chart (check out my homesite) reached a solid new high yesterday – it‘s one year today since I launched my site. Tremendous journey building on prior own strength – thank you very much!Let‘s move right into the charts (all courtesy of www.stockcharts.com).S&P 500 and Nasdaq OutlookS&P 500 buyers still can‘t get their act together – the momentum remains to the downside until credit markets turn and tech bleeding stops. This can happen as early as Monday or Tuesday – I remain watching closely for signs of a high-confidence setup to perhaps take.Credit MarketsHYG pause didn‘t last long, and the volume keeps being elevated without credible signs of buying interest. What‘s more, the credit market posture is decidedly risk-off.Gold, Silver and MinersGold and silver are likely to pause a little, the miners say – but the propensity to rise is there, even this early in the tightening cycle. I‘m looking for dips to be eagerly bought.Crude OilCrude oil looks like seeing the bullish resolve tested soon, and odds are the dip would be relatively quickly bought. Still, the pace of steep upswings is likely to slow down next, I say so even as I continue being medium-term bullish ($90 is doable).CopperCopper is paring back on the missed opportunity to catch up, and it‘s good the red metal managed to rise even if quite a few other commodities stalled. Waking up alongside silver, finally?Bitcoin and EthereumBitcoin and Ethereum little breather is over, the bears did strike again – and it may not be over yet, really not.SummaryThe opening sentence of yesterday‘s summary proved very true, and even faster that I thought possible - „S&P 500 upswing turned into a dead cat bounce pretty fast, and while we may see another attempt by the bulls, I think it would be rather short-lived. Think lasting a couple of days only.“ With the bears in the driving seat overnight – on the heels of a risk-off turn in the credit markets – we‘re likely to witness today another selling attempt.Another yesterday mentioned conclusion remains true as well - „Commodities and especially precious metals, are well placed to keep reaping the rewards – just as I had written a week ago. For now, it‘s fun to be riding the short side in S&P 500 judiciously... Let the great profits grow elsewhere in the meantime.“ Let‘s just add that cryptos are making us smile today, too.Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

The cryptocurrency fear and greed index was down to 11 on Sunday and slightly up to 13 by early Monday. Crypto market capitalisation lost another 1.1% overnight to $1.61 trillion, the lowest since August. As is often the case with prolonged sell-offs, altcoins are falling with acceleration to the first cryptocurrency, causing BTC's share gains, which already stands at 41.3% against lows of 39.3% in mid-January. Bitcoin's share of 40% seems like a turning point, twice triggering a correction in the crypto market. This level stood like an informal threshold that optimism about altcoins had gone too far. However, the rise in bitcoin's share does little to help its price. We saw the sixth consecutive bearish daily candlestick on Monday morning, and the price rolled back to $35K. The bears may well be able to sell the price down to $32.5K, closing the gap of July and returning the rate to last summer's support area. Alarmingly, the sharp reversal on Friday was not followed by any meaningful bounce. Some observers point out that this is a worrying signal, suggesting further market declines, as we have not seen a final capitulation. Without capitulation, the markets will remain with an overhang of sellers. The price of ether has fallen to $2400, which is less than half of its peak price in November. Events are developing in a bearish scenario, so far broadly repeating what we saw in 2018 in terms of overall sentiment. Long-term buyers can avoid buying at prices above 30k for bitcoin and 2k for ether. We believe long-term investors will look out for purchases in the 20-30k per bitcoin area. Whether these purchases will be at the upper or lower boundary depends, among other things, on the situation in the stock markets. The return of buyers there will support the demand for risk among institutional investors. But as long as we see only steady selling from them, it is too early to talk about buying.

As stocks have trended higher, especially the tech stocks, soared in 2021, we must be reminded that Microsoft is once again one of the top companies in the world by market cap. Apple is number one in the world by market cap, and Microsoft continues to be right behind them. In October of 2021, Microsoft had bypassed Apple as the largest company by market cap globally, but Apple soon passed them once again. Microsoft is not the same old company we had known back when Bill Gates was in charge. They have changed and have created a more diverse brand and product portfolio leading that change. Bill Gates stepped down as CEO in 2000 and officially left his full-time role in Microsoft in 2008. Since then, Microsoft has diversified its portfolio to include many more products, including gaming, cloud services, and making Office more business-friendly. Microsoft under Gates was known for two big things: Microsoft Office and Windows; that was the entire portfolio. Satya Nadella, the current CEO of Microsoft, has revolutionized the software company and has made it a software company with a vision of working with businesses, making gaming a priority, and expanding Azure, its cloud network. How Does Microsoft Make Money? A diverse portfolio of many more products allowed Microsoft to branch out from only MS Office and Windows software and adapt to software technology's future. Microsoft has adapted to the world of sales in its subscription-based software model. They sell their Microsoft Office products to businesses and consumers, creating a pay-as-you-go subscription-based business model. Productivity and Business In 2020, Microsoft Office made a significant amount of their revenue from subscription-based software compared to 0% in 2000. MS Office at one point brought close to half of the revenue in 2000, but Office is not even 25% of the revenue that Microsoft takes in now, having over $35 billion in revenue each year. The new software has been revolutionizing businesses. First, they pay for Microsoft Office, and with that, they get Microsoft OneDrive, Teams, and Dynamics. Teams is just a fancy business video chat software like Zoom Video Communications (ZM), but you can only have Teams with Microsoft business accounts. Dynamics is another software that helps with business computing. It helps with business efficiency and works with customer relationship management or CRM, but it is not one of the top competitors to Salesforce (CRM). However, it has over $3 billion in revenue. Windows continues to be one of the most widely used software globally. That domination is starting to penetrate other parts of their customers giving them opportunities to dominate other businesses. With the subscription-based model, they will continue to bring in significant revenue, earnings, and cash flow. Before the proposed acquisition of Activision Blizzard (ATVI), LinkedIn was Microsoft's largest acquisition. It came in at $26 billion in 2016. Today, LinkedIn makes over $8 billion annually in revenue, up from the $3 billion pre-acquisition. LinkedIn has no major competitors and creates most of its money from job offer advertisements, other advertisements, and cash for LinkedIn premium. The Cloud Cloud software has become a bigger space for companies. It has led Microsoft to enter the space and business opportunities through the Azure Cloud system. Microsoft has thus gained a foothold in the cloud space. Azure Cloud system by Microsoft came out in 2009, and in 2021 the platform had become the second-largest cloud-based service in the world behind Amazon Web Services (AWS). With the cloud service, Microsoft's revenue grew by 48% in quarter 3 of 2021. It has reached a 21% market share and continues to gain more traction in the cloud space.   Azure consists of public, private, and hybrid cloud service products that help to power modern businesses. Dynamics and Azure are contributing to over 31% of Microsoft's revenue. In addition, customers are reaping many benefits through the cloud as it enhances the user experience with Microsoft products. The Gaming Industry Microsoft is becoming one of the leaders in the gaming industry. The Xbox is leading the charge with gaming, and Microsoft just made a deal to acquire Activision Blizzard for $69 Billion; if government regulators approve the sale, this acquisition will occur in 2023. The purchase would make Microsoft one of the largest gaming companies in the world. They would then own games like Call of Duty, War of Warcraft, and Candy Crush. In addition, making the deal would put them behind Sony and China's Tencent as a top-three gaming company globally. Microsoft is putting their company in a position to take on the Metaverse. Apple (APPL), Google (GOOG), Meta (FB), and Microsoft are creating technologies for the Metaverse. Satya Nadalla has emphasized that gaming technologies are part of the Metaverse. Is Microsoft a Good Stock to Buy? If we look at the price-to-earnings (P/E) ratio, we end up with an overvalued stock compared to Apple and Google. The P/E ratio is 32.0X, making it a bit more overvalued than Apple, which is trading at a valuation of 28.5X, as of this writing. They are close in the P/E ratio, but you would like to see the P/E ratio lower as an investor. Microsoft is a dividend growth stock that has raised the dividend for 19 consecutive years. The most recent quarterly dividend increase was $0.62 per share from $0.56 per share. The forward annual payout is now $2.48 per share with a conservative payout ratio of about 27%. The question is whether the hype of Microsoft is worth a buy as this company continues to create a diverse portfolio moving from one business to another. You can see the company dominating competitive markets like gaming and cloud systems. It has also innovated different types of software to help other businesses. Microsoft's future looks excellent if you are an investor, but the stock is likely overvalued based on the P/E ratio. In addition, the dividend yield is low at 0.84%. This value is less than the average dividend yield of the S&P 500 Index. Suppose individual stocks are too risky for you. In that case, an alternative is to try an excellent ETF or even a tech ETF to gain exposure to Microsoft and other overvalued tech companies. In many cases, ETFs are market cap-weighted, and Microsoft is one of the top holdings. You can always own a piece of Microsoft, Apple, Google, and Meta through an excellent ETF like an S&P 500 ETF. Microsoft is also a top 10 holding in some of the best dividend growth ETFs. These index funds will help you own a selection of some of the most profitable and most prominent companies in the US. Author Bio: Dividend Power is a self-taught investor and blogger on dividend growth stocks and financial independence. Some of his writings can be found on Seeking Alpha, TalkMarkets, ValueWalk, The Money Show, Forbes, Yahoo Finance, Entrepreneur, FXMag, and leading financial blogs. He also works as a part-time freelance equity analyst with a leading newsletter on dividend stocks. He was recently in the top 1.5% (126 out of over 8,212) of financial bloggers as tracked by TipRanks (an independent analyst tracking site) for his articles on Seeking Alpha. Disclaimer: Dividend Power is not a licensed or registered investment adviser or broker/dealer. He is not providing you with individual investment advice. Please consult with a licensed investment professional before you invest your money. 

The cryptocurrency market is adding 0.2% in the last 24 hours to $1.63 trillion, experiencing some pause or rebound after a prolonged drawdown. Buyer interest in cryptocurrencies came at the expense of a rebound in US equities, where selloff hunters thought their time had come. The cryptocurrency market capitalisation without Bitcoin became less than 1 trillion last Saturday, and this round level now acts as near-term resistance. At one point on Monday, Bitcoin was down to $33K, but at the late US session, and now trades near $36.4K. Yesterday's drawdown almost closed the gap in July and also came from the lower boundary of the downward channel. The latter indicates that despite the prevalence of bears, the market is not yet ready to accelerate the decline. Bitcoin is gaining 2.8% in 24 hours, but most altcoins are losing ground. So, yesterday's rebound in bitcoin and the positive dynamics of the crypto market are more correctly attributed to technical factors: crypto investors are exiting altcoins to more liquid BTC, forming temporary bounces, but nothing more. The nearest target for BTC downside is $32.3K to close the gap entirely. However, it is worth being prepared to retest the July lows of $29.5-30K. Without support from the stock markets, these levels may not hold for long either. Ether also saw a bounce yesterday towards the end of the day, making it clear that the market is far from surrendering. After seven days of collapse, the primary altcoin managed to close Monday with a tiny gain. Nevertheless, there are no signs of breaking the downtrend yet. Moreover, a death cross is also forming over the ether, as the 50-day moving average is now only a couple of days away from crossing the 200-day from the top down. This signal is often followed by a new bearish attack.

Netflix (NFLX.US) had humble beginnings. The company started as a mail-based DVD rental business in 1997 when DVDs were becoming mainstream in the United States. It operated with such a model until 2007 when its business focus switched to media streaming via the Internet. While Netflix continued to rent DVDs, its new services gained traction. A deal with major film production studios was reached in 2010 and in the same year the company started to expand beyond the United States by beginning to offer its services in Canada. Expansion accelerated from there and the company got involved in movie and series production. Netflix is now one of the world's best-known entertainment companies, offering services in more than 190 countries and having more than 220 million paid subscribers at the end of 2021 End of pandemic - end of growth? As Netflix increased its subscriber base, so has the company's sales and earnings soared. Netflix generated just slightly below $30 billion in annual revenue in 2021. The company's business benefited greatly from the coronavirus pandemic, with revenue increasing 24% in 2020 and 18.8% in 2021. Stay-at-home mandates boosted demand for various types of at-home entertainment products, including streaming services. However, as the pandemic started to be contained and countries no longer imposed as strict restrictions as they used to, Netflix growth started to slow. The company expects a big slowdown in new subscriber growth in Q1 2022, citing increased competition as the prime reason. Streaming business gets more difficult While Netflix warned that growing competition within the streaming industry makes the outlook for further growth in subscriber numbers bleak, it should be noted that it is not the only company in the business to have doubts about the future. Disney also said that maintaining high subscriber growth rates became difficult as the market became saturated following the Covid-19 boom. While some customers subscribe to multiple streaming services at once to get access to exclusive content, not everyone can afford that and has to decide which one to use. This is even more important now as high inflation causes consumers to be more cautious with spending. What's next? As costs are increasing and subscriber growth is faltering, streaming companies face a difficult decision on what to do next to preserve growth of their business. Streaming companies could boost spending on new productions in order to enrich their portfolio and attract new customers. However, they can also target existing but not "official" customers and this seems to be the decision Netflix decided to take by increasing crackdown on illegal account sharing. This is a risky play - barring such customers from Netflix' service could encourage them to start paying fees but it can also discourage them from using the company's services all together and switch to competition. Another approach to boosting sales in times of rising costs and slower subscriber growth could be boosting plan prices, which is also what Netflix has decided to do with prices for its services in the United States and Canada increasing in late-2021. Investors now have to decide if these steps can keep the bottom line growing or if they are just desperate moves to maintain the status quo. The stock is down more than 30% this year so many investors may see this as a bargain. But this will only be the case if the company finds a path to strong growth again.

S&P 500 closed below the 200-day moving average – unheard of. But similarly to the turn in credit markets on Wednesday, the bulls can surprise shortly as the differential between HYG and TLT with LQD is more pronounced now. The field is getting clear, the bulls can move – and shortly would whether or not we see the autumn lows tested next. Now that my target of 4,400 has been reached (the journey to this support has been a more one-sided event than anticipated), 4,300 are next in the bears sight. The bearish voice and appetite is growing, which may call for a little caution in celebrating the downswings next. Relief rally is approaching, even if not immediately and visibly here yet. All I am waiting for, is a convincing turn in the credit markets, which we haven‘t seen yet. The dollar is likely to waver in the medium-term, and that‘s what‘s helping the great and profitable moves in commodities, and reviving precious metals. Crypto short profits are likewise growing – the real question is when the tech slide would stop (getting closer), and how much would financials rebound as well. Not worried about energy – the oil dip would turn out a mere blip. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook S&P 500 buyers are nowhere to be seen, volume isn‘t yet at capitulation levels – rebound off increasingly oversold levels is approaching. Tech melting down faster than value is to be expected – look for consumer staples to do fine too, not just the sectors mentioned above. As written on Friday, the turn in bleeding in credit markets and tech may stop as early as Monday or Tuesday – I remain watching closely for signs of a high-confidence setup to perhaps take. Credit Markets HYG paused for a day while quality debt instruments rose – that‘s still risk-off, but symptomatic of the larger battle and buying interest at these levels already. Could presage a respite in stocks during the regular session next. Gold, Silver and Miners Gold and silver indeed paused a little – in spite of the miners weakness, that‘s no reversal. Most likely only a temporary correction within a developing uptrend. Crude Oil Crude oil bulls are finally getting tested, and by the look of oil stocks, it‘s not going to be a test reaching too far. Not even volume rose on the day – look for price stabilization followed by another upswing. Copper Copper had actually a hidden bullish day – a good consolidation of prior gains. While the volume isn‘t pointing the clearly bearish way, the amplitude of the move can be repeated next. Bitcoin and Ethereum Bitcoin and Ethereum Sunday rally fizzled out, and the downswing doesn‘t look to be yet over as another day of panic across the board is ahead. No signs from cryptos that the slide is stopping now. Summary S&P 500 bulls are readying a surprise – the long string of red days is coming to a pause. Credit markets turning a bit risk-on coupled with a tech pause and financials revival (not to mention consumer staples and energy) would be the recipe to turn the tide. We‘re in a large S&P 500 range, and got quite near its lower band at around 4,300. The short rides are to be wound down shortly, and that will coincide with another commodities run higher. Look to precious metals likewise not to disappoint while cryptos continue struggling at the moment. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

Today’s highly anticipated FED decision could have wide ranging implications across markets as it could alter the current state of economic policy and ultimately favour some markets over others. While there are several scenarios of what’s expected today from the US central bank, the most likely one seems to be a rate increase in March while maintaining QE for the time being , which many investors could see as a slight step back compared to the tone used by the FED recently. On the other hand, if the FOMC decides to surprise investors with a more hawkish than expected approach, it could lead to significant reactions across stock markets and cryptocurrencies even after the recent corrections we have already seen so far. The FED must be very cautious today as it appears to be stuck in a challenging situation, unable to ignore record inflation levels while also having a market that relies heavily on its fiscal policy and any misstep could have greater than expected consequences. Cryptocurrencies attempt to recover ahead of FOMC decision Cryptocurrencies and tech stocks have seen the majority of the volatility and pullbacks from recent uncertainty noticed across a wide range of markets to different extents. However, due to their exceedingly volatile nature, cryptocurrency prices moved significantly with the total market cap falling around $1 Trillion as the majority of top 100 tokens dropped around 20% reaching the lowest level in several months and shaking investor confidence in the sector. On the other hand, we are seeing an attempt to recover today with most tokens trading slightly higher ahead of the FOMC decision as some investors expect the US central bank to back off after seeing the massive reaction it’s recent announcements have had. While it remains to be seen whether the FED will go through with its plan, it is clear that a significant increase in volatility has the potential to scare many investors who may not be interested in projects for the long term and are mainly attempting to speculate on their prices for short term gains. Investors await Tesla earnings report While many investors will be focusing on the FED’s key decision today, earning season has also been a main topic of discussion with several major companies already publishing their reports. We have seen a variety of contrasting results with some exceeding expectations while others disappointed and ultimately reflected that in a significant share price drop. Tesla will be publishing it’s results today and investors will be looking closely to ascertain if the company is living up to the forecasts or if it also appears to be struggling with rising inflation and supply chain issues. A better than expected result could renew investor confidence in the company that has been able to impress many since being listed on the S&P 500 not long ago, while a disappointment could impact future prospects in addition to share price in the short term.  

Glass half full call on S&P 500 yesterday was vindicated – this yet another reversal has the power to go on, and credit markets appear sniffing out the upcoming reprieve. While rates have justifiably risen, they have done so quite fast in Jan – time to calm down and reprice the excessively hawkish Fed fears. Even if it was just energy and financials that rose yesterday, the table is set for gains across many assets – just check the progress from yesterday‘s already optimistic upturn, or the already fine early view of yesterday‘s market internals.VIX is calming down, Fed is unlikely to rock the boat too much – such were my yesterday‘s thoughts about:(…) seeing a rebound on Wednesday‘s FOMC (I‘m leaning towards its message being positively received, and no rate hike now as that‘s apart from the Eastern Europe situation the other fear around).The sizable open profits – whether in S&P 500 or crude oil – can keep on growing while gold slowly approaches $1,870 again (look for a good day today), and copper stabilizes above $4.50 to keep pushing higher even if not yet outperforming other commodities. More dry firepowder and fresh profits ahead anywhere I look – even cryptos are to enjoy the unfolding risk-on upswing.Let‘s move right into the charts (all courtesy of www.stockcharts.com).S&P 500 and Nasdaq OutlookThis is what a tradable S&P 500 bottom looks like – just as it was most likely to turn out. After the 200-day moving average, 4,500 point of control is the next target.Credit MarketsHYG reversed, but isn‘t in an uptrend yet – this is how a budding reversal looks like, especially since the selling hasn‘t picked up ahead of the Fed. Turning already.Gold, Silver and MinersGold and silver pause was barely noticeable – it‘s a great sight of upcoming strength in the metals while miners unfortunately would continue underperforming to a degree, i.e. not leading decisively.Crude OilCrude oil bulls are back, how did you like the pause? The ride higher isn‘t over by a long shot, and I like the volume of late being this much aligned.CopperCopper looks to be catching breath before another (modest but still) upswing. The buyers aren‘t yet rushing headlong.Bitcoin and EthereumBitcoin and Ethereum reversed, and are participating in the risk-on upturn, with Ethereum sending out quite nice short-term signs. From the overall portfolio view and upcoming volatility though, I would prefer to wait before making any move here.SummaryS&P 500 bulls withstood yesterday‘s test, and are well positioned to extend gains, especially on the upcoming well received FOMC statement and soothing press conference. It had also turned out that a tech upswing is more likely to be continued today than yesterday – the Fed‘s words would calm down bonds, and that would enable a better Nasdaq upswing.As I wrote yesterday, the table is set for an upside FOMC surprise – the tantrum coupled with war fears bidding up the dollar, is impossible to miss. Best places to be in remain commodities and precious metals – and I would add today once again in a while that real assets upswing would coincide with the dollar moving lower later today (check those upper knots of late). So far so good in risk-on, inflation trades – and things will get even better as my regular readers know (I can‘t underline how much you can benefit from regularly reading the full analyses as these are about how I arrive at the profitable conclusions presented & how you can twist them to your own purposes).Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

Binance Coin has been range trading for the past four days between $335 and $389. BNB price shows bulls pushing bears against the high of this week, ready for a breakout. Expect bears to be stopped out and open momentum for bulls to run the price up to $452. Binance Coin (BNB) price was able to find a floor at $335 with the monthly S2 monthly support level as an area where bulls were interested in getting involved in the price action. BNB price is now quickly ramping up and squeezing bears out of their entries at $389, which is acting as the weekly high. With the squeeze, a pop is set to unfold towards $452, the first significant level of resistance that could halt the rally near-term. BNB price set for a bullish breakout Binance Coin sees bulls trading away from the monthly S2 support level at $335 tested twice and bulls jumping on the buying volume to get involved in the price action. Backed by the green ascending trendline, a bullish entry makes sense as the Relative Strength Index (RSI) has just exited oversold territory. As such, sellers do not have much incentive to stay further in their short positions as further gains look limited for now. BNB price thus offers a solid entry point, and bulls are now ready to break above $389, the weekly high and short-term cap that has kept BNB price limited to the upside this week. As bears are being pushed against that level, expect their stops to be run once bulls break above it, which will trigger a massive demand for buying volume and squeeze price action even higher. The monthly S1 does not hold much historical reference, so $452 makes the most sense with the 200-day Simple Moving Average just above as a cap, that needs to be broken to start speaking of an uptrend. BNB/USD daily chart In the wake of the Fed meeting later today, most investors will be holding their breath further into the afternoon. If the Fed delivers a hawkish tone or even hike today, that will set a negative tone for global markets and see a sharp decline in risk assets led by equities and cryptocurrencies. Expect BNB price action to result in bulls being pushed against the monthly S2 support and the green ascending trend line around $320-$335.

The FOMC set the stage for a March interest rate hike, which was an aggressive signal. Gold got it and fell – but hasn't capitulated yet.The Battlecruiser Hawk is moving full steam ahead! The FOMC issued yesterday (January 26, 2022) its newest statement on monetary policy in which it strengthened its hawkish stance. First of all, the Fed admitted that it would start hiking interest rates “soon”:With inflation well above 2 percent and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate.Previously, the US central bank conditioned its tightening cycle on the situation in the labor market. The relevant part of the statement was as follows in December:With inflation having exceeded 2 percent for some time, the Committee expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee's assessments of maximum employment.The alteration implies that, in the Fed’s view, the US economy has reached maximum employment and is ready to lift the federal funds rate. Indeed, Powell reaffirmed it, saying:There’s quite a bit of room to raise interests without threatening the labor market. This is by so many measures a historically tight labor market — record levels of job openings, quits, wages are moving up at the highest pace they have in decades.Powell also clarified the timing, stating that “the Committee is of the mind to raise the federal funds rate at the March meeting.” This is not completely unexpected, but does mark a significant hawkish change in the Fed’s communication, which is negative for gold.Second, the FOMC reaffirmed its plan, announced in December, to end quantitative easing in early March. It means that in February, the Fed will buy only $20 billion of Treasuries and $10 billion of agency mortgage-backed securities, instead of the $40 and $20 purchased in January:The Committee decided to continue to reduce the monthly pace of its net asset purchases, bringing them to an end in early March. Beginning in February, the Committee will increase its holdings of Treasury securities by at least $20 billion per month and of agency mortgage‑backed securities by at least $10 billion per month.Third, the FOMC is preparing for quantitative tightening. Together with the statement on monetary policy, it published “Principles for Reducing the Size of the Federal Reserve's Balance Sheet”. The Fed hasn’t yet determined the timing and pace of reducing the size of its mammoth balance sheet. However, we know that it will happen after the first hike in interest rates, so probably as soon as May or June. After all, as Powell admitted during his press conference, “the balance sheet is substantially larger than it needs to be (...). There’s a substantial amount of shrinkage in the balance sheet to be done.”Implications for GoldWhat does the recent FOMC statement imply for the gold market? The end of QE, the start of the hiking cycle, and then of QT – all packed within just a few months – is a big hawkish wave that could sink the gold bulls. The Fed hasn’t been so aggressive for years.Of course, maybe it’s just a great bluff, and the Fed will retreat to its traditional dovish stance soon when tightening monetary and financial conditions hit Wall Street and the real economy. However, with CPI inflation above 7%, mounting political pressure, and public outrage at costs of living, the US central bank has no choice but to tighten monetary policy, at least for the time being.It seems that gold got the message. The price of the yellow metal plunged more than $30 yesterday, as the chart below shows. Interestingly, gold started its decline before the statement was published, which may indicate more structural weakness. What is also disturbing is that gold was hit even though the FOMC statement came largely as expected.On the other hand, gold didn’t collapse, but it dropped only by thirty-some dollars, or about 1.6%. Given the importance and hawkishness of the FOMC meeting, it could have been worse. Yes, the hawkish message was expected, and some analysts even forecasted more aggressive actions, but gold clearly didn’t capitulate. Thus, there is hope (and turbulence in the stock market can also help here), although the upcoming weeks may be challenging for gold, which would have to deal with rising bond yields.If you enjoyed today’s free gold report, we invite you to check out our premium services. We provide much more detailed fundamental analyses of the gold market in our monthly Gold Market Overview reports and we provide daily Gold & Silver Trading Alerts with clear buy and sell signals. In order to enjoy our gold analyses in their full scope, we invite you to subscribe today. If you’re not ready to subscribe yet though and are not on our gold mailing list yet, we urge you to sign up. It’s free and if you don’t like it, you can easily unsubscribe. Sign up today!Arkadiusz Sieron, PhDSunshine Profits: Effective Investment through Diligence & Care

The US economy grew at an annualized rate of 6.9% in the last quarter, beating estimates. Inflation eroded another 7% of growth, indicating the Fed's hawkish stance and boosting the dollar. Fast growth in inventories is a sign of easing supply-chain issues, supporting stocks.Finally, some straightforward responses – the dollar and US stocks rise together in response to strong US data. Good news for the economy is also positive for traders, who now have an easier path to trade. The safe-haven dollar trade is gone, or at least suspended.Gross Domestic Product figures help shape this new correlation, but it builds on top of the Federal Reserve's decision. Starting from the data release, Washington reported an annualized growth rate of 6.9%, far above 5.5% expected, and an encouraging figure in absolute terms. That came despite higher inflation, 7% annualized in the fourth quarter. In nominal terms, the economy expanded at a whopping rate of 14.3%, or 10% for the entire year – far above 5.7% in real terms. Fast growth and strong inflation justify the Fed's decision to tighten its policy, kicking off with a rate hike in March – one of many. It also vindicates the words from Chair Jerome Powell, who said that the labor market can handle higher borrowing costs. The strong economic figures point to employment growth.While tighter policy supports the dollar, shouldn't stocks suffer? Apart from the easy explanation – economic growth means higher company profits – one detail in the report also provides hope. Inventories added no fewer than 4.9 percentage points to GDP growth. What does inventory data mean? In normal times, when companies replenish inventories during one quarter, they tend to deplete them in the next one. However, these are times when supply-chain issues dog the US and global economies. This leap in inventories is a sign that supplies are moving along. When there is merchandise in storage, it is easier to fulfill consumer demand. Moreover, it should help ease inflationary pressures as well. That is a win for stocks.At the moment, price increases remain rapid and the labor market is tight – meaning higher rates and a stronger dollar. This tandem increase in the dollar and stocks is set to continue, assuming no geopolitical shock.

S&P 500 upswing attempt rejected, again – and credit markets didn‘t pause, with the dollar rush being truly ominous. Sign of both the Fed being taken seriously, and of being afraid (positioned for) the adverse tightening consequences. Bonds are bleeding, the yield curve flattening, and VIX having trouble declining. As stated yesterday: (...) It‘s nice to start counting with 5 rate hikes this year when taper hasn‘t truly progressed much since it was announced last year. The accelerated taper would though happen, and the following questions are as to hikes‘ number and frequency. I‘m not looking the current perceived hawkishness to be able to go all the way, and I question Mar 50bp rate hike fears. Not that it would even make a dent in inflation. Not even the shock and awe 50bp hike in Mar would make a dent as crude oil prices virtually guarantee inflation persistence beyond 2022. The red hot Treasury and dollar markets are major headwinds as the S&P 500 is cooling off (in a very volatile way) for a major move. As we keep chopping between 4,330s and 4,270s, the bulls haven‘t been yet overpowered. I keep looking to bonds and USD for direction across all markets. I also wrote yesterday: (...) All that‘s needed, is for bonds to turn up, acknowledging a too hawkish interpretation of yesterday‘s FOMC – key factor that sent metals down and dollar up. While rates would continue rising, as the Fed overplays its tightening hand, we would see them retreat again – now with 1.85% in the 10-year Treasury, we would overshoot very well above 2% only to close the year in its (2%) vicinity. That just illustrates how much tolerance for rate hikes both the real economy and the markets have, and the degree to which the Fed can accomplish its overly ambitious yet behind the curve plans. Still time to be betting on commodities and precious metals in the coming stagflation. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook Another setback with reversal of prior gains - S&P 500 is chopping in preparation for the upcoming move. Concerningly, the bears are overpowering the bulls on a daily basis increasingly more while Bollinger Bands cool down to accommodate the next move. Direction will be decided in bonds. Credit Markets HYG keeps collapsing but the volume is drying up, which means we could see a reprieve – happening though at lower levels than earlier this week. Quality debt instruments are pausing already, indicatively. Gold, Silver and Miners Gold and silver declined as yields moved sharply up and so did the dollar – but inflation or inflation expectations didn‘t really budge, and TLT looks ready to pause. The metals keep chopping sideways in the early tightening phase, which is actually quite a feat. Crude Oil Crude oil isn‘t broken by the Fed, and its upswing looks ready to go on unimpeded, and that has implications for inflation ahead. Persistent breed, let me tell you. Copper Copper is in danger of losing some breath – the GDP growth downgrades aren‘t helping. The red metal though remains range bound, patiently waiting to break out. Will take time. Bitcoin and Ethereum Bitcoin and Ethereum are pointing lower again, losing altitude – not yet a buying proposition. Summary S&P 500 bulls wasted another opportunity to come back – the FOMC consequences keep biting as fears of a hawkish Fed are growing. Tech still can‘t get its act together, and neither can bonds – these are the decisive factors for equities. As liquidity is getting scarce while the Fed hadn‘t really moved yet, risk-on assets are under pressure thanks to frontrunning the Fed. The room for a surprising rebound in stocks is however still there, given how well the 4,270s are holding in spite of the HYG plunge. And given the recent quality debt instruments pause, it looks approaching. Look for a dollar decline next to confirm the upcoming risk-on upswing. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

Photo Credit: Paul Kagame || Hail Emperor Xi, the greatest since Qin Shi Huang! Ready for a cold winter? Much of the world is not. Many places have discouraged using hydrocarbons to produce power, ostensibly for environmental goals, whether those are valid or not. Whether by the fiat of the Chinese Communist Party, or because some Eurocrats push a green agenda, many people are facing a winter where power/heat may be limited. And even if there may not be absolute shortages everywhere, higher prices for all forms of energy, will pinch the budgets of many in the lower middle class and below this winter in the Northern Hemisphere. Part of this stems from central planning. China is the easiest example. Xi Jinping has arrogated to himself more and more power over time, changing the dynamics of the Communist Party, which once at least had some factions, to a unitary party that has only one leader, Emperor President Xi. Some of it came about by eliminating corrupt rivals, but the rest from instilling fear within the Party. Almost every evening, my wife and I read the Bible together. Recently we have been going through the post-exilic portions of the Old Testament where the Jews live under the rule of the Babylonian and Medo-Persian Empires. Those rulers were typically absolute monarchs: do what I say or die! In going through Esther, my wife commented that it was stupid to have laws that cannot be altered. (The same thing is stated in the Book of Daniel.) My comment back to her was if you were an absolute monarch in that era, you were God walking on earth, and could never be wrong. Thus no decree of an Emperor could be wrong. And so it is for President Xi: everything he says is right. He may be an atheist, but to the Chinese in Red China, he is “God walking on Earth” in at least the Hegelian sense. As such, he makes a decree, and those serving him are scared to do anything more or less than he wants. But with vague directives, what does he want? Unilateral authority is particularly vulnerable to making mistakes. In the intermediate-term, China is likely to get weaker because of the increasing concentration of power of President Xi. That’s not to say that capitalist democracies can’t run off the rails, but typically with enough dissenting voices, the worst outcomes don’t usually take place. There are exceptions though. The first exception is regulators with too much discretionary authority. By pursuing one limited goal in the short-run, such as long-term environmental objectives, they may harm the interests of ordinary people in developed markets by making it hard to get food, fuel/energy, and other necessities. And applying the same rules in foreign policy, they may well condemn the developing world to permanent poverty. The developing world thinks the developed world doesn’t care. They are right, and they will ignore what their current leaders have promised in order to curry temporary favor with the developed world. Now where there is the ability to self-correct, eventually societies will remove regulators, politicians, etc. That said, some things are more entrenched than others. I speak of the cult of stimulus. What is more untouchable than the central banks? It’s hard to think of anything more unaccountable. They may technically be beholden to the local parliament, but practically, no one ever messes with them aside from despots pursuing hyperinflation (Venezuela, Turkey, Lebanon, etc.). What gores me is that the unaccountable central banks never ‘fess up to errors. Listen to this: “Asset prices remain vulnerable to significant declines should investor risk sentiment deteriorate, progress on containing the virus disappoint, or the economic recovery stall,” the Fed said in its twice-yearly Financial Stability Report released Monday.Fed Warns of Peril in Run-Up of Risky Asset Prices, Stablecoins That serial blower of bubbles, the Fed, warns us about the height of risky asset prices. Fed policy works via encouraging economic actors to borrow less or more. They have been running a more aggressive monetary policy than they ever needed to, and in the process have inflated housing prices, stocks, bonds of all sorts, private equity, etc. This is not just true of the Fed in the US, but in most developed country central banks. This was an unforced error. Monetary policy could have been tightened in mid-2020, and I mean raising the Fed funds rate, not just stopping QE. When the equity markets race to new highs so rapidly, why should any stimulus exist at all? We don’t need stimulus from Congress either. When demand is so strong that supply chains creak, buckle, and seize up, it is not time to stimulate more, rather, it is time to balance the budget. I would like to think that supply-chain troubles, inflation, and growth are all transitory. But if in an effort to force growth higher than it should be in the short-run, the growth will still be transitory, but the supply-chain troubles and inflation will persist. Beware the experts that say they run things for your good; they likely don’t know what they are doing. ============= Ending note: one more thing, beware the inflation numbers, particularly on items in short supply. If the economists reduce the weights on those things in short supply, it will artificially understate inflation.

Photo Credit: eflon || All in all, you’re just another brick in the wall… In some ways, the Federal Reserve is the whipping boy of Congress. Congress can’t decide on anything significant, so the Fed fills in the blanks, and keeps things moving, even if it creates humongous asset bubbles in the process. That is what we are facing today. Overvalued stocks, housing, corporate bonds, private equity, and more. Inflation in goods and services may be transitory, but asset inflation is a constant. Whether by QE or rate policy, the Fed tries to end the possibility of recessions by making financing cheap, and blowing asset bubbles in the process. What of the future? The Fed will be dragged kicking and screaming to tightening. It will follow the stupid Alan Greenspan highway of 25 basis points per meeting. It will be all too predictable, which has little to no impact until it is too late, creating pro-cyclical economic policy, something the Fed specializes in. The Fed will be surprised (again) to see that the long end of the yield curve does not respond to their efforts. Are they stupid? Yes. the yield curve hasn’t worked in the classical way for over 20 years. In an overindebted economy, long rates are sluggish. Can the Fed abandon the dead orthodoxy of neoclassical economics to embrace the reality of overindebted economics? I doubt it. I asked two Fed governors three years ago when the Fed would abandon the failed Neoclassical economics. They looked like dead sheep for a moment, before they gave some lame defenses of the theory that can’t account for financial markets or marketing. What I expect is that the Fed will tighten the Fed funds rate to 1.5% or so, the long end sinking, and then something blows up, and they return to the prior policy of 0% rates, and QE… failed policies that inflate asset bubbles and increase inequality. We’re in a “doom loop” where there is no way to purge this system of its errors. We would be better off under a gold standard, with stricter regulation of banks. Would we have a recession? Yes, but eventually the economy would grow again organically, without the pollution of stimulus. That said, the Federal Reserve is not the main problem. The main problem is American culture that will not tolerate severe recessions. We need recessions to liquidate bad debts that hinder the economy from growing rapidly in the future. We need to accept the boom-bust cycle, and not look to the government or central bank to moderate matters. Bank regulation is another matter, as loose regulation of banks led to extreme booms and busts, particularly between 1870-1913, and 2004-2008. Conclusion The Fed will tighten and fail, returning us to the same morass that we are in now. Financial repression via the Fed will continue to create inequality with no smoking gun. Stupid people will finger other causes, when the real cause is the Federal Reserve. We need to eliminate the Federal Reserve, and cause Congress and the Executive Branch to take responsibility for their failed policies. PS — there could be a currency panic, but I doubt it. Too many countries want to export to the US.

Apple stock surges after a strong earnings release. AAPL popped 2% on the numbers, and this move has continued. Apple could turn the entire market sentiment around. Apple (AAPL) dropped earnings after the close last night, and they amounted to a blow out. There had been some talk of record numbers and iPhone sales prior to the release, but this set of earnings surprised even the most bullish previews. The stock immediately popped 2% and stabilized but has since added another 2% to its after-market gains and is currently at $165.79 in Friday's premarket. This marks a 4% gain on the regular session close from Thursday. This big question is whether Apple (AAPL) can turn the entire market sentiment around. It is after all the biggest company in the world with the highest weighting in the main S&P 500 and NASDAQ indices. It certainly has the potential to call a bottom to this miserable start to 2022. Apple Stock News Earnings per share (EPS) came in at $2.10 versus the average estimate of $1.88. Revenue also beat estimates, hitting $123.9 billion versus $118.28 billion. The closely watched iPhone revenue number hit $71.63 billion and represents just under 58% of Apple's total revenue. Gross margins increased from 39.8% to 43.8% yearly. On the conference call post earnings, CEO Tim Cook said he sees this margin remaining strong in Q2 2022 to 43% at the midpoint of projections. However, the March quarter is traditionally the slowest of the year earnings wise due to the post-holiday season lull in sales activity. CFO Luca Maestri addressed the key question of supply chain issues, saying chip issues are only a problem for mostly older models and that problems have eased. Tim Cook said the supply chain is doing well. Overall, this was exactly what the market needed: blowout earnings with a significant beat. The earnings call offered strong revenue and most importantly positive commentary around the supply chain and semiconductor chip issues. We will likely see multiple analyst upgrades as the day progresses. Apple Stock Forecast This now becomes a key barometer for the broad market. AAPL should stabilize and appreciate further from here based on these results. If this current rally fails and fades, then truly we are entering a correction phase. For now, $157 remains key support. This is the high from September and also the 100-day moving average. Hold here and we can then target $167.63 and then onto record highs. Also note how the Relative Strength Index (RSI) is oversold by traditional metrics at 30 (we prefer to use 20) and how the Moving Average Convergence Divergence (MACD) is also at lows with the histogram at the widest we have seen for some time. All of these are indicators of oversold conditions. Everything looks set up for a turnaround. The only caveat is the overall market sentiment. Apple (AAPL) chart, daily

Bitcoin gained 7.3% over the past week, ending last week near $37,700. Ethereum added 7%, while other leading altcoins in the top 10 showed mixed dynamics: from a decline of 25% over the week (Terra) to a rise of 4.6% (Binance Coin). Terra's collapse is linked to the scandal surrounding the Wonderland DeFi protocol. The total capitalisation of the crypto market, according to CoinGecko, rose 1.7% to $1.79 trillion for the week. The week didn't start encouragingly for bitcoin. The first cryptocurrency updated six-month lows below $33,000, but BTC sharply redeemed the short-term fall amid an equally sharp rebound in US stock indices. The US stock market interrupted last week's decline and rose for the first time after three weeks of decline. Apple's stock price jumped on Friday after a positive quarterly report and on Tim Cook's statements about the great potential of the metaverse. The rise in the stock market also contributed to the rebound in the cryptocurrency market, which again points to the strong correlation of stock and digital assets in recent times. This trend could continue at least until the end of this year. Despite stabilisation, the situation in the crypto market remains very fragile. Bitcoin could end up falling for the third month in a row. The decline in January is over 17%, and the first cryptocurrency has already lost 45% since the highs in November. The US Treasury Department plans to revisit the controversial FinCEN proposal for mandatory verification of bitcoin wallet users in 2022. If adopted, the proposal would require cryptocurrency exchanges to collect personal data from their users.

Solana price keeps hovering above the monthly S2 support. SOL price sees RSI slowly climbing out of the oversold area on the RSI. Expect a pickup in bullish sentiment once Nasdaq confirms risk-on will be the central theme for this week. Solana (SOL) price saw its bullish reversal stop short on Sunday and is now nearing the monthly S2 support level again at $89.28. Although ASIA PAC equity and European indices are firmly in the green, the sentiment has not spilled over to US futures and cryptocurrencies yet. Expect a bounce off the monthly S2 support level and look for a first test at $100 to the upside before continuation this week towards $130.70. Solana bulls are pushing the RSI away from the oversold area Solana price action saw bulls in good shape on Friday and Saturday, erasing a part of the games and trying to reach $100 to the upside. Instead, the sharp uptick stopped on Sunday as cryptocurrencies again looked heavy, with trading starting on Monday. Strangely enough, the most critical Asian indices and European indices are firmly in the green, where US futures are somewhat mixed and relatively flat during the European trading session. Expect for SOL price to stay hovering around this S2 level as the Relative Strength Index (RSI) is still at or in an oversold area, limiting any potential downside for bears. This should help bulls to use this window of opportunity to go long and make a bounce off the S2 level at $89.28. Once US futures kick into gear and take over the sentiment from Europe, expect some bullish uptick again, targeting $100 intraday and $130.70 for this week. SOL/USD daily chart On the downside, a break below the S2 support level would see a dip towards the low from last week, around $82. If European indices give up their gains and turn red, together with US futures firmly in the red, expect to see another wave of selling, with a possible nosedive threat towards $58.84. With that move, the RSI would overshoot firmly into being oversold.

Bitcoin rose 0.6% on Tuesday, ending the day around $38,700. Ethereum added 3.7%, while other leading altcoins in the top 10 are growing: from 0.5% (Binance Coin) to 12.8% (Solana). The total capitalisation of the crypto market, according to CoinGecko, rose 1.5% to $1.86 trillion overnight. Bitcoin hit a week-and-a-half high above $39,000 on Tuesday but then pulled back, offsetting almost all of the gains. The first cryptocurrency was boosted by positive stock indexes and a weakening dollar, but sellers began taking profits on long positions. Over the last eight days, BTC gained almost 20%, recouping more than half of the failure of the second half of January, and buyers decided not to take risks. Ahead is solid psychological resistance at the circular $40,000 level, which supported the first half of January. Technically, Bitcoin has stalled its gains as it approaches the upper boundary of the descending channel. Traders are waiting for new signals about whether the recovery in risk demand will continue or whether the latest rebound will soon be choked off. The result of this struggle will determine whether we will see a break from the downtrend or whether the downtrend will continue again. El Salvador president Nayib Bukele is confident that bitcoin will still show tremendous growth. It's all about the fact that there are 50 million millionaires in the world. If they wanted to buy a coin, there wouldn't be enough for everyone, as the entire bitcoin issue wouldn't exceed 21 million. MicroStrategy added another 660 BTC on the recent market decline. In total, MicroStrategy already has more than 125,000 bitcoins. Russian government officials told Bloomberg that Russians own $214 billion worth of cryptocurrencies. That's about 12% of the total crypto market capitalisation.

Bitcoin edging very slowly higher but I am not convinced this is the start of a bull trend. Ripple seeing consolidation & narrowing ranges but I do not think this is a base building exercise. Same levels apply for today. Ethereum however is seeing a push higher. Update daily at 07:00 GMT Today's Analysis Bitcoin edging very slowly towards strong resistance at the 500 day moving average at 40400/40600. Above here meets 23.6% Fibonacci resistance at 41400/500. Minor support levels for scalpers are at 37900/700 & 36900/800. Further losses target 36200/36000. Ripple held first resistance at 6560/90 last week as predicted & holding 6300 so far this week. A break below the 100 week moving average at 6000/5900 obviously adds pressure for a retest of the low at 5600/5500. I would not bet on this holding on the next test & a break lower is an obvious sell signal. Look for a test of the last big swing low at 5100/5080. Again I doubt this will hold for long & a break below here is a disaster for bulls. Prices could go in to free fall!!! Gains are likely to be limited & I doubt we will beat resistance at 6560/90. A break higher however meets a sell opportunity at 7350/7450. Stop above 7550. A break higher is a nice medium term buy signal. Buy & hold!! Ethereum tests first resistance at 2800/2820 & holding here as I write. Shorts need stops above 2870. A break higher targets 2920, perhaps as far as strong resistance at 3000/3050. Shorts at 2800/2820 target 2660/20, perhaps as far as 2570/50. To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

Meta (FB) shares lost around 20% post-market, which appears to be an overreaction and shows how wary buyers have become of the former growth leaders, the so-called FAANG stocks. The sharp declines of former crowd favourites could result from a reassessment of the medium-term outlook, for example, due to changes in monetary policy. But they could also be the next domino effect in an impending bear market. Netflix shares lost more than 30% in a few days following a disappointing report late last month and fell 50% from their peak in late November before fumbling for support from bargain hunters. PayPal was not technically in the FAANG big league but was punished just as much, losing around 25% intraday yesterday. After Facebook, Snap (-15%) and Twitter (-7%) also took a tangential hit. In our view, these are not isolated corporate stories but manifestations of broader underline currents. And in the coming days, we will have to determine whether we see a change in the bull market leaders or the first signals of a prolonged bearish trend. In a bear market, the weakest stars are the first to fall, and then the vortex of decline attracts more and more strong participants. The first domino is meme stocks, which had fallen methodically since June when the first signals emerged that the Fed was starting to prepare the markets for a wind-down. Then we saw a peak in many high-tech stocks in November when the Fed started cutting back on buying. By this logic, the downward spiral could pull more strong stocks into a downward spiral by the time interest rates rise, which is expected in March. Looking more broadly at the Nasdaq100 index, there is a rather worrying tech analysis picture. It is once again below its 200-day moving average. The high-tech-filled Meta retreated 2.4% after the report. The S&P500 and DJIA, however, look noticeably stronger on the technical analysis side. But it is worth watching closely how the trading will go this week and whether the buyers will reverse the negative trend of the former Nasdaq favourites. If so, we see a change in the leaders in the form of a rotation in value stocks and other names affected by the pandemic. But fears that the Fed is preparing to take money out of the financial system could force market players to take money off the table by selling blue chips.

Bitcoin we wrote: edging very slowly higher but I am not convinced this is the start of a bull trend. Yesterday we reversed from the trend line - see the video. Outlook remains negative in the bear trend. Ripple seeing consolidation & narrowing ranges but I do not think this is a base building exercise. Same levels apply for today. Ethereum however is seeing a push higher. Update daily at 07:00 GMT Today's Analysis Bitcoin 3 month trend line around 39000 held the bounce - although I had thought we could make it as far as strong resistance at the 500 day moving average at 40400/40600. Above here meets 23.6% Fibonacci resistance at 41400/500. We have reversed to 36900/800. Further losses target 36200/36000 then 34300/34000 before a retest of 33000/32950. Ripple held first resistance at 6560/90 last week as predicted & holding 6300 so far this week. A break below the 100 week moving average at 6000/5900 (tested as I write this morning) obviously adds pressure for a retest of the low at 5600/5500. I would not bet on this holding on the next test & a break lower is an obvious sell signal. Look for a test of the last big swing low at 5100/5080. Again I doubt this will hold for long & a break below here is a disaster for bulls. Prices could go in to free fall!!! Gains are likely to be limited & I doubt we will beat resistance at 6560/90. A break higher however meets a sell opportunity at 7350/7450. Stop above 7550. A break higher is a nice medium term buy signal. Buy & hold!! Ethereum shorts at first resistance at 2800/2820 worked perfectly as we target 2660/20, perhaps as far as 2570/50 today. Further losses are certainly possible eventually to 2520/00 & 2400/2380. On a bounce & retest of resistance, shorts at 2800/2820 need stops above 2870. A break higher targets 2920, perhaps as far as strong resistance at 3000/3050. To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

Ethereum price made a false break below a short-term trend line yesterday.ETH price breaks above $2,695 and is set for a run towards $3,018.This would mean 13% gains for ETH and a more favourable outlook for next week.Ethereum (ETH) price is set to book the best gains it has made for the whole of 2022, as a bullish candle has now formed on the back of a significant support level. With that move, many bears are getting hurt as they probably fell in the bear trap with the false break below the supportive short-term trend line. Expect more upside to come with global markets enjoying the rally in Amazon shares, which is spilling over into cryptocurrencies and lifting sentiment in ETH towards $3,018.ETH bulls are stabbing bears in the back with a trapEthereum price was dangling below a short-term trend line and looked quite heavy after the slippage (https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-crypto-sentiments-rolls-over-as-meta-shakes-nasdaq-202202031412) from META earnings. But that markets can change their minds overnight is proven yet again, after Amazon’s earnings fueled a booster rally which we are seeing today. This has spilled over into cryptocurrencies and is lifting sentiment in ETH prices with a firm break above $2,695, squeezing out bears in the process, who went short on the false break of the trend line, and it is now just a matter of time before they close out and take their losses.ETH price is thus set for a second rally today as those bears will need to revert to the buy-side volume (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-pushes-higher-eth-targeting-3-500-202202021800) to close and cut their losses. This will add a boost to ETH prices and could see Ethereum bulls hitting the price target at $3,018, taking out the $3,000 level, and setting the stage for next week. With that move, the red descending trend line could be broken, and with that, the downturn since December, finally (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-pushes-higher-eth-targeting-3-500-202202021800) breaking the chances for bears and setting the stage for a possible longer-term uptrend.ETH/USD daily chartNevertheless, there are still some earnings on the docket for today that could surprise to the downside and see those tailwinds (https://www.fxstreet.com/cryptocurrencies/news/top-3-price-prediction-bitcoin-ethereum-ripple-crypto-markets-to-favor-bears-soon-202202020838) as quickly fade as they came. Expect that with that lack of support, ETH price will collapse back to $2,695 and start to weigh further on the bulls. Should that spiral into equities, pushing them firmly in the red, and impacting safe haven flow – expect a dip back towards $2,600.

While everyone is criticizing Russia, it’s easy to follow the US ‘savior’ narrative. However, what if we looked at what’s happening with oil in mind?Disclaimer to today’s article: I’m providing this analysis from a pure energy-focused perspective. I do not claim it represents THE right view, but rather one of those that won’t be as visible in the mainstream. It is interesting to add different views as pieces of the same puzzle. I am looking forward to reading yours in the comments!Picture Source: MemedroidSeveral port facilities in Germany, the Netherlands and Belgium have been the target of cyberattacks, prompting the judicial authorities to investigate the suspicions of extortion of funds at the expense of German operators in the oil sector. Indeed, it would appear that this series of computer hackings that began several days ago primarily concerns oil terminals. This is disrupting deliveries in several major European ports against a backdrop of soaring energy prices.After jumping the day before, thanks to the strengthening of the euro against the US dollar induced by ECB President Lagarde, oil prices continued to rise during the European session on Friday. Consequently, the fall in the greenback came on top of the recovery in demand, the fall in US crude inventories and the disruptions in supply to boost the price of black gold on the climb, the two crude benchmarks evolving above the psychological mark of 90 dollars a barrel, galvanized by solid demand and tensions on the offer coming from (geo-)political risks.Who is Provoking Who?The situation is rather complex on the geopolitical scene, with the US claiming that Russia is planning an invasion in Ukraine, whereas the US under NATO cover sent additional troops to Eastern Europe. The question that may arise here is: who is provoking who? So far, we haven’t seen Russia placing troops in Mexico, on the border with the United States. On the other hand, the Biden administration may encounter difficulties in accepting that the Kremlin can agree to various partnerships with its European neighbors, especially regarding more favorable energy supplies. Instead, it’s in the US interest to weaken those diplomatic relations, potentially leading to additional partnerships that may arise between the EU and Putin.And as we see the US-led narrative getting through the Western mainstream media with more aggressive, suspicious, and tense tones towards Russia, this obviously has the effect of pouring some oil on the Russian-Ukrainian fire. Furthermore, the US needs reasons to demonstrate that NATO is still alive and relevant while a number of countries are now questioning their own participation in the US-led military organisation created in 1949, even going so far as to show some doubts regarding its current motivations.Isolating the Russian BearBy maintaining a hostile tone towards Russia’s intentions, the US is consequently trying to isolate the Russian bear and push their European partners to blindly follow the “official narrative” (as the EU being part of NATO), which could possibly lead to new sanctions on Russia, the latter being able to retaliate by using its energy assets and capacities to deprive the EU of the Russian supplies, which currently on the gas side represent between 30% and 40% of total gas imports for Europe. Then, as a result, the Americans could start exporting more gas into Europe via Liquefied Natural Gas (LNG) shipping – which again could benefit their energy-led commercial balance – the Europeans thus becoming the losing players in this game.As an example, we saw this week that a tanker loaded with LNG from the US will arrive at the LNG terminal in Świnoujście (Poland) at the end of this month, since Poland has LNG import capabilities which could be used to deliver US gas to Ukraine. Apparently, this is the second time (after the first one took place two years ago) that such gas deliveries are made by PGNiG, the Polish state-controlled oil and gas company, in cooperation with ERU (their strategic trading partner on the Ukrainian market).Actually, Ukraine suspended imports of Russian gas at the end of 2015. After relying on Russian gas imports for decades, they currently increasingly depend on imports from Europe. Since Ukraine has no LNG import capabilities, such US gas deliveries have been organized via a pipeline from the Polish terminal (through re-gasified LNG).WTI Crude Oil (CLH22) Futures (March contract, daily chart)Brent Crude Oil (BRJH22) Futures (April contract, daily chart)RBOB Gasoline (RBH22) Futures (March contract, daily chart)Henry Hub Natural Gas (NGG22) Futures (February contract, daily chart)In summary, geopolitics is always complex because it relies on individual economic and strategic interests of countries. The readings also depend on different views, and since there is always a lot of noise, it often helps to take some steps back in order to analyze the global situation from a different angle.Have a nice weekend! And remember to chime in on the conversation.Like what you’ve read? Subscribe for our daily newsletter today, and you'll get 7 days of FREE access to our premium daily Oil Trading Alerts as well as our other Alerts. Sign up for the free newsletter today!Thank you.Sebastien BischeriOil & Gas Trading Strategist* * * * *The information above represents analyses and opinions of Sebastien Bischeri, & Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. At the time of writing, we base our opinions and analyses on facts and data sourced from respective essays and their authors. Although formed on top of careful research and reputably accurate sources, Sebastien Bischeri and his associates cannot guarantee the reported data's accuracy and thoroughness. The opinions published above neither recommend nor offer any securities transaction. Mr. Bischeri is not a Registered Securities Advisor. By reading Sebastien Bischeri’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Sebastien Bischeri, Sunshine Profits' employees, affiliates as well as their family members may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

S&P 500 refused to break below 4,450s, and junk bonds took off the lows as well. The bottom isn‘t in, but I‘m looking for a little reprieve next. The degree to which bonds were sold off vs. stocks, hints that we would have lower to go still, ultimately bottoming around late Feb, perhaps even early Mar. Increasingly more Fed hikes are being priced in, and Friday‘s good non-farm payrolls figure is reinforcing these expectations.Treasuries are telling the story as well – the 10-year yield has been surging lately while the 30-year bond didn‘t move nearly as much. It means a lot of focus on Fed tightening, which is making the recent Amazon and Meta earnings ability to move stocks this much, all the better for the S&P 500 in the short run. The 10-year yield is likely to retrace a part of its prior increase, and that would give stocks some breathing room. At the same time though, I don‘t think that the tech selling is done, that tech is out of the woods now – the current rally is likely to run out of steam over the next 5-10 days, then go sideways to down.As for the immediate plan for Monday‘s session, I think the 4460s would hold on any retest, should we get there at all. The bulls have a very short-term advantage, then as mentioned above, selling would resume, and around May or June we could get the answer as to whether we‘ve been just consolidating or topping out. Before that, we‘re in a quite wide range where current stock market values aren‘t truly reflecting bond market sluggishness.Keeping in mind the key Friday‘s conclusion:(…) Precious metals are holding up relatively well, regardless of the miners‘ weakness. Commodities can go on enjoying their time in the limelight – crude oil is not even momentarily dipping, and copper stands ready to keep probing higher values within its still sideways range. Even cryptos are benefiting from what could almost be described as a daily flight to safety.As I wrote in extensive Monday‘s analysis and repeated since, stiff winds are still ahead in spite of the soothing verbal pause in tightening. As the 467K figure just in beats expectations, the Fed gets its justification to withdraw liquidity any way it pleases.Let‘s move right into the charts (all courtesy of www.stockcharts.com).S&P 500 and Nasdaq OutlookS&P 500 bulls aren‘t yet winning, but have a good chance to suck in those who believe the tech bottom is in – tech bears would get another opportunity in the not too distant future.Credit MarketsHYG paused, and the heavy selling is catching a bid – reprieve is approaching even if Friday‘s highs didn‘t last.Gold, Silver and MinersPrecious metals aren‘t getting anywhere, and are likely to warmly embrace the upcoming pause in higher yields. But that‘s not yet the true fireworks we would get later in 2022, which would come on the Fed‘s abrupt U-turn.Crude OilCrude oil bulls aren‘t even remotely pausing – I wouldn‘t count on pullback towards $88 or lower really. There is still much strength in black gold regardless of the Iran sanctions waiver – triple digit oil I called for months ago, is getting near.CopperCopper is back to the middle of its recent range, and the downside looks fairly well defended. The upside breakout would take time, and precede the precious metals one. Rising commodities are still sending a clear message as to which way the wind is blowing.Bitcoin and EthereumThe crypto break higher attests to the return of strength underway, and it‘s supported by the volume. The buyers have the short-term upper hand.SummaryS&P 500 bulls withstood the prospect of hawkish Fed getting more job market leeway on Friday, and look to be entering the week with a slight advantage. Also the bond markets look nearning the moment of calming down as the longer durations are painting a different picture than the 10-year Treasury. S&P 500 would like that, but the tech rebound would get tested as we likely move lower to welcome Mar. Till then, stocks are likely to drift somewhat higher before the rally runs out of steam over the next 5-10 days. Full game plan with reasoning is introduced in the opening part of today‘s extensive analysis. Cryptos good performance on Friday is as promising as the commodities surge – enjoy the days ahead.Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

Bitcoin price looks overextended as it grapples with the 50-day SMA and the weekly resistance barrier at $42,816. Ethereum price pierces through the bearish breaker and approaches the 50-day SMA at $3,242. Ripple price approaches the $0.757 to $0.807 supply zone that could cut the uptrend short. Bitcoin price has seen tremendous gains over the past three days as it attempts to overcome a massive hurdle. While altcoins like Ethereum and Ripple have corresponded to this bullishness, investors need to exercise caution with fresh investments as a retracement could be around the corner. Bitcoin price faces a decisive moment Bitcoin price has risen 18% over the past four days and is currently hovering below the 50-day Simple Moving Average (SMA) and the weekly resistance barrier confluence at $42,816. If this uptrend is a bull trap, BTC is likely to see rejection followed by a retracement to the immediate support level at $8,481. A breakdown of the said barrier will knock the big crypto down to $34,752. In an extremely bearish case, Bitcoin price could revisit the $30,000 psychological barrier and collect the liquidity resting below it. BTC/USD 1-day chart If BTC produces a daily candlestick close above the breaker’s upper limit at $44,387, however, it will invalidate the bearish thesis. While this development will alleviate the sell-side pressure, it does not mean that Bitcoin price has flipped bullish. A daily candlestick close above $52,000 will produce a higher high and suggest the possible start of an uptrend. Ethereum price slithers close to bearish thesis invalidation Ethereum price has followed the big crypto and pierced the bearish breaker, ranging from $2,789 to $3,167. Any further bullish momentum will push ETH to climb higher and retest the 50-day SMA at $3,242. Assuming BTC retraces, investors can expect Ethereum price to face rejection at $3,242, leading to a 25% pullback to the weekly support level at $2,324. In a highly bearish case, Ethereum price could revisit the $1,730 weekly support level and collect the sell-side liquidity resting below it. ETH/USD 1-day chart Regardless of the bearish outlook, the Ethereum price can invalidate the short-term bearish outlook if it produces a daily candlestick close above the $3,167 resistance zone. A bullish scenario could be kick-started, however, if buyers push ETH to produce a swing high at $3,413. Ethereum price gains momentum to breakout to $3,300 Ripple price faces a blockade Ripple price broke out of its consolidation and rallied 25% from $0.604 to $0.754. This impressive move is currently retesting the weekly resistance barrier at $0.740, which rests below another hurdle that extends from $0.757 to $0.807. Rejection at this multi-resistance zone seems likely considering the situation in which Bitcoin is in, and investors can expect the Ripple price to retrace 16%, returning to the consolidation zone at $0.628. XRP/USD 1-day chart A daily candlestick close above the supply zone’s upper limit at $0.807 will signal a resurgence of buyers and indicate their willingness to move higher. In this case, Ripple price could set up a higher high by rallying 12% to $0.911.    

  Gold’s latest feats increased investors’ appetite. The outlook for the dollar, however, remains healthy. That can only mean one thing. As volatility erupts across the financial markets, gold and silver prices are being pulled in conflicting directions. For example, with the USD Index suffering a short-term decline, the outcome is fundamentally bullish for the precious metals. However, with U.S. Treasury yields rallying, the outcome is fundamentally bearish for gold and silver prices. Then, with panic selling and panic buying confronting the general stock market, the PMs are dealing with those crosscurrents. However, with QE on its deathbed and the Fed poised to raise the Federal Funds Rate in the coming months, the common denominator is rising real interest rates. To explain, the euro’s recent popularity has impacted the USD Index. For context, the EUR/USD accounts for nearly 58% of the dollar basket’s movement. Thus, if real interest rates rise and the U.S. dollar falls, what will happen to the PMs? Well, the reality is that rising real interest rates are bullish for the USD Index, and the euro’s recent ECB-induced rally is far from a surprise. With investors often buying the EUR/USD in anticipation of a hawkish shift from the ECB, another ‘hopeful’ upswing occurred. However, the central bank disappointed investors time and time again in 2021, and the currency pair continued to make new lows. As a result, we expect the downtrend to resume over the medium term.  Supporting our expectations, I wrote the following about financial conditions and the USD Index on Feb. 2: To explain, the blue line above tracks Goldman Sachs' Financial Conditions Index (FCI). For context, the index is calculated as a "weighted average of riskless interest rates, the exchange rate, equity valuations, and credit spreads, with weights that correspond to the direct impact of each variable on GDP." In a nutshell: when interest rates increase alongside credit spreads, it's more expensive to borrow money and financial conditions tighten. To that point, if you analyze the right side of the chart, you can see that the FCI has surpassed its pre-COVID-19 high (January 2020). Moreover, the FCI bottomed in January 2021 and has been seeking higher ground ever since. In the process, it's no coincidence that the PMs have suffered mightily since January 2021. To that point, with the Fed poised to raise interest rates at its March monetary policy meeting, the FCI should continue its ascent. As a result, the PMs' relief rallies should fall flat like in 2021.  Likewise, while the USD Index has come down from its recent high, it's no coincidence that the dollar basket bottomed with the FCI in January 2021 and hit a new high with the FCI in January 2022. Thus, while the recent consolidation may seem troubling, the medium-term fundamentals supporting the greenback remain robust. Furthermore, tighter financial conditions are often a function of rising real interest rates. As mentioned, the USD Index bottomed with the FCI and surged to new highs with the FCI. As a result, the fundamentals support a stronger, not weaker USD Index. As evidence, the U.S. 10-Year real yield, the FCI, and the USD Index have traveled similar paths since January 2020. Please see below: To explain, the green line above tracks the USD Index since January 2020, while the red line above tracks the U.S. 10-Year real yield. While the latter didn’t bottom in January 2021 like the USD Index and the FCI (though it was close), all three surged in late 2021 and hit new highs in 2022. Moreover, the U.S. 10-Year Treasury nominal and real yields hit new 2022 highs on Feb. 4.  In addition, if you compare the two charts, you can see that all three metrics spiked higher when the coronavirus crisis struck in March 2020. As such, the trio often follows in each other’s footsteps. Furthermore, with the Fed likely to raise interest rates at its March monetary policy meeting, this realization supports a higher U.S. 10-Year real yield, and a higher FCI. As a result, the fundamentals underpinning the USD Index remain robust, and short-term sentiment is likely to be responsible for the recent weakness.  Likewise, as the Omicron variant slows U.S. economic activity, the ‘bad news is good news’ camp has renewed hopes for a dovish Fed. However, the latest strain is unlikely to affect the Fed’s reaction function. A case in point: after ADP’s private payrolls declined by 301,000 in January (data released on Feb. 2), concern spread across Wall Street. However, after U.S. nonfarm payrolls (government data) came in at 467,000 versus 150,000 expected on Feb. 4, the U.S. labor market remains extremely healthy.  Please see below: Source: U.S. Bureau of Labor Statistics (BLS) On top of that, the BLS revealed that “the over-the-month employment change for November and December 2021 combined is 709,000 higher than previously reported, while the over-the-month employment change for June and July 2021 combined is 807,000 lower. Overall, the 2021 over-the-year change is 217,000 higher than previously reported.”  Thus, the U.S. added more than 700,000 combined jobs in November and December than previously reported, and the net gain in 2021 was more than 200,000. Please see below: Source: BLS As for wage inflation, the BLS also revealed: “In January, average hourly earnings for all employees on private nonfarm payrolls increased by 23 cents to $31.63. Over the past 12 months, average hourly earnings have increased by 5.7 percent.” As a reminder, while investors speculate on the prospect of a hawkish ECB, the latest release out of Europe shows that wage inflation is much weaker than in the U.S. To explain, I wrote on Feb. 1: Eurozone hourly labor costs rose by 2.5% YoY on Dec. 16 (the latest release). Moreover, the report revealed that “the costs of wages & salaries per hour worked increased by 2.3%, while the non-wage component rose by 3.0% in the third quarter of 2021, compared with the same quarter of the previous year.”  As a result, non-wage labor costs – like insurance, healthcare, unemployment premiums, etc. – did the bulk of the heavy lifting. In contrast, wage and salary inflation are nowhere near the ECB’s danger zone. Please see below: And why is wage inflation so critical? Well, ECB Chief Economist Philip Lane said on Jan. 25: Source: ECB As a result, when the ECB’s Chief Economist tells you that wage inflation needs to hit 3% YoY to be “consistent” with the ECB’s 2% overall annual inflation target, a wage print of 2.3% YoY is far from troublesome. Thus, while euro bulls hope that the ECB will mirror the Fed and perform a hawkish 180, the data suggests otherwise.  In addition, while U.S. nonfarm payrolls materially outperformed on Feb. 4, I noted on Feb. 2 that there are now 4.606 million more job openings in the U.S. than citizens unemployed. Please see below: To explain, the green line above subtracts the number of unemployed U.S. citizens from the number of U.S. job openings. If you analyze the right side of the chart, you can see that the epic collapse has completely reversed and the green line is now at an all-time high. Thus, with more jobs available than people looking for work, the economic environment supports normalization by the Fed. Thus, if we piece the puzzle together, the U.S. labor market remains healthy and U.S. inflation is materially outperforming the Eurozone. As a result, the Fed should stay ahead of the ECB, and the hawkish outperformance supports a weaker EUR/USD and a stronger USD Index. Moreover, the dynamic also supports a higher FCI and a higher U.S. 10-Year real yield. As we’ve seen since January 2021, these fundamental outcomes are extremely unkind to the PMs. Finally, while the Omicron variant has depressed economic sentiment, I noted previously that the disruptions should be short-lived. For example, with Americans’ anxiety about COVID-19 decelerating, renewed economic strength should keep the pressure on the Fed. Please see below: To explain, the light brown line above tracks the net percentage of Americans concerned about COVID-19, while the dark brown line above tracks the change in flight search trends on Kayak. In a nutshell: the more concern over COVID-19 (a high light brown line), the more Americans hunker down and avoid travel (a low dark brown line). However, if you analyze the right side of the chart, you can see that the light brown line has rolled over and the dark brown line has materially risen. Moreover, with the trend poised to persist as the warmer weather arrives, increased mobility should uplift sentiment, support economic growth, and keep the Fed’s rate hike cycle on schedule. The bottom line? The USD Index’s fundamentals remain extremely healthy, and while short-term sentiment has been unkind, rising real yields and a hawkish Fed should remain supportive over the medium term. Moreover, with the PMs often moving inversely to the U.S. dollar, more downside should confront gold, silver, and mining stocks over the next few months. In conclusion, the PMs rallied on Feb. 4, despite the spike in U.S. Treasury yields. However, with so much volatility confronting the general stock market recently, sentiment has pulled the PMs in many directions. However, the important point is that the medium-term thesis remains intact: the USD Index and U.S. Treasury yields should seek higher ground, and the realization is profoundly bearish for the precious metals sector. Thank you for reading our free analysis today. Please note that the above is just a small fraction of today’s all-encompassing Gold & Silver Trading Alert. The latter includes multiple premium details such as the targets for gold and mining stocks that could be reached in the next few weeks. If you’d like to read those premium details, we have good news for you. As soon as you sign up for our free gold newsletter, you’ll get a free 7-day no-obligation trial access to our premium Gold & Silver Trading Alerts. It’s really free – sign up today. Przemyslaw Radomski, CFAFounder, Editor-in-chiefSunshine Profits: Effective Investment through Diligence & Care * * * * * All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses are based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are deemed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

S&P 500 bulls missed the opportunity, but credit markets didn‘t turn down. Yesterday‘s pause is indicative of more chop ahead – the risk-on rally can‘t be declared yet as having run out of steam, no matter the crypto reversal of today. Bonds are in the driver‘s seat, and the dollar is also cautious – unless these move profoundly either way, the yesterday described S&P 500 reprieve can still play out even if: (…) The bottom isn‘t in, but I‘m looking for a little reprieve next. The degree to which bonds were sold off vs. stocks, hints that we would have lower to go still, ultimately bottoming around late Feb, perhaps even early Mar. Increasingly more Fed hikes are being priced in, and Friday‘s good non-farm payrolls figure is reinforcing these expectations. As for the immediate plan for Monday‘s session, I think the 4460s would hold on any retest, should we get there at all. The bulls have a very short-term advantage, then as mentioned above, selling would resume, and around May or June we could get the answer as to whether we‘ve been just consolidating or topping out. The 4,460s are still holding while commodities look to be consolidating today. As the dollar is up somewhat, bonds would have to face opening headwinds – the effect upon tech would be telling. I‘m still looking for downswing rejection in stocks while precious metals would hold up better than commodities today. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook As stated yesterday, S&P 500 bulls aren‘t yet winning, but have a good chance to suck in those who believe the tech bottom is in – tech bears would get another opportunity in the not too distant future. Credit Markets HYG gave up the opening strength, and the bulls are likely to get under pressure soon – it‘s that yesterday‘s session lacked volume, thus interest of the buyers. The clock is ticking. Gold, Silver and Miners Precious metals keep refusing to make lower lows – that‘s the most important aspect of their tempered ascent. And price gains would accelerate later in 2022, which would come on the Fed‘s abrupt U-turn. Crude Oil Now, crude oil bulls did pause, but the dip isn‘t likely to reach too far – I still wouldn‘t count on pullback towards $88 or lower really – oil stocks would have to turn decidedly down first. Copper Copper is getting cautious, and would probably decline should the commodities pause continue – no matter what other base metals would do at the same time. Still, that‘s internal strength in the waiting, similarly to the precious metals strength. Bitcoin and Ethereum The crypto break higher ran out of steam, warning of a rickety ride ahead – not just in cryptos. Things can still get volatile. Summary S&P 500 bulls haven‘t lost the opportunity to force higher prices, but need to repel the upcoming intraday flush that can come today, and possibly even continue tomorrow. Yes, instead of seizing upon the chance, bonds have merely paused, creating a perfect environment for whipsawish trading today – I‘m still expecting Friday‘s lows to hold on a closing basis, but I‘m not ruling out a fake breakdown first. The very short-term outlook is simply choppy until the bond market upswing kicks in in earnest. And that would provide more fuel to precious metals and commodities while pressuring the dollar – seems though we would have to wait for a while to see that happen. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

Stacking bitcoins winning edges It is not the number of edges that get it low risk. And again, there are no hidden magic formulas. What works well is covering multiple aspects in stacking one’s edges: Market behavior Time of day Oscillators for ranging markets Indicators for trending markets Supply/demand zone identification (VWAP=volume weighted average price, in addition to support and resistance lines) Inter-market relationships Leading/lagging (relative strength within a sector or group) Candlestick pattern Volume Time frame relationships Action-reaction principle News Day of the week Swing leg count MAE (=maximum adverse excursion) Mathematical/statistical edges like standard deviation Your list might look vastly different but should include tools that cover the principal variants of market behavior (ranging, trending, slow/fast price action, liquidity, time, volume, transactions). Investopedia is a good research tool for finding definitions and explanations of the various available technical tools. BTC in US-Dollar, daily chart, how we stack odds in our favor: Bitcoin in US-Dollar, daily chart as of February 8th, 2022. Our previous chart book release described fundamental reasons for being bullish on bitcoin, which we stack in a similar principled fashion. We pointed out that we were looking for low-risk entry points to build up a long-term position for bitcoin. Such a low-risk opportunity arose on February 3rd, last week. We had the following edges stacked at the time of entry (green arrow): General price strength (directional yellow line channel) Previous day retracement (action-reaction principle) Small range Doji for tight stop and possible reversal indication VWAP (blue histogram to the right of the chart) indicating a supply zone Scheduled ECB news item out of the way Time of week Time of day (we entered near the close of the daily candle) Extended from the mean (blue line, standard deviation) Commodity Channel Index (CCI). A momentum-based oscillator useful in congested sideways channels, gave the prior day to execution indication of a long entry (yellow arrow) We posted our entry in real-time in our free Telegram channel. Within a 24-hour period, we could profit on half of the position size for a gain of 8.73%. We also posted this first profit-taking target in real-time in our free Telegram channel. Our quad exit strategy provides income-producing revenues like this but, even more, eliminates risk. Consequently, this approach supports trading the remaining position with psychological ease for the intended long-term holding period. Hence, even starting out as a a short-term trade, the last 25% of the initial position can become a long-term invest. BTC in US-Dollar, weekly chart, well-positioned: Bitcoin in US-Dollar, weekly chart as of February 8th, 2022. With previous entries at recent lows established in much the same manner, we are now exposed to the market with seven remaining rest positions at zero risk. Such an approach can afford to negate whether this will be the long-term turning point or not. Profits have been made. Should our plan pan out, then the remaining exposed capital will lead to further profits. Otherwise, this remaining position size will stop out at breakeven entry level. The weekly chart shows now a confirmed situation of a weekly bar takeout. For most traders this is an entry signal while we were already well established. We are playing with the market’s money and profits banked. With this time frame alignment more money is expected to join the long side. The chart also illustrates the favorable risk/reward-ratio to the right of the chart.   BTC in US-Dollar, monthly chart, early bird: Bitcoin in US-Dollar, monthly chart as of February 8th, 2022. A glance at the monthly chart shows we are positioned very early and aggressively for this time frame. Nevertheless, as soon as prices might reach US$48,000, we will find ourselves here as well time frame aligned with a bar takeout. Green numbers show our entry prices for January with two entries and February with five entries. Should prices move upwards in our favor, we would take again partial profits near the red horizontal trend line slightly below all-time highs. The remaining positions stays in place for a possible breakout to all-time new highs. Too late if you are not positioned yet? No! This continuous flow of adding low-risk entry trades followed by partial profit-taking allows participating at all stages of market swings. Stacking bitcoins winning edges: In short, you want to have a clear instruction sheet on what to do in whatever market condition bitcoin throws at you. With a set of tools broadly covering all these variants and measuring them, you will be able to act without hesitancy. Then you can hope for the best, since you planned for the worst. Risk control is the core of each advanced trading approach! We aim to keep it simple, like a card counter, which supports executing high probability winning trades. At the same time, the crowd is confronted by surprising news or fast-moving markets. They use reactionary, inappropriate execution, which in turn creates losing trades. Feel free to join us in our free Telegram channel for daily real time data and a great community. If you like to get regular updates on precious metals and cryptocurrencies, you can also subscribe to our free newsletter. Disclosure: This article and the content are for informational purposes only and do not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. The views, thoughts and opinions expressed here are the author’s alone. They do not necessarily reflect or represent the views and opinions of Midas Touch Consulting. By Korbinian Koller|February 6th, 2022|Tags: Bitcoin, Bitcoin bounce, Bitcoin bullish, bitcoin consolidation, crypto analysis, Crypto Bull, crypto chartbook, DeFi, low risk, quad exit, technical analysis, trading education|0 Comments About the Author: Korbinian Koller Outstanding abstract reasoning ability and ability to think creatively and originally has led over the last 25 years to extract new principles and a unique way to view the markets resulting in a multitude of various time frame systems, generating high hit rates and outstanding risk reward ratios. Over 20 years of coaching traders with heart & passion, assessing complex situations, troubleshoot and solve problems principle based has led to experience and a professional history of success. Skilled natural teacher and exceptional developer of talent. Avid learner guided by a plan with ability to suppress ego and empower students to share ideas and best practices and to apply principle-based technical/conceptual knowledge to maximize efficiency. 25+ year execution experience (50.000+ trades executed) Trading multiple personal accounts (long and short-and combinations of the two). Amazing market feel complementing mechanical systems discipline for precise and extreme low risk entries while objectively seeing the whole picture. Ability to notice and separate emotional responses from the decision-making process and to stand outside oneself and one’s concerns about images in order to function in terms of larger objectives. Developed exit strategies that compensate both for maximizing profits and psychological ease to allow for continuous flow throughout the whole trading day. In depth knowledge of money management strategies with the experience of multiple 6 sigma events in various markets (futures, stocks, commodities, currencies, bonds) embedded in extreme low risk statistical probability models with smooth equity curves and extensive risk management as well as extensive disaster risk allow for my natural capacity for risk-taking.

NIO stock gets a strong rating from latest Barclays research. NIO remains bearish and is down 25% year to date. NIO and other Chinese EV names remain in growth mode as the latest delivery data showed. NIO stock remains mired as it ended Monday virtually flat. The stock is down over 40% from three months ago as Chinese names see international investors flee on regulatory concerns. NIO Stock News It has been a turbulent time for holders of Chinese tech stocks. Alibaba's ANT Group spin-off set things off. Then the DIDI delisting not long after its IPO added to woes. Then a host of regulatory crackdowns was the final straw for international investors who bailed out of the names en masse. This is despite the EV names in particular remaining on track from a growth perspective as all have posted strong delivery data. While January deliveries slowed from December, the yearly growth rates still are impressive. January is traditionally the slowest month of the year in China though due to the lunar new year. NIO for example delivered 7.9% fewer vehicles in January versus December. On a yearly basis, January deliveries were 33.6% higher. This was replicated across many other Chinese EV names. Now Barclays has picked up the theme as it issues a bullish note this morning. "We believe that the rapid adoption of EVs around the world and booming EV sales have presented China’s EV makers a rare opportunity to not only take a sizable market share of the domestic auto market – the largest in the world with about 25-30% global share by units sold per annum – but also build a dominant position on the world stage." Barclays put a $34 price target on the shares. This does highlight the potential growth potential of Chinese tech stocks and the EV space in particular. We question whether investors will reenter, however, having been let down previously. Fool me once, shame on you, fool me twice... Ok, let's not have another George W. Bush moment! The point is a valid one. It will likely take more than analyst upgrades to tempt investors back to the space. Goldman, the king of investment banks, has previously been strongly bullish on NIO and to no avail. It will take a series of strong earnings and relative calm in terms of regulatory concerns to eventually tempt investors back. NIO Stock Forecast The recent spike lower did fill the gap from back in October 2020. The market just loves to fill gaps. We also note this spike lower created a shooting star candle, a possible reversal signal. There is already a bullish divergence from the Relative Strength Index (RSI) as shown. The area around $27.34 is the first resistance. Getting back above indicates the bearish trend may finally be slowing. That would then bring NIO into a range-bound zone from $27 to $32. Only breaking $33.80 from January 3 ends the downtrend. Support is at $14 from the strong volume profile. Look for an RSI breakout as that could signal more gains. The RSI has been shrinking in range and may test an upside breakout. NIO 1-day chart

While Oil prices have seen significant movements in recent times, with Brent gaining over 20% from the start of 2022 and reaching the highest level since october 2014, we are beginning to see a slight pullback despite an unexpected inventory drop shown in yesterday's API report. Talks surrounding the Iran nuclear deal, which could bring around 2 mpd supply into the markets, have helped prices retreat while easing of tensions surrounding the Russia-Ukraine situation have also boosted sentiment. On the other hand, while these are positive signs the situation remains uncertain as any further escalation could see supply significantly disrupted and as the Iran deal remains slightly out of reach for the time being. OPEC appears to be nearing production capacity and optimistic forecasts point to a rise in demand throughout the year so unless some progress is made among other producers, those supply concerns could translate into record prices and subsequent impacts on a variety of sectors. Today’s EIA inventory report could prove to be important for short term price action as a confirmation of the API report could potentially increase concerns regarding short term price stability.   Stock markets continue to recover as investors await earning reports from Uber and Disney European stock markets are extending the upward move after a positive Asian session and following a higher close of US indices despite some general uncertainty seen across markets. Stock prices have been increasingly volatile on the back of recent geopolitical tensions and some surprising earnings reports released during this earning season. Fiscal and monetary policy has also greatly impacted investor sentiment but many appear to be reassured for the time being as we see a continuation of the recent rebound across global markets while investors await today’s key earnings announcements from major companies like Uber technologies and Disney among others. While it remains to be seen whether these will manage to meet expectations, the situation remains quite fragile with many markets experiencing significant volatility and as several central bankers are also due to speak today.   Barratt Developments strong results boost investor confidence Barratt Developments report exceeded expectations and pointed to a stronger recovery from covid levels with over 18,000 home constructions and strong revenue figures. The company expects this positive performance to continue throughout 2022 and despite some uncertainty surrounding the global economic environment, the general market situation appears to favor such optimistic performance. It remains to be seen if the company will manage to successfully implement its strategy or if it will encounter issues driven by record inflation and potential supply chain disruptions.

Bitcoin price slows down its ascent after flipping the $42,748 hurdle into a foothold. Ethereum price contemplates a retracement after facing the 50-day SMA at $3,208. Ripple price looks ready for consolidation after a 51% ascent over the past four days. Bitcoin price rally is slowing, allowing bulls to take a breather before the next leg-up. While some might argue the short-term outlook looks bearish – due to the flash crash in January, the bigger picture reveals cryptocurrency (https://www.fxstreet.com/cryptocurrencies) markets still have the potential to go higher. A Wells Fargo report published in February reveals that cryptocurrency adoption is growing exponentially and, in many cases, resembles the growth curve of internet adoption. The American financial corporation even goes on to state the crypto sector could soon exit the initial phases of adoption and enter “an inflection point of hyper-adoption.” Wells Fargo Report: Internet usage history vs crypto users Bitcoin price at a decisive moment Bitcoin price rallied 25% in the last four days and set up a swing high at $45,539.(https://www.fxstreet.com/cryptocurrencies/news/bitcoin-begins-correction-after-45k-rejection-where-can-btc-price-bounce-next-202202081914) The rally rippled out, triggering copycat moves in other altcoins and the cryptocurrency market in general. Yet BTC failed to produce a daily candlestick close above the breaker’s upper limit at $44,387. So, as a result, the bearish outlook is still in play. Investors should be prepared for anything between a minor retracement and a full-blow bear trap. An optimistic scenario will likely see BTC retest the weekly support level at $39,481 before triggering the next leg-up. A more pessimistic scenario, however, would speculate that Bitcoin price could crash to $34,752. A breakdown of this support floor could be the key to triggering a crash to $30,000 or lower. BTC/USD 1-day chart While things look on the fence for Bitcoin price, (https://www.fxstreet.com/cryptocurrencies/bitcoin) a daily candlestick close above $44,387 will invalidate the bearish thesis. A bullish regime, however, will only kick-start if BTC produces a daily candlestick (https://www.fxstreet.com/rates-charts/chart/candlestick-patterns) close above $52,000.   Ethereum price takes a breather Ethereum (https://www.fxstreet.com/cryptocurrencies/ethereum) price seems to be undergoing a pullback (https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-holds-above-3k-but-network-data-suggests-bulls-may-get-trapped-202202090153) as it faces off with the 50-day Simple Moving Average (SMA) at $3,208 while still hovering inside a bearish breaker, extending from $2,789 to $3,167. A rejection here could lead to a retracement to $2,812, where buyers have a chance at restarting the uptrend. Assuming the bullish momentum picks up, there is a good chance ETH could slice through the $3,208 and make a run for the $3,413 hurdle. The local top for Ethereum price could be capped around the convergence of the 50-day and 100-day SMAs at roughly $3,600. ETH/USD 1-day chart On the other hand, if Ethereum price fails to stay above $2,812, it will indicate that buyers are taking a backseat. This development will invalidate the bullish scenario and trigger a crash to the weekly support level at $2,324. Ethereum price could liquidate bulls if ETH falls below $3,000 Ripple price to reestablish directional bias Ripple price broke out of its ten-day consolidation (https://www.fxstreet.com/cryptocurrencies/news/xrp-price-could-easily-return-to-1-under-one-condition-202202081437) and rallied 51% in just four days. This run-up sliced through the $0.740 and $0.817 hurdles, flipping them into support levels. While this climb was impressive, XRP price is likely to retrace as investors begin to book profits. The resulting selling pressure could push Ripple price down to the $0.740 support level where buyers can band together for a comeback. In some cases, the U-turn might not arrive until a retest of the $0.595 to $0.632 demand zone. Regardless, investors can expect XRP price to run up to $1 and collect the liquidity resting above it. XRP/USD 1-day chart On the contrary, if the Ripple price fails to stay above the $0.595 to $0.632 demand zone, it will reveal the lack of bullish momentum and hint that a further descent is likely. In this case, XRP price will sweep below the $0.518 support level to collect the sell-side liquidity resting beneath. XRP price could easily return to $1 under one condition

Peloton shares continue to be the most discussed stock on mainstream and social media. Two straight days of 20%-plus gains for PTON stock. The new CEO gets just the start he would have wanted. It is not exactly reassuring to your confidence when you step down as CEO of a company and the stock immediately explodes higher. Investors clearly had enough of Peloton's (PTON) former CEO John Foley. New man Barry McCarthy hits the ground running despite some mixed commentary from the analyst community this morning. Peloton Stock News Peloton reported earnings on Tuesday. The stock had already surged on news (https://www.fxstreet.com/news) of a new CEO and continued reports that the company may be in the sights of big tech eyeing a potential takeover for the beleaguered fitness company. Revenue came in at $1.13 billion below the $1.15 billion estimate. Earnings per share (EPS) came in below estimates at $-1.39 versus the $-1.20 estimate. The outlook was also weak with Peloton seeing full-year 2022 revenue at $3.8 billion, while analysts had forecast $4 billion. Following the results, Stifel maintained its buy rating on PTON with a $45 price target. Macquarie maintained its outperform rating with a lowered $60 price target, while Barclays also lowered its price target to $60 as well. Bank of America said, "Our estimates that assumed price cuts would drive new demand were too optimistic." BofA has a $42 price target for the stock. Peloton shares had already been strongly ahead in Tuesday's premarket before the earnings release. This was due to the new CEO and a cost-cutting plan including laying off 2,800 employees. The list of potential buyers for Peloton continued to grow as speculation mounted. Potential acquirers include virtually every major fitness company, numerous big tech firms, Berkshire Hathaway and SoftBank. We do question whether in particular big tech would get much benefit out of the acquisition. Fitness has been a big part of the wearable market, and Peloton's subscribers are its value, but do Apple, Amazon and Google really struggle that much for users? Sports companies mentioned include Nike (NKE) and Adidas (ADDYY). These may make more sense as the subscribers could generate more value, add-ons and ancillary sales. Peloton Stock Forecast The weekly chart (https://www.fxstreet.com/rates-charts/chart) gives us all the information we need going back to the launch in September 2019. Peloton (PTON) rallied all the way up to $171 this time last year before steadily falling back. The stock has now totally retraced all of the pandemic gains and then some. In that respect, investors may be tempted to buy into the name as subscribers in 2019 totaled just over 500,000, whereas currently Peloton has 2.77 million subscribers. From the weekly chart, we can see the power of volume gaps we often talk about. Peloton broke sharply once it entered the light volume zone from $81 to $37. Now it has stabilized at a high volume zone and the point of control. This does set a potential base for the stock. (https://www.fxstreet.com/markets/equities) Peloton (PTON) chart, weekly The daily chart below shows we have had a bullish divergence on the Relative Strength Index (RSI) since the last earnings despite the share price continuing to slide. $23 remains support with first resistance at $46. This latest move is likely to calm down unless more takeover talk surfaces. If the price move does calm, then holding above $30 is key to keeping the bottom in place. Peloton (PTON) chart, daily  

Inflation has been a key topic in the markets in recent times with several readings reaching the highest levels in decades and central banks trying to find a balance between adjusting their monetary and fiscal policy while stimulating the post pandemic economic recovery. One of the consequences of these policies has been a staggering increase in prices of most goods, which has become a serious issue of concern for central bankers as well as regular consumers who have seen their everyday expenses increase noticeably. Today’s CPI and Core CPI readings from the US could be highly impactful as they may dictate whether the Federal reserve will decide to take action in the upcoming meeting since as of now, five rate hikes are expected and several other central banks have already taken measures to contrast general inflation. Clearly there is a fine balance between sustaining the economy and exacerbating widespread inflation which may ultimately hinder stability across markets and today’s report could play a crucial role in that process of analysis. The US Dollar may react favorably to a higher than expected reading as it could almost seal the deal on an upcoming rate hike, while stocks could be impacted by prospects of less liquidity.   Watches of Switzerland report paints optimistic picture Watches of Switzerland's report showed a continued growth of its revenue and return on capital with significant gain in market share as the company plans to continue investing for growth and to enhance its leading position in the UK and as it attempts to become a clear leader in the US. The easing of restrictions and improving economic conditions have certainly helped but with potential supply issues and record inflation levels, we could be seeing a slowdown in the short-mid term if these issues are not approached carefully. Astrazeneca posts strong results but remains cautious Astrazeneca's results showed a total revenue increase of 41% to $37,417m including COVID-19 vaccine revenues. The company managed to achieve 14 positive Phase 3 readouts across nine medicines in 2021, and 22 regulatory approvals and authorisations in major markets which further boosted its market dominance in the field. Furthermore, the company expects CER of a high-teens percentage increase in total revenue and a mid-to-high twenties percentage increase in Core EPS for 2022. Despite this, while it will certainly benefit from a variety of innovations it provides, it may see a decline in its profits as revenue from vaccines potentially declines throughout the mid to long term.  

  The market was up, but mining stocks chose to reverse. Meanwhile, gold sent a clear signal to investors. So, when everyone buys, what happens? The gold mining stocks and silver mining stocks have reversed, even though gold didn’t. The top for the former is likely in. Most developments regarding the precious metals and their immediate surroundings were a continuation of what we had seen in the previous days, but one thing was different. That one thing is particularly informative. It has trading implications, too. Without further ado, let’s jump into mining stocks. Gold miners fell. Even though they declined by just $0.06, it was profound. The miners were following gold higher during the early part of yesterday’s (Feb. 9) session, but they lost strength close to the middle thereof and were back down before the closing bell. If the gold price reversed and then declined during the day, that would have been normal. However, gold stayed up. It’s fairer to compare GDX to GLD than to compare GDX to gold continuous futures contracts, as the former have the same closing hours, so let’s take a look at what GLD did yesterday. There was no reversal. GLD simply stopped at its declining medium-term resistance line. Also, the general stock market was up yesterday. Consequently, gold mining stocks had no good reason to decline. In fact, they “should have” rallied. They didn’t – they reversed instead. This tells us that the buying power has either dried up or is drying up. When everyone who wanted to get into the market is already in it, the price can do only one thing (regardless of bullish factors) – fall. Those who are already in can then sell. Monitoring the markets for this kind of cross-sector performance is one of the more important gold trading tips. Look, I’m not saying that declines now are “guaranteed”. There are no guarantees in the markets. There might be buyers that haven’t considered mining stocks that would now enter the market, but history tells us that this is unlikely. Instead, declines are very likely to follow. Let’s focus on the GLD ETF chart one more time. As I wrote earlier, it approached its declining medium-term resistance line. Any small breakout here is likely to be invalidated just like what we saw previously in November 2021 and January 2022. This time, however, the volume is low, so gold might not have enough strength for a breakout, and it could decline right away. Junior mining stocks provide us with a perfect confirmation of the bearish narrative. I emphasized before that juniors hadn’t moved above their 50-day moving average, and that they stayed below their rising blue resistance line. Consequently – I wrote – the downtrend in them remained clearly intact. Yesterday’s reversal served as a perfect confirmation of the above. The previous breakdowns were verified in one of the most classic ways. The silver price has been quite strong recently, which is also something that we see close to the local tops. The reversals in mining stocks, the situation in gold, AND the situation in the USD Index together paint a very bearish picture for the precious metals market in the short and medium term. By “the situation in the USD Index”, I’m referring to the fact that it’s after its early-month reversal and right above its rising medium-term support line that was not successfully broken. Since the USD Index remains above its rising medium-term support line, the trend remains up. Therefore, higher – not lower – USD Index values are to be expected. All in all, it seems that gold, silver, and mining stocks are going to decline in the coming weeks (quite possibly days) and that we won’t have to wait too long for the next big decline to start. Thank you for reading our free analysis today. Please note that the above is just a small fraction of today’s all-encompassing Gold & Silver Trading Alert. The latter includes multiple premium details such as the targets for gold and mining stocks that could be reached in the next few weeks. If you’d like to read those premium details, we have good news for you. As soon as you sign up for our free gold newsletter, you’ll get a free 7-day no-obligation trial access to our premium Gold & Silver Trading Alerts. It’s really free – sign up today. Przemyslaw Radomski, CFAFounder, Editor-in-chiefSunshine Profits: Effective Investment through Diligence & Care * * * * * All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses are based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are deemed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

  In line with bearish bets, miners have thrown a match. Gold, however, doesn’t want to leave the ring without a fight. How long will it stay high? While gold remains relatively firm despite stock market turbulence, rising real yields, and bearish technical indicators, even a confluence of headwinds hasn’t been able to knock the yellow metal off its lofty perch. However, mining stocks haven’t been so lucky. With my short position in the GDXJ ETF offering a great risk-reward proposition, the junior gold miners’ underperformance has played out exactly as I expected. Moreover, with major spikes in volume preceding predictable sell-offs (follow the vertical dashed lines below), I’ve warned on several occasions that the GDX ETF is prone to tipping its hand – we saw this volume spike in January, which was the 2022 top (as of today). In addition, with mining investors’ power drying up by the day, the medium-term looks equally unkind. Please see below: On Wednesday, gold miners fell. Even though they declined by just $0.06, it was profound. The miners were following gold higher during the early part of Wednesday’s (Feb. 9) session, but they lost strength close to the middle thereof and were back down before the closing bell. If the gold price reversed and then declined during the day, that would have been normal. However, gold stayed up. This tells us that the buying power has either dried up or is drying up. When everyone who wanted to get into the market is already in it, the price can do only one thing (regardless of bullish factors) – fall. Those who are already in can then sell. Monitoring the markets for this kind of cross-sector performance is one of the more important gold trading tips. Look, I’m not saying that declines now are “guaranteed”. There are no guarantees in the markets. There might be buyers that haven’t considered mining stocks that would now enter the market, but history tells us that this is unlikely. Instead, declines are very likely to follow. Yesterday’s big daily decline confirmed my above comments. Gold miners declined much more than gold did, and they did so at above-average volume. The latter indicates that “down” is the true direction in which the precious metals market is heading. To that point, the HUI Index provides clues from a longer-term perspective. When we analyze the weekly chart, it highlights investors’ anxiety. For example, after hitting an intraweek high of roughly 260, the HUI Index ended the Feb. 10 session at roughly 250 – just 3.99 up from last Friday – that’s an intraweek reversal. Furthermore, with the index still in a medium-term downtrend, shades of 2013 still profoundly bearish, and sharp declines often preceded by broad head and shoulders patterns (marked with green), there are several negatives confronting the HUI Index. As such, a sharp drawdown will likely materialize sooner rather than later. Please see below: Finally, the GDXJ ETF is the gift that keeps on giving. For example, with lower highs and lower lows being part of the junior miners’ roughly one-and-a-half-year journey, false breakouts have confused many investors. However, while I’ve been warning about the weakness for some time, more downside is likely on the horizon. To explain, I wrote on Feb. 10: I emphasized before that juniors hadn’t moved above their 50-day moving average, and that they stayed below their rising blue resistance line. Consequently – I wrote – the downtrend in them remained clearly intact. Yesterday’s reversal served as a perfect confirmation of the above. The previous breakdowns were verified in one of the most classic ways. The silver price has been quite strong recently, which is also something that we see close to the local tops. The reversals in mining stocks, the situation in gold, outperformance of silver, AND the situation in the USD Index (the medium-term support held) together paint a very bearish picture for the precious metals market in the short and medium term. All in all, if the weakness continues, I expect the GDXJ ETF to challenge the $32 to $34 range. However, please note that this is my expectation for a short-term bottom. While the GDXJ ETF may record a corrective upswing at this level, the downtrend should continue thereafter, and the junior miners should fall further over the medium term. In conclusion, gold showcased its steady hand throughout the recent volatility. However, mining stocks have cracked under the pressure. With the latter’s underperformance often a bearish omen for the former, the yellow metal’s mettle may be tested over the medium term. As such, while the long-term outlooks for gold, silver, and mining stocks remain profoundly bullish, a final climax will likely unfold before their secular uptrends continue. Thank you for reading our free analysis today. Please note that the above is just a small fraction of today’s all-encompassing Gold & Silver Trading Alert. The latter includes multiple premium details such as the targets for gold and mining stocks that could be reached in the next few weeks. If you’d like to read those premium details, we have good news for you. As soon as you sign up for our free gold newsletter, you’ll get a free 7-day no-obligation trial access to our premium Gold & Silver Trading Alerts. It’s really free – sign up today. Przemyslaw Radomski, CFAFounder, Editor-in-chiefSunshine Profits: Effective Investment through Diligence & Care * * * * * All essays, research and information found above represent analyses and opinions of Przemyslaw Radomski, CFA and Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. Opinions and analyses are based on data available to authors of respective essays at the time of writing. Although the information provided above is based on careful research and sources that are deemed to be accurate, Przemyslaw Radomski, CFA and his associates do not guarantee the accuracy or thoroughness of the data or information reported. The opinions published above are neither an offer nor a recommendation to purchase or sell any securities. Mr. Radomski is not a Registered Securities Advisor. By reading Przemyslaw Radomski's, CFA reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Przemyslaw Radomski, CFA, Sunshine Profits' employees and affiliates as well as members of their families may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Given last week’s strong price action and gold’s intraday resilience, it is now very likely that gold indeed is breaking out of the multi-month consolidation triangle. Actually, this large and symmetrical triangle had been building for more than a year, at least. However, the correction in gold began on August 7th, 2020. Now it looks like the breakout is in process. Typically, traders tend to aggressively buy into such a breakout. And given Friday’s sharp spike higher, it actually looks exactly like this. Hence, expect more volatility and a sharp move higher as the direction of gold’s next move has become more obvious. Please note, that it is rather challenging to draw and determine the correct triangle, because gold has been in a tricky sideways market for such a long time and many trend-lines have been invalidated during this messy period. But at the latest, a weekly close above US$1,875 should confirm the breakout. This should unleash enough energy to push gold prices quickly towards US$1,900 and even US$1,950 within a few weeks. Obviously, that would fit very well with gold’s seasonal cycle, which is bullish until the end of February at least, but often saw gold rallying into mid of march, too. Consumer sentiment at 10-year low but Fed wants to hike and taper From a fundamental perspective, it leaves us speechless how the Fed can go on a hiking rampage while consumer sentiment is at a 10-year low. While the confidence in governments worldwide is collapsing and inflation is spiking higher, raising rates will have zero impact upon supply shortages. Instead, it will make these shortages only worse and bankrupt more companies in the supply chain. Also, it will bankrupt emerging markets, as the strong dollar has already been putting so much pressure on dollar indebted nations and creditors. It’s all a big mess, and we believe there is no way out. That’s why the warmongering industrial and military complex of the US is desperately trying to push Russia into an attack on Ukraine! Without showing any proof, the Biden administration and their mouthpiece “the mainstream media” have been pushing people’s focus on fears that Russia will soon invade Ukraine. Another noteworthy fundamental observation: Gold’s correction began in earnest when Pfizer & Biontech announced their vaccine on November 9th, 2020. In a first reaction, gold immediately sold off $150 on that same day. Many more similar large red daily candles followed over the last 16 months, destroying the confidence of the gold bugs and shifting millions of dollars to the short sellers. Now that more and more very serious questions about the vaccines are debated in the news, it would make sense for gold to run back to US$1,950. This was the level where gold was trading back on November 9th, 2020. Gold in US-Dollar, weekly chart as of February 13th, 2022. Gold in US-Dollar, weekly chart as of February 13th, 2022. On the weekly chart, gold has been slowly but surely progressing into the apex of the triangle over the last few months. It now looks like Gold is breaking out with vengeance. Theoretically, the resistance zone between US$1,850 and US$1,875 could still stop the bullish train. The weekly Bollinger Bands (US$1,864) sits right in this zone and should at least challenge the bulls for some days. However, the weekly stochastic has just given a new buy signal. On top, the oscillator has been making higher lows since March 2021. A measured move out of this triangle could take gold to around US$1,950 to US$1.975 until spring. The monthly Bollinger Band ($1,975) could become the logical target! Overall, the weekly chart is becoming more and more bullish, suggesting that gold can at least move around US$80 to US$100 higher. Gold in US-Dollar, daily chart as of February 13th, 2022. Gold in US-Dollar, daily chart as of February 13th, 2022. On the daily chart, gold has been struggling with the upper triangle resistance in November and January. Each time, the bears managed to push back. Now it looks like the bulls are finally successful. The fierce and sharp pullback two and half weeks ago had created a nice oversold setup which became the launching pad for the ongoing attack. Since then, the slow stochastic has been nicely turning around. This buy signal is still active and has not yet reached the overbought zone. Thanks to Friday’s big green candle, the bulls are now bending the upper Bollinger Band (US$1,858) to the upside. To conclude, the daily chart is bullish, and gold should have more upside. If the bulls continue their attack, we could see prices directly exploding for four to seven days. More likely would be a consolidation. Only with prices below US$1,835 the breakout would have failed. In that rather unlikely case, the picture could quickly turn ugly again. Conclusion: Gold is breaking out! In mid of December, gold made an important low around US$1,752. Back then, most gold bugs had enough and did throw in the towel after a very difficult and messy 16-month correction. Gold, silver and the mining stock had become the most hated asset. But actually, all that gold might have been doing was building an epic base and a launch pad to start the next leg higher within its bull market. Overall, we expect that Gold is breaking out after a short consolidation! The successful breakout above resistance between US$1,850 and US$1,875 should happen within the next few days or weeks. This should then lead to higher prices and gold will likely run towards US$1,950, at least. However, we are not sure yet whether this will also bring an attack towards the round number resistance at US$2,000. Given the fact, that gold usually starts to struggle somewhere in spring, the ongoing rally could still be just a counter-trend move within the larger ongoing consolidation/correction. Hence, we are short-term very bullish, mid-term neutral and long-term very bullish for gold. Feel free to join us in our free Telegram channel for daily real time data and a great community. If you like to get regular updates on our gold model, precious metals and cryptocurrencies you can also subscribe to our free newsletter. Disclosure: Midas Touch Consulting and members of our team are invested in Reyna Gold Corp. These statements are intended to disclose any conflict of interest. They should not be misconstrued as a recommendation to purchase any share. This article and the content are for informational purposes only and do not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. The views, thoughts and opinions expressed here are the author’s alone. They do not necessarily reflect or represent the views and opinions of Midas Touch Consulting. By Florian Grummes|February 13th, 2022|Tags: Gold, Gold Analysis, Gold bullish, gold chartbook, gold fundamentals, precious metals, Reyna Gold, US-Dollar About the Author: Florian Grummes Florian Grummes is an independent financial analyst, advisor, consultant, trader & investor as well as an international speaker with more than 20 years of experience in financial markets. He is specialized in precious metals, cryptocurrencies and technical analysis. He is publishing weekly gold, silver & cryptocurrency analysis for his numerous international readers. He is also running a large telegram Channel and a Crypto Signal Service. Florian is well known for combining technical, fundamental and sentiment analysis into one accurate conclusion about the markets. Since April 2019 he is chief editor of the cashkurs-gold newsletter focusing on gold and silver mining stocks. Besides all that, Florian is a music producer and composer. Since more than 25 years he has been professionally creating, writing & producing more than 300 songs. He is also running his own record label Cryon Music & Art Productions. His artist name is Florzinho.

The Swing Overview - Week 6 The record inflation rate in the US over the past 40 years sparked another wave of volatility in the markets on fears of more aggressive Fed action against an overheated economy. Unexpectedly strong US labour market data also came as a shock to markets. As a consequence, yields in the US 10-year bonds rose and broke the 2% mark. Equity indices, on the other hand, weakened towards the end of the week and we will see whether strong supports will be tested again under the influence of these fundamentals. Rising bond yields are not good news for gold either, which has so far responded to the strengthening dollar and rising yields by weakening. The macroeconomic data from the US Inflation and labour market data were clearly among the most anticipated macroeconomic events last week. Year-on-year inflation in the US rose to 7.5% in January 2022. This is the highest reading since February 1982 and is also higher than analysts' estimates, that had expected inflation to be around 7.3%. The reasons for the higher inflation are rising energy costs, a tight labor market and disruptions in supply chains, which are multiplied by strong demand in a recovering economy. The biggest contributors to rising inflation were energy prices, which rose by 27%, and fuel prices, which rose by 40%. Figure 1: The inflation in the US In terms of the labour market, the US economy created 467,000 new jobs in January. This was much more than the analysts' forecast, who estimated that, given the spread of the Omicron variant, only 150 thousand new jobs would be created in the US in January. Figure 2: The US jobs growth (NFP) This very strong data means one thing. The Fed will tighten the economy and probably at a much faster pace than the market expects. And this is also the reason for the further rise in the US 10-year bond yields, which have surpassed the 2% mark and reached their highest level since August 2019. Along with this, the dollar index, which had made a correction last week, has also started to strengthen.   Figure 3: 10-year government bond yield on the 4H chart and the USD index on the daily chart A strong dollar, rising yields and the economy tightening at a faster pace than the market expects are clearly negative news for equity indices and also gold.   The NASDAQ and the SP500 Earnings season continues in the US. Of the well-known companies, Pfizer (NYSE:PFE) reported results last week. While the company's earnings were higher than expectations, the pharmaceutical giant also reported that it expects revenue for 2022 to be USD 32 billion, below analysts' expectations, who were hoping for growth of around USD 33.8 billion.  Facebook continues to lose ground after last week's washout, causing the share price to drop from USD 320 to USD 220 in one week.   Figure 4: The NASDAQ index on H4 and D1 chart The NASDAQ started last week with a rise and the price approached the resistance according to the H4 chart. The information about record inflation had a strong negative impact on technology stocks and the price was moving near the support at the end of the week, which is in the range near 14,392 - 14,530 according to the H4 chart. Significant support is in the area at 13,750-13,950 according to the daily chart. The nearest resistance according to the H4 chart is at 15,050 - 15,080.   Figure 5: The SP 500 on H4 and D1 chart   There has been a very similar pattern on the SP 500 index to the NASDAQ. The price got to the resistance which is defined by the horizontal resistance area at 4,580 - 4,600. At the same time, there is a confluence with the broken trend line of the rising channel below which the index is moving. Support according to the H4 chart is at 4440 - 4454. According to the daily chart, significant support is at 4,225 - 4,300.   German DAX index Figure 6: The DAX on H4 and daily chart There is no clear direction on this index recently. We can probably say that the index is moving in a sideways trend which according to the daily chart is defined by the strong resistance at 16,300 (all-time high) and the support which has already been tested several times in the area between 14,850 - 15,000. The current move shows that the rising channel has been broken to the downside and also that the moving averages on the H4 chart EMA 50 and SMA 100 are in a bearish constellation. This together with the higher inflation data and also the recently announced hawkish ECB policy would suggest more of a move down to the aforementioned support. The nearest horizontal resistance according to the H4 chart is at 15,532 - 15,620. The next resistance according to the H4 chart is at 15,727 - 15,757.   The EUR/USD near strong resistance The EURUSD approached the strong 1.15 level but after the US inflation data was announced, the pair started to fall strongly. Thus, according to the H4 chart, a false break of the resistance arose, which is in the band around 1.1480 which tends to be a strong signal for further weakening. Figure 7: EURUSD on H4 and daily chart The possibility of a weakening is also indicated by the development of the interest rate differential that is present in the yields between the 10-year bonds of Germany and the US. This has recently been very strongly correlated with developments on the EURUSD. Figure 8: Correlation of the interest rate differential between German and US 10-year bonds with the EURUSD currency pair on H4   The interest rate differential is starting to decline and this should suggest that the EURUSD might weaken. The nearest resistance is at the 1.1460 - 1.1480 band. The nearest support according to the H4 chart is at 1.1360 - 1.1370. The next one is at 1.1270 - 1.1280.   Gold Gold is taken by many investors as a hedge against inflation. But lately, gold seems to be losing in the battle for inflation protection to US Treasuries, which carry some yield, while gold does not deliver any yield. Gold is most responsive to the value of the US dollar. If the dollar rises, gold tends to depreciate and vice versa. Recent developments in the USD index suggest that the dollar could strengthen again this week, which should mean a test of support for gold. Figure 9: Gold on H4 and D1 charts   The nearest resistance according to the H4 chart is in the area of 1,835 - 1,841. Then the next resistance according to the daily chart is at 1,847 - 1,852. The nearest support is at 1 788 - 1 795 and then 1 780 - 1 784 USD per troy ounce of gold.  

The battle for investment land is still going on, and the lack of attractive assets feels more and more severe. This applies to all large cities in Poland. For a long time, no matter the place, the investment land has not been easily available. In contrast, there are both plenty of people willing to buy land, as well as free funds to finance these purchases. The money surplus is enormous. Investors are trying to invest their capital in land as soon as possible, for fears of inflation. Although the peak shopping spree, often associated with really risky decisions, has already passed, the situation continues to bear resemblance to the one we remember from the years 2007-2008, when everything was selling like hot cakes, at rapidly rising prices. The appearance of new investors has shortened the sale process of attractive lands, which now usually closes within 3 months. In turn, the difficulty is the highly overestimated value of many plots of land or the unregulated ownership status of the property. The owners of land are also very reluctant to reserve the land through conditional or preliminary purchase agreements without deposit (earnest money). Maximizing profits through investments in land There are many companies willing to invest in land, despite the prices of land in some locations are growing in a blistering pace. The greatest shortage occurs in case of large plots for housing development in well-connected parts of cities. When the interesting plots of up to 5,000 m2 of residential and usage space appear on the market, even several companies compete for it. The larger the plot, the lower the number of competitors. Over the last two years, rates on the investment land market have increased by several dozen percent, depending on the location. Prices for 1 m2 of residential and usage space in attractive places in Warsaw or Krakow jumped by as much as 60 percent. Investors, for fear of further increases, buy land to increase their future profits. They are not deterred by soaring construction costs and time-consuming administrative procedures. The purchase of land can be financed in a number of ways. Many transactions are based on loans, many is financed from ongoing development activities, and some from issuance of bonds.   The pro-ecological, high standard housing estates, in unique location, turned out to be a hit among housing investments in the last year. The recent changes have translated into the demand for flats in recreational and tourist-attractive locations. The demand for land for residential buildings is further increased by the investments into premises for institutional quality lease. More and more development companies are involved in this type of projects, despite the lower margin. The share of the Private Rented Sector (PRS) in the sale of apartments as registered in 2021 by listed entities has already increased to over a dozen percent. Warehouses, warehouses everywhere As in case of housing developments, we can talk about very high demand for land for the planned warehouse and industrial investments. Wherever we see changes, road infrastructure improvements or express roads planned for construction, the land is immediately secured with preliminary contracts. It is easier to find plots for logistics projects, as investments in this sector are also carried out in greenfield areas located outside the administrative borders of cities. Therefore, both the greater supply and less competition from investors looking for land for investments in residential or service and commercial sectors. The land in required for both large-format investments with an area of ​​several dozen or over 100 thousand m2, as well as the so-called last mile warehouses and smaller municipal facilities. Investors from the warehouse sector are primarily interested in plots located near logistics hubs and in the vicinity of the largest cities, as well as plots located in smaller towns due to the rapidly growing online sales. The warehouse market is currently experiencing a period of the development of speculative investments. The companies are not afraid to perform such projects, as the demand for warehouse space has never been growing so fast as now, and there is practically no free warehouses space available. This is largely related to the growth of the e-commerce market, which is expected to grow further in value in the coming years, at the average rate of several per cent per annum. Moreover, the change of the transport structure, shortening the supply chains or the growing demand for buffer areas, where inventories are stored, also affect this demand. Similarly, the warehouses generate over half of the transaction volume on the investment market in Poland. Year by year, the logistics and industrial sectors are increasing their market share, reaching new highs. Our market is the point of interest of foreign capital from Europe, mainly from Germany, as well as North American and Asian companies. Shares of small shopping centers are going up Developers also share a keen interest in the construction of retail parks. The format now brings together as many as three-quarters of new investments in the retail sector. Retail parks, just like warehouses, have attracted more and more attention of funds and capital groups as investment assets. Although in Poland in 2021 the retail space has increased by 300,000 m2, with the same amount currently under construction, 70 percent of which being the retail parks, unfortunately there is still a shortage of this commodity. Hence, one-third of transactions for the purchase of commercial real properties from the last year concerned older-generation properties, dominated by properties owned by Tesco. The recent popularity of retail parks and convenience centers has resulted in the increased interest of the investors to perform such projects. Investors often enter into these investments in order to diversify their real properties portfolio. However, of course there are also entities on the market that specialize only in this format. The advantage of projects related to the construction of retail parks is that their construction process can be completed within 18 months, and the entry threshold is much lower in comparison to larger projects. In case of these projects, investors are looking for land mostly in smaller cities up to 100,000 or even 50,000 residents, in which market saturation is not too high. Land in such locations is much cheaper than in the largest cities, which also translates into higher investment profitability. The most attractive plots of land for new projects are located in areas which can potentially be visited also by residents of the surrounding boroughs. In case of retail parks, the key to ensuring satisfactory returns on investment is to include in the list of tenants a popular foodstuff chainstore. This is not only one of the most important reasons for visiting a shopping center, but also influences the image of the facility. An interesting trend that we can observe recently is the appearance of new brands in retail parks, often boutique brands, that have never been present in such facilities before. Land - the star of the investment market The high activity on the investment land market is also evidenced by the transactions carried out in 2021 by LBC Invest, most of which concerned land real properties. In WrocÅ‚aw and Kraków, we have supported our clients with comprehensive customer services for contracting of land in the implementation of development projects in the residential segment for over 45.000 m2 of residential and usable area. Some of them are under construction, and some are in the phase of obtaining building permits. We also closed a few speculative transactions last year. We are currently performing activities on over 70 ha of land. In the last quarter of 2021, we also signed contracts for the performance of comprehensive investment processes, including commercialization for retail parks located in Krakow and two smaller cities – in Lesser Poland and Pomeranian regions, with investors both from Africa and Poland. Last year, we also managed transactions for the purchase of commercialized land, together with construction designs and a building permit, and at the same time concluding general contracting agreements with previously selected companies. Concluding the contract of sale in this form was a condition for the purchase of investment areas, especially those for retail parks and located in attractive locations, with a built-up area of ​​2,500 to 8,000 GLA.

Since the end of last week, the price of gold has risen by more than 3%. With a high of $1879, it was temporarily rose to highs since last June. Biden's warning that Russia could invade Ukraine "at any moment" triggered a broad sell-off in Europe and several emerging markets and tangentially affected the US equity market. Recent events have brought back interest in assets that have benefited from decades of tension: gold has risen as insurance against currency destabilisation, and oil has risen on fears of a surge in demand and a shortage of supply. Geopolitics give a shaky ground behind this growth, so investors should be wary of joining gold's rise. It is impossible to predict whether the next move will escalate or de-escalate. Now, there are far more signs that the peak of tension is behind us, yet gold continues to gain today. Likely, the fundamental demand for gold is now driven by a desire to preserve the purchasing value of capital amid inflation and ongoing price shocks across a range of commodities. Also, tech analysis is now on the side of the bulls. A trend of higher local lows has formed since the end of September, with the last anchor point in late January. In addition, the 50-day moving average is again above the 200-day moving average, giving a bullish "golden cross" signal. This signal coincided with a solid upward momentum on Friday, strengthening the bullish signal. In January, the former retracement resistance line became support, indicating a break in the trend. If gold stays above $1865 - the area of the November peaks- despite the reduction of the geopolitical premium - we can speak of a bullish momentum development. In this case, the nearest target of this impulse will be the area of $1900-1910. In general, we can say that the long period of correction and sluggish dynamics of gold is over, and then its price can move from one local top to another, potentially exceeding $2000 by August.

Binance Coin takes a small step back this morning due to some profit-taking.BNB bulls hold all the cards as the relief rally is not over yet.Expect a pop above $444-$452 with a profit target set at $480 for the moment.Binance Coin (BNB) price action shot back above the red descending trend line yesterday with a massive relief rally that lifted market sentiment. With that, the downtrend looks to be broken, and an uptrend could be on the cards if bulls can take out the $444-$452 resistance barrier with a triple top formation, the 55-day Simple Moving Average (SMA) and the longer-term pivotal level all coincide in this region. Once through there, expect the next stage to be set for a move towards $480 with the 200-day SMA coming in, returning another 10%.Binance Coin set for the second phase in the recovery rallyBinance Coin is undergoing some profit-taking this morning after the solid relief rally from yesterday (https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-decentraland-binance-dogecoin-asian-wrap-16-feb-video-202202160214) that has lifted market sentiment and saw some decent inflows into markets. On the way up, bulls hit some resistance from the double top from February 08 and January 21 and, in the process, made it a triple top resistance. This, together with the already known $452 and the 55-day SMA coming in at $445, makes it a substantial (https://www.fxstreet.com/cryptocurrencies/news/binance-coin-must-break-out-above-this-level-before-bnb-can-retest-660-202202152150) barrier that will need to be broken to prove that the relief rally still has plenty of juice to go.Expect thus some profit-taking today, a little bit on the back foot with $419 as support to bounce off back to $445. Some more positive signals coming from the Russia-Ukraine developments could be the needed additional catalyst to push through this difficult barrier. The next target is set at $480, with the 200-day SMA falling in line with that considerable number, resulting in probably the same profit-taking pattern (https://www.fxstreet.com/cryptocurrencies/news/dogecoin-and-shiba-inu-price-climbs-as-binance-smart-chain-whales-accumulate-meme-coins-202202151719) as BNB price action shows today.BNB/USD daily chartOverall, the US keeps claiming that the situation in Central-Europe remains precarious and could see an escalation (https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-bitcoin-binance-coin-and-decentraland-european-wrap-11-february-202202111055) any time now. Once those headlines hit the wires, expect the whole cryptocurrency space to collapse and for there to be a massive pullback from investors, with BNB price falling back initially to $389. Depending on the severity of the attacks, another push lower towards $340 would be the logical outcome and result in BNB price shedding 22% of its value.

  The Natural Gas flight has passed its first goal and is on its way to the second target. Here is a map showing the route to Natgas’ new destination. In today’s edition, I will provide some updates on recent market developments for Natural Gas futures (NGF22) following my last projections published on Friday, Feb. 11, for which the stop was also updated on Wednesday. Trade Plan We all love it when a trade plan comes together! The market has to cope with stronger demand to fuel increasing industrial activity after being surprised by the warming mid-February weather forecast. Therefore, you can see that the rebounding floor (support) provided was ideal for the Henry Hub, which is also supported by unyielding global demand for US Liquefied Natural Gas (LNG) to turn its momentum back up. The recommended objective of $4.442 was almost hit yesterday. However, it was achieved this morning (during the European session) and the $4.818 level is now the next goal. As I explained in more detail in my last risk-management-related article to secure profits, my recommended stop, which was located just below the $ 3.629 level (below one-month previous swing low), was recently lifted up around the $3.886 level (around breakeven). Now it could be lifted one more time up to 4.180, which corresponds to the 50% distance between the initial entry and target 1. By doing so, the second half of the trade would become optimally managed. Alternatively, you can also use an Average True Range (ATR) multiple to determine a different level (above breakeven) that may better suit your trading style. Henry Hub Natural Gas (NGH22) Futures (March contract, daily chart) Now, let’s zoom into the 4H chart to observe the recent price action all around the abovementioned levels of our trade plan: DHenry Hub Natural Gas (NGH22) Futures (March contract, 4H chart) That’s all folks for today. Happy trading! Like what you’ve read? Subscribe for our daily newsletter today, and you'll get 7 days of FREE access to our premium daily Oil Trading Alerts as well as our other Alerts. Sign up for the free newsletter today! Thank you. Sebastien BischeriOil & Gas Trading Strategist * * * * * The information above represents analyses and opinions of Sebastien Bischeri, & Sunshine Profits' associates only. As such, it may prove wrong and be subject to change without notice. At the time of writing, we base our opinions and analyses on facts and data sourced from respective essays and their authors. Although formed on top of careful research and reputably accurate sources, Sebastien Bischeri and his associates cannot guarantee the reported data's accuracy and thoroughness. The opinions published above neither recommend nor offer any securities transaction. Mr. Bischeri is not a Registered Securities Advisor. By reading Sebastien Bischeri’s reports you fully agree that he will not be held responsible or liable for any decisions you make regarding any information provided in these reports. Investing, trading and speculation in any financial markets may involve high risk of loss. Sebastien Bischeri, Sunshine Profits' employees, affiliates as well as their family members may have a short or long position in any securities, including those mentioned in any of the reports or essays, and may make additional purchases and/or sales of those securities without notice.

Bitcoin price gets caught in a bearish triangle as tensions in Ukraine flare up again. Ethereum price returns to pivotal support, money repatriation goes into the second day. XRP price in pennant ready for a bearish breakout under the current sentiment. Cryptocurrencies are on the back foot as investors are getting worried about the escalating situation between Ukraine and Russia, as more reports come in from shots in the Donbas region near Luhansk. As the situation does not seem to de-escalate, investors are pulling their money out of what was believed to be the start of a solid and longer-term relief rally that is stalling at the moment. With more downside pressure to come, expect all significant cryptocurrencies to fall back to supportive pivotal levels. Bitcoin price falls into a bearish triangle, set to dip back below $40,000 Bitcoin (BTC) price is getting battered on Thursday after a fade on Wednesday that could still be attributed to some short-term profit-taking. The extension of the falls seems to confirm that sentiment is yet again dipping below zero towards risk-off. Investors pulling out their funds preemptively is reflected with the sharp decline in the Relative Strength Index, where the sell-side demand is outpacing the buy-side demand. In this context, Bitcoin price will remain under pressure for the rest of the week and could be set to slip below $40,000 in the coming days as the situation in Ukraine is set to deteriorate again, potentially inflicting further damage to the market mood. BTC price sees bulls unable to hold price action above $44,088 and in the process is forming a descending trend line that, together with the base at $41,756, is forming a bearish triangle. Expect Bitcoin valuation to decline further as the tensions around Luhansk increase by the hour. Once the $41,756 support is broken, the road is open for a nosedive towards $39,780 with the $40,000 psychological level broken yet again to the downside. BTC/USD daily chart A hail mary could be provided by the 55-day Simple Moving Average at $42,340, which already provided support on February 9 and February 15. With that move, a sudden breakthrough in the peace talks could become the needed catalyst to improve the situation and dislocate Bitcoin price action from the drag of the geopolitical news that is weighing. Bitcoin would see the demand on the buy-side blow up and see a big pop above $44,088. Ethereum bulls are breaking their jaws on the 55-day SMA as the price fades further Ethereum (ETH) price is getting crushed against the 55-day Simple Moving Average (SMA) around $3,143, with bulls unfit to push and try to close price action above it. After three failed attempts in a row, it is becoming clear that the bullish support is wearing thin as, on Tuesday, the daily candle closed above there, and even if the next day ETH price opened above again, it closed below the 55-day SMA. On Wednesday, finally, both the open and the closing price were below the 55-day SMA. This proves that sentiment has shifted in just three trading days and looks set to fade further away from the 55-day SMA on Friday. Expect going forward in the next coming hours that bulls will get squeezed against the wall at $3,018 with both a pivotal level and the $3,000 marker a few dollars below there. As tensions mount, expect some more negative headlines, a breach in defense of the bulls with even the monthly pivot at $2,929 getting involved in the crosshairs. Depending on the severity and the further deterioration of the political situation in Ukraine and the correction in the stock markets, it is possible to see a nosedive towards $2,695. ETH/USD daily chart Global market sentiment is hanging on the lips of Ukraine and the geopolitical situation. With that, it is clear that once the situation gets resolved or de-escalates, markets can shift 180 degrees in a matter of seconds. That same rule applies to cryptocurrencies where Ethereum could pop back above the 55-day SMA and even set sail for $3,391, breaking the high of February and flirting with new highs for 2022. Bulls joining the rally will want to keep a close eye and be mindful of the RSI, as that would start to flirt with being overbought and, from there on, limiting any further big moves in the hours or next trading days to come. Ethereum short squeeze could trigger a spike to $4,000 XRP price set to lose 10% of market value as headline news breaks down relief rally Ripple (XRP) price is stuck in a pennant and is close to a breakout that looks set to be a bearish one. As global markets are continuing the fade from Wednesday, XRP price is breaking below the recent low and sees bears hammering down on the ascending side of the pennant. As more negative headlines cross the wires, expect this to add ammunition for bears to continue and start breaking the pennant to the downside. XRP price will look for support on the next support at hand, which comes in at $0.78, and depending on the severity of the news flow, that level should hold again as it did on February 14. If that is not the caseany further downside will be cut short by the double bottom around $0.75 from February 12 and 13 and the 55-day SMA coming in at or around that area. With that move, the RSI will be triggering some "oversold" red flags and see bears booking profit. XRP/USD daily chart A false bearish breakout could easily see bears trapped on entering on the break to the downside out of the pennant as bulls go in for the squeeze. That would mean that price shoots up towards $0.88 and takes out this week's high. Bears would be forced to change sides and join the buy-side demand to close their losing positions, adding to even more demand and possibly hitting $0.90 in the process. XRP set to explode towards $1.00, bulls hopeful over SEC vs Ripple case

While the reality is hopefully not quite that bad, as Traders and Investors, we need to consider our silent partner, the "Taxman," and how to minimize his cut of our profits. Having a "tax problem" can be a good "problem" to have. But we're not obligated to pay any more in taxes than tax laws and regulations in our jurisdiction require. As George Harrison of the Beatles famously penned… “Let me tell you how it will beThere's one for you, nineteen for me'Cause I'm the taxmanYeah, I'm the taxman” Are there strategies we can use to significantly reduce our tax bill, even to as low as $0? You bet! Before we dive in, here are a few caveats… We're not tax advisors. You absolutely should review any taxation questions, strategies, or issues with a tax professional that is well-versed in your tax jurisdiction and familiar with your circumstances. Much of the following pertains to those in the USA. But there's some information here that may be useful to those outside the USA as well. Sign up for my free trading newsletter so you don’t miss the next opportunity! Tax strategies can range from simple to complex. Some have rock-solid legal standing, while some of the more aggressive strategies may invite unwelcome scrutiny from tax authorities. Personally, I prefer simple strategies that are easy to maintain and not subject to “debate” with the IRS. Lastly, laws and tax codes are subject to change. You need to continually educate yourself and have a good tax advisor to stay on top of any changes. Traders Tax-Free Accounts PayPal Founder Peter Thiel famously used the Roth IRA to turn a small investment in Founder’s shares into more than $5 billion tax-free. Google it. It’s a fantastic testimony to the power of the Roth IRA. Hands-down, the Roth IRA (first created in 1997) is a simple and powerful tool for legally avoiding taxes. Why? Because any gains in the account are not taxed. Not now, not ever! Reporting individual trades on your tax return in a Roth IRA is super simple. Why? Because none is required! Maintenance and reporting for a Roth IRA couldn’t be easier. The tradeoff is that - like a Regular IRA - you generally cannot withdraw funds tax-free until age 59 ½. (There are ways around that with a 72t Plan, for example.) And contributions to a Roth IRA are not tax-deductible like they are with a Regular IRA. If you have Earned Income in the United States, you should seriously consider maximizing contributions to a Roth IRA. Even if you currently don’t have Earned Income, but you have a regular IRA, there are ways to convert all or part of those funds into a Roth IRA should you choose to do so. Typically, you’d have to pay taxes on the converted funds. But once that’s done, the taxes are paid in full. This is commonly known as the “Backdoor Roth IRA,” which is also a way around the income-based annual contribution limits for a Roth. Tax-Deferred Accounts Second-best to the Roth IRA is a Regular IRA. Contributions are tax-deductible in the year made. Capital gains in the account are not taxed until funds are withdrawn. Distributions after age 59 ½ are taxed as regular income when they are made. It used to be that the investment vehicles and strategies that could be used in both Regular and Roth IRAs were somewhat limited. Now there is an extensive range of asset classes and strategies permitted. For example, as an options trader, almost any defined risk strategy is permissible in either a Regular or Roth IRA at most options brokers. Special Tax Treatment Section 1256 contracts were created to eliminate a tax avoidance where contracts were sold near year-end to show a loss, and like-kind were repurchased in the following tax year. Section 1256 contract rules were created to require “marked-to-market” at year-end whether the contracts are sold or not. The big side benefit of Section 1256 contracts is the 60/40 tax treatment, where 60% of gains are treated as long-term capital gains and taxed at a lower rate. The other 40% are treated as short-term capital gains and taxed as ordinary income. If you’re trading in a taxable account, it can be very beneficial to choose Section 1256 contracts where those happen to fit into your strategy. Section 1256 contracts include futures, options on futures, and certain indexes like SPX and VIX and options on those indexes. Be sure to verify Section 1256 treatment and report with your broker and tax advisor. State Taxes An additional layer of the tax burden is at the state level. One way to avoid that is to live in one of the states with no income tax for individuals. These are Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming. You generally must file a federal tax return in those states. Keep in mind that the “tax-free” states tend to have higher excise, sales, and property taxes. You should consider your overall tax burden and affordability ranking if you’re thinking about moving to one of those states. Some traders live in multiple states and claim their “residency” in a tax-free state. That can get a little tricky as rules and enforcement will vary. You’ll need to keep good records of your time spent in the tax-free state and be sure to comply with all regulations for both states. Tax Splitting Regardless of where you live, it can be possible, legal, and common to create a separate entity, such as a C Corporation, that is domiciled in a tax-free state such as Nevada. Instead of capital gains bumping you into a higher marginal tax bracket as an individual, you could “tax split” and have the entity pay taxes on its gains at a lower Federal level and with no state taxes due. Typically, there are tax implications in your home state if you take income out of the entity for your use as an individual. But be aware that you can create and control a separate entity from yourself that has its own P/L for taxation purposes and that can reduce the overall tax burden. Summary Roth IRA.  If it’s available to you, think about maximizing it.  Outside of that, consider tax-deferred accounts, Section 1256, income splitting, and tax-free residency strategies as may be advantageous to your situation. Now That You Know About Lessening Your Tax Burden, Read On To Learn More About Options Trading Every day on Options Trading Signals, we do defined risk trades that protect us from black swan events 24/7. Many may think that is what stop losses are for. Well, remember the markets are only open about 1/3 of the hours in a day. Therefore, a stop loss only protects you for 1/3 of each day. Stocks can gap up or down. With options, you are always protected because we do defined risk in a spread. We cover with multiple legs, which are always on once you own.    If you are new to trading or have been trading stock but are interested in options, you can find more information at The Technical Traders – Options Trading Signals Service. The head Options Trading Specialist Brian Benson, who has been trading options for almost 20 years, sends out real live trade alerts on actual trades, such as TSLA and NVDA, with real money. Ready to subscribe, click here:  TheTechnicalTraders.com. Enjoy your day!

  Not only won’t inflation end soon, it’s likely to remain high. Whether gold will be able to take advantage of it will depend, among others, on the Fed. Do you sometimes ask yourself when this will all end? I don’t mean the universe, nor our lives, nor even this year (c’mon, guys, it has just started!). I mean, of course, inflation. If only you weren’t in a coma last year, you would have probably noticed that prices had been surging recently. For instance, America finished the year with a shocking CPI annual rate of 7.1%, the highest since June 1982, as the chart below shows. Now, the key question is how much higher inflation could rise, or how persistent it could be. The consensus is that we will see a peak this year and subsequent cooling down, but to still elevated levels. This is the view I also hold. However, would I bet my collection of precious metals on it? I don’t know, as inflation could surprise us again, just as it did to most of the economists (but not me) last year. The risk is clearly to the upside. As always in economics, it’s a matter of supply and demand. There is even a joke that all you need to turn a parrot into an economist is to teach it to say ‘supply’ and ‘demand’. Funny, huh? When it comes to the demand side, both the money supply growth and the evolution of personal saving rate implies some cooling down of inflation rate. Please take a look at the chart below. As you can see, the broad money supply peaked in February 2021. Assuming a one-year lag between the money supply and price level, inflation rate should reach its peak somewhere in the first quarter of this year. There is one important caveat here: the pace of money supply growth has not returned to the pre-pandemic level, but it stabilized at about 13%, double the rate seen at the end of 2019. Inflation was then more or less at the Fed’s target of 2%, so without constraining money supply growth, the US central bank couldn’t beat inflation. As the chart above also shows, the personal saving rate has returned to the pre-pandemic level of 7-8%. It means that the bulk of pent-up demand has already materialized, which should also help to ease inflation in the future. However, not all of the ‘forced savings’ have already entered the market. Thus, personal consumption expenditures are likely to be elevated for some time, contributing to boosted inflation. Regarding supply factors, although some bottlenecks have eased, the disruptions have not been fully resolved. The spread of the Omicron variant of the coronavirus and regional lockdowns in China could prolong the imbalances between booming demand and constrained supply. Other contributors to high inflation are rising producer prices, increasing house prices and rents, strong inflation expectations (see the chart below), and labor shortages combined with fast wage growth. The bottom line is that, all things considered – in particular high level of demand, continued supply issues, and de-anchored inflation expectations – I forecast another year of elevated inflation, but probably not as high as in 2021. After reaching a peak in a few months, the inflation rate could ease to, let’s say, around 4% in December, if we are lucky. Importantly, the moderate bond yields also suggest that inflation will ease somewhat later in 2022. What does it mean for the gold market? Well, I don’t have good news for the gold bulls. Gold loves high and accelerating inflation the most. Indeed, as the chart below shows, gold peaks coincided historically with inflation heights. The most famous example is the inflation peak in early 1980, when gold ended its impressive rally and entered into a long bearish trend. The 2011 top also happened around the local inflationary peak. The only exception was the 2005 peak in inflation, when gold didn’t care and continued its bullish trend. However, this was partially possible thanks to the decline in the US dollar, which seems unlikely to repeat in the current macroeconomic environment, in which the Fed is clearly more hawkish than the ECB or other major central banks. The relatively strong greenback won’t help gold shine. Surely, disinflation may turn out to be transitory and inflation may increase again several months later. Lower inflation implies a less aggressive Fed, which should be supportive of gold prices. However, investors should remember that the US central bank will normalize its monetary policy no matter the inflation rate. Since the Great Recession, inflation has been moderate, but the Fed has tightened its stance eventually, nevertheless. Hence, gold may experience a harsh moment when inflation peaks. Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today! Arkadiusz Sieron, PhDSunshine Profits: Effective Investment through Diligence & Care.

Gold hit fresh multi-month highs near the $1,910 on Monday but has since dropped back under the $1,900 handle. Geopolitics remains the wildcard that could stoke surprise volatility in either a bullish or bearish direction. Spot gold (XAU/USD) prices hit fresh multi-month highs near $1,910 on Monday during Asia Pacific session, but have again failed to hold north of the $1,900 handle. In recent trade, the precious metal has been caught going sideways in the mid-$1,890s, with the prospect for a fresh push higher again on Monday limited by the lack of market volume stateside. US markets are shut on Monday for Presidents Day so it is likely to be a very quiet US session. Geopolitics remains the wildcard that could stoke surprise volatility in either a bullish or bearish direction. The Russian rouble has been coming under significant pressure on Monday, indicative of rising fears of a Russian invasion/military incursion into Ukraine that would trigger a round of sanctions from Western countries against Moscow. Violence between pro-Russia separatists and Ukraine’s military in the contested Donbass region continued on Monday, the former group upping the inflammatory rhetoric by accusing Ukraine’s military of shelling and planning a full-scale assault. This is keeping gold underpinned close to recent highs. At current levels in the mid-$1,890s, the precious metal trades close to flat on the day and only about 0.75% below earlier session highs. One bearish risk to note for gold is whether a summit between Russian President Vladimir Putin and US President Joe Biden goes ahead this week following recent chatter. The meeting could be a good opportunity to ease tensions somewhat. Otherwise, US data and Fed speak will be worth watching, but will, for the most part, still play second fiddle to the Ukraine crisis.

After hitting fresh multi-month highs at $1914, spot gold is consolidating above $1900 as the Russia/Ukraine crisis escalates.As traders worry about the rising risk of a full-scale Russian military incursion into Ukraine, gold will likely remain supported.As the Russia/Ukraine crisis continues to escalate, most recently with Russia recognising the independence of and moving troops into two separatist regions in eastern Ukraine, prompting NATO nations to announce/prepare new sanctions on Russia, gold has moved back above $1900. Spot prices (XAU/USD) hit fresh multi-month highs at $1914 on Tuesday and, though pulling back from these highs printed during Asia pacific trade as dip-buying facilitating an intra-day rebound in global equities markets, has remained above the key $1900 level.With market participants nervous that Russia/pro-Russia separatists in Eastern Ukraine could initiate further hostilities against Ukraine, thus further escalating the risk of an all-out Ukraine/Russia conflict, gold is likely to remain well underpinned this week. Brent oil spiked to close to $100 per barrel on Tuesday and EU natural gas prices were up sharply as Germany pledged not to approve the Nord Stream 2 pipeline that would bring gas directly to Germany from Russia. The upside risks posed to global inflation from any continued spike in energy prices as a result of further Russia/Ukraine crisis escalation is likely boosting demand for gold as an inflation hedge.Recent Fed speak and US data releases have not had much of an impact on gold in recent days as price action takes its cue from geopolitics. Hawkish commentary from Fed’s Michelle Bowman on Monday, who essentially said she was still undecided as the whether the Fed should hike rates by 25 or 50bps in March, was roundly shrugged off. That suggests that other Fed speak this week is also likely to be ignored, or, at least, play second fiddle, with this also likely the case for Friday’s January US Core PCE inflation data. Ahead of that, traders should keep an eye on upcoming US PMI and CB Consumer Confidence surveys, both the flash readings for February.

Today the worst-case scenario happened, Russia invaded Ukraine. This set off another round of heavy selling on the Crypto markets. The top 10 suffered badly with just over 11% taken off their value at the day’s low. Ethereum was one of the worst-hit in the top 10, price plunged just over 12% to its new low. Currently, we’re watching the 2,350 support as this level did show plenty of demand back in January on the last key low set by sellers. Price so far, for now, has continued to see some demand at this point but let’s be honest these are not normal times. Crypto at this point is far from an alternative store of wealth. Coins are not in a safe-haven class at the moment, they’re flat out risk assets and are being treated that way. Gold on the other hand has resumed its safe-haven status. This is not a knock or attack on Crypto just the reality of the situation. Back to the Ethereum d1 chart. While I’d love to back in the current support level it’s hard under the current circumstances. Escalations could send prices lower and a break of support could set up a move back to the Jan low and a move through that point could suggest 2,000. If support can hold and things in Europe start to stabilize a little we could see a recovery rally. We will be looking for long tails showing exhaustion and fresh demand emerging. But we stress any longs will need to be quick-thinking if sellers return en masse. Ethereum D1 (ETHUSD) The post Crypto Update: Ethereum returns to support after a horror day appeared first on Eightcap.

Bitcoin price drops 7% on geopolitical news but is close to offering a nice entry-level. Ethereum price deteriorates 10% for the day and still has 7% to go before some solid support is present. XRP price sees early price bounce-off but might be too soon as better entry levels are present further down the line. Cryptocurrencies are waking up to a shocker this morning as the whole Eastern border of Ukraine is under siege of missile attacks by Russia and Belarus. This afternoon, NATO and the EU are scrambling for emergency meetings to further retaliate with sanctions cutting off Russia entirely from the financial system. In the meantime, investors are hoarding cash and pulling out their money into safe havens, but in the process, offering some lovely entry levels for the longer term. Bitcoin price breaks below $36,709 and looks to test support at $32,650, below $33,000 The Bitcoin (BTC) price got slaughtered this morning as the Russian offensive started in early trading hours, shedding 7% of its market value. As it is looking for support, it will be vital for market participants to await the right time to execute any trades. It is too late now for both bears and bulls to get in as markets will or could go either way, and both parties are better off waiting for the right entry-level. BTC price will favour bulls with an entry below the $34,000 key-level as above, for now, no actual entry points are offered. At $32,650, a solid entry-level is offered, going back to June 25. With this, BTC price would need to shed another 5% on top of the 7% it has already lost in early morning trading. Expect this to unfold once the US sessions kicks in and further deterioration of asset prices happens across the board. BTC/USD daily chart Should Putin step up military action, expect to see further deterioration of price action in several asset classes, certainly when civilian casualties are reported. Expect $32,650 to be breached and see BTC further deepen its losses towards $31,322. Following that, the famous distribution zone will have been entered, and short-term bulls and long-term investors will be buying up bits and pieces of the price action for a rebound once the situation stabilises. Ethereum bulls should open up their wallets as price action is set to offer some great entry points Ethereum (ETH) price is nearing some interesting levels as price action dips to the downside in an accelerated move as Russian troops are attacking several important cities in Ukraine. Whilst Europe tries to deal with the situation, more reports have come in of several critical Ukrainian military installations being fired upon by missiles and mortars. Putin proclaimed conducting a military surgical operation to demilitarise the country and succeed. ETH price gets under pressure as investors hoard cash and kick out any risky asset in the process, as Ethereum already lost 10% in early morning trading. Expect more downside to come towards $2,148, losing 18% of its value in the process. At the same time, this is an excellent window of opportunity for investors to buy ETH coins at a very lucrative discount once the situation stabilises. ETH/USD daily chart As this story develops further into the trading day, expect to see a deterioration of ETH price action towards $1,928 or even $1,688 – breaching $2,000, should more reports come in from Russian troops entering mainland Ukraine and taking over control of key cities. That would mean that ETH is set to lose another 17% to 25% in the process as the US session will be expected to deepen the loss intraday. In the meantime, Ethereum price action has entered a distribution zone, offering an excellent opportunity for investors to start building a stake in for any upside potential to come. XRP price is at risk of losing another 25% as first support is being tested Ripple's (XRP) price sees an initial bounce off the $0.6264 level this morning as Europe awakes to some severe military threats spilling over into global markets with risk assets being slashed across the board. XRP price action already shredded 10% at the time of writing and is seen bouncing off technically and recovering back to more moderate levels – but still holding heavy losses. As the situation further develops, expect cryptocurrencies to react instantly in both directions as more headlines and news hit the wires today. Expect $0.6264 not to withstand further selling pressure since the situation remains fragile. As possible combat headlines start to accelerate, expect to see another dip lower in XRP to $0.5852 or even $0.5231, adding another 6% to 16% of losses to the price action. With this, the Relative Strength Index will be diving deeply into oversold territory, making this area an excellent entry level for investors going long once the situation dies down and the market falls back to a more normal level. XRP/USD daily chart In the worst case, XRP could dip below $0.50 and tick $0.48 in the process, the lowest level since June 2021. Depending on the situation expect to see bulls either waiting and holding, or taking the bounce off the historic $0.48 level and the monthly S1 support level, which they may use as a point of entry for going long if the situation calms down in the near future.

What a week, from crashing lows that started to point towards extensions in current medium-term downtrends to a late-week save that really came out of nowhere and looks to be telling us that price may have hit exhaustion lows? The week started OK for most of the top 10 and 25 as prices tested higher but failed to get real traction happening. Then this week’s crisis hit. First, we saw Russia pledge support to the two breakaway parts of Ukraine that claimed independence from the Ukrainian government. Russia was quick to recognise and send in peacekeeping troops that many saw as a proxy invasion. Crypto fell on these developments, but worse was yet to come. Wednesday buying was cut short as cyber attacks hit Ukraine and Europe, but Thursday lunchtime AEDT, the unthinkable had happened, Russia had launched a ground and air assault on Ukraine. As you would expect, coins were savaged, and at one stage, it looked like Armageddon had hit the crypto world. While we saw multiple coins plunge by over 10% in stages of the day, (ETH -12%, AVAX -15%, SHIB -18%), some bucked the sell-off and actually soared off the uncertainty. We suggest anyone interested by this may want to take a look at PAX. On the day of the invasion, PAXUSD jumped by 6%, hitting 2029. In a week, which showed us that while most cryptos remain in the risk basket, PAX could be a safe-haven coin of the group. Thursday’s drama didn’t end there marketwise either. Late into the NY session, buyers charged back into the market. Price not only pulled back losses, but many coins also finished the day higher. This capped off one of the most volatile sessions we have seen this year. For example, ETH finished the day with a 15% range, and SOL was close to 20% in its daily range. This week we want to focus on another stronger coin. LUNA so far has seen a great week despite the geopolitical crisis that continues in Europe. Price has added over 20%, trading back above 65. Technically there’s a bit to like about LUNA, we can see resistance becoming support with a new higher low and this week, buyers have broken out of the range and beaten the medium to a long-term downtrend. Definitely, one to keep an eye on as we head into a new week and fresh opportunities of increased volatility. The post Your Crypto Focus: 26th February – 4th March appeared first on Eightcap.

Bitcoin doing very little after holding 300 pips above my next target of 34000. Ripple trying a break above 7270/7370 for a buy signal targeting 7740/7800. Ethereum tests resistance at 2790/2810. Shorts need stops above 2870. A break higher is a buy signal. Update daily at 07:00 GMT Today's Analysis Bitcoin beat first resistance at 36300/400 to test second resistance at 39400/450 but struggling here. Bulls need a break above 40000 to target the 500 day moving average at 42000/200. Unlikely but if we continue higher look for strong resistance at 44100/400. Holding second resistance at 39400/450 targets 38000/37800. If we continue lower look for 36400/36000 & probably as far as 34400/34000. Do not be surprised to see a test of very strong support at 100 week moving average at 33000/800 (today's value). Ripple unexpectedly beat strong resistance at 7270/7370 for a buy signal targeting 7740/7800. If we continue higher look for quite strong resistance at 8000/8100. Shorts need stops above 8200 for a buy signal. Minor support at 7300/7280 but below here can target targets 7090/70, perhaps as far as support at 6890/6870. Ethereum runs as far as resistance at 2790/2810. A high for the weekend possible here but shorts need stops above 2870. A break higher is a buy signal targeting 2900/2920 & probably resistance at 3025/55. Strong support from 2660 down to 2560 should now hold the downside. To subscribe to this report please visit daytradeideas.co.uk or email jason@daytradeideas.co.uk No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

S&P 500 didn‘t correct much intraday, and the risk-on turn has continued unabated with value pulling ahead sharply – unlike the day before when the revesal came about because of tech. The dust is settling in the market‘s mind, VIX has indeed moved and the dollar weakened noticeably. That was the subject of Friday‘s analysis – the disappearing safe haven premium over many assets such as gold, crude oil and Treasuries (Treasuries though kept their cool the most, not losing the focus on Fed‘s tightening). Risk-on appetite returned to stocks with a vengeance, and market breadth has significantly improved – within the context of the ongoing correction, must be said. While we made local lows on Thursday after all, the upside momentum is likely to slow down next – this week would bring a consolidation within a very headline sensitive environment. It‘s looking good for the bulls at the moment – till the dynamic of events beyond markets changes. Inflation isn‘t wavering, and I‘m not looking for its meaningful deceleration given the events since Thursday, no. Friday is likely to mark a buying opportunity beyond oil and copper – these longs have very good prospects. Another part of the S&P 500 upswing explanation were the still fine fresh orders data – while the real economy has noticeably decelerated (and Q1 GDP growth would be underwhelming), solid figures would return in the latter quarters of 2022. That‘s also behind the gold downswing on Friday, which hadn‘t been confirmed by the miners – the very bright future ahead for precious metals is undisputable. And the same goes for crude oil as oil stocks foretell – the fresh long crude trade together with long S&P 500 one, are both solidly in the black already.. Let‘s move right into the charts (all courtesy of www.stockcharts.com). S&P 500 and Nasdaq Outlook Sharp S&P 500 upswing on solid volume – the gains can continue but their pace would slow down. Negative sentiment is departing stocks as the existing bad news has been priced in. The pendulum is swinging the other way now. Credit Markets HYG is confirming the stock market upswing, but bonds are remaining more cautious overall – it‘s that the focus would shift over the coming 2 weeks again to the Fed. The yield spread keeps compressing and the 2-year bond didn‘t stop pressuring the Fed. Gold, Silver and Miners Precious metals have corrected a little but the upswing goes on – GDX performance is a good omen. The decline in prices wasn‘t sold heavily into anyway – we‘re still moving higher next as the rate raising cycle start is soon here. Crude Oil Crude oil bears are totally unconvincing, proving that the prior price upswing was about way more than geopolitical uncertainty – the chart remains strongly bullish, and we have higher to run still. Copper Copper upswing is indeed taking time to develop, but commodities strength remains in spite of the daily setback, which just illustrates the risk-on euphoria in stocks. The commodities upleg hasn‘t run its course, and the red metal would join in. Bitcoin and Ethereum Cryptos are refusing to extend Sunday‘s decline – while the worst appears to be over, the short-term direction can turn out in both directions. I‘m though slightlly favoring the bulls. Summary S&P 500 turnaround continues, and price gains are frontrunning the events on the ground. The upswing is vulnerable – to a consolidation at most as a full reversal would require fresh setbacks, including in Asia. Risk-on trades have the momentum, and credit markets agree. It certainly looks like a good time to take advantage of the precious metals and commodities discounts as momentary optimism in the markets that has nothing to do with the progress on inflation. Further, we‘re still in the real economy slowdown phase, and the Fed hasn‘t even started hiking yet. Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

The main question that ruble traders ask themselves is whether the Central Bank managed to prevent a collapse in the exchange rate? At the moment, the euro is officially worth 104.4, and the dollar is 93.5.According to a leading analyst at FxPro, the ruble is recovering from the second shock wave that hit on Monday, when the Central Bank was unable to use foreign exchange reserves to stabilize the exchange rate. The dollar and the euro declined somewhat, but these levels still can hardly be called sustainable. An increase in the interest rate has a relatively long-term effect, while a liquidity crisis affects quotes "here and now".A steady reversal to growth in the Russian currency should be expected no earlier than when we receive reliable signals from the EU and the US. Until then, downward impulses may alternate with relatively short pullback periods. In our opinion, some stabilization of the exchange rate may occur in the range of 100-110 since this is a low enough level for traders to start picking up the ruble in the short term. Of course, this is only if we exclude the scenario of further tightening of sanctions.There is another issue that worries the consumers who are now in Russia. We are talking, among other things, about foreign citizens who came to Russia to do business or for personal reasons. Many of them have free balances in the region of 100 thousand rubbles in their bank accounts. As a rule, businesspeople short-term invest capital or acquire their own currency. The question arises of what to do with this capital now.In our opinion, it is better to save free money for force majeure, since in the current circumstances, it is worth increasing the capital and abandoning all unplanned purchases. If you are in Russia, then it is better to keep your savings in rubbles since it is not profitable to buy currency in banks now, as the exchange rate difference is too large.Of course, in the coming weeks and months, equipment, and all imported goods in the territory of the Russian Federation will rise in price significantly. At the same time, the value of cash soon may manifest itself more than ever. This is confirmed by queues at ATMs and multiple increases in cash in the hands of Russians.Many right now are looking towards buying a new car from a showroom with the prospect of selling it in a few months at a higher price (considering the sanctions).If your capital is even larger, it perhaps remains only to wait since the withdrawal to foreign accounts is limited. Thus, Russian residents will not be able to credit foreign currency to their accounts and deposits in foreign banks and brokers. The ban takes effect today.

S&P 500 erased opening downside, not unexpectedly. Markets say we‘ve turned the corner, and while the medium-term correction isn‘t over, we‘re going higher for now. The tired performance in credit markets suggests that the pace of the upswing would indeed likely slow, but the dips are being bought – even the 4,300 overnight level held unchallenged.VIX is slowly calming down, and it wouldn‘t be a one-way ride. I hate to say it, but we‘re trading closer to the more complacent end of the volatility spectrum – that‘s though in line with my assumption of toned down price appreciation expectations that I discussed on Sunday and yesterday:(…) While we made local lows on Thursday after all, the upside momentum is likely to slow down next – this week would bring a consolidation within a very headline sensitive environment. It‘s looking good for the bulls at the moment – till the dynamic of events beyond markets changes.Inflation isn‘t wavering, and I‘m not looking for its meaningful deceleration given the events since Thursday, no. Friday is likely to mark a buying opportunity beyond oil and copper – these longs have very good prospects. Another part of the S&P 500 upswing explanation were the still fine fresh orders data – while the real economy has noticeably decelerated (and Q1 GDP growth would be underwhelming), solid figures would return in the latter quarters of 2022. That‘s also behind the gold downswing on Friday, which hadn‘t been confirmed by the miners – the very bright future ahead for precious metals is undisputable. And the same goes for crude oil as oil stocks foretell – the fresh long crude trade together with long S&P 500 one, are both solidly in the black already.Precious metals have found a floor, and aren‘t selling off either. In fact, they are looking at a great week ahead, and the same goes for crude oil followed to a lesser degree by copper. Weekend developments on the financial front triggered a rush into cryptos, and the bullish prospects I presented yesterday, are coming to fruition.Let‘s move right into the charts (all courtesy of www.stockcharts.com).S&P 500 and Nasdaq OutlookDaily S&P 500 consolidation as the bulls did shake off the opening setback rather easily – and the same goes for the late session trip approaching 4,310s. Expecting more volatility of the current flavor, and higher prices then.Credit MarketsHYG managed to close above Friday‘s values, and the overall bond market strength bodes well for risk appetite ahead. Let‘s consolidate first, and march higher later.Gold, Silver and MinersPrecious metals are consolidating the high ground gained, miners aren‘t yielding, and silver weakness yesterday actually bodes well for the very short term. Launching pad before the next upleg.Crude OilCrude oil bears have a hard time from keeping black gold below $100. The table is clearly set for further gains – the chart can be hardly more bullish.CopperCopper is a laggard, but will still participate in the upswing. Its current underperformance as highlighten by yesterday‘s downswing, is a bit too odd, i.e. bound to be reversed.Bitcoin and EthereumCrypto bulls were indeed the stronger party, and similarly to gold, it‘s hard to imagine a deep dive coming to frution. I‘m looking for the safety trade to be be ebbing and flowing, now with some crypto participation sprinkled on top.SummaryS&P 500 turnaround goes on, and we‘re undergoing a consolidation that‘s as calm as can be given the recent volatility. Credit markets and the dollar though continue favoring the paper asset bulls now, but their gains would pale in comparison with select commodities such as oil and gold‘s newfound floor. Even agrifoods look to be sold down a bit too hard, and I‘m not looking for them to be languishing next as much as they have been over the last two trading days. Cryptos upswing highlights the present global uncertainties faced – as I have written on Thursday that the world has changed, the same applies for weekend banking events being reflected in the markets yesterday.Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

Economic Calendar by FXMAG.COM - 02/03/2022 Europeans may stay awake as shortly after midnight Australian GDP (QoQ) (Q4) is going to be announced. The previous indicator hit -1.9% Heading to Europe – at 8:55 a.m. we get to know German Unemployment Change (February) which previously reached -48K. About one hour later Europeans will be provided with the CPI indicator wondering whether it will go back from the level of 5.1% According to Investing.com, we can expect that British Annual Budget Release will be known tomorrow and what we’re sure of, there are many events to watch in the United States. Even if we don’t care about ADP Nonfarm Employment Change which will be released at 1:15 p.m., many will follow the testimony of Fed’s Jerome Powell at 3 p.m. followed by Crude Oil Inventories (prev. 4.515M) to be released half an hour later. In Canada, at 3 p.m. Bank of Canada will release its Interest Rate Decision. The previous Interest Rate was 0.25% Wednesday (2nd March) is a day free for Brazilians, so don’t expect any news coming from this country in LATAM. Time: GMT Data: Investing.com

  Kherson fell, but Ukrainians are still fighting fiercely. In the face of war, gold also shows courage – to move steadily up. The battle of Ukraine is still going on. Russian troops took control of Kherson, a city of about 300,000 in the south of Ukraine, but other main cities haven’t been captured yet. Ukrainian soldiers even managed to conduct some counter-offensive actions near the country’s capital. There is a large Russian column advancing on Kyiv, but its progress has been very slow over the last few days due to the staunch Ukrainian resistance and Russian forces’ problems with equipment, tactics, and supplies, including fuel and food. David is still bravely fighting Goliath! Of course, Russian forces still have an advantage and are progressing. However, the pace of the invasion is much slower than Vladimir Putin and his generals expected. The Ukrainians’ defense is much fiercer, while Russia’s losses are more severe. The Russian defense ministry admitted that 498 Russian soldiers have already been killed and 1,597 wounded, but the real number is probably much higher. Even if Russia takes control of other cities, it’s unclear whether it will be able to hold them. What’s more, although the West didn’t engage directly in the war, the response of the West was much stronger than Putin could probably have expected. The US and its allies supplied Ukraine with weapons and imposed severe sanctions against Putin and the Russian governing elite, as well as on Russia’s economy and financial system. For instance, the West decided to exclude several Russian banks from SWIFT and also to freeze most of Russian central bank’s foreign currency reserve assets. Additionally, many international companies are moving out of Russia or exporting their products to this country, adding to the economic pressure. The ruble plummeted, as the chart below shows.   Implications for Gold What does the ongoing war in Ukraine mean for the precious metals market? Well, the continuous heroic stance of President Volodymyr Zelenskyy and Ukrainian defenders is not only heating up the hearts of all freedom-lovers, but also gold prices. As the chart below shows, the price of the yellow metal has soared to about $1,930, the highest level since January 2021. As a reminder, until recently, gold was unable to surpass $1,800. Thus, the recent rally is noteworthy. The war is clearly boosting the safe-haven demand for gold. Another bullish driver is rising inflation. According to early estimates, euro area annual inflation soared from 5.1% in January to 5.8%, and the war is likely to add to the inflationary pressure due to rising energy prices. Both Brent and WTI oil prices have surged above $110 per barrel. Last but not least, I have to mention Powell’s appearance before Congress. In the prepared testimony, he said that the Fed would hike the federal funds rate this month, despite the war in Ukraine: Our monetary policy has been adapting to the evolving economic environment, and it will continue to do so. We have phased out our net asset purchases. With inflation well above 2 percent and a strong labor market, we expect it will be appropriate to raise the target range for the federal funds rate at our meeting later this month. This sounds rather hawkish and, thus, bearish for gold. However, Powell acknowledged that the implications of Russia’s invasion of Ukraine for the U.S. economy are highly uncertain. The near-term effects on the U.S. economy of the invasion of Ukraine, the ongoing war, the sanctions, and of events to come, remain highly uncertain. Making appropriate monetary policy in this environment requires a recognition that the economy evolves in unexpected ways. We will need to be nimble in responding to incoming data and the evolving outlook. Hence, the war in Eastern Europe could make the Fed more dovish than expected at a time when inflation could be higher than forecasted before the war outbreak. Such an environment should be bullish for the gold market. However, there is one important caveat. The detailed analysis of gold prices shows that they declined around the first and second rounds of negotiations between Russian and Ukrainian diplomats in anticipation of the end of the conflict. However, when it became apparent that the talks ended in a stalemate, gold resumed its upward move. The implication should be clear: as long as the war continues, the yellow metal may shine, but when the ceasefire or truce is agreed, we could see a correction in the gold market. It doesn’t have to be a great plunge, but a large part of the geopolitical premium will disappear. Having said that, the war may take a while. I pray that I’m wrong, but the slow progress of the Russian invasion could prompt Vladimir Putin to adopt a “whatever it takes” stance. According to some experts, he is already more emotional than usual, and when faced with the prospects of failure, he could become even more brutal or irrational. We already see that Russian troops, unable to break the Ukrainian defense in open combat, siege the cities and bomb civilians. Hence, the continuation or escalation of Russia’s military actions could provide support for gold prices. If you enjoyed today’s free gold report, we invite you to check out our premium services. We provide much more detailed fundamental analyses of the gold market in our monthly Gold Market Overview reports and we provide daily Gold & Silver Trading Alerts with clear buy and sell signals. In order to enjoy our gold analyses in their full scope, we invite you to subscribe today. If you’re not ready to subscribe yet though and are not on our gold mailing list yet, we urge you to sign up. It’s free and if you don’t like it, you can easily unsubscribe. Sign up today! Arkadiusz Sieron, PhDSunshine Profits: Effective Investment through Diligence & Care

With a sharp decline over the weekend, Bitcoin wiped out the initial gains, gave away the positions to bears after the third straight week of gains. On Saturday and Sunday, there were drawdowns to $34K on the low-liquid market. So the rate of the first cryptocurrency fell to $38K with a 3.8% loss. However, over the past 24 hours, BTC has reached $39,000 while Ethereum has lost 4.5%. Other leading altcoins from the top ten decline from 2% (XRP) to 6.8% (LUNA). According to CoinMarketCap, the total capitalization of the crypto market decreased by 3.8%, to $1.71 trillion. The bitcoin dominance index sank from 42.9% on Friday to 42.3% due to the sale of bitcoin over the weekend. The cryptocurrency fear and greed index is at 23 now, remaining in a state of "extreme fear". Looking back, in the middle of the week, the index had a moment in the neutral position. The FxPro Analyst team mentioned that the sales were triggered by reports that the BTC.com pool banned the registration of Russian users. Cryptocurrencies do not remain aloof from politics, and they are weakly confirming the role of an alternative to the banking system now, supporting EU and US sanctions against Russia, and showing their own initiative. The news appeared that Switzerland would freeze the crypto assets of the Russians who fall under the sanctions. In the second half of the week, bitcoin lost almost all the growth against the backdrop of a decline in stock indices. Although, last week started on a positive wave: BTC added almost $8,000 (21%) since previous Monday, but couldn't overcome the strong resistance of mid-February highs at around $45,000 and the 100-day moving average. Speaking about the prospects, pressure on all risky assets will continue to be exerted by the situation around Ukraine, where hostilities have been taking place for two weeks. Worth mentioning that the world-famous investor and writer Robert Kiyosaki said that the US is “destroying the dollar” and called for investing in gold and bitcoin. At the same time, the founder of the investment company SkyBridge Capital (Anthony Scaramucci) is confident that bitcoin will reach $100,000 by 2024. At the moment, he has invested about $1 billion in BTC. Plis, a group of American senators is developing a bill that opens access to the crypto market for institutional investors. And one more news to consider: the city of Lugano in Switzerland has recognized bitcoin and the leading stablecoin Tether (USDT) as legal tender.

Humanity has reached a time where you can literally create your own financial success. The Crypto metaverse has created a revolutionary impact by providing individuals with the opportunity to multiply the money that they have significantly. If you’re ready to dive into the internet of money, be sure to keep your eyes on these three goldmines: Ethereum (ETH), Ripple (XRP) & Seesaw Protocol (SSW). For millenia, institutions, democracy, banking and education have all been organised around hierarchical structures. In these hierarchies, these bureaucracies of people, all of our social relationships were organised by appeals to authority. The internet, on the other hand, brought about a change which led to us transitioning from institutions to platforms. To summarise, we use money to communicate value to one another, to express how much a product, a service, or a gesture means to us. – it’s an ancient technology. Decentralised Finance (DeFi) is a system that is completely international and borderless at the same time – and we've never had a money system like this before. It's a money system that moves at the speed of light, and is accessible to all. Firstly, a DeFi coin worth investing in is Ethereum (ETH). ETH officially launched in 2015 and managed to achieve a soaring 425% increase in value last year. Currently, it remains as the second biggest Cryptocurrency after Bitcoin (BTC). Ethereum can be used for more than just making payments – it's a marketplace of financial services, games and apps that won't steal your information or censor you. According to Coinpedia, ETH can potentially end 2022 between the value of $6,500 and $7,500 if the bullish trend that began in mid-2021 continues. Moving on, Ripple (XRP) is another noteworthy investment. XRP is a Crypto designed for business use that aims to provide a rapid and cost-effective way to move money across borders as tokens can be transferred without the use of a central middleman. Launched in 2012, Coinpedia now predicts that XRP will reach a value between $4 and $6 by 2025, which will illustrate a record level. In the past week, the price of XRP has increased by 8.69%. Furthermore, there's a good chance that market makers will continue to increase XRP’s price due to buy-stop liquidity above $0.85 and $0.91. The Game Changer Lastly, a coin that is highly recommended is Seesaw Protocol (SSW). SSW is a Fully Decentralised and Multi-Chain DeFi Platform that can be used for everyday transactions. The Seesaw Protocol (SSW) token can be swapped across several chains with a commission of less than 1%. Therefore, allowing all users to greatly benefit from this. In addition, users will be able to receive up to 5% pre-sale referral bonuses. Within the last month, the price of its value has increased by an incredible figure of 2000% and reached a spurt of 32% in the last 7 days alone. If you’re yet to invest, don’t worry as it’s not too late, because although we’re passing through pre-sale Phase 2, it’s still early to hop on board and invest in SSW – since it’s still in pre-sale! Investing early, even with a little initial commitment, can yield remarkable benefits. So now is an excellent time to purchase SSW tokens to receive the rewards the token could bring. Furthermore, experts estimate that by the end of the Pre-Sale in April this year, the price of Seesaw Protocol (SSW) will have risen from $0.11 to $0.40-0.45 – illustrating an outstanding expansion of 7000%! Thus far, it is logical for one to conclude that the value of SSW can only grow from here as it has already reached astonishing levels during pre-sale. Overall, the internet of money symbolises a technological innovation that many people fear because it involves such a fundamental change in money. However, it should be perceived with an optimistic approach as DeFi bridges the divide between those who are fortunate enough to have financial privileges and those who do not – there are no entry requirements to join the world of Crypto. Start creating your own financial success by investing in the rising star SSW, receive the bundle of benefits and watch the figures continue to boom. Enter Presale: https://presale.seesawprotocol.io/register Website: https://seesawprotocol.io/ Telegram: https://t.me/SEESAWPROTOCOL Twitter: https://twitter.com/SEESAWPROTOCOL Instagram: https://www.instagram.com/seesaw.protocol

  Russian forces have made minimal progress against Ukraine in recent days. Unlike the invader, gold rallied very quickly and achieved its long-awaited target - $2000! Nobody expected the Russian inquisition! Nobody expected such a fierce Ukrainian defense, either. Of course, the situation is still very dramatic. Russian troops continued their offensive and – although the pace slowed down considerably – they managed to make some progress, especially in southern Ukraine, by bolstering air defense and supplies. The invaders are probably preparing for the decisive assault on Kyiv. Where Russian soldiers can’t break the defense, they bomb civilian infrastructure and attack ordinary people, including targeting evacuation corridors, to spread terror. Several Ukrainian cities are besieged and their inhabitants lack basic necessities. The humanitarian crisis intensifies. However, Russian forces made minimal ground advances over recent days, and it’s highly unlikely that Russia has successfully achieved its planned objectives to date. According to the Pentagon, nearly all of the Russian troops that were amassed on Ukraine’s border are already fighting inside the country. Meanwhile, the international legion was formed and started its fight for Ukraine. Moreover, Western countries have recently supplied Ukraine with many hi-tech military arms and equipment, including helicopters, anti-tank weapons, and anti-aircraft missiles, which could be crucial in boosting the Ukrainian defense.   Implications for Gold What does the war in Ukraine imply for the precious metals? Well, gold is shining almost as brightly as the Ukrainian defense. As the chart below shows, the price of the yellow metal has surged above $1,980 on Monday (March 7, 2022), the highest level since August 2020. What’s more, as the next chart shows, during today’s early trading, gold has soared above $2,020 for a while, reaching almost an all-time high. In my most recent report, I wrote: “as long as the war continues, the yellow metal may shine (…). The continuation or escalation of Russia’s military actions could provide support for gold prices.” This is exactly what we’ve been observing. This is not surprising. The war has increased the safe-haven demand for gold, while investors have become more risk-averse and have continued selling equities. As you can see in the chart below, the S&P 500 Index has plunged more than 12% since its peak in early January. Some of the released funds went to the gold market. What’s more, the credit spreads have widened, while the real interest rates have declined. Both these trends are fundamentally positive for the yellow metal. Another bullish driver of gold prices is inflation. It’s already high, and the war in Ukraine will only add to the upward pressure. The oil price has jumped above $120 per barrel, almost reaching a record peak. Higher energy prices would translate into higher CPI readings in the near future. Other commodities are also surging. For example, the Food Price Index calculated by the Food and Agriculture Organization of the United Nations has soared above 140 in February, which is a new all-time high, as the chart below shows. Higher commodity prices could lead to social unrest, as was the case with the Arab Spring or recent protests in Kazakhstan. Higher energy prices and inflation imply slower real GDP growth and more stagflationary conditions. As a reminder, in 2008 we saw rapidly rising commodities, which probably contributed to the Great Recession. In such an environment, it’s far from clear that the Fed will be very hawkish. It will probably hike the federal funds rate in March, as expected, but it may soften its stance later amid the conflict between Ukraine and the West with Russia and elevated geopolitical risks. The more dovish Fed should also be supportive of gold prices. However, when the fighting cools off, the fear will subside, and we could see a correction in the gold market. Both sides are exhausted by the conflict and don’t want to continue it forever. The Russian side has already softened its stance a bit during the most recent round of negotiations, as it probably realized that a military breakthrough was unlikely. Hence, when the conflict ends, gold’s current tailwind could turn into a headwind. Having said that, the impact of the conflict may not be as short-lived this time. I'm referring to the relatively harsh sanctions and high energy prices that may last for some time after the war is over. . The same applies to a more hawkish stance toward Russia and European governments’ actions to become less dependent on Russian gas and oil. A lot depends on how the conflict will be resolved, and whether it brings us Cold War 2.0. However, two things are certain: the world has already changed geopolitically, and at the beginning of this new era, the fundamental outlook for gold has turned more bullish than before the war. If you enjoyed today’s free gold report, we invite you to check out our premium services. We provide much more detailed fundamental analyses of the gold market in our monthly Gold Market Overview reports and we provide daily Gold & Silver Trading Alerts with clear buy and sell signals. In order to enjoy our gold analyses in their full scope, we invite you to subscribe today. If you’re not ready to subscribe yet though and are not on our gold mailing list yet, we urge you to sign up. It’s free and if you don’t like it, you can easily unsubscribe. Sign up today! Arkadiusz Sieron, PhDSunshine Profits: Effective Investment through Diligence & Care

  With each day of the Russian invasion, gold confirms its status as the safe-haven asset. Its long-term outlook has become more bullish than before the war. Two weeks have passed since the Russian attack on Ukraine. Two weeks of the first full-scale war in Europe in the 21th century, something I still can’t believe is happening. Two weeks of completely senseless conflict between close Slavic nations, unleashed without any reasonable justification and only for the sake of Putin’s imperial dreams and his vision of Soviet Reunion. Two weeks of destruction, terror, and death that captured the souls of thousands of soldiers and hundreds of civilians, including dozens of children. Just yesterday, Russian forces bombed a maternity hospital in southern Ukraine. I used to be a fan of Russian literature and classic music (who doesn’t like Tolstoy or Tchaikovsky?), but the systematic bombing of civilian areas (and the use of thermobaric missiles) makes me doubt whether the Russians really belong to the family of civilized nations. Now, for the warzone report. The country’s capital and largest cities remain in the hands of the Ukrainians. Russian forces are drawing reserves, deploying conscript troops to Ukraine to replace great losses. They are still trying to encircle Kyiv. They are also strengthening their presence around the city of Mykolaiv in southern Ukraine. However, the Ukrainian army heroically holds back enemy attacks in all directions. The defense is so effective that the large Russian column north-west of Kyiv has made little progress in over a week, while Russian air activity has significantly decreased in recent days.   Implications for Gold How has the war, that has been going on for already two weeks, affected the gold market so far? Well, as the chart below shows, the military conflict was generally positive for the yellow metal, boosting its price from $1,905 to $1989, or about 4.4%. Please note that initially the price of gold jumped, only to decline after a while, and only then rallied, reaching almost $2,040 on Tuesday (March 8, 2022). However, the price has retreated since then, below the key level of $2,000. This is partially a normal correction after an impressive upward move. It’s also possible that the markets are starting to smell the end of the war. You see, Russian forces can’t break through the Ukrainian defense. They can continue besieging cities, but the continuation of the invasion entails significant costs, and Russia’s economy is already sinking. Hence, they can either escalate the conflict in a desperate attempt to conquer Kyiv – according to the White House, Russia could conduct a chemical or biological weapon attack in Ukraine – or try to negotiate the ceasefire. In recent days, the President of Ukraine, Volodymyr Zelensky, said he was open to a compromise with Russia. Today, the Russian and Ukrainian foreign ministers met in Turkey for the first time since the horror started (unfortunately, without any agreement). However, although gold prices may consolidate for a while or even fall if the prospects of the de-escalation increase, the long-term fundamentals have turned more bullish. As you can see in the chart below, the real interest rates decreased amid the prospects of higher inflation and slower economic growth. Russia and Ukraine are key exporters of many commodities, including oil, which would increase the production costs and bring us closer to stagflation. What’s next, risk aversion increased significantly, which is supportive of safe-haven assets such as gold. After all, Putin’s decision to invade Ukraine is a turning point in modern history, which ends a period of civilized relations with Russia and relative safety in the world. Although Russia’s army discredited itself in Ukraine, the country still has nuclear weapons able to destroy the globe. As you can see in the chart below, both the credit spreads (represented here by the ICE BofA US High Yield Index Option-Adjusted Spread) and the CBOE volatility index (also called “the fear index”) rose considerably in the last two weeks. Hence, the long-term outlook for gold is more bullish than before the invasion. The short-term future is more uncertain, as there might be periods of consolidation and even corrections if the conflict de-escalates or ends. However, given the lack of any decisions during today’s talks between Ukrainian and Russian foreign ministers and the continuation of the military actions, gold may rally further. If you enjoyed today’s free gold report, we invite you to check out our premium services. We provide much more detailed fundamental analyses of the gold market in our monthly Gold Market Overview reports and we provide daily Gold & Silver Trading Alerts with clear buy and sell signals. In order to enjoy our gold analyses in their full scope, we invite you to subscribe today. If you’re not ready to subscribe yet though and are not on our gold mailing list yet, we urge you to sign up. It’s free and if you don’t like it, you can easily unsubscribe. Sign up today! Arkadiusz Sieron, PhDSunshine Profits: Effective Investment through Diligence & Care

At this point, we have a flat end to a choppy week. Markets continue to deal with the ongoing conflict in Ukraine that’s been chopping up risk markets. The top 10 and 25 started the week with a solid move lower. Before buyers flooded back into coins on Tuesday. Feverish buying continued on Wednesday, and it came as a real surprise as markets were flat till lunchtime AU time. Gains reminded us of past times as many of the top ten jumped to 8% plus gains, and some coins hit 10-15% gains. The reason was unclear at the time, but news soon hit that Biden’s executive order was leaked. Traders have been nervously awaiting the details of this order as it was set to show how the US government was going to treat and regulate crypto assets. Cameron Winklevoss, president of crypto exchange Gemini Trust, wrote Wednesday that Biden’s executive order is a “watershed moment” for the industry. “It paves the way for thoughtful national crypto regulation that will allow builders to build onshore and ensure that the US remains a leader in crypto,” he wrote. “It is important for various agencies (federal and state!) and Congress to work closely together,” Winklevoss added. “The WH recognizes the importance of overarching public policy and national interest rising above narrow jurisdictional battles to best develop a coherent and cohesive framework.” The crypto world saw the bill as a win, and that was definitely reflected in prices in Wednesday’s session. This was short-lived as sellers came back with a vengeance on Thursday, and most of Wednesday’s solid gains were all or close to being erased. Buy the rumor, sell the fact, combined with failed proposed talks between Russia and Ukraine, could be some of the influences that sent prices lower. Traders made late recoveries on Friday as futures, and other risk assets gained traction during the London session. The top 10 and 25 turned positive last in the session. Waves was a real standout during the week, and it paid little attention to a lot of the external influences we saw during the week. Price started the week at 16.88 and hit a high of 30.88. A gain of 45%. 29.40 is presented as resistance on the weekly chart, but we will be watching to see if price can respond to a new pullback and retest resistance, suggesting the current rally has further to go. The post Your Crypto Focus: 12th-18th March appeared first on Eightcap.

S&P 500 gave up the opening gains, but managed to close on a good note, in spite of credit markets not confirming. Given though the high volume characterizing HYG downswing and retreating crude oil, we may be in for a stock market led rebound today. It‘s that finally, value did much better yesterday than tech.CPI came red hot, but didn‘t beat expectations, yield curve remains flat as a pancake, and the commodity index didn‘t sell off too hard. It remains to be seen whether the miners‘ strength was for real or not – anyway, the yesterday discussed shallow $1,980 - $2,000 range consolidation still remains the most likely scenario. I just don‘t see PMs and commodities giving up a lion‘s share of the post Feb 24 gains next.Let‘s move right into the charts (all courtesy of www.stockcharts.com).S&P 500 and Nasdaq OutlookS&P 500 can still turn around, and the odds of doing so successfully (till the closing bell today), have increased yesterday. The diminished volume points to no more sellers at this point while buyers are waiting on the sidelines.Credit MarketsHYG has only marginally closed below Tuesday‘s lows – corporate junk bonds can reverse higher without overcoming Wednesday‘s highs fast, which would still be constructive for a modest S&P 500 upswing.Gold, Silver and MinersPrecious metals are indeed refusing to swing lower too much – the sector remains excellently positioned for further gains. For now though, we‘re in a soft patch where the speculative fever is slowly coming out, including out of other commodities. Enter oil.Crude OilCrude oil still remains vulnerable, but would catch a bid quite fast here. Ideally, black gold wouldn‘t break down into the $105 - $100 zone next. I‘m looking for resilience kicking in soon.CopperCopper fake weakness is being reversed, and the red metal is well positioned not to break below Wednesday‘s lows. I‘m not looking for selloff continuation in the CRB Index either.Bitcoin and EthereumCryptos remain undecided, and erring on the side of caution – this highlights that the risk appetite‘s return is far from universal.SummaryS&P 500 missed a good opportunity yesterday, but the short-term bullish case isn‘t lost. Stocks actually outperformed credit markets, and given the commodities respite and value doing well, bonds may very well join in the upswing, with a notable hesitation though. That wouldn‘t be a short-term obstacle, take it as the bulls temporarily overpowering the bears – I still think that the selling isn‘t over, and that the downswing would return in the latter half of Mar if (and that‘s a big if) the Fed‘s response to inflation doesn‘t underwhelm the market expectations that have been dialed back considerably over the last two weeks. Token 25bp rate hike, anyone? That wouldn‘t sink stocks dramatically...Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

Bitcoin price loses momentum as it slides back into consolidation along the $36,398 to $38,895 demand zone. Ethereum price slides below a symmetrical triangle, hinting at a move below $2,000. Ripple price remains bullish as bulls eye a retest of $1 psychological level. Bitcoin price continues to tag the immediate demand area, weakening it. Despite the sudden bursts in buying pressure, BTC seems to be in consolidation mode. Ethereum price has triggered a bearish outlook while Ripple price shows signs of heading higher. Also read: Gold Price Forecast: Lower lows hinting at a steeper decline Bitcoin price moves with no sense of direction Bitcoin price dips into the $36,398 to $38,895 demand zone for the fourth time without producing any higher highs. This price action is indicative of a consolidation and is likely to breach lower. A daily candlestick close below $36,398 will invalidate the demand zone and knock BTC to retest the weekly support level at $34,752, which is the last line of defense. A breakdown of this barrier will open the path for bears to crash Bitcoin price to $30,000 or lower. Here, market makers will push BTC below $29,100 to collect liquidity resting below the equal lows formed in mid-2021. BTC/USD 1-day chart While things look inauspicious for Bitcoin price, a strong bounce off the said demand zone that retests the weekly supply zone, ranging from $45,550 to $51,860, will provide some relief for bulls. Ethereum price favors bears Ethereum price action from January 22 to March 4 created three lower highs and higher lows, which, when connected via trend lines, resulted in a symmetrical triangle formation. This technical formation forecasts a 26% move obtained by measuring the distance between the first swing high and swing low to the breakout point. On March 6, ETH breached below, signaling a bearish breakout, which puts the theoretical target at $1,962. A breakdown of the weekly support level at $2,541 is vital; a breakdown of this barrier will expedite the move lower. ETH/USD 1-day chart Regardless of the recent onslaught of bearishness, Ethereum price needs to produce a daily candlestick close above $3,413 to invalidate the bullish thesis. Such a development will also open the possibility of kick-starting a potential uptrend. https://youtu.be/-U0QTf_NwnI Ripple price maintains its bullish momentum Ripple price traverses a bull flag continuation pattern, a breakout from which hints at a continuation of the uptrend. This technical formation contains an impulsive move higher followed by a consolidation in the form of a pennant. The 55% rally between February 3 and 8 formed a bullish flag pole continuation pattern, and the consolidation that ensued in the form of lower highs and higher lows created the pennant. Together, the bullish setup forecasts a 31% ascent for XRP price, obtained by adding the flag pole’s height to the breakout point from the pennant. On March 11, Ripple price broke out from the pennant, signaling the start of the 31% uptrend to $1. So far, the retest seems to be holding up well, so investors can expect the remittance token to continue its journey higher to the $1 psychological level. XRP/USD 1-day chart A daily candlestick close below the immediate demand zone, ranging from $0.689 to $0.705, will create a lower low and invalidate the bullish thesis for Ripple price. In such a case, XRP has the twelve-hour demand zone, extending from $0.546 to $0.633 to support any residual selling pressure. https://youtu.be/rCFQmMHWJZ4

The Swing Overview – Week 10 The war in Ukraine has been going on for more than two weeks and there is no end in sight. However, the markets seem to have started to adapt to the new situation and the decline in the indices has stopped. Meanwhile, inflation in the Czech Republic rose to 11.1% and the ECB left rates unchanged as expected. There is extreme volatility in oil. After reaching 2008 price levels there has been a larger correction. The conflict in Ukraine   The high-profile meeting between Russian Foreign Minister Lavrov and his Ukrainian counterpart Kuleba did not bring a solution to end the war.  Russia continues to expect Ukraine to recognise Crimea as part of Russia, to recognise the independence of republics declared by pro-Russian separatists in eastern Ukraine, and not to join NATO. Kuleba commented that Ukraine will not surrender. So, unfortunately, the war continues.   The sanctions, which have caused the Russian economy a shock and which are being extended, should help to end the war. The US announced that it stopped taking Russian oil. However, European leaders have not agreed to stop taking Russian energy because of their current dependence on it. As a lesson from this war, the EU is preparing a plan to stop taking Russian gas by 2027.   Meanwhile, the markets have calmed down a bit and although a resolution to the conflict is nowhere in sight, the markets seem to have come to accept the war as a regional issue that will have a negative but limited impact on global economic growth. This can be seen in US 10-year bond rates, which have started to rise again.   Figure 1: 10-year government bond yield on the 4H chart and USD index on the daily chart   The US inflation at highest levels in 40 years Annual inflation in the US for February was 7.9%, the highest since January 1982. The biggest contributor to inflation is energy, which saw inflation reaching 25.6%, while gasoline prices were up 38%. These figures do not include recent developments in Europe. Continued supply-side logistics problems and strong demand, together with a tight labour market mean that higher inflation will last for a longer period. Figure 2: The inflation in the US   Next week, the US Fed will meet to respond to rising inflation. Interest rates are generally expected to rise by at least 0.25%.    The SP500 index Long-term investors in the SP 500 index track an indicator of the number of companies whose stock prices are above the 50-day average. Figure 3: The SP 500 Index and an indicator of the number of companies in the SP 500 Index above the 50-day moving average   This indicator has recently fallen to a value of 20. In the past, as the figure shows, reaching a value of 20 was mostly followed by an increase in the index. It is therefore likely that investors will now start buying the shares. Amazon shares gained significantly after the company announced a 20:1 stock split. The stock can thus be afforded by more retail investors. As for the current trend in the SP 500 index, it has been moving down recently. This may be a correction to the overall uptrend shown in Figure 3. In Figure 4 we have a short-term view.     Figure 4: SP 500 on H4 and D1 chart   From a technical analysis perspective, the moving averages suggest that the index is moving down. Investor interest in buying a dip has slowed this decline, which can be seen on the H4 chart where a higher low has formed.  Support is at 4,140 - 4,152. Resistance is at 4,288 - 4,300. The next resistance is at 4,385 - 4,415. The moving averages also serve as resistance.   The inflation in the Czech Republic has surpassed 11% Annual inflation in the Czech Republic for February 2022 was 11.1% (9.9% in January), higher than market expectations (10.3% was expected). This is the highest inflation in the Czech Republic since 1998. The largest contributors to inflation are housing (16%), electricity (22.6%) and gas (28.3%). This figure is likely to force the CNB to raise rates further. The Czech koruna has stalled against the euro at resistance around 25.80 - 25.90. The reason for the weakening of the koruna was geopolitical uncertainty regarding the war in Ukraine. Now it seems that the markets have absorbed this situation and this may be the reason for the appreciation of the koruna that occurred last week. If the war in Ukraine does not escalate further into new unexpected dimensions (such as the disruption of gas supplies to Europe from Russia), then the interest rate differential could again be an important factor, which, due to higher interest rates on the koruna, could lead to the koruna appreciation towards January levels.   Figure 5: EURCZK on the daily chart   Resistance: 25.80 - 25.90.  Support: 24.50 - 24.60 and then around 24.10   ECB and the euro The ECB left interest rates unchanged at 0%. At the same time, it surprised the market by ending its bond buying program in Q3, earlier than previous forecasts. The reaction to the news was a strong appreciation of the euro and it jumped to 1.1120 against the dollar. Eventually, however, the euro ended the session at around 1.10. The reason for this reversal is that tightening at a time when the economy is slowing could lead to stagflation. Strong US inflation data also contributed to the euro sell-off. The US is also much less vulnerable to sanctions against Russia than Europe.   Figure 6: EURUSD on the H4 and daily charts   From a technical point of view, we can see that the EURUSD has stalled right at the resistance band, which is at the 1.11-1.1130 level. The nearest support is 1.08-1.0850.   Crude Oil Brent crude oil reached $136 earlier this week, the highest level since July 2008. This was due to fears of a shortage of black liquid due to the conflict in Ukraine. However, Russia , which produces 7% of global demand, has announced that it will meet its contractual obligations. At the same time, Chevron said there was no shortage of oil and some other producers were ready to increase production if necessary. The EU has also announced that it will not impose an embargo on Russian oil imports, which would otherwise shock the market at a time when oil stocks are reaching multi-year lows, and will not join the US and the UK. Following this, oil began to retreat from its highs.   Figure 7: Brent crude oil on monthly and daily charts Resistance is in the 132-135 range. The nearest support is 103 - 105 USD per barrel. The next support is then in the band around USD 85 - 87 per barrel.  

// 🔥 Ethereum In A Downward Channel by FieryTrading on TradingView.com Since early December, ETH has been trading in a strong downtrend. During this period, a downward channel has appeared on the chart. Apart from the January capitulation, we've been following this channel quite well. Especially the upper resistance of the channel.With the macro environment not looking great at all, I think we're going to see more downside in the coming weeks. As it looks now, we're moving back to the capitulation lows around $2150. In case of a total stock market capitulation, we could even go back to $1750, which is the summer-21 lows.Happy trading! Source: TradingView Idea by FieryTrading

https://www.tradingview.com/chart/XAUUSD/E41DqfO0-XAUUSD-KOG-REPORT-FOMC/ FOMC – 16/03/22 This is our view for FOMC today, please do your own research and analysis to make an informed decision on the markets. It is not recommended you try to trade the event if you have less than 6 months trading experience and have a trusted risk strategy in place. The markets are extremely volatile and can cause aggressive swings in price. We’re going to use the 1H chart for todays FOMC Report and will say that we’ll stick with this for the remainder of the sessions, unless anything changes. As usual we’ll give our daily updates and levels with our latest thoughts and ideas. We can see the market reacting to any news coming out of Russia/Ukraine which is causing traders difficulty in trying to swing trade this to the upside. We expecting this to give a push up at some point, whether that’s today or not remains to be seen. The key levels here are 1889 and 1870 below with the higher levels being 1937-40 and above that the 1950-60 level which would fill the imbalance. So as usual we’ll look at this with 2 scenarios in mind with our bias being to the upside at the moment! Scenario 1: They push the price down, we’ll wait for the levels of 1880 and breaking that 1860-65 before testing the long trade back up to target the 1920-30 price point initially. We feel it will go higher if it comes back up so we’ll look to protect any trades we get good entries on and take partials along the way. We have a KOG target at 1885 which we’re not far from so there’s a chance we may hit that. Scenario 2: They push the price up, we will only be looking for extreme key levels in this scenario to short the market. There is a chance they will want to test at least that 1950-60 level so we’ll wait there to short the market back down. It’s facing difficult and extreme market conditions which are being driven by fear. We’ve maintained we will take it easy and trade this level to level which has worked very well for us this month. What we don’t want to do is get stuck in trades if this decides to move and give any profits back to the market. For that reason we would say please trade this safely, reduce your lots sizes and give yourself time to think about your entry and exit. Always have a risk strategy in place and if you’re not comfortable with it please stay out. Cash is also a position, the markets won’t be like this forever. There is of course the case that this is likely priced in and we don’t see much movement so please also keep that in mind. It all depends on the question and answer session which will be after the release. As always, trade safe. KOG

AMC stock gains on Tuesday as equities and growth stocks rally. More gains are likely on Wednesday for AMC shares as peace hopes rise for Ukraine. AMC Entertainment also saw increased attention from its investment in Hycroft Mining. AMC shares are up 8% to $15.65 as better prospects for peace in Ukraine seem to be lifting up the entire market. The Nasdaq has risen an optimistic 2.7% about one hour into Wednesday's session. Further positivity is in motion with the start of the Federal Reserve's Federal Open Market Committee two-day meeting that is expected to usher in a 25 basis point rise in the fed funds rate. The rise in interest rates should slow this year's hike in inflation. This price action is certainly exciting for AMC apes, who have witnessed AMC stock drop to the low $13s earlier this week. AMC Entertainment did benefit in Tuesday's afternoon session from its acquisition of Hycroft Mining, but it seems the stock is gaining more interest on Wednesday for this buy. Now its acquisition target, HYMC, has seen its shares go in the opposite direction on Wednesday. HYMC stock is trading down 9% at $1.37 at the time of writing. AMC stock closed higher on Tuesday as investors took comfort from the continued collapse in oil prices and hoped for some form of peace in Ukraine. It was oil that was the big driver for equity markets, and growth stock, in particular, bounced hard as this sector had seen the bigger losses since the year began. It is hard to see guess whether this movie can be sustained long term though as yields have once again moved up. This should stall growth stocks. A peace deal would see further gains for all sectors, but then these may be capped if yields keep rising. The Fed decision later on Wednesday will give us more clarity on this. AMC Stock News The big news yesterday though for AMC apes was the investment in Hycroft Mining by AMC. This was right out of left field and remains a puzzling one to say the least. Hycroft Mining is a gold and silver miner with one mine in Nevada. The company has not turned a profit since 2013 and last November said it may need to raise capital to meet future financial obligations. The company also laid off over half of its workforce at the mine last November. This is a pretty high-risk investment and perhaps AMC and AMC apes are used to that. It was only a small outlet as CEO adam Aron alluded to. Nevertheless, the Hycroft Mining (HYMC) stock price soared as retail investors piled into the name. By the opening of the regular session on Tuesday, HYMC stock was trading nearly 100% higher, but it closed only 9% higher at $1.52 having traded up to $2.97. The reason for the dramatic turnaround was probably a bit of reality set into investors once they had a look at Hycroft Mining and its financial condition. The main reason was a Bloomberg report saying that Hycroft Mining could do a $500 million share sale by as early as next Tuesday. We understand the sale is ongoing and being led by B.Riley Securities. AMC Stock Forecast We were quite negative on this deal on Tuesday and remain so. At least it is not a big investment for AMC, but it still reads poorly. This will not endear AMC stock to further credibility in our view. CNBC carried out a report yesterday about the surge in price and volume trading in HYMC stock before the AMC announcement: "Small mining firm with troubled history saw big spikes in stock price, trading volume ahead of AMC deal." Tuesday's move took AMC back up to our resistance level at $14.54, which was a key breakdown level. Below this and AMC remains bearish. Above $14.54 is neutral. We remain bearish on AMC with a target price of $8.95. AMC stock chart, daily Prior Update: AMC stock opened higher on Wednesday as the stock market remains on edge over the potential for some form of a peace deal in Ukraine. Oil prices falling sharply has also helped investor sentiment. AMC is currently trading at $14.77 for a gain of exactly 2% after 5 minutes of the regular session on Tuesday. Hycroft Mining (HYMC) stock is trading 4% lower at the same stage on Wednesday. Later we get the Fed interest rate decision which may hamper more progress from growth stocks but for now, it is full steam ahead. AMC is back among the top trending stocks on social media sites and interest seems high. $14.54 remains a key level for AMC to hold above if it wants to have put a bottom formation in place. Otherwise, it will return to the bearish trend and look to target $8.95 in our view.

  The FOMC finally raised interest rates and signaled six more hikes this year. Despite the very hawkish dot plot, gold went up in initial reaction. There has been no breakthrough in Ukraine. Russian invasion has largely stalled on almost all fronts, so the troops are focusing on attacking civilian infrastructure. However, according to some reports, there is a slow but gradual advance in the south. Hence, although Russia is not likely to conquer Kyiv, not saying anything about Western Ukraine, it may take some southern territory under control, connecting Crimea with Donbas. The negotiations are ongoing, but it will be a long time before any agreement is reached. Let’s move to yesterday’s FOMC meeting. As widely expected, the Fed raised the federal funds rate. Finally! Although one Committee member (James Bullard) opted for a bolder move, the US central bank lifted the target range for its key policy rate only by 25 basis points, from 0-0.25% to 0.25-0.50%. It was the first hike since the end of 2018. The move also marks the start of the Fed’s tightening cycle after two years of ultra-easy monetary policy implemented in a response to the pandemic-related recession. In support of these goals, the Committee decided to raise the target range for the federal funds rate from 1/4 to 1/2 percent and anticipates that ongoing increases in the target range will be appropriate. It was, of course, the most important part of the FOMC statement. However, the central bankers also announced the beginning of quantitative tightening, i.e., the reduction of the enormous Fed’s balance sheet, at the next monetary policy meeting in May. In addition, the Committee expects to begin reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities at a coming meeting. It’s also worth mentioning that the Fed deleted all references to the pandemic from the statement. Instead, it added a paragraph related to the war in Ukraine, pointing out that its exact implications for the U.S. economy are not yet known, except for the general upward pressure on inflation and downward pressure on GDP growth: The invasion of Ukraine by Russia is causing tremendous human and economic hardship. The implications for the U.S. economy are highly uncertain, but in the near term the invasion and related events are likely to create additional upward pressure on inflation and weigh on economic activity. These changes in the statement were widely expected, so their impact on the gold market should be limited.   Dot Plot and Gold The statement was accompanied by the latest economic projections conducted by the FOMC members. So, how do they look at the economy right now? As the table below shows, the central bankers expect the same unemployment rate and much slower economic growth this year compared to last December. This is a bit strange, as slower GDP growth should be accompanied by higher unemployment, but it’s a positive change for the gold market. What’s more, the FOMC participants see inflation now as even more persistent because they expect 4.3% PCE inflation at the end of 2022 instead of 2.6%. Inflation is forecasted to decline in the following years, but only to 2.7% in 2023 and 2.3% in 2024, instead of the 2.3% and 2.1% seen in December. Slower economic growth accompanied by more stubborn inflation makes the economy look more like stagflation, which should be positive for gold prices. Last but not least, a more aggressive tightening cycle is coming. Brace yourselves! According to the fresh dot plot, the FOMC members see seven hikes in interest rates this year as appropriate. That’s a huge hawkish turn compared to December, when they perceived only three interest rate hikes as desired. The central bankers expect another four hikes in 2024 instead of just the three painted in the previous dot plot. Hence, the whole forecasted path of the federal fund rate has become steeper as it’s expected to reach 1.9% this year and 2.8% next year, compared to the 0.9% and 1.6% seen earlier. Wow, that’s a huge change that is very bearish for gold prices! The Fed signaled the fastest tightening since 2004-2006, which indicates that it has become really worried about inflation. It’s also possible that the war in Ukraine helped the US central bank adopt a more hawkish stance, as if monetary tightening leads to recession, there is an easy scapegoat to blame.   Implications for Gold What does the recent FOMC meeting mean for the gold market? Well, the Fed hiked interest rates and announced quantitative tightening. These hawkish actions are theoretically negative for the yellow metal, but they were probably already priced in. The new dot plot is certainly more surprising. It shows higher inflation and slower economic growth this year, which should be bullish for gold. However, the newest economic projections also forecast a much steeper path of interest rates, which should, theoretically, prove to be negative for the price of gold. How did gold perform? Well, it has been sliding recently in anticipation of the FOMC meeting. As the chart below shows, the price of the yellow metal plunged from $2,039 last week to $1,913 yesterday. However, the immediate reaction of gold to the FOMC meeting was positive. As the chart below shows, the price of the yellow metal rebounded, jumping above $1,940. Of course, we shouldn’t draw too many conclusions from the short-term moves, but gold’s resilience in the face of the ultra-hawkish FOMC statement is a bullish sign. Although it remains to be seen whether the upward move will prove to be sustainable, I wouldn’t be surprised if it will. This is what history actually suggests: when the Fed started its previous tightening cycle in December 2015, the price of gold bottomed out. Of course, history never repeats itself to the letter, but there is another important factor. The newest FOMC statement was very hawkish – probably too hawkish. I don’t believe that the Fed will hike interest rates to 1.9% this year. And you? It means that we have probably reached the peak of the Fed’s hawkishness and that it will rather soften its stance from then on. If I’m right, a lot of the downward pressure that constrained gold should be gone now. If you enjoyed today’s free gold report, we invite you to check out our premium services. We provide much more detailed fundamental analyses of the gold market in our monthly Gold Market Overview reports and we provide daily Gold & Silver Trading Alerts with clear buy and sell signals. In order to enjoy our gold analyses in their full scope, we invite you to subscribe today. If you’re not ready to subscribe yet though and are not on our gold mailing list yet, we urge you to sign up. It’s free and if you don’t like it, you can easily unsubscribe. Sign up today! Arkadiusz Sieron, PhDSunshine Profits: Effective Investment through Diligence & Care

  Inflation continues to rise but may soon reach its peak. After that, its fate will be sealed: a gradual decline. Does the same await gold?If you like inviting people over, you’ve probably figured out that some guests just don’t want to leave, even when you’re showing subtle signs of fatigue. They don’t seem to care and keep telling you the same not-so-funny jokes. Even in the hall, they talk lively and tell stories for long minutes because they remembered something very important. Inflation is like that kind of guest – still sitting in your living room, even after you turned off the music and went to wash the dishes, yawning loudly. Indeed, high inflation simply does not want to leave. Actually, it’s gaining momentum. As the chart below shows, core inflation, which excludes food and energy, rose 6.0% over the past 12 months, speeding up from 5.5% in the previous month. Meanwhile, the overall CPI annual rate accelerated from 7.1% in December to 7.5% in January. It’s been the largest 12-month increase since the period ending February 1982. However, at the time, Paul Volcker raised interest rates to double digits and inflation was easing. Today, inflation continues to rise, but the Fed is only starting its tightening cycle. The Fed’s strategy to deal with inflation is presented in the meme below. What is important here is that the recent surge in inflation is broad-based, with virtually all index components showing increases over the past 12 months. The share of items with price rises of over 2% increased from less than 60% before the pandemic to just under 90% in January 2022. As the chart below shows, the index for shelter is constantly rising and – given the recent spike in “asking rents” – is likely to continue its upward move for some time, adding to the overall CPI. What’s more, the Producer Price Index is still red-hot, which suggests that more inflation is in the pipeline, as companies will likely pass on the increased costs to consumers. So, will inflation peak anytime soon or will it become embedded? There are voices that – given the huge monetary expansion conducted in response to the epidemic – high inflation will be with us for the next two or three years, especially when inflationary expectations have risen noticeably. I totally agree that high inflation won’t go away this year. Please just take a look at the chart below, which shows that the pandemic brought huge jumps in the ratio of broad money to GDP. This ratio has increased by 23%, from Q1 2020 to Q4 2021, while the CPI has risen only 7.7% in the same period. It suggests that the CPI has room for a further increase. What’s more, the pace of growth in money supply is still far above the pre-pandemic level, as the chart below shows. To curb inflation, the Fed would have to more decisively turn off the tap with liquidity and hike the federal funds rate more aggressively. However, as shown in the chart above, money supply growth peaked in February 2021. Thus, after a certain lag, the inflation rate should also reach a certain height. It usually takes about a year or a year and a half for any excess money to show up as inflation, so the peak could arrive within a few months, especially since some of the supply disruptions should start to ease in the near future. What does this intrusive inflation imply for the precious metals market? Well, the elevated inflationary pressure should be supportive of gold prices. However, I’m afraid that when disinflation starts, the yellow metal could suffer. The decline in inflation rates implies weaker demand for gold as an inflation hedge and also higher real interest rates. The key question is, of course, what exactly will be the path of inflation. Will it normalize quickly or gradually, or even stay at a high plateau after reaching a peak? I don’t expect a sharp disinflation, so gold may not enter a 1980-like bear market. Another question of the hour is whether inflation will turn into stagflation. So far, the economy is growing, so there is no stagnation. However, growth is likely to slow down, and I wouldn’t be surprised by seeing some recessionary trends in 2023-2024. Inflation should still be elevated then, creating a perfect environment for the yellow metal. Hence, the inflationary genie is out of the bottle and it could be difficult to push it back, even if inflation peaks in the near future. Thank you for reading today’s free analysis. We hope you enjoyed it. If so, we would like to invite you to sign up for our free gold newsletter. Once you sign up, you’ll also get 7-day no-obligation trial of all our premium gold services, including our Gold & Silver Trading Alerts. Sign up today! Arkadiusz Sieron, PhDSunshine Profits: Effective Investment through Diligence & Care.

Shiba Inu price action falls back to Monday’s opening levels, making it a week of hardly any gains or losses. SHIB price action looks a bit bearish as another broader support test is set to kick in later today. SHIB price is still set to tank to $0.00001500 as bearish momentum continues. Shiba Inu (SHIB) price action retook a step back and pared almost all the gains from Wednesday’s rally. Investors are swinging back into bearish mode as tail risks emerge and are put at the top of the agenda going into the weekend. Conflicting rumours and contrary remarks from what is going on in Ukraine are keeping investors puzzled and refraining them from continuing to open risk-on bets. Shiba Inu price sees puzzled investors turning their back on crypto Shiba Inu price action is set to erase its gains from earlier this week. SHIB price rose after the news that peace talks were making good progress. Yet this all looked to be thrown in the bin overnight as several headlines came out about Russiabeing not at all optimistic, and the US even putting the threat of nuclear weapons back on the table, as it sees Russia possibly trying to squeeze out a peace agreement that meets all of its demands but none of Ukraine’s. Shiba Ina and other cryptocurrencies saw bulls repeating the same mistake as last week when they got squeezed out by the weekend. SHIB price action is again dropping back to the baseline of a longer term triangle with the green trend line as its base. Multiple tests up until now have been held, but with the meeting between Biden and Xi this evening, it looks clear that the US wants to get a clear answer from China as to whether it is with the US against Russia, or with Russia – offering no middle ground. The tail risk from this meeting going into the weekend could trigger a break at $0.00002111 and see a drop towards $0.00001708, the low of January, which could well overshoot towards $0.00001500. SHIB/USD daily chart Of course, a truce or ceasefire would help turn the current sentiment around. If that were to happen expect a big pop in price action, capped at a max 13% gain, to where the red descending trend line and side of the triangle intersect with the 55-day Simple Moving Average (SMA) . Yet at the moment this seems an impossible hurdle to break through seeing the weakness of bulls currently at hand.

As expected, The Fed came out last week and approved a quarter percentage point interest rate rise,  its first since December 2018 and possibly one of many more to come as the U.S. faces up to rampant inflation. With that big decision now priced into the markets, all eyes will be on whether stocks will be able to sustain last week’s fresh gains into a second week. There are still many headlines to be written and with the Ukrainian conflict entering its second month, there may be many more twists and turns. In today’s Trade Zone Trading Week Ahead, we look ahead at potential moves in equities, oil, gold, Bitcoin and also discuss why forex might now be an interesting play. Watch the video below to get this week’s latest insights. REGISTER FOR THIS WEEK’S LIVE MARKET UPDATE WITH BORIS AND KATHY Join us at 10 PM AEDT (11 AM GMT) this Wednesday as Boris and Kathy once again take you through another midweek live market update, discussing the key assets and price points to be looking at as the weekend approaches. It’s the perfect session to get valuable insight into what’s currently hot in the financial markets, as well as an opportunity for you to ask your own questions to the experts in a live Q&A. Registration is free. Click below to secure your seat. Boris Schlossberg is Managing Director of FX Strategy for BK Asset Management, Co-Founder of BKForex.com, and Managing Editor of 60secondinvestor.com. Widely known as a leading foreign exchange expert, Boris has more than three decades of financial market experience. In 2007, while still at FXCM, Boris started BKForex with Ms. Kathy Lien. A year later, Boris joined Global Futures & Forex Ltd as director of currency research where he provided research and analysis to clients and managed a global foreign exchange analysis team with Kathy Lien. Since 2012 Boris has focused exclusively on running BKForex.com where he generates trade ideas and designs algorithms for the FX market in partnership with Ms. Lien. He is the author of “Technical Analysis of the Currency Market” and “Millionaire Traders: How Everyday People Beat Wall Street at its Own Game”, both of which are published by Wiley. In 2020 Mr. Schlossberg started www.60secondinvestor.com a free website that distils the best of institutional investment research for retail investors. Important Data Releases & Events this Week Monday EUR ECB President Lagarde Speaks Tuesday USD Fed Chair Powell Speaks Wednesday EUR ECB President Lagarde Speaks GBP CPI GBP BoE Gov Bailey Speaks USD Fed Chair Powell Speaks Thursday USD Crude Oil Inventories CHF SNB Interest Rate Decision, Monetary Policy Assessment, SNB Press Conference EUR German Manufacturing PMI GBP Composite, Manufacturing and Services PMI EUR EU Leaders Summit USD Core Durable Goods Orders USD Initial Jobless Claims Friday GBP Retail Sales EUR German Ifo Business Climate Index EUR EU Leaders Summit The post Trade Zone Week Ahead with Boris Schlossberg (BK Forex): 21st – 25th March appeared first on Eightcap.

ETH investment funds reach record-high inflows in 13 weeks. EU parliament votes against ban on Proof-of-Work consensus. Layer 2 solution developer StarkWareLtd raises $100M at $6B valuation. Key Takeaways Ethereum (ETH) investment funds recorded their largest inflows in 13 weeks against a discouraging investment backdrop. In addition, the Eth 2.0 deposit contract crossed the 10M ETH mark as the community continues to support the network’s transition. The European Parliament voted against a proposed ban on proof-of-work (PoW) mining under the Markets in Crypto-Assets (MiCA) legislation, which would have blocked member states from mining PoW cryptocurrencies like Bitcoin (BTC). Layer 2 solution developer StarkWare raised USD 100M at a $6B valuation. StarkWare provides two layer 2 solutions, StarkEx and StarkNet. Recently, the developer launched StarkNet at the end of February. Cronos (CRO) saw a +8.07% increase in total transactions to 21.55M, while its TVL grew to $2.73B (+14.51% week-on-week). The total number of wallet addresses now stands at 442,534, up +3.94% from last week. Highlights Ethereum ‘Merge’ edging closer with final Kiln testnet launch Ethereum gas fees drop to lowest levels since August 2021 Block’s wallet will have a fingerprint sensor, not a screen Now You can try ‘teleporting’ bitcoin for greater privacy with CoinSwaps How El Salvador is fixing Chivo Wallet, trying to get Bitcoin adoption back on track Polygon network back up with a ‘temporary fix’ after eight-hour stoppage Cosmos’ Inter-Blockchain Communication Protocol (IBC) surpassed 11 million transfers in February Fantom Foundation issues clarification statement about departure of Andre Cronje and Anton Nell         Tags CRYPTO CRYPTO RESEARCH CRYPTO.COM WEEKLY REPORTS CRYPTOCURRENCIES LAYER 1 LAYER 2 MARKET Source: crypto.com

S&P 500 wavered but is bound to get its act together in the medium term. Powell‘s statements shouldn‘t have stunned the bulls, but they did – the mere reiteration of the tightening plans coupled with remarks on the need to stamp out aggressive inflation before it‘s too late (anchored inflation expectations, anyone? I talked that in the run up to the Sep 2021 P&G price hikes and how the competition would be following in a nod to high input costs, with heating job market on top of the commodities pressure pinching back then already), sent stocks and bonds down.Add the recession fears that were assuaged during the Wednesday‘s conference, and you get the S&P 500 bulls having to dust off after Monday‘s setback. Given how early we‘re in the tightening cycle, and that the real economy isn‘t yet breaking down no matter what‘s in the pipeline geopolitically as regards various consequences to commodities, goods, services and money flows, the stock market bulls are still likely to take on the 4,600 as discussed already.Only this time, the upswing would be accompanied by a more measured and balanced commodities upswing, joined in by precious metals. Great profits ahead and already in the making.Let‘s move right into the charts (all courtesy of www.stockcharts.com).S&P 500 and Nasdaq OutlookS&P 500 is consolidating above 4,400, and the relative strength in value as opposed to tech, is boding well – the bulls are pushing their luck a bit too hard as a further TLT decline would pressure growth stocks.Credit MarketsHYG is getting under pressure again, but its decline would be uneven in the short run – as in I‘m looking for quite some back and forth action. First, higher in taking on yesterday‘s selling.Gold, Silver and MinersPrecious metals aren‘t turning lower in earnest – the miners‘ leadership bodes well for further gains, and is actually a very good performance given the hawkish Fed „surprise“ (surprise that wasn‘t, shouldn‘t have been).Crude OilCrude oil strength returning is a very good omen for commodities bulls broadly, and the rising volume hints at return of bullish spirits. The upswing is far from over – look how far black gold got on relatively little conviction, and where oil stocks trade at the moment.CopperCopper is acting strongly, and the downswing didn‘t entice the bears much. The path of least resistance remains higher, and the red metal isn‘t yet outperforming the CRB Index. Great pick for portfolio gains with as little volatility as can be.Bitcoin and EthereumBitcoin went on to recover the weekend setback – Ethereum upswing presaged that. They‘re both a little stalling now, but entering today‘s regular session on a constructive note. I‘m looking for modest gains extension.SummaryS&P 500 is bound to recover from yesterday‘s intraday setback – the animal spirits and positive seasonality are there to overcome the brief realization that the Fed talks seriously about tightening and entrenched inflation. While not even the implied readiness to hike by 50bp here and there won‘t cut it and send inflation to the woodshed, let alone inflation expectations, the recession fears would be the next powerful ally of stock market bears. For now though, we‘re muddling through generally higher (I‘m still looking for a tradable consolidation of last week‘s sharp gains), and will do so over the coming several weeks. The real profits are to be had in commodities and precious metals, as I had been saying quite often lately… Enjoy!Thank you for having read today‘s free analysis, which is available in full at my homesite. There, you can subscribe to the free Monica‘s Insider Club, which features real-time trade calls and intraday updates for all the five publications: Stock Trading Signals, Gold Trading Signals, Oil Trading Signals, Copper Trading Signals and Bitcoin Trading Signals.

WTI has eased back from APac session highs in the $113.00s to under $110 amid fresh profit-taking. The EU is reportedly split over whether or not to press ahead with a Russian oil import ban. After rising as high as the $113.00s during Asia Pacific trade as oil market participants responded to chatter about a potential EU ban on Russian oil imports and weekend news of disruptions to Saudi energy infrastructure, front-month WTI futures have eased back somewhat. Prices are now back to trading beneath $110 per barrel, down about $3.50 versus Monday’s closing highs in the upper $112.00s. That still leaves prices higher by more than $15 versus last week's lows, though still some $20 lower versus earlier monthly highs. Reports that EU foreign ministers are split over whether to press ahead with the Russian oil embargo likely prompted some profit-taking, with Germany reportedly still of the view that the bloc remains too dependent on Russian energy to take such a step. “The proposed ban is still some way from becoming policy because a significant number of EU nations oppose the ban... Still, the fact that the ban is being discussed at all is a significant shift” said analysts at Commonwealth Bank of Australia. Looking ahead, geopolitical developments remain in the forefront, though traders will also be focused on the latest weekly Private API crude oil inventory data release at 2130 GMT. Oil traders continue to fret about uncertainty regarding the extent of loss of Russian supply at a time when global oil reserves are at multi-year lows.

The collapse of the Japanese yen continues, and so far, there are no signs of a trend reversal. The rise in the Yen is often linked to capital flight from risky assets, and the weakening is a sign of increased demand for risky assets. But that explanation hardly fits with what is happening now. We likely see the start of a significant reassessment by the markets of Japan's position in the financial system. In a worst-case scenario, this may turn into a debt crisis in the Land of the Rising Sun and be an even bigger disaster for financial markets than the eurozone debt crisis of a decade ago.The starting point for the weakening of the Yen was at the start of February. At that time, equities were in demand as a haven for capital to maintain the purchasing power of investments. The flow into equities was interrupted by the war in Ukraine but accelerated in the last couple of weeks on signs that these events have hyped up the processes that were taking place before. And these processes are now most visible in the dynamics of the Japanese yen against those currencies where the central bank can respond adequately to inflation.Since the start of February, the USDJPY has risen by 6.5%, and almost all of this increase has taken place since March 7th, taking the pair back to levels last seen at the end of 2015. A much more impressive rally is taking place in the Aussie and Kiwi against the Yen. Since the start of February, they have soared by more than 12%. So far this month, the strengthening is the largest in 11 years for AUDJPY and in more than 12 years for NZDJPY.The interest rate differential game, which was so beloved by traders in Japan before the global financial crisis, has found a second life. Australia and New Zealand have the economic potential to raise interest rates, as they are experiencing a surge in exports due to the boom in their export prices. However, the situation in Japan looks considerably more alarming, as Japan's debt-to-GDP ratio has risen by 77 percentage points to 170% since the financial crisis. Permanent QE from the Bank of Japan has kept government debt costs down but doesn't solve the problem.In the last decade, Japan has turned into a net commodity importer due to its growing dependence on energy and metals and increasing competition from China and Korea. The exchange rate should act as a natural mechanism to stabilise trade in this situation.But this adjustment is difficult for debt-laden Japan because selling currency would de facto mean selling bonds denominated in that currency. Under these circumstances, the Bank of Japan will either have to openly accept that it will finance the government (i.e. increase purchases despite inflation) or soften QE. The first option risks triggering a historic revaluation of the Yen. The second option would deal a blow to the economy and finances by raising questions about whether Japan can service its debt.

This week, we’ve seen another mainly firmer week on the crypto boards, with the top 10 adding over 5% and the top 25 gaining over 5.5%. It wasn’t all smooth sailing as sellers tried to get things going lower early in the week before buyers returned and set the direction for the remainder of the week. Looking at the top 100, Qtum was one of the leaders this week, adding 45% and Looping had a fantastic week, climbing over 58% in the last seven days. ApeCoin failed to catch weekly buyer momentum, dropping over 18% during the week. One of the week’s stories to watch is reports Russia is looking at bitcoin as a payment form to settle energy transactions. Western sanctions continue to hit the Russian economy hard and effectively locked out of the USD FX market. The Kremlin is looking at other payment options, including Bitcoin. Putin has changed his tune on bitcoin. In 2021, the Russian leader told CNBC’s Hadley Gamble that while he believed bitcoin had value, he wasn’t convinced it could replace the U.S. dollar in settling oil trades. Now, the Kremlin’s top brass is weighing it as a form of payment for major exports. It’s unclear, however, whether bitcoin’s relative lack of liquidity could support international trade transactions of that magnitude. – CNBC This week we are focusing on a favorite that has, like many, seen a rough run over the last few months. Cardano started the year with two months of sharp declines that saw the price drop back to 0.7440. Since then, we’ve seen a fightback that’s produced two higher weekly bars, the first time since November 2021. This week’s price broke out of its long term downtrend, another firm sign that demand is back on track, which is what we want to see from here. If buyers can break 1.206 resistance, that would be another win, but we would like to see a new reaction in lower form. A new higher low that sets up a break and closes above that resistance point could send a firmer signal that this new run higher might actually turn into something more. The post Your Crypto Focus: 26th March-1st April appeared first on Eightcap.

We wrap up this month’s Trade Zone Week Ahead coverage with a final look ahead at what’s in store this week as markets open. Last Friday ended on a positive note as Wall Street finished on a high, with both the Nasdaq and S&P500 posting positive gains for one of the best weeks of the year so far. All eyes this week will be whether this turn in sentiment continues. With the Ukraine conflict heading into new territory with talks of Russia wanting to divide the country in two, there are still plenty of headlines to keep traders on their toes, not to mention another Non-Farm payroll reading looming this coming Friday. With the Fed now pushing for further interest rate rises in the coming months, against a backdrop of a buoyant job market and rampant inflation, Friday’s result might just shed some further light on what Fed policy might look like in the months to come. In today’s Trade Zone Trading Week Ahead, we discuss the present scenarios in FX, indices, oil and gold. Watch the video below to get this week’s latest insights. REGISTER FOR THIS MONTH’S FINAL LIVE MARKET UPDATE WITH BORIS AND KATHY Join us at 10 PM AEDT (11 AM GMT) this coming Wednesday as Boris and Kathy complete their monthly takeover of our Trade Zone series. Register to attend the final midweek live market update for March, as we analyse the key moves of the week and look ahead at all the potential trade set up as the weekend approaches. It’s the perfect compact session to give you valuable pointers into what you should be watching out for as the month ends, and you also get the opportunity to ask experts the questions you have on your mind right now in a live Q&A. Registration is free. Click below to secure your seat. Boris Schlossberg is Managing Director of FX Strategy for BK Asset Management, Co-Founder of BKForex.com, and Managing Editor of 60secondinvestor.com. Widely known as a leading foreign exchange expert, Boris has more than three decades of financial market experience. In 2007, while still at FXCM, Boris started BKForex with Ms. Kathy Lien. A year later, Boris joined Global Futures & Forex Ltd as director of currency research where he provided research and analysis to clients and managed a global foreign exchange analysis team with Kathy Lien. Since 2012 Boris has focused exclusively on running BKForex.com where he generates trade ideas and designs algorithms for the FX market in partnership with Ms. Lien. He is the author of “Technical Analysis of the Currency Market” and “Millionaire Traders: How Everyday People Beat Wall Street at its Own Game”, both of which are published by Wiley. In 2020 Mr. Schlossberg started www.60secondinvestor.com a free website that distils the best of institutional investment research for retail investors. Important Data Releases & Events this Week Monday GBP BoE Governor Bailey speech Tuesday AUD Retail Sales, Wednesday EUR Inflation Rate USD JOLTs Job Openings, ADP Non-Farm Employment Change, GDP Thursday USD Crude Oil Inventories, Initial Jobless Claims GBP GDP CAD GDP Friday EUR CPI USD Non-Farm Payrolls, Unemployment Rate, ISM Manufacturing PMI The post Trade Zone Week Ahead: Non-Farm Payrolls in the Spotlight as Risk Turns Positive appeared first on Eightcap.

As traders continue to watch the situation between Ukraine and Russia, we continue to see certain risk markets pull back losses seen on the outbreak of the conflict. The US30 is one of the indexes that have pulled together several solid weeks after setting lows in February. Since that low, we have seen just under 9% added back to the index after it hit its 32,215 low back in February. Oversold or the fact that the conflict may have been overdone in terms of selling or with both countries continuing to meet for talks, could be feeding the fightback. Let’s not sugarcoat it, this is a war, and there have been catastrophic repercussions on the Ukrainian people and the country due to the Russian invasion. Representatives from both countries are currently meeting in Turkey, and let’s hope they can find some common ground and bring an end to the fighting in Ukraine. Not that that will just fix the carnage that the country has gone through and bring back all the needless casualties seen since the start of the invasion. The US30’s fortunes might be intertwined with the talk in some aspects as if we see a peace agreement, and it is respected by the Russian government, this may continue to feed hopes of recovery. We can see the breakout this week that cleared 34,830 resistance. This has continued to confirm the overall V reversal pattern, and we’re looking for the breakout to maintain the idea we are seeing a new leg higher in the current trend. A failure strong as first thought. If the leg continues, we will be looking at 35,835 to show possible resistance if reached. Data wise, there are a few things traders will be watching this week. Today we have consumer confidence and Jolts job openings. Thursday, PCE price and index and Friday US employment data, including non-farm employment change. US30 D1 Chart The post CFD News: US30, Have bulls started a new leg higher? appeared first on Eightcap.

Bitcoin wins the race   While Russia accepts hard currencies like gold, a move like this shows that the efficient attributes of bitcoin come to the forefront in times of crisis and are accepted for large business transactions between nations. Bitcoin, daily chart, price breakout: Bitcoin in USD, daily chart as of March 29th, 2022. Shortly after, president Putin confirmed this new way of doing business. In addition, China and Russia agreed to a thirty-year contract in the gas sector, transacted in Euros. We can see that we find ourselves in times of currency warfare and that it is essential to pay close attention to where and in what form we store our values. The daily chart above reflects this recent news in a price advance of bitcoin from US$37,567 to US$47,701. A 28% advance in just two weeks. Bitcoin broke through the sideways range, and this week shall show whether this breakout will be a successful one or not. In this case, the bulls have their odds much in favor over the bears.     Bitcoin, weekly chart, price left the station: Bitcoin in USD, weekly chart as of March 29th, 2022. We have now left the entry zone (green box) compared to last week’s chart book and the published weekly chart. While the crowd now chases a trade, struggling with the typical inefficiencies of volatility breakouts (bad fills, slippage, being late), we are established in our positioning with the sum of 9 accumulated runners. The runners being the last 25% of each initial position. A fully de-risked or more precisely no-risk venture (see quad exit)! Looking at the weekly chart, we find the resistance distribution zones at around US$49,650 and US$52,430. We place additional entries if the price returns to the entry box top. Bitcoin, monthly chart, if March closes strong: Bitcoin in USD, monthly chart as of March 28th, 2022. The price has entered the confirmed buy zone from a monthly perspective. The dual chart shows the progression from last week’s anticipation to this week’s chart book release. Should prices within this week stay within the green box, all-time frames are in alignment. A picture of a confirmed bullish bitcoin trend. It is a rare occurrence and confirmation for larger time frame traders and a call to look for low-risk entries, if no sufficient exposure is at play yet. Bitcoin/Gold-Ratio, daily chart, Bitcoin wins the race: Bitcoin/Gold-Ratio, daily chart as of March 28th, 2022. Another split-screen view of a chart (a daily chart of the bitcoin/gold ratio) shows the progression of last week’s chart book publication and the situation right now. We had a triangle breakout last week and a substantial advance since then. The suggested rotation out of gold and into bitcoin was/is a successful one. The overall move was 30% in just two weeks. One can use this relationship as well to indicate bitcoins’ recent gain in strength and direction. Bitcoin wins the race: Change is never accepted lightly. We typically resist change and prefer an existing state of affairs as human beings. Nevertheless, we find ourselves in less than average circumstances with a worldwide pandemic, a never-ending war, and a general divide in opinions. Russia’s recent move towards approval of bitcoin shows that when the rubber meets the road, what works and is practical in times of crisis and need, wins the race. While governments around the globe feverishly try to get their electronic payment systems developed, bitcoin already finds its use spreading, and successfully so.    Feel free to join us in our free Telegram channel for daily real time data and a great community. If you like to get regular updates on precious metals and cryptocurrencies, you can also subscribe to our free newsletter. Disclosure: This article and the content are for informational purposes only and do not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. The views, thoughts and opinions expressed here are the author’s alone. They do not necessarily reflect or represent the views and opinions of Midas Touch Consulting. By Korbinian Koller|March 29th, 2022|Tags: Bitcoin, Bitcoin bounce, Bitcoin bullish, Bitcoin consolidation, bitcoin/gold-ratio, crypto analysis, crypto chartbook, DeFi, low risk, quad exit, technical analysis, trading education|0 Comments About the Author: Korbinian Koller Outstanding abstract reasoning ability and ability to think creatively and originally has led over the last 25 years to extract new principles and a unique way to view the markets resulting in a multitude of various time frame systems, generating high hit rates and outstanding risk reward ratios. Over 20 years of coaching traders with heart & passion, assessing complex situations, troubleshoot and solve problems principle based has led to experience and a professional history of success. Skilled natural teacher and exceptional developer of talent. Avid learner guided by a plan with ability to suppress ego and empower students to share ideas and best practices and to apply principle-based technical/conceptual knowledge to maximize efficiency. 25+ year execution experience (50.000+ trades executed) Trading multiple personal accounts (long and short-and combinations of the two). Amazing market feel complementing mechanical systems discipline for precise and extreme low risk entries while objectively seeing the whole picture. Ability to notice and separate emotional responses from the decision-making process and to stand outside oneself and one’s concerns about images in order to function in terms of larger objectives. Developed exit strategies that compensate both for maximizing profits and psychological ease to allow for continuous flow throughout the whole trading day. In depth knowledge of money management strategies with the experience of multiple 6 sigma events in various markets (futures, stocks, commodities, currencies, bonds) embedded in extreme low risk statistical probability models with smooth equity curves and extensive risk management as well as extensive disaster risk allow for my natural capacity for risk-taking.

I don’t watch movies much. Usually I think they are a waste of time. Recently I watched the movie Belle with my wife, and we both enjoyed it. This was the first film we had watched in a theater together in 35+ years. Anyway, here is my review of the movie Belle. ========================== There are a number of reasons why the reviews for Belle are all over the map.  I saw both the Japanese version with English subtitles on a small screen, and the English dub at a theater.  I read a lot of manga and manhua, and occasionally I watch anime, but less so because it eats up too much time. The reason I think the reviews vary so much relates to personality differences and willingness to think deeply.  If you ever look at comment threads on manga sites, you will run into a lot of shallow people who only can appreciate action-packed manga, don’t understand what the victory conditions are for the main character, and cannot wrap their minds around people who don’t act the way they would act. The plot of Belle revolves around two people, Suzu (Belle) and Kei (The Dragon), who have been hurt so badly in their lives that they have cut off as many people as they possibly can in order to avoid future hurt.  Now, is this an attractive pair to build a movie around? No, and that is the design of the movie, to make you sense the alienation.  Another aspect of the alienation is the characterization of rural Japan, where transportation options are becoming scarcer; travel to school is arduous for Suzu.  The movie implicitly asks a bunch of questions.  Is what you are assuming true or not?  Suzu assumes that the beautiful and talented girl Luka is happy, popular, and stuck-up.  Suzu assumes her Dad doesn’t care, and also Shinobu, whom she wishes would be her boyfriend.  She assumes that Luka likes Shinobu. She assumes that people would not like Belle if she openly revealed who she was.  Yet later in the movie she realizes that all of those assumptions are wrong. The most fundamental question of the movie is “Who are you?” Who is Belle? Who is the Dragon?  Everyone wants to know who they are in the real world.  So, does the metaverse U create a new you?  Though Suzu gets fame, and Kei gets infamy via U, if anything, U intensifies their problems, which need to be solved in real life. U seems to work at the beginning, but it doesn’t truly pay off. One theme for both Suzu and Kei is that their mothers died.  Suzu’s mother died rescuing an unknown girl from drowning, saying, “I have to go or she’ll die,” and then drowns after saving the girl. There is a parallel near the end of the movie, where Suzu knows that she has to find Kei or he might die, and saves him at the risk of her own life. She gets hurt in the process and does not die.  This is a story of becoming brave enough to love. The Dragon saves Belle in U.  Suzu saves Kei in the real world. The final theme is singing.  When Belle sings in U it affects people, as many have felt loss and rejection.  This is a change for Suzu, who loved to sing with her mother, but could not sing after her mother died. A turning point of the movie comes when Shinobu says to her when she wants to rescue Kei, “How can you get through to them if you are not yourself?” She then realizes that she needs to sing inside U not as the beautiful Belle, but as ordinary Suzu.  And after that she once again can happily sing on her own wherever she is. It is well-known that when the Japanese version of Belle (w/English subtitles) premiered at Cannes, it received a 14-minute standing ovation, which is rare.  If the international film community thought it was that good, it probably is stupendous.  To that end, ignore the shallow comments of those that did not understand the movie.

Today we are looking at the ASX200 on the daily timeframe. Price has once again returned to a key supply area. Will we see another rally stopped, or could this be a push into new records? The ASX200 has put together three solid months after a shocker to start 2022. Price 6.81% in January before buyers got back hold of things and put over 8% back on to the current point in April. So far this week, we have seen 1% added by buyers. This takes us back to a key area of supply. From roughly 7590 to 7640, we have seen two major trend reversals once price has moved into this area. 13th of August 2021 was the first rejection, and we saw the latest on the 4th of January, which led to a 9% pullback. Buyers once again have a robust medium-term uptrend in play that got going in March. Earlier this month, buyers broke out of consolidation setting up the new push back to the supply area. Will this run be different and finally break and close above 7640-7652, setting a new all-time high? The ASX has a lead on US indexes as it sits close to all-time records atm. US indexes are pushing higher despite inflation and treasury worries. Their continued momentum might be the lead that ASX buyers need to get to that next step. Australian inflation is rising as the RBA has already hinted at higher rates, but for now, that doesn’t look to be causing too much worry to the short term price. We will be watching with interest if buyers can continue to push higher or if we will see sellers flood back in once again, holding the supply area. ASX200 D1 Chart The post CFD News: ASX200 returns to a key supply area appeared first on Eightcap.

Bitcoin declined by 2.3% over the past week, ending it at around $39.5K. Ethereum lost 3.9%, while other leading altcoins in the top 10 fell from 2.2% (Solana) to 10.5% (XRP). The exception was Terra (+12.9%). On Monday, the pressure on cryptocurrencies continued, taking another 1.3% off bitcoin to 38.9k, sending it to test March lows. The bitcoin dominance index rose 0.2% to 41.2% over the same period. Total crypto market capitalisation, according to CoinMarketCap, changed little over the week, remaining at 1.8 trillion, as a wave of buying in the first half of the week turned into a strong sell-off in the second. The bitcoin dominance index rose 0.2% to 41.2% over the same period. Read next (by FXPro): What Moves Forex Rates? Strong US Dollar Affects British Pound (GBP), Japanese Yen (JPY) And CNH | FXMAG.COM Crypto Fear and Greed Index rose from 24 to 27 and returned to its starting point during the week. By Monday, the index had lost another point to 23, remaining in the extreme fear territory. Bitcoin has declined for the third consecutive week, along with stock indices. BTC tried to rise, renewing its highs in a week and a half, around $43,000. Thursday and Friday saw a sharp pullback along with the stock market, and bitcoin fell below the circular $40,000 level. Changpeng Zhao, the Binance's chief executive, said the adoption of cryptocurrencies would rise as geopolitical tensions escalate and the use of the dollar as a sanctions tool grows. He believes the US will lose out to the rest of the world if it continues to suppress bitcoin. Read next (by FXPro): Want To Exchange 100 GBP To USD? GBP/USD Below 1.3000! (GBP) British Pound Weakens! GBP To USD - 17-Months-Low! | FXMAG.COM A group of US congressmen have spoken out against mining cryptocurrencies using the environmentally damaging Proof-of-Work (PoW) consensus algorithm. They said that cryptocurrencies of particular concern are BTC, ETH, XMR and ZEC. The EU has discussed banning BTC trading because of its energy and environmental impact. Bitcoin's energy consumption continues to increase and is attracting the attention of environmental organisations and regulators.

Well, what can we say about this last week? It was a horrific week on the crypto boards, with most coins plunging. The selling got going last weekend and peaked with a real market crash on Thursday. 200 billion of value was wiped off just on Thursday’s session alone. Bitcoin hit 25,338 USD at its lowest point on Thursday, and Ethereum touched $1702, setting new year lows. The rout wasn’t just about those two. The top 25 index coin index we quote cashed by 45.18% to its low on Thursday. Why did this happen? As the week went on, a few stories started to emerge. UST was the main influence, and it had a catastrophic effect on Terra Luna, which we will get to later. UST is a stable coin; these coins are meant to be pegged in value to the USD and, in theory, should be at the 1:1 value. UST is a little different as it’s an algorithmic stable coin under-pinned by code rather than cash held in reserve. This is where the trouble began. As UST fell under $1 the cracks opened and fear set in. Selling accelerated, and its value slipped down to .41 cents. This had disastrous consequences for its sister currency Terra Luna which has a floating price and was designed to absorb UST price shocks. Terra crashed on UST failure to hold value and ended Thursday’s session under 1 US cent. We’re talking at 99% plunge! This was catastrophic for traders and investors that owned LUNA as many exchanges slowed to craw trying to deal with the mass of sell orders hitting the exchanges. Pressure on bitcoin, the Luna Foundation owned a mass of bitcoin used to shore up terra in times of crisis. Talk suggested large amounts had been sold to deal with the terra issue and this compounded/added to the panic selling that session. The story continues, tether the world’s largest stable coin, also dipped below $1 US, sending a shock through the markets of a contagion. This added to the panic. It’s difficult to tell what may happen next, but from watching the events this week, it’s important you remain vigilant as this volatility continues. I’m not an industry expert, but from watching the events this week, it’s something that came to my mind.This week’s focus is a sad one, but we can’t skip over Terra Luna. I’m not going to say much more on it as the meat is above. It’s a terrible event as, yes, some might think it’s cool to see markets destroyed, but there’s a personal loss in there as many investors believed in terra and now may face very unfortunate situations. The post Crypto Focus: Market meltdown continues as Terra (Luna) collapses appeared first on Eightcap.

Between 5 and 12 May 2022, Bitcoin fell by over $13,000, i.e. over 33%. It increased Bitcoin depreciation which started on 28 March, to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Such a significant sale caused the exchange of the oldest virtual currency to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. However, considering that the demand reaction that appeared last weekend was much more modest than the previous ones around this support, it seems highly probable that it will be only a temporary correction, after which the BTC rate will return to losing value. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM If this sell-off leads to a sustained drop below $24,000, we will have to prepare for a further depreciation towards $24,000 or even below $20,000. The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. The demand reaction that appeared last weekend was much more modest than the rebound observed in this region in May, June and July 2021. We assume that it will be only a correction, after which ETH will return to around $1,750. A permanent drop below this price level could open the door for further declines to $1,400 — around this price is another significant support around which we could expect a greater demand response. Solana (SOL) Loses Ca. 77% Looking at the Solana quotes, we notice that the price of this cryptocurrency fell between 2 April and 12 May this year by almost 77%, dropping to the area of technical support of $37, which was the lowest level since August 2021. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM In the second half of last week, the demand reaction appeared. Although it could signal a potential rebound towards the previously defeated support (now resistance) of $78, taking into account the general pessimism currently observed in the broad cryptocurrency market, it seems that the increases can end much earlier. The SOL rate could return to around $37 or even fall below this support if this happens. It would indicate a potential for further depreciation towards $23. The current situation on the Cardano quotes is also very interesting. The price fell between 4 April and 12 May this year by 69%, dropping to the area of technical support of $0.40, which was the lowest level since the beginning of February 2021. It is where the demand response appeared, and if the several-day increases continued, the ADA rate could even return to the area of previously defeated support (now resistance) of $0.75. However, there are many indications that this rebound will ultimately turn out to be only a correction, after which Cardano’s quotations will return to the area of $0.40, or they will drop even lower. Start your trading adventure with Geco.one

Bitcoin has been hovering around the 30K mark for a second day, forcing the rest of the crypto market to balance declines and gains. Ethereum has lost 1.2% in 24 hours but remains near 2,000. Altcoins from the top ten are mostly declining, losing between 0.7% (DogeCoin) and 3.8% (Polkadot). Tron is gaining 1.7% but has been little changed since the end of last week. Total crypto market capitalisation, according to CoinMarketCap, declined 1.1% overnight to $1.29 trillion. Bitcoin’s dominance index remained unchanged at 44.3%. Bitcoin has stalled at the psychologically significant 30K level The Cryptocurrency Fear and Greed Index was up 4 points to 12 by Wednesday and remains in “extreme fear”. The index’s recovery from lows since 2019 is due to a waning selloff but not a market reversal to growth. Bitcoin has stalled at the psychologically significant 30K level and has also lost the momentum of the rebound at the 76.4% Fibonacci line from the downward move from late March to last Thursday’s lows. This is a typical shallow counter-trend correction. The inability of the market to develop the offensive from the current levels would raise the question that the final target for the downtrend would be the 161.8% area of that move, which is near $11.3K. Such a setback would cancel out all upside momentum from October 2020. So far, this scenario looks exceptionally pessimistic and needs to converge the disappointment of crypto-neophytes on top of an actual collapse of the global economy and stock market. Such a dip would leave Bitcoin’s price at only 16% of its peak, which has happened several times in its history. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM However, a significant drop below previous cyclical highs ($20K) would be unusual, although Bitcoin was previously repurchased on similar drawdowns. Perhaps a more cautious scenario would be a dip into the $20-23K area to close the gap at the end of 2020 or a return to the 2017 highs. The realist-optimistic scenario points to the possibility of cautious buying by long-term investors from current levels. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar However, it does not suggest a new wave of explosive growth, as financial conditions and a return to the area at the start of 2021 are disappointing for those investors who have been buying cryptocurrencies as a way to make a quick buck. Moreover, inflation has weaned 10% off the dollar’s purchasing power over this period. Among the news that caught our eye were: According to CoinShares, institutional investors invested $274 million in crypto funds last week, a record since the start of the year. Following TerraUSD, another stable coin - DEI - lost its peg to the US dollar. According to the Congressional Research Service (CRS), the stable coin market needs strict regulation. Because of the speculative nature of cryptocurrencies, investors need more protection, or they could lose confidence in the markets, SEC chief Gary Gensler said. Read next: (TRX) TRON USD Decentralised Blockchain Platform That Focuses On Entertainment And Content Sharing. Altcoins: A Deep Look Into The TRON Network | FXMAG.COM The Portuguese authorities are considering introducing a tax on income earned from investments in digital assets. Dogecoin co-founder Billy Marcus called 95% of crypto-assets “trash” and suggested that 70% of investors don’t even understand the fundamentals of the crypto market.

On Wednesday, Bitcoin was down 3%, ending the day around $29,200, remaining near that mark on Thursday morning. Ethereum lost 4.3%. Other altcoins in the top 10 fell from 1.8% (BNB) to 9.8% (Cardano). The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% overnight to $1.24 trillion. The Bitcoin Dominance Index rose 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was up 1 point to 13 by Thursday and remains in ‘extreme fear’ territory. Bitcoin resumed its decline on Wednesday amid a sharp weakening of US stock indices, which fell even more than BTC. The Nasdaq and S&P 500 lost more than 4% on Wednesday. The impressive oversold strength accumulated by the crypto market after it collapsed 40% from late March levels (versus 16% for the S&P500) temporarily limits the declining scale. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM Nevertheless, the overall negative market sentiment has prevented the bulls from turning out in full force. So far, it isn’t easy to see reliable signs of oversold or rebound formation. We should be prepared for the cryptocurrency market to test support at last week’s lows again in the near term. We consider the area near 20K the final target for a potential selloff, which corresponds to Bitcoin’s long-term support line. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business Among the news that caught our eye were: Former US Federal Reserve chief Ben Bernanke called Bitcoin a harmful currency. He lashed out at cryptocurrencies, calling them “a great tool for extortionists”. Binance lost $1.6 billion due to the collapse of Terra tokens on the exchange’s balance sheet. Billionaire Bill Ackman said one of the main reasons for Terra’s collapse was a pyramid scheme of business. Investors were promised a 20% yield backed by a token whose value was determined by demand from new investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware South Korea’s Financial Services Commission, amid tensions in the Stablecoin market, is proposing to register cryptocurrencies based on their level of risk to investors. Microsoft has warned crypto investors of an increase in the activity of a new type of malware called Cryware, which allows the theft of assets from hot cryptocurrency wallets. Birgit Rodolph, executive director of the German BaFin, called for universal regulation of the DeFi industry across the EU. Follow FXMAG.COM on Google News

Hi traders, today we’re seeing a similar pattern across several coins. After yesterday’s failed lower break attempt, ranges have developed. We’re seeing this pattern on a few, BTC, BNB, ETH, SOL, ADA, and XRP. We’ve zeroed in on Bitcoin as on the 4-hour chart. The range is quite symmetrical. We saw 29K come in yesterday as a demand point, and for now, price continues to hold above. The range can be broken down into inside action and overall action. On the side, we are looking at two possible directions. One, we see price maintain the pattern and move back to the bottom of the range. Two buyers regain momentum as we see a test or break of the range roof. If number two occurs, that will line up with the overall action idea of a new breakout due to steady demand seen yesterday rejecting seller attempts to break lower. We can also see a trend break on the four-hour chart and a fast trend break on the daily. If sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance If buyers clear the range, we could see resistance develop from 32,200. On the other side, if sellers can not only move back to the range base but break through it, we would look at the 27,600 area to possible offer buyer resistance. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM It will be interesting to see which side wins this battle. Hoping all of our readers have a wonderful weekend. Bitcoin 4H Chart The post Crypto News: Bitcoin is range-bound. Will we see a break today? appeared first on Eightcap.

Bitcoin fluctuates around $30K and has crossed that line daily in one way or another over the past 12 days. A 3.5% increase in the day’s results on Thursday turned into another pullback on Friday morning. Ethereum has strengthened by 3.5% in the past 24 hours, finding itself pegged at $2000. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”) Other altcoins in the top 10 gained between 0.4% (Solana) and 5.5% (XRP). Total cryptocurrency market capitalisation, according to CoinGecko, rose 3.1% overnight to $1.28 trillion. The Bitcoin Dominance Index rose 0.1% to 44.8%. By Friday, the cryptocurrency fear and greed index is unchanged at 13 points (“extreme fear”). Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars Bitcoin and the entire cryptocurrency market’s protracted tug-of-war promises to resolve with a strong move in one direction. However, there is hope for both bulls and bears. The latter has a minor advantage, as we saw this area touch down from above in January and June-July 2021. But now, all the fighting is concentrated below. Among the crypto news that caught our eye: MicroStrategy CEO Michael Saylor said his company would buy bitcoin at any price until it reached a million dollars. Bitcoin’s drop below $30,000 last week came after a large volume of the cryptocurrency entered exchanges. According to IntoTheBlock, traders have sent around 40,000 BTC to exchanges since May 11. According to an audit report by accounting firm MHA Cayman, USDT stable coin issuer Tether Holdings Limited reduced its reserves in the commercial papers by 17%, improving the quality of its funds. Read next: Altcoins: What Is PancakeSwap (CAKE)? A Deeper Look Into The PancakeSwap Platform| FXMAG.COM The Ethereum development team said it would migrate the Ropsten test network to the Proof-of-Stake (PoS) consensus algorithm on June 8 2022. According to the legislation, SEC chief Gary Gensler has warned that the regulator is ready to take new measures against unregistered cryptocurrency companies. The US Commodity Futures Trading Commission (CFTC) believes that amid a rise in cryptocurrency crime, the watchdog must strengthen regulation of digital assets to crack down on fraud and manipulation. Follow FXMAG.COM on Google News

Let’s just say things have been a lot more settled this week than last week’s bloodbath. The top 10 and 25 indexes remain positive on Friday. But it’s very little pulled back compared to the damage done over the last 6-weeks. A few headlines that caught our attention this week, Ripple partnered with a Lithuanian firm for cross-border payments. Attention remains on Ethereum as it prepares to merge and just hangs on to the 2000 USD level. Tether is said to be partially backed by non-US government bonds. Is this meant to give us confidence after the stable coins fiasco last week? Talk emerging around debt defaults by El Salvador. The country famously made Bitcoin legal tender and was reported to have bought large parcels on the coin. The pressure continued this week as BTC fell below 29K. Price has moved back above 30K, but pressure remains on the country after this move. Ranges are the topic of a lot of the top ten at this point in the week. We discussed this in detail in our Bitcoin report earlier today, and it’s not really a surprise based on last week’s trade. We want to point out the weekly demand areas and support areas we are seeing holding on several coins. Definitely take a look at some of the top 10 on their weekly charts to see the areas and levels we have brought up. Continuing on from this, we want to show an example of this. As you can see below, Bitcoin weekly has held for now from the 28,600 – 30,000 area. Last week’s plunge failed to break this level, and it remains key weekly support for now. While this level remains in play, we will look for buyers to continue to consolidate.   The post Crypto Focus: Market Steadies but No Sign of Recovery appeared first on Eightcap.

Bitcoin fell between 5-12 May 2022 by over $13,000, i.e. over 33%. It increased the range of the ongoing from 28 March 2022 depreciation to over $21,000, i.e. 44%. In turn, counting from the peaks of November 2021, BTC decreased by over $42,000, i.e. 61%. Bitcoin Price (BTC/USD) Such a significant sale caused the exchange of the oldest virtual currencies to drop from $69,000 to below $27,000, which was the lowest level since December 2020. It is noteworthy that this trend did not stop around the critical level of support of $29,000, where various types of demand reactions have occurred many times in the past. It was no different now. This time, however, the rebound turned out to be extremely modest, and as a result, Bitcoin found itself in a horizontal trend. Considering that the consolidations are corrective formations, statistically, more often, the market will push out of this type of system in the direction consistent with the earlier move. This particular case increases the risk of a potential bottom breakout, which could signal a potential for further declines to the $24,000 region or even below $20,000. This scenario may also be supported by the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci correction from an earlier downward impulse. Ethereum Price (ETH/USD)  The current situation on the Ethereum quotes is also identical. The price of this cryptocurrency fell between 3 April and 12 May this year by 52%, dropping to the Tech Support area of $1,750, the lowest level since July 2021. However, taking into account that the demand response that appeared around this support was much more modest than the rebound observed in this area already in May, June and July 2021, one can assume that in the end, it will turn out to be only a correction, after which the ETH rate will return to around $1,750. Read next: Altcoins: What Is Litecoin (LTC)? A Deeper Look Into The Litecoin Platform| FXMAG.COM A permanent drop below this price level could open the door for further declines to $1,400. There is another significant support around which we could expect a greater demand response. It is worth mentioning here, however, that although the consolidations are corrective formations, there is no rule determining when the market should break out of the system. This fact means that, although the statistics favour further declines before they happen, the ETH exchange rate may remain in the range of $1,900 to $2,150 for some time. (XRP) Ripple Price Looking at the XRP quotes, we can see that the price of this cryptocurrency fell between 28 March and 12 May this year by over 63%. This sell-off led to the breach of several important support zones and did not stop until around $0.36, where on 12 May this year, there was a demand response. Read next: Altcoins: Ripple Crypto - What Is Ripple (XRP)? Price Of XRP | FXMAG.COM However, the subsequent rebound did not last too long. As a result, the XRP price has remained in the horizontal trend for several years. It assumes a return to the vicinity of $0.36 seems more likely. If, however, this support was permanently defeated, then the quotations of this cryptocurrency could even move towards $0.20. Binance Coin (BNB) The current situation on Binance Coin's quotes is also very interesting. The price of this cryptocurrency fell between 7 November 2021 and 12 May 2022 by over 67%. This sale only stopped around $260 technical support - on Thursday, 12 May this year, there was a demand response. Due to the rebound that has continued since then, the BNB price has risen by more than 51%, thus returning to the area of ​​previously defeated support (now resistance) of $330. If a larger supply relationship is around this level, signalling its potential rejection, the BNB price could return to around $260 or even drop further to the $200 region. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one Follow FXMAG.COM on Google News

Bitcoin’s fluctuations continue to shrink, meaning the spring is being compressed further. The lower bound of the trading range has moved to $29K, from where the BTCUSD has received support since the start of active trading in New York. The upper bound of the formed triangle has moved to $30.5K against current prices at $30.0K, reflecting a 1.8% gain over the past 24 hours. Ethereum has added 0.3% in the past 24 hours, with other altcoins in the top 10 from a 2.9% decline (Avalanche) to a 1.0% rise (BNB), but all faring worse than the crypto flagship. Total coin capitalisation, according to CoinMarketCap, rose 1.1% to $1.28 trillion, with the Bitcoin Dominance Index up 0.4% to 44.7%. The Cryptocurrency Fear and Greed Index was down 1 point to 11 by Wednesday and remains in “extreme fear”. The bitcoin price is in consolidation mode, equally dangerous for both bulls and bears. Both gain liquidity over time and get used to the current prices. Read next: Altcoins: What Is Monero? Explaining XMR. Untraceable Cryptocurrency!? | FXMAG.COM On the market cycle side, the chances are higher than the current consolidation will culminate in a breakdown of the lower boundary and liquidation of stop orders, reinforcing the initial downside momentum. Behind the pessimistic outlook is a tightening of monetary policy with slowing economic growth, which puts retail investors in the mode of withdrawing capital from cryptocurrency in favour of consumption. It does not help that the expectations of getting rich fast through cryptocurrencies are not paying off, as bitcoin is worth as much now as it was in early 2021. The ECB warned that the high correlation between cryptocurrency and stock markets... Investing in the industry is becoming more professional, moving beyond naïve attempts to buy and hold. According to CoinShares, investors are withdrawing money from bitcoin and investing in blockchains that support smart contracts, such as Cardano and Polkadot. Net capital outflows from crypto funds last week amounted to $141m. The ECB warned that the high correlation between cryptocurrency and stock markets is usually seen in times of dire economic conditions and will no longer allow the diversification of investment portfolios with digital assets. Follow FXMAG.COM on Google News

Welcome trader, property investor, and bestselling author Stuart McPhee as he delivers his first Trading Week Ahead Live of June. Join him this coming Monday, as he starts the week by summarising the state of the markets in Forex, Indices, and Commodities. Then shares his perspective on potential trade ideas and opportunities in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 1st June 2022! Would like you to receive more support and guidance around your trading activity? Then Join Stuart and the rest of the Trade Zone community this coming Wednesday at 7PM AEST (10AM BST). Watch as he gives you his first mid-week Live Market Update of the Month. Revisiting the weeks earlier trade ideas from Monday’s Trading week Ahead, Stuart updates his insight about the moves and progression that have been made and shares his beliefs in the market as we approach the weekend. Register Now At the end of the session, there will be a live Q&A for you to ask all your market, strategy, and trade-related questions and get the answers needed to unlock the secrets to trading CFDs. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So join the Eightcap Trade Zone this week as we explore the markets together, and please remember to trade safely! The post Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee appeared first on Eightcap.

Bitcoin ignored the positive dynamics of US stock indices on Wednesday, further reducing the amplitude of its fluctuations. The first cryptocurrency has been moving in a $29.5-30.0K range since the start of active trading in New York. We caution that this reduction in volatility risks turning into an explosion in the near term, potentially setting off momentum for a few days or weeks. BTC Price A formal break of consolidation would be considered a consolidation beyond the previous local extremes, which are located at $30.2K and $29.3K. Going beyond those limits in a sharp move promises to trigger a wave of liquidation of positions that the bulls and bears have brought closer to the current price due to low volatility and bored speculators in recent days. Outside of Bitcoin, the situation is more worrying. The total capitalisation of the crypto market, according to CoinMarketCap, has fallen 1.6% in the last 24 hours to $1.25 trillion. Bitcoin’s dominance index is 0.4 points to 45.1%. Ether Price (ETH/USD) Ethereum lost 3%, dropping to 1915, the lower end of a steady trading range for the past two weeks. The daily candlestick chart clearly shows a sequence of increasingly lower local highs. This dynamic is a sure sign of a sustained sell-off in crypto, temporarily covered by Bitcoin’s stability. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Bitcoin’s stability against such an external backdrop may be nothing more than a temporary consolidation of capital in the most liquid cryptocurrency and is supported by improved sentiment in stocks. Crypto Fear And Greed Index The cryptocurrency Fear and Greed Index was up 1 point to 12 by Thursday and remains in “extreme fear”. Ripple lawyer Stuart Alderoty criticised the stance of US Securities and Exchange Commission Chairman Gary Gensler and the SEC’s desire to seize administrative control of the cryptocurrency market. Stellar will provide its technology to the Central Bank of Brazil to develop the digital currency. Follow FXMAG.COM on Google News

After a fall of more than $13,000 that we saw between 5 and 12 May, Bitcoin stopped in the area of ​​$28,500 technical support. There have been many different kinds of demand reactions in this area. It was no different now. Bitcoin Price (BTC/USD) This time, however, this rebound turned out to be highly modest; as a result, Bitcoin has been moving in a horizontal trend for three weeks. The rebound from the lower bound of this formation observed last weekend may drive an increase towards its upper limit, i.e. resistance of $31,500. However, it seems highly probable that the increases observed since Saturday will not lead to a permanent change in the market attitude and the return of BTC to the path of long-term gains. For this to happen, the quotations of the oldest virtual currencies would have to break above $31,500. Read next: Altcoins: What Is Polkadot (DOT)? Cross-Chain Transfers Of Any Type Of Asset Or Data. A Deeper Look Into Polkadot Protocol | FXMAG.COM Price Of Bitcoin Reaching $20K!? Considering that consolidations are corrective formations and, statistically, more often, the market breaks out of these systems in the direction consistent with the previous move, there is a high probability that there will be a more significant supply response in the area of this resistance. It could signal a potential for further declines in the region of $28,500, even further toward $24,000, or even below $20,000. This scenario supports the fact that the upper limit of this system coincides with the measurement of 38.2% Fibonacci retracements from an earlier downward impulse. This prediction can change if Bitcoin breaks above the technical resistance of $31,500. Then we could expect a continuation of increases towards $34,500, or further to $37,000. Ether Price (ETH/USD) Looking at the Ethereum quotes, we notice that, in line with our last week's projection, the cryptocurrency's rate in the second half of last week broke below the technical support of $1,900 and slipped as much as $1,730. Read next: Altcoins: Tether (USDT), What Is It? - A Deeper Look Into The Tether Blockchain| FXMAG.COM It is where the demand reaction reappeared last weekend. As the new week starts, it has led to a re-test of a previously defeated support (now resistance) of $1,900. The immediate future of ETH will now depend on what happens around the level currently being tested. Its permanent defeat, i.e. a break above $1,900, could open the way to further increases towards $2,150 or further towards $2,350. However, the emergence of a more significant supply response at this point, signalling a potential rejection of the resistance currently tested, could, in turn, indicate a potential for a further decline to $1730 or even further toward $1400. Polygon (MATIC) Looking at the MATIC quotations, we can see its price has been in the horizontal trend for almost three weeks between the technical support of $0.57 and the resistance of the $0.75. If the increases observed since last Saturday will continue, the MATIC quotations could return to $0.75. However, considering that this resistance coincides with the measurement of 38.2% Fibonacci retracements, it seems highly probable that more supply pressure will reappear in its vicinity. Read next: Stablecoins In Times Of Crypto Crash. What is Terra (UST)? A Deep Look Into Terra Altcoin. Terra - Leading Decentralised And Open-Source Public Blockchain Protocol | FXMAG.COM It is also worth remembering that consolidations are corrective patterns, which in this particular case increases the probability that the market will try to break out of this pattern with the bottom and further decline even towards $0.45. It’s finally time to get down to business. Start serious trading with Geco.one - top 20 cryptocurrencies, 1:100 leverage, staking, low fees, intuitive design, no KYC. Trading on derivatives has never been easier. Join us https://app.geco.one

Join trader, property investor, and bestselling author Stuart McPhee as he delivers his first Trading Week Ahead Live of June. Watch him as he starts off the week by summarising the state of the markets in Forex, Indices, and Commodities. Then prepare yourself as he shares potential trade ideas and opportunities in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 8th June 2022! Would you like help to understand the reasons behind the moves made in this week’s markets? Join Stuart and the rest of the Trade Zone community on Wednesday 8th June, at 7PM AEST (10AM BST). Watch as he gives you his first mid-week Live Market Update of the Month. Revisiting the week’s earlier trade ideas from Monday’s Trading week Ahead, Stuart updates his insight, breaking down the developments and moves made, and predicts what may happen as the weekend approaches. Register Now At the end of the session, there will be an opportunity to direct all your market, strategy, and trade-related questions to the expert in a live Q&A. Get the answers needed to trade CFDs. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee appeared first on Eightcap.

Why do we voluntarily disclose our clients' loss ratios? Why rather click on an ad from a brokerage firm that states that 70% of their clients' accounts are loss-making than an ad from a broker that does not disclose this statistic at all? Come with us to delve into the ins and outs of broker licensing and learn what protections you are legally entitled to as a client. Broker's licence The operation of a brokerage company involves many minor acts anchored in legislation. From the operation of the broker as a firm with employees; arranging the opening of client accounts to handling client deposits and managing the online platform through which clients trade. For all of this, a broker needs a license. While this can be issued by almost any state authority, licences of some states are more desirable than that of others. And that is due to variety of reasons. Licenses issued in so-called offshore states allow brokers to provide their clients with very attractive trading conditions. For example, the financial leverage that allows a client to multiply his or her trading position and with it also potential earnings (as well as losses) can often go as high as 1:1000 for offshore licenses. However, when it comes to client protection, offshore licenses fall somewhat short. Client protection takes many forms and one of them is the wording of the mentioned disclaimer. Thus, if you see a disclaimer below the image of an advertisement that does not state the percentage of loss but only somewhat vaguely warns of the potential risk, it is very likely that the broker to whom the advertisement belongs has an offshore license. Image: Purple Trading banner ad (see disclaimer below the button) What is a disclaimer The short phrase "XY% of client accounts lose money" and its other small permutations, which you can see for example under our online advertisements, are part of the so-called disclaimer. The disclaimer takes many forms, from a single sentence under a banner ad on Facebook to a multi-paragraph colossus in the footer of the broker's website. The purpose of the disclaimer is simple - to highlight, to those interested in trading on financial markets, the potential risks of this activity and to disclaim broker’s responsibility for their client’s eventual failure. However, the overall message of the disclaimer might be written differently. Because sometimes we see loss percentages under the advertisement of Broker A, while Broker B's disclaimer merely tells us that trading is risky. No percentage, nothing more. Image: Sample of a shorter disclaimer on the broker's page Offshore vs EU license The European Union's legal environment is characterized by a much stricter regulatory approach. This applies to the control of pharmaceuticals, and foodstuffs, but also, for example, to the control of brokerage companies. This sector is dealt with by ESMA (European Securities and Markets Authority), to which the regulators of all countries within the EU have to answer (including the regulator of Purple Trading, the Cypriot CySEC). It is ESMA that takes it upon itself to protect consumers (in this case, investors and retail traders in the financial markets). And it does so in all sorts of ways. The aforementioned client account loss ratios on brokers' marketing materials are one of them.   Other ESMA protections include:   Reduced financial leverage Financial leverage is the ratio of the amount of capital a trader puts into an account to the funds provided by the broker. In simple terms, it is essentially borrowed capital from the broker, which is not reflected in the balance of money in your account, but allows you to trade a greater volume of transactions than you could with your own money. More experienced traders can use leverage to increase their profits many times over. However, as well as profits, leverage also multiplies losses, so less-experienced traders should be wary of using leverage generously. That's also why ESMA capped leverage limit for retail clients at 1:30 in 2018, and higher leverage (up to 1:400) can only be provided by brokers to clients who have met a number of strict criteria to qualify as a so-called Professional Client.   Protection against negative balance A key aspect of client protection. If a client's trade that he had "leveraged" fails and the multiplied loss puts him in the red, the broker will pay the entire amount that is "in the red" from his pocket. Thus, the client can never lose more money than he has deposited in his account and consequently become a debtor. Negative balance protection is compulsory for all brokers operating in the EU. It is not compulsory for offshore brokers, which, combined with the high leverage offered there, can lead to very unfortunate situations.   Segregation of client deposits Forex and online trading, in general, has come a long way since its beginning in 2008. Especially in the early days, the online trading environment was highly unregulated and it was not uncommon for brokers to use capital from client deposits to fund their operations. More than that, there were also cases where the client’s capital was outright misused to enrich a select few. Brokers operating in the EU are obliged to secure clients’ funds in many ways. One is depositing client capital in accounts segregated from the capital brokers use to finance their operations. What if the broker fails to provide his clients with these guarantees? Brokers subject to such strict regulatory authorities as CySEC (cypriot based regulator under ESMA) must undergo regular audits. As part of these audits, the regulator monitors whether all the measures resulting from the licence granted by the regulator are being complied with. Should this not be the case, the broker is usually subject to a hefty fine and often even the suspension of its licence. This means that broker cannot really afford not to comply with the client protection principles of the EU regulatory environment. Conclusion Voluntary disclosure of client account loss rates under broker advertisements may seem odd. However, it is a positive signal that lets you know that the broker in question is highly regulated. Therefore, if you choose to trade with them, you are protected by a number of legislative regulations that the broker will not dare to violate. See which EU broker has the best disclaimer number

Photo Credit: Marco Verch Professional Photographer || With some private investments, you can’t tell what the value truly is. Third party professional help occasionally assists dishonesty Part of my career was based on concealing volatility. I sold Guaranteed Investment Contracts. I helped design and manage several different types of stable value funds. Life insurance contracts get valued at their book value, regardless of what the replacement cost of an equivalent contract would be like presently. Anytime an investment pool with no current market price has a book value above the underlying value of the investments that it holds, there is risk to those holding the investment pool. The amount of risk can be small yet significant with some types of money market funds. It can be considerably larger in certain types of pooled investments like: Various types of business partnerships, including Private REITs, Real Estate Partnerships, Private Equity, etc.Illiquid debts, such as private credit funds, and notes with limited marketability, whether structured or not.Odd mutual funds that limit withdrawals because they offer “guarantees” of a sort. That applies to Variable Annuities with riders offering guaranteed benefits, if the life insurer becomes insolvent.One-off investment liquid partnerships that are secretive and unusual, like Madoff. The underlying may be illiquid, but the accounting may be fraudulent. Or, the accounting may be fine, but the assets listed are not what is in custody. (With small funds, analyze the auditor, trustees, and custodian.)The value of a company touted by a SPAC promoter may be worth considerably less than what is illustrated.Any investment in public equity or debt pool where the positions are concentrated, and they own a high percentage of the float, or a high amount of the securities relative to the amount that gets traded in an average month. Think of Third Avenue Focused Credit, or Archegos. I have consistently encouraged readers to “look through” their pooled investments, and consider what the underlying is worth. If you only have a vague idea of what the underlying investments are, look at their public equivalents. A rising tide lifts almost all boats, and a falling tide does the opposite. There is a conceit within private equity, private credit and private real estate funds that they are less risky; there is no volatility, because we cannot produce an NAV. They have the same volatility as the publicly traded funds, but the volatility is concealed. If trouble hits the public markets 50-75% of the way through the life of a private fund, it will have difficulty selling their investments at levels anywhere near the book value previously claimed by the sponsors. With consent of the limited partners, perhaps they extend the life of the fund to try to recover value, but that also imposes an opportunity cost on holders who were expecting proceeds from the fund on schedule. Remember as well that in a scenario like 1929-1932, private funds will be wiped out with similarly leveraged private funds. Aleph Blog has consistently warned about the possibility of depression, plague, war, famine, bad monetary policy and aggressive socialism. We have gotten plague, war, and bad monetary policy. Famine in a sense may come from the Ukraine war and trade restrictions on Russia, at least for the African countries that buy from them. Thus I encourage readers to avoid private investments that promise no volatility, like the stupid ads for Equity Multiple that run on Bloomberg Radio. All investments involve some type of risk. Just because you can’t or don’t measure the risk doesn’t mean that there is no risk. Don’t listen to investment sales pitches which tell you to avoid the volatility of the public equity and debt markets, when they are taking the exact same risks in the private market, and they cannot or will not measure the risks for you, no matter how thick or thin the “disclosure” document is. There is no significant advantage in the private market over the public market. Indeed, the reverse may be true. (Yes, I meant all of the ambiguity there.) Look to the underlying, and invest accordingly. Look at fees, and try to minimize them. Prize transparency, because it reduces risk in the long run. Those who are honest are transparent.

Join trader, property investor, and bestselling author Stuart McPhee as he delivers his first Trading Week Ahead Live of June. Watch him as he starts off the week by summarising the state of the markets in Forex, Indices, and Commodities. Then prepare yourself as he shares potential trade ideas and opportunities in play for the coming week. JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 8th June 2022! Would you like help to understand the reasons behind the moves made in this week’s markets? Join Stuart and the rest of the Trade Zone community on Wednesday 8th June, at 7PM AEST (10AM BST). Watch as he gives you his first mid-week Live Market Update of the Month. Revisiting the week’s earlier trade ideas from Monday’s Trading week Ahead, Stuart updates his insight, breaking down the developments and moves made, and predicts what may happen as the weekend approaches. Register Now At the end of the session, there will be an opportunity to direct all your market, strategy, and trade-related questions to the expert in a live Q&A. Get the answers needed to trade CFDs. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee appeared first on Eightcap.

Now with Purple Trading: VIX volatility index as a tradable CFD futures symbol The volatility or market uncertainty index (VIX) is an invaluable tool used by many when analyzing markets. However, its trading also holds great potential. That's why we have decided to include it alongside our CFD futures symbols. Read this article and find out how and when to trade VIX as an CFD futures symbol. What is the VIX index and what does it indicate The Volatility Index (VIX), as the name suggests, is an index that is used to measure the level of market nervousness, uncertainty, and volatility. For these reasons, it is also sometimes called a fear gauge or fear index. The higher the VIX index values get, the greater the uncertainty in the markets and vice versa. However, it is very important to remember that the VIX index is a forward-looking index, so it shows the expected, not actual, market uncertainty.   How the VIX index is calculated VIX index measures 30 days of expected volatility of S&P 500 index, it does so by using S&P 500 options (SPX) listed on CBOE exchange as an input. VIX takes together all SPX call and put options and compares the changing demand and price between them.   Relationship between the VIX index and the markets The VIX index generally tracks the S&P 500 index in an inverse manner. That is, if the stock markets (S&P 500) are turbulent and investor nervousness/fear increases, the same can be observed for the VIX index. On the other hand, if stock prices are on the rise, the VIX index generally declines or advances sideways.   Meet: VIX.f - tradable CFD futures instrument Similar to other indices, the VIX is not tradable on its own and needs an investment vehicle to go with it. And that is what VIX.f is - a tradable continuous CFD futures instrument that behaves just like our other continuous CFD futures products. Its price is based on the underlying asset, which in this case is a specific VIX futures contract. Continuous in this case means that before each futures contract expires, there is an automatic rollover of the position. This will result in selling of old contracts and the buying of additional nearest futures contracts. It is also important to note that since this is a CFD instrument, you don’t become the owner of VIX.f when trading it. You only speculate on its price. How to trade VIX.f futures symbol VIX.f CFD futures is a very versatile symbol that can help traders and investors in several different situations:   Buy/long in case of an expected increase in volatility or turbulence in the markets Risk management or hedging vehicle for investors - through the inverse relationship of the VIX and the S&P 500 Option to open a short position in case of expecting a positive economic development in markets Overall, it should be noted that VIX.f futures is not recommended to be traded in a buy and hold manner, but rather as a short-term investment.Symbol specification: Symbol specification Name in Platform VIX.f Leverage ESMA 1:10 Leverage PRO 1:10 Trade hours (GMT+3) Monday to Friday 1:00 – 24:00  i Check out the current trading hours and hours changes Commission 10 USD/lot Currency USD Tick size 0.01 Tick value 0.1 Volume step 1 Min trade 1 Max trade 50

Summary:  In August, Ethereum’s transition from proof-of-work to proof-of-stake known as the merge is expected to take place, and the first public test of the merge is set to occur tomorrow. The merge might be one of the most influential events in the history of crypto by impacting Ethereum both technically and economically. We look into the ways that the merge changes Ethereum. Since releasing the first Ethereum whitepaper in 2014, Ethereum’s developers have explicitly mentioned their desire to eventually adapt proof-of-stake instead of proof-of-work, but due to technical difficulties, it has not previously been feasible. Yet, Ethereum’s transition from proof-of-work to proof-of-stake - known as “the merge” - is now closer than ever. On the 8th of June, the first public test of the merge is set to occur subsequent to seven other minor tests. On this day, the existing test network Ropsten is set to perform a merge. If the Ropsten merge is successful, Ethereum will merge two other existing test networks, ahead of the actual merge. With this knowledge and insight from the Ethereum Foundation, it seems reasonable to consider that the merge will take place in August, considering that the tests turn out well. With the merge taking place in the near future, we look at the ways it changes Ethereum both technically and economically. From miners to stakers The most substantial change is the transition from proof-of-work to proof-of-stake, fundamentally changing by what method the network verifies transactions. Instead of tremendous computing power put at the network’s disposal by miners, holders of Ether are those to verify transactions. This means that holders have the option to lock their Ether as collateral to be able to verify transactions, in other words, stake their Ether. In return, they receive the transaction fees alongside the security cost. The latter is the newly issued Ether to financially encourage miners at this point in time, but it later goes to stakers for verify transactions. With proof-of-stake, the main security feature is that stakers can be slashed. In case the network determines that a staker has behaved unethically, for instance, tried to reverse transactions, the network can take some or all of their staked Ether. More environmentally friendly When adapting proof-of-stake, Ethereum reduces its energy consumption by around 99.95%. To understand why we must again consider the differences between the consensus mechanisms. With respect to Ethereum, a new block is currently finalized around every 13th second. In these 13 seconds, every miner fights to be the one to finalize the block. This involves applying computing power and thus requires electricity. However, in the end, it is solely one miner that finalizes the block and verifies the transactions, even though other miners have spent a tremendous amount of energy on the same block. In terms of proof-of-stake, one validator is randomly chosen to finalize a block based on one’s amount of Ether staked. This happens prior to the block, so no other staker is trying to finalize the same block, ultimately reducing Ethereum’s energy consumption by around 99.95%. Improved and fairer economics Because the energy required to verify transactions on Ethereum drastically decreases, the security cost can likewise decline massively. With proof-of-work, Ethereum’s security cost amounts to around 5.4mn Ether yearly. This means that 5.4mn new Ether gets issued yearly to the present supply of around 120mn Ether to encourage miners to verify transactions. At the time of the merge, the security cost declines to around 0.5mn Ether yearly being compensated to stakers. This is an extensive reduction in the inflation of Ethereum, which might even make Ethereum deflationary since the paid transaction costs are expected to outpace Ethereum’s security cost. With respect to transaction fees, a substantial part of these get burned, hence removed from the supply. Over time this might result in a supply shock because the market is used to absorbing 5.4mn newly issued Ether yearly but suddenly only around 0.5mn Ether is to be issued.One might also argue that proof-of-stake is economically fairer for holders of Ethereum than proof-of-work. With proof-of-work, you can technically verify transactions without holding Ether as long as you invest heavily in computing power. This means that holders are not compensated for the inflation and transaction fees, effectively diluting them. In the case of proof-of-stake, stakers are compensated fairly for the inflation and transaction fees. Not significantly more scalable, though By default, the merge does not make Ethereum significantly more scalable. If the merge turns out well, the merge decreases the block size from around 13 to 12 seconds but maintains the same block size. This ultimately leads to an increase in transactional output of 7.5% but not much more than that. Based on the present schedule, Ethereum will first significantly improve scalability sometime in 2023. It is intended that shard chains get implemented around here, which will massively improve Ethereum’s scalability and possibly require even less hardware to verify transactions. 12.8mn Ether to be unlocked later On December 1st, 2020, the proof-of-stake version of Ethereum went live, known as the Beacon Chain. The Beacon Chain is technically the one to be merged with proof-of-work based Ethereum when the merge occurs. The Beacon Chain has been finalizing empty blocks since it went live to ensure that it works as intended. To verify these blocks, Ethereum holders have been able to stake Ether on the Beacon Chain. Over 10% of the total supply of Ether, around 12.8mn Ether, is now staked on the Beacon Chain.However, by staking Ether on the Beacon Chain, the Ether has been locked. It was originally planned to unlock the staked Ether when the merge occurs, but to simplify the merge from a technical point of view, Ethereum’s developers have chosen not to unlock the staked funds at the time of the merge. The unlocking will likely follow 6 months after the merge, in which the 12.8mn Ether alongside the afterward staked Ether will be unlocked. The compensated security cost and transaction fees to stakers are likewise locked in these months. This means that presumably until next year no newly issued Ether nor transaction fees are expected to hit the circulating supply, potentially limiting selling pressure. On the other hand, when the staked Ether is unlocked, which is not unlikely to be above 15mn Ether at that time, it might result in severe selling pressure. More of the same The merge will not impact Ethereum by other substantial means. First, it is not planned to impact or require holders of Ether to take an active stance. The merge will occur without them noticing. Secondly, it should not influence tokens or decentralized applications presently utilizing Ethereum. This means that deployed tokens and smart contracts on Ethereum are planned to work like before the merge.Although Ethereum’s developers have worked on the merge for years, it can turn out bad or be further delayed. Just like everything else in crypto, there are simply no guarantees.   Source: What you need to know about the Ethereum merge | Saxo Group (home.saxo)

Since breaking down from a long-term consolidation pattern, Ethereum (ETH) has struggled to sustain an upward movement and create a bullish structure.       ETH has been falling since reaching an all-time high price of $4,868 in Nov. After bouncing this Jan, the price created a lower high in March (red icon) and has been falling at an accelerated rate since.        The downward movement has so far led to a low of $1,700 on May 12.  An important development is that the price has broken down from an ascending parallel channel which had previously been in place since May 2021. A breakdown from such a long-term structure could cause a similarly long-term drop. Furthermore, the RSI has decreased below 50, in what is considered a sign of a bearish trend. ETH/USD Chart By TradingView Mixed readings The daily chart provides a mixed outlook. On May 8, the price broke down from a descending parallel channel.  Afterward, it validated it as resistance twice, more specifically on May 31 and June 7 (red icons).  However, the RSI has generated a bullish divergence (green line), whose trendline is still intact.  So, while the price action is bearish, the readings from the RSI are bullish.  ETH/USD Chart By TradingView A closer look at the six-hour time frame shows that ETH is trading inside a symmetrical triangle. While this is considered a neutral pattern, it is occuring after a downward movement.  As a result, it is possible that it will lead to the continuation of the downward movement. ETH/USD Chart By TradingView ETH wave count analysis Cryptocurrency trader @TheTradingHubb tweeted a chart of ETH, stating that the price could soon complete wave A of a long-term A-B-C correction. Source: Twitter While this is a possibility, it is not yet certain of the A wave is complete.  If the short-term A:C (white) waves have a 1:1 ratio, this would lead to a low of $876 prior to the reversal.  Furthermore, the exact shape of the ensuing retracement is not yet determined. ETH/USDT Chart By TradingView For Be[in]Crypto’s latest bitcoin (BTC) analysis, click here Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.   RELATED TOPICS Ethereum (ETH) Ethereum Analysis Ethereum Price Ethereum Trading Source: Ethereum (ETH) Generates Bullish Divergence Despite Bearish Price (beincrypto.com)

Join Stuart McPhee, trader, property investor, and bestselling author, as he gives you his Trading Week Ahead Live for the week. Watch him as he starts off the week by summarising the state of the markets in Forex, Indices, and Commodities. Then prepare yourself as he shares potential trade ideas and opportunities in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 15th June 2022! Are you tired of analysing the market alone? Would you like to know how the market is taking shape this week? Register for Stuart’s mid-week Live Market Update. Join him on Wednesday 15th June, at 7PM AEST (10AM BST) as he looks back at the earlier market activity and opportunities since his Trading week Ahead. Stuart will then break down the developments and moves made and provide further insight on what may happen as the weekend approaches. Register Now At the end of the session, you will have the opportunity to direct all your market, strategy, and trade-related questions to the expert in a live Q&A. Learn what you need to trade CFDs safely. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Trade Zone Week Ahead: Morning Market Insight, with Stuart McPhee appeared first on Eightcap.

Relevance up to 14:00 2022-06-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Bermuda government continues its ambitious plans to become a cryptocurrency hub despite the huge slowdown in the market in 2022. According to Bermuda's Economy and Labor Minister Jason Hayward, a small territory known for its pristine pink sand beaches and attractive tax policies has been actively developing its crypto sector since 2017. On June 3, he noted that the government remained unmoved by the recent crash caused by the collapse of the Terra ecosystem, as the market had survived a lot since 2017. In an interview with the media, Hayward identified the experience of the economy and local regulators in dealing with foreign businesses as a key factor that will help Bermuda become a cryptographic hub. He also stated that the stock market crash would not prevent the plans from being implemented: "We are aware of the recent devaluation of cryptocurrency prices and we are convinced that this does not threaten the island's ability to become a cryptocurrency hub," he said. So far, the Bermuda Monetary Authority has awarded a total of 14 licenses to crypto companies to operate outside the British Isle, four of which were approved in 2022, noted Crag Swan, chief executive of UMB. Technical Market Outlook: The down trend on the ETH/USD pair is still intact as the bears are approaching the last week low located at the level of $1,701.The bearish pressure increases, so in a case of a breakout lower, the next target for bears is seen at the level of $1,420. In order to terminate the down trend, the bulls must break through the key short-term technical resistance located at the level of $2,199. The nearest technical resistance is located at $1,863 and $1,916.     Weekly Pivot Points: WR3 - $2,200 WR2 - $2,120 WR1 - $1,939 Weekly Pivot - $1,827 WS1 - $1,666 WS2 - $1,570 WS3 - $1,388 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $2,000 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,420.   Read more: https://www.instaforex.eu/forex_analysis/279283

Bitcoin was down 0.3% on Thursday, continuing to hover around $30K. This mild decline was a bonus of last month's loss of correlation between the cryptocurrency and stock markets. Ethereum lost 0.4%, settling near $1800. Other top-10 altcoins showed mixed dynamics, ranging from a 2.5% decline (Cardano) to a 3.6% rise (Solana). Financial market veteran Peter Brandt believes Ethereum is in a downward triangle and could fall to $1268 within a month. The total capitalisation of the crypto market, according to CoinMarketCap, fell 0.2% overnight to $1.24 trillion. The cryptocurrency fear and greed index were up 2 points to 13 by Friday and remains in "extreme fear" mode. Bitcoin has crossed the $30K mark almost daily over the past month, with no significant preponderance of buyers or sellers to form a clear trend. Generally, the correlation gap between cryptocurrencies and stock markets is long-term good news as it attracts the attention of professional investors. Weakness in equity and bond markets, sagging gold and the murky outlook for the real estate market are turning their eyes to cryptocurrencies as another tool in a diversified portfolio. CNBC's Mad Money host Jim Cramer has changed his mind about investing in cryptocurrencies, calling BTC and ETH the best long-term investments. However, they should not account for more than 5% of a portfolio. PwC, an audit firm, reported that most hedge funds invest less than 1% of their assets in cryptocurrencies because of regulatory uncertainty in the industry. According to a Deloitte survey, 75% of US retailers will implement support for cryptocurrency payments within two years. USDT, the world's most prominent staple by market capitalisation, will be available on the Tezos blockchain powered by the Proof-of-Stake consensus mechanism. The USDT ecosystem is now open on 12 networks, including Ethereum, Solana, Polygon, Tron and Algorand.

Relevance up to 11:00 2022-06-11 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The summer of 2022 becomes the key for the future of the main altcoin Ethereum. On the one hand, the asset is approaching a historical event and the transition to Proof-of-Stake. On the other hand, the asset is trading near the dangerous level of $1.8k, and risks updating the local bottom near the level of $1.3k. This development is indicated by both fundamental factors and technical metrics. The coin largely echoes the movement of Bitcoin and is approaching a defining moment. The asset is completing the formation of a "wedge" figure on the daily chart. This indicates an increase in volatility, as well as a likely momentum out of the narrowing range. The technical indicators point to an ongoing period of consolidation. However, the RSI and the stochastic oscillator are gradually dropping to the lower border of the bullish zone, which indicates a slight dominance of sellers.   In addition, there is a constant influx of ETH coins to exchanges, which is a negative factor in anticipation of the transition to PoS. At the same time, it should be noted that there are impulsive withdrawals of coins from cryptocurrency exchanges, but they are local in nature and do not occur on an ongoing basis. In many ways, this situation was formed due to the growing level of Bitcoin dominance. Ether failed to become a full-fledged deflationary asset, including due to the transition to Proof-of-Stake.     The Ethereum team has already migrated the Ropsten testnet to the PoS consensus algorithm. The first transactions have already been included in the testnet based on the new algorithm. The merge did not go smoothly, and the developers noticed problems with the proposal of new blocks by the validators. The team is currently working on a solution to this problem. In the long term, as the ETH network migrates to PoS, Ethereum's influence on the crypto market should increase. However, in the current environment, investors are not very enthusiastic about everything that happens, and there are two reasons for this. Both of them are directly related to the bear market and its consequences. The total cost of funds in DeFi applications has decreased by 55% since the beginning of 2022. This indicates a low level of liquidity, and many projects have to adjust in order to survive. Transactions on the ETH network have also dropped to a minimum, as decentralized applications are the main source of transactions on the main altcoin network. A bear market will significantly "cleanse" this market, which will negatively affect the Ethereum ecosystem and the capitalization of the coin.     The second reason is the current macroeconomic situation. The main altcoin is not an important tool in the current environment, when the main goal of investors is capital protection and related investments. CoinShares notes that more and more VCs are opting for Bitcoin-based products due to high inflation rates. Similar forecasts are given in the central bank of the EU and the USA. In the current conditions, ETH completely loses the competition to Bitcoin.         In the current situation, the further movement of the ETH price will largely depend on Bitcoin. The main digital asset increased its dominance level to a six-month high, due to which the correlation of the altcoin with BTC increased significantly.     And if Bitcoin makes a downward breakdown of its own triangle, then there is every reason to believe that the ether will follow a new local bottom, which runs in the $1.3k–$1.4k area.   Read more: https://www.instaforex.eu/forex_analysis/313098

Join Stuart McPhee, trader, property investor, and bestselling author, as he gives you his Trading Week Ahead Live for the week. Watch him as he starts off the week by summarising the state of the markets in Forex, Indices, and Commodities. Then prepare yourself as he shares potential trade ideas and opportunities in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 15th June 2022! Are you tired of analysing the market alone? Would you like to know how the market is taking shape this week? Register for Stuart’s mid-week Live Market Update. Join him on Wednesday 15th June, at 7PM AEST (10AM BST) as he looks back at the earlier market activity and opportunities since his Trading week Ahead. Stuart will then break down the developments and moves made and provide further insight on what may happen as the weekend approaches. Register Now At the end of the session, you will have the opportunity to direct all your market, strategy, and trade-related questions to the expert in a live Q&A. Learn what you need to trade CFDs safely. The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Trading Week Ahead Live with Stuart McPhee appeared first on Eightcap.

Bitcoin is losing for the seventh consecutive day, at one point on Monday morning, falling below $25K. The loss in seven days of selling is approaching 18%, bringing the rate to its lowest since December 2020. Ethereum has lost 28% in seven days. Altcoins in the top 10 fell in price from 14.5% (Tron) to 32% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, sank 20% for the week, approaching the 1 trillion mark and crossing it at some point in the morning. As the price falls, so does trading volume, meaning we see investors fleeing the crypto market. However, the traditional market is suffering from the same symptoms. The cryptocurrency Fear and Greed Index dipped to 11 points by Monday. Two similarly prolonged swings of this index in the 10-20 range were in December 2018 and March 2020. In the first, it was the end of the crypto-winter; in the second, it was the final chord of the sell-off. However, it may be too early to rush to redeem the drawdown. Bitcoin does not seem to have closed the gestalt yet, having not tested the 200-week moving average as it did in the previous two cases. It is now passing through 22K. A more ambitious target for the bears would be an attempt to push Bitcoin back to the 2017 highs region, above $19K. US Treasury Secretary Janet Yellen called cryptocurrencies a ‘very risky’ option for retirement savings. Galaxy Digital CEO Mike Novogratz warned investors of a prolonged phase of market consolidation amid tightening monetary policy by the US Federal Reserve. Cardano blockchain founder Charles Hoskinson believes there are positives to be found even in the current market situation, as a bearish trend opens new opportunities for the crypto sphere. The Central Bank of Canada reported that the share of its citizens owning BTC almost tripled to 13% in 2021. The Swedish Central Bank has called for a ban on bitcoin and other Proof-of-Work cryptocurrencies because of the environmental impact.

Analyst who predicted the bear market of 2018 believes Bitcoin and Ethereum prices are very close to their bottom. Kevin O’Leary of Shark Tank detailed his crypto holdings include Ethereum and scaling solution MATIC. Analysts argue that a drop below $1,070 could push Ethereum prices lower. The cryptocurrency analyst known for accurately predicting crypto bear markets believes Ethereum is close to printing cycle lows. Analysts believe Ethereum price could continue to plummet lower. Ethereum price could hit bottom soon? The crypto strategist Smart Contracter accurately called the bottom of Bitcoin and Ethereum during the 2018 bear market. The analyst is now back with his prediction for the two largest cryptocurrencies and believes BTC and ETH are close to their cycle low. The analyst told his 208,000 followers on Twitter that Ethereum has gone through a capitulation phase and is now trading at a level that offers strong support. Smart Contracter is quoted in his recent tweet: BTC and ETH are both at their weekly respective 200-week moving averages. Bottom is very, very close in my opinion, maybe marginal new lows on lower timeframes but this is the spot to start accumulating in my opinion. This is pure unadulterated capitulation. ETH-USD price chart Kevin O’Leary is bullish on Ethereum Kevin O’Leary, a Canadian entrepreneur and investor at Shark Tank, recently revealed the cryptocurrencies in his portfolio. O’Leary has shared his investment strategy when the crypto market is hit by massive volatility. The Shark Tank star and billionaire investor abide by the general rules of portfolio theory when allocating capital to cryptocurrencies. In an interview with the Bankless podcast, O’Leary shared the rules of capital allocation in his portfolio, implying a bullish outlook on Ethereum, one of the cryptocurrencies he holds. Ethereum price drop below $1,070 could push the altcoin to new low Analysts have evaluated the Ethereum price trend and argue that $1,070 is major support for ETH, and a drop below this level could put a lot of pressure on bulls. The altcoin’s price could slide to support at $1,000 in the near term. ETH-USD price chart Ethereum price could enter the three-digit territory FXStreet analysts believe Ethereum price could decline and plummet lower, entering the three-digit territory. For more information, watch this video:

After a long period of heavy selling, crypto markets saw a small respite yesterday. The Fed raised rates higher than expected yesterday and advised they will do whatever is required to get inflation back around the 2% level. Whether it was a point of oversold value or market confidence in the Fed’s message of action, the result was a recovery in risk markets. From FX to indexes and crypto buyers pushed back, posting higher closes after days of selling. This morning the script continued on from yesterday as buyers continued to hold sway, but this changed into the LON session as a wave of new sellers moved in, knocking the wind out of buyer sails. Bitcoin is the focus of today’s report. After 8 hours of buying, sellers stepped in, re-holding 22,670 resistance. Since that point, we are now seeing three straight bars lower. From here, the 4H show’s a V pattern which could become a reversal but  the trends are definitely lower at the moment, and price failed to break 22,670 resistance. We see two paths from this point. One, buyers manage to break resistance extending the current recovery. Two, we see the current selling expand with a new move back to support. If we see a break of support, this could set up a new extension of the current downtrend. Bitcoin 4H chart The post Crypto News: Bitcoin stalling after yesterday’s recovery? appeared first on Eightcap.

Watch Stuart McPhee, trader, property investor, and bestselling author, this Monday for more analysis and market support in his Trading Week Ahead Live for the week. Join him as he begins the week by sharing his market approach, potential trade ideas, and opportunities that are in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 22nd June 2022! Would you like some more support in understanding the mid-week performance and trajectory of the markets? Register for next week’s Live Market Update and join Stuart on Wednesday 22nd June, at 7PM AEST (10AM BST) as he shares his review of the market progression made and summarises his predictions as we approach the weekend. Register Now At the end of the session, you will have the chance to ask Stuart all your market, strategy, and trade-related questions in a live Q&A. Learn how to approach the markets and what you need to trade CFDs safely. If you are looking for that extra bit of support and guidance, the Trade Zone is the perfect place to get the help you need to improve your skills and understanding. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Week Ahead Live with Stuart McPhee appeared first on Eightcap.

Relevance up to 14:00 2022-06-22 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Ethereum dropped through the $1,012 low early this week before finding interim support. The crypto is seen to be trading close to the $1075 mark and is expected to resume its rally towards $1,920 initial resistance soon. Bulls are looking poised to hold prices above the $1,000 mark to keep the near term structure intact and constructive. Ethereum has carved a meaningful downswing between $4,850 and $1,012 levels as seen on the daily chart. Ideally, prices need to retrace the above drop before the next leg lower could resume. Immediate price resistance is seen through the $1,920 mark and a minimum push towards that is expected in the near term. Ethereum might have terminated its decline around the $1,012 mark and could be preparing to resume its rally. A push above $1,244 will be required to confirm that bulls are back in control and further acceleration towards the $1,920 mark. Aggressive traders might be preparing to initiate fresh long positions against $1,000. Trading plan: Preparing to resume higher through $1,920 mark against $1,000 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/280641

Watch Stuart McPhee, trader, property investor, and bestselling author, this Monday for more analysis and market support in his Trading Week Ahead Live. Join him as he begins the week by sharing his market approach, potential trade ideas, and opportunities that are in play for the coming week.  JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 22nd June 2022! Would you like some more support in understanding the mid-week performance and trajectory of the markets? Register for next week’s Live Market Update and join Stuart on Wednesday 22nd June, at 7PM AEST (10AM BST) as he shares his review of the market progression made and summarises his predictions as we approach the weekend. Register Now At the end of the session, you will have the chance to ask Stuart all your market, strategy, and trade-related questions in a live Q&A. Learn how to approach the markets and what you need to trade CFDs safely. If you are looking for that extra bit of support and guidance, the Trade Zone is the perfect place to get the help you need to improve your skills and understanding. So come join Eightcap and Stuart McPhee this week on the Trade Zone as we explore the markets together – Please remember to trade safely! The post Week Ahead Live with Stuart McPhee appeared first on Eightcap.

Relevance up to 09:00 2022-06-21 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Tether, the largest stablecoin and the third largest cryptocurrency in the world, fell victim to a massive DDOS attack on June 18. According to a tweet by Paolo Ardoino, the company received a ransom note from hackers who attacked its system. He explained, however, that this was by no means new. Tether has dealt with similar situations in the past. As a result of the attack on the stablecoin site, 8 million queries were recorded in 5 minutes. On a normal day, she only receives 2 inquiries per 5 minutes. The company first reported the attack about 2 hours after it was launched. While tether has been losing market share in the past few weeks, other stablecoins, such as USD Coin (USDC), have been gaining in value. USDC's market capitalization has risen from approximately $ 48 billion in mid-May to $ 55 billion today. The dwindling market cap of the tether is taking place in the face of ongoing panic in the market. The aggregate value of the entire cryptocurrency market has recently dropped below $ 1 trillion for the first time since February 2021. Technical Market Outlook: The ETH/USD pair had made the Bullish Engulfing candlestick pattern at the H4 time frame chart and is continuing the up move. The recent local high was made at the level of $1,156, however, it is still not enough to terminate the down trend just yet. The next target for bulls is seen at the level of $1,233, which is the technical resistance. The intraday technical supports are seen on the levels of $1,048, $1,008 and $1,000. The larger time frame chart trend remains down and as long as the key short-term technical resistance is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $2,249 WR2 - $1,737 WR1 - $1,420 Weekly Pivot - $1,161 WS1 - $818 WS2 - $551 WS3 - $206 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,000. Please notice, the down trend is being continued for the 11th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/280793

Relevance up to 16:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Ethereum (ETH/USD) fell to new lows at $878 on Saturday, this level was last seen on Jan 3, 2021. Since this level, Ethereum has been bouncing and has recovered over 30%. It is currently trading at around 1,125 about 1/8 Murray. Cryptocurrency market sentiment has stabilized. Bitcoin has bounced from the low of 17,566 to $20,970 with a gain of more than 20%. Retail buying, profit-taking on short positions and strong overselling have all acted as support for a strong bottom which is likely to see the market recover some of the losses of the last few weeks. Another fact that sets the stage for the recovery of cryptocurrencies is the change in market sentiment. Risk assets such as the Nasdaq-100 index are bouncing and this could favor the recovery of Ether in the coming days. According to the 4-hour chart, we can see that Ether reached the -1/8 Murray line at 875. This level represents extremely oversold conditions which were proven when the eagle indicator reached the 5-point level. Since June 18, the eagle indicator has been giving a positive signal. So, any pullback in ETH is likely to be seen as an opportunity to buy with targets at the strong resistance of 2/8 Murray located at 1,250. Seeing that Ether broke the 21 SMA and is now consolidating above this level adds a positive outlook. As long as it keeps trading above $1045, a recovery is likely in the next few days. If the bullish trend persists and the price breaks sharply and closes above 2/8 Murray at 1,250 on the daily chart, we could expect an upward acceleration. The price could reach the EMA 200 located at 1,774, which would mean a recovery of more than 80% of ETH /USD. On the downside, if ETH consolidates below the 0/8 Murray located at the psychological level of $1000, we could expect a sharp drop and it could reach the area of -1/8 Murray at $875. Our trading plan for the next few hours is buy ETH/USD above 1/8 Murray located at 1,125 or wait for a technical bounce from 1,045 (21 SMA) with targets at 1,250 and 1,574. The eagle indicator is giving a positive signal which supports our bullish strategy.   Read more: https://www.instaforex.eu/forex_analysis/280907

The Swing Overview - Week 24 We've had a week in which the world's major stock indices took a bloodbath in response to rising inflation, which is advancing faster than expected. Central banks have played a major part in this drama. As expected, the US, the UK and, surprisingly, Switzerland raised interest rates. Japan, on the other hand, is still one of the few countries that decided to keep interest rates at their original level of - 0.10%. Macroeconomic data The 0.75% interest rate hike to 1.75%, which was 0.25% higher than the Fed announced at the last meeting, might not have come as a surprise to the markets given that inflation for May was 8.6% on year-on-year basis (8.3% for April). The market reacted strongly in response to the inflation data, and a sell-off in equity indices and a strengthening US dollar followed.   The 0.75% rate hike is the highest since 1994 and the next Fed meeting is expected to see another rate hike again in the range of 0.50% to 0.75%. The Fed is trying to stop rising inflation with this aggressive approach. The problem is that economic projections point to slowing economic growth. Retail data for May fell by 0.3%, which was a surprise to the markets. This is the first drop in consumer spending in 2022. The Fed also lowered GDP growth projections and unemployment is expected to rise as well. All of this points to the risk of stagflation.     But the labour market data is still good. The number of initial claims in unemployment reached 229k last week, down from 232k the previous week. The US dollar hit a new high for the year at 105.86 in response to high inflation and a faster tightening economy. The US 10-year bond yields also rose, reaching 3.479%. Figure 1: The US 10-year bond yields and the USD index on the daily chart   The SP 500 Index The SP 500 index, like other global indices, was in a bloodbath last week as data on rising US inflation in particular surprised. Major supports according to the H4 chart were very quickly broken and the market is showing that it is still in a bearish mood. According to the daily chart, another lower low has formed which together with the lower highs confirms this bearish trend.   Figure 2: The SP 500 on H4 and D1 chart   A support according to the H4 chart is in the 3,645 - 3,675 range. The nearest resistance is at 3,820 - 3,835. A broken support in the 3,710 - 3,732 area can also be considered as resistance. The most important news is behind us and the market could take a breath for a while. The low levels could also be noticed by long-term investors who will be buying dip. But for speculators, it is very risky to speculate on a market reversal in a downtrend.   German DAX index The German DAX index offers a very similar picture to the SP 500. The ZEW economic sentiment indicator in Germany for the month of June showed a deterioration in sentiment among institutional investors and analysts, with the index reading coming in at -28.0. The ongoing war in Ukraine is undoubtedly influencing this pessimism. The end of this tragic event is still not in sight. What is clear, however, is that the longer the conflict continues, the stronger the impact on the European economy will be.    Figure 3: German DAX index on H4 and daily chart The DAX is in a clear downtrend and broke through significant support at 13,300 last week. The nearest resistance according to the H4 chart is 13,250 - 13,300. Significant resistance is at 13,650 - 13,700. A new support according to the H4 chart is at 12,950 - 12,980.   The euro has rejected lower readings  Information about higher inflation in the US and a rate hike sent the EUR/USD pair to support levels at 1.0370. However, the level was not broken and the euro then took a strong move from this area. Investors seem to assume that the ECB will have to respond with a higher than 0.25% rate hike announced at the last meeting. Figure 4: The EUR/USD on H4 and daily chart According to the H4 chart, the nearest resistance is at 1.0560 - 1.0600. The next resistance is then at 1.0760-1.0770. Current support is at 1.0340 - 1.0370 according to the daily chart.   The Bank of England raised rates as expected Rising inflation did not leave the Bank of England in dovish mood as it raised its key rate by 0.25% as expected. The current rate is 1.25%. Inflation may be approaching double digits, but the bank could not afford to be more aggressive. In Britain, economic activity has already fallen and the GDP is falling at its fastest pace in a year. On a month-on-month basis, the GDP in Britain fell by 0.3%.  Manufacturing production fell by 1% in April. Figure 5: The GBP/USD on H4 and daily chart The GBP/USD currency pair had a very dramatic week, first breaking below 1.20, only to stage an unprecedented rally later. Anyway, according to the H4 chart and also the daily chart, the pound is below the SMA 100 moving average, which indicates a bearish sentiment. There are also clear lower lows and lower highs on the daily chart, confirming the downtrend.   The UK interest rate hike did send the GBP/USD currency pair to 1.24, but the price did not stay there for long time as the pound descended from higher values, underlining the overall downtrend. The nearest resistance is at 1.24. A support is then at 1.1930 - 1.2000.   Central Bank of Japan still dovish   In the early hours of Friday morning, the Bank of Japan was also deciding on rates. There, as expected, everything remains as it was, i.e. the rate remains negative at - 0.10%. This situation means a favourable interest rate differential between the US dollar and the Japanese yen in favour of the dollar. It is therefore no surprise that the USD/JPY pair has reached its highest level since 2002. However, the weak yen is a big problem for the Japanese economy, as it makes imports of basic manufacturing raw materials more expensive and thus contributes to inflation. Figure 6: The USD/JPY on H4 and monthly charts The USD/JPY pair has reached the resistance level at 134.5 - 135.0, the highest level since 2002. A support according to the H4 chart is at 131.50 - 131.80.  

Relevance up to 12:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Technical outlook: Ripple grew above $0.33000 intraday on Tuesday in line with our projections. The crypto is seen to be trading close to the day's high at this point in writing and is expected to push through $0.41000 going forward. Bulls are now poised to hold prices above $0.28700 to keep the structure intact. Ripple seems to have completed/terminated a larger-degree corrective drop from around $0.28700. The crypto has been dropping since the $1.91600 highs registered in April 2021 and might have completed a potential standard flat correction. If the above structure holds well, prices will resume the rally from current levels and will take out immediate price resistance at $0.41000. A price break above $0.41000 will confirm that bulls are back in control and that the potential trend might have reversed. Potential targets for Ripple are around $0.65000, followed by $0.92700 and up to $1.31800. Traders might be preparing to initiate fresh long positions from current levels with risk below $0.28700. Trading plan: Potential rally through $0.4100 and $0.65000 against $0.28000 Good luck!   Read more: https://www.instaforex.eu/forex_analysis/281081

Ethereum collateral position set a new record as 71,863.47 ETH were liquidated on June 18. Independent market analyst told his followers that latest Ethereum price rally would make for a clean fakeout. Analysts believe Ethereum price could plummet to $750 in the bear market, an 85% drop from all-time high. Ethereum price has rebounded from its recent slump, outperforming Bitcoin. Experts believe the recent rebound could end up being a “clean fakeout” as liquidations hit large Ethereum collateral positions. Some analysts are projecting a bearish outlook on Ethereum price. Largest Ethereum collateral position liquidated Based on data from Dune Analytics, a crypto data intelligence platform, the wallet with code 0x2291F52bddc937b5B840d15E551e1DA8C80c2B3c liquidated a 71,863.47 ETH collateral position on Liquity at $927.13, at 19:39 GMT on June 18. This set the largest single liquidation record for Liquity. Liquity is a decentralized borrowing protocol that allows users to draw loans at 0% interest against an Ethereum collateral. Loans are paid out in LUSD, a USD-pegged stablecoin on Liquity protocol. The chart below represents the hourly total value locked (TVL) change over the past week on Liquity and the largest ETH liquidation is represented on June 18. Hourly TVL Change (7 days) Liquity Ethereum price gained 30% in two days, outpaced Bitcoin After its massive recent slump, Ethereum price has bounced back, rallying 30% within 48 hours. Experts noted that this ETH recovery has outpaced Bitcoin as the altcoin made a comeback above $1,100 within two days. Experts noted that Ethereum is currently the best-performing asset in the top five cryptocurrencies by market capitalization. Ethereum started a short-term uptrend after dropping to the support zone at $880 on June 19 and climbed above $1,100 moving into a short-term bullish zone. The altcoin now faces major resistance near the $1,150 and $1,160 levels. ETH-USD price chart Analyst calls “clean fakeout” in Ethereum price PostyXBT, a crypto trader and analyst, told his 79,900 followers to be careful of the recent rebound in Ethereum price. The analyst argued that the move “would make for a clean fakeout.” The analyst was quoted in a tweet: [Ethereum]... stopped out on the reclaim of the level. It looks like an opportunity to flip long towards $1250 but $btc still hasn't reclaimed it's like for like level. Would make for a clean fake out. Be careful. Justin Bennett, co-founder of Cryptocademy, supports this fakeout prediction. Bennett noted that fakeouts to one side of the pattern trigger extended moves in the opposite direction. He considers $900 and $780 as support levels for Ethereum price. Ethereum price could drop to $750 for this reason Wendy O, the host of the O show and a leading crypto analyst, believes Ethereum price could plummet to a $750 low. Wendy argues that the current price of Ethereum is close to the beginning of 2021. Typically in bear markets, Bitcoin and Ethereum prices can drop up to 85%. If this holds true, an 85% drawdown from Ethereum’s all-time high of $4,800 would lead to $750 and this is the level that Wendy is watching out for. Wendy told NextAdvisor, Ethereum hit an all-time high in November 2021 at roughly $4,800, so an 85% correction would lead to around $750. However, it’s not going to be a straight shot down. Key investment strategy before next Ethereum bull run Analysts at FXStreet have recommended dollar cost averaging (DCA) as the ideal investment strategy before Ethereum’s next bull run. They consider $900 the bottom for Ethereum price and recommended $500 investments when price hit $1,000 and again when it hit $1,100. For more information, watch this video:

Relevance up to 07:00 2022-06-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Paolo Ardoino, CTO of Tether, announced that the company will undergo a series of audits involving several large specialized companies. In a tweet, Tether announced that it intends to conduct a series of talks with top consulting companies in the coming days. Immediately there was speculation that the recent market crash and the collapse of Terra's stablecoin may have put the company in a difficult position and that it is trying to rectify its mistakes. On the other hand, in just one week, stablecoin faced record payouts of its currency. As much as 12% of USDT evaporated from circulation. This is one of the largest withdrawals in history. Perhaps even second to the $ 16 billion payout by Washington Mutual that led to its bankruptcy in 2008. On May 12, Tether lost its link to the dollar for several hours. Then its rate fell to $ 0.95, triggering panic in the markets. Doubts have arisen over Tether's cash reserves for some time. Apparently, the next scheduled audits are to focus on this issue. Ardoino, who has been trying to assure the solidity of the company's reserves for some time, said Tether had reduced commercial paper holdings from $ 40 billion to $ 15 billion in the past eight months. In addition, there has been a greater shift in reserves towards securities with maturities ranging from zero to three months. Technical Market Outlook: The ETH/USD pair has broken below the short-term trend line support after the second Pin Bar candlestick was done at the level of $1,191. This recent high is still not enough to terminate the down trend just yet. The next target for bulls is seen at the level of $1,233, which is the technical resistance. The intraday technical supports are seen on the levels of $1,048, $1,008 and $1,100. The larger time frame chart trend remains down and as long as the key short-term technical resistance is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $2,249 WR2 - $1,737 WR1 - $1,420 Weekly Pivot - $1,161 WS1 - $818 WS2 - $551 WS3 - $206 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,000. Please notice, the down trend is being continued for the 11th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/281209

Ethereum price sees momentum building for a pop towards $1,243.89. With several central banks this week signalling near the end of the rate hike cycle, markets are finding equilibrium. Expect that space ETH price to rally higher and could return to $1,688.39. Ethereum (ETH) price is technically set to make a killing with a possible 8% intraday gain in sight and, in the near term, a whopping 45% gain forecast. The sudden change comes after a few central banks signalled that the end of their monetary tightening is near, and comments from Powell make clear that the FED will push the US into a recession deliberately to cut short inflation and, by doing so, could trigger a massive weaker dollar. That opens up massive room for ETH price action to manoeuvre in, return to the base of the triangle at $1,688.39 and book 45% gains. ETH price gearing up for 45% gains Ethereum price opens quite bullish this morning in the ASIA PAC session after bulls faced headwinds this week but look to survive and eke out weekly gains going into the weekend. As grim and dire as last week's outlook, the background is changing this week with different rhetoric as markets assess the new information from central banks. As it stands, the congressional hearing of Powell revealed that the FED is planning to push the US into recession to tame inflation deliberately. ETH price could trade off this information as a recession in the US would mean a weaker dollar, and several other central banks have notified markets that they are near ending their tightening path, which means that money conditions could start to normalize again with cash inflow set to restart for cryptocurrencies. On the back of that, ETH price could jump above $1,243.89 and have the field wide open to rally in, with sight set on the base of the bearish triangle from May at $1,649.37. ETH/USD daily chart The delicate equilibrium currently playing with the situation in Ukraine and Russia could easily break down again with the cut-off from supply chains to the Russian enclave Kaliningrad. That could see a Russian military response and ramp up tensions again on the geopolitical stage. That would come with a wave of risk-off again and smash ETH price back to $1,000 and possibly see it slip back below $900 for support. Do not even rule out a test at $830.93 at the pivotal historic level already marked up.

What role does the broker infrastructure model play in your profitability? The layout of a broker's trading infrastructure is usually not something that would capture the attention of too many traders. However, did you know that a surprisingly large number of brokers do not send their clients' trade orders to the real market, but rather create an artificial counterparty themselves are market makers? This creates motivation for order manipulation, which, on the other hand, is indeed something that traders should be interested in. What is the broker infrastructure model? The broker model refers to the way in which a broker's trading infrastructure is built to process the trading orders of its clients. While it may seem that way, when trading, an order entered by you into the platform may not always travel to the interbank market where it is then expected to be paired with an order from another trader or institution. In fact, there are models that do not send your trade orders to the interbank market. Instead, they form a counterparty to your order immediately, on their side. Market maker model (MM) Brokers of this type are usually among the larger ones on the scene. In order to act as a counterparty to all their clients' trades, they need to have a really high level of liquidity. However, this could lend them a fair amount of motivation to meddle with the trading results of their clients. If it is a proven broker without a dark past, there is probably no reason to worry. However, there are known cases where even larger brokerage firms have artificially increased slippages, set minimum stop loss intervals, or influenced their clients' transactions in other similar ways. The reason for this behavior is quite clear. In the MM model, all losing client trades go back to the broker (not to the interbank market, where they would end up in other broker operating models). Thus, brokers built on the MM model may have a vested interest in the loss-making performance of their own clients.   Figure 1: Schematic of the MM broker's operation STP model From the "straight-through processing", brokers of this type have their infrastructure set up in such a way that they can only match their clients' orders with orders from so-called liquidity providers in the interbank market. The broker in this case charges a commission on each trade in the form of a slightly higher spread and matches clients with entities in the real market. Liquidity providers (LP) The quality of an STP broker is largely shaped by the nature of the liquidity providers with which it works.   Another broker operating on a market maker model or a bank. MFT - multilateral trading facility - a type of exchange on which different participants are linked together. Prime of primes - this provider collects prices from the interbank market and combines them with other offers from financial institutions. This LP thus has the ability to provide the best prices to the broker's clients.   Figure 2: Difference between STP and MM broker model Hybrid model Combination of STP and MM models. A broker based on the hybrid model has the ability to send a certain part of client orders to the interbank market and act as a counterparty for the rest. The broker thus has the ability to "get rid" of profitable clients by sending their orders to an external entity. How to find out which model is broker built on? Recognizing a broker's model may not be easy at first as it requires at least a partial orientation on the broker's website. The safe bet, however, is to check the broker's license directly on the Regulators website. The information about the infrastructure model is listed there in black and white. Just look up whether the broker is authorised to "deal on own account". STP model brokerage will not have it there. Figure 3: An example of the types of services Purple Trading can perform under its license (source: https://www.cysec.gov.cy/en-GB/entities/investment-firms/cypriot/72454/) What role does the broker model play in your profitability? While there is no way to equate a broker's model with the profitability of its clients, there are certain things that cannot be overlooked. While an STP broker has the same rate of earnings whether your trade is successful or not (because it profits from spreads), the MM and hybrid models can already benefit from your potential failures. Let's also mention the fact that by forming a counterparty to your trades on their side, these brokers potentially have the motivation to manipulate the market to their advantage. So as a trader, you logically have to wonder whether a broker who has such tools in his hand is not abusing them to enrich himself at your expense.

The Swing Overview – Week 25 There was a rather quiet week in which the major world stock indices shook off previous losses and have been slowly rising since Monday. However, this is probably only a temporary correction of the current bearish trend.  The CNB Bank Board met for the last time in its old composition and raised the interest rate to 7%, the highest level since 1999. However, the koruna barely reacted to this increase. The reason is that the main risks are still in place and fear of a recession keeps the markets in a risk-off sentiment that benefits the US dollar. Macroeconomic data We had a bit of a quiet week when it comes to macroeconomic data in the US. Industrial production data was reported, which grew by 0.2% month-on-month in May, which is less than the growth seen in April, when production grew by 1.4%. While the growth is slower than expected, it is still growth, which is a positive thing.   In terms of labor market data, the number of jobless claims held steady last week, reaching 229k. Thus, compared to the previous week, the number of claims fell by 2 thousand.   The US Dollar took a break in this quiet week and came down from its peak which is at 106, 86. Overall, however, the dollar is still in an uptrend. The US 10-year bond yields also fell last week and are currently hovering around 3%. The fall in bond yields was then a positive boost for equity indices. Figure 1: US 10-year bond yields and USD index on the daily chart   The SP 500 Index The SP 500 index has been gaining since Monday, June 20, 2022. However, this is probably not a signal of a major bullish reversal. Fundamental reasons still rather speak for a weakening and so it could be a short-term correction of the current bearish trend. The rise is probably caused by long-term investors who were buying the dip. Next week the US will report the GDP data which could be the catalyst for further movement.  Figure 2: The SP 500 on H4 and D1 chart   The index has currently reached the resistance level according to the H4 chart, which is in the region of 3,820 - 3,836. The next strong resistance is then in the area of 3,870 - 3,900 where the previous support was broken and turned into the resistance. The current nearest support is 3 640 - 3 670.    German DAX index The manufacturing PMI for June came in at 52.0. The previous month's PMI was 54.8. While a value above 50 indicates an expected expansion, it must be said that the PMI has essentially been declining since February 2022. This, together with other data coming out of Germany, suggests a certain pessimism, which is also reflected in the DAX index. Figure 3: German DAX index on H4 and daily chart The DAX broke support according to the H4 chart at 12,950 - 12,980 but then broke back above that level, so we don't have a valid breakout. Overall, however, the DAX is in a downtrend and the technical analysis does not show a stronger sign of a reversal of this trend yet. The nearest resistance according to the H4 chart is 13,130 - 13,190. The next resistance is then at 13 420 - 13 440. Strong support according to the daily chart is 12,443 - 12,600.   Eurozone inflation at a new record Consumer inflation in the Eurozone for May rose by 8.1% year-on-year as expected by analysts. On a month-on-month basis, inflation added 0.8% compared to April. The rise in inflation could support the ECB's decision to raise rates possibly by more than the 0.25% expected so far, which is expected to happen at the July meeting.  Figure 4: EUR/USD on H4 and daily chart From a technical perspective, the euro has bounced off support on the pair with the US dollar according to the daily chart, which is in the 1.0340 - 1.0370 range and continues to strengthen. Overall, however, the pair is still in a downtrend. The US Fed has been much more aggressive in fighting inflation than the ECB and this continues to put pressure on the bearish trend in the euro. The nearest resistance according to the H4 chart is at 1.058 - 1.0600. Strong resistance according to the daily chart is at 1.0780 - 1.0800.   The Czech National Bank raised the interest rate again Rising inflation, which has already reached 16% in the Czech Republic, forced the CNB's board to raise interest rates again. The key interest rate is now at 7%. The last time the interest rate was this high was in 1999. This is the last decision of the old Bank Board. In August, the new board, which is not clearly hawkish, will decide on monetary policy. Therefore, it will be very interesting to see how they approach the rising inflation.   The current risks, according to the CNB, are higher price growth at home and abroad, the risk of a halt in energy supplies from Russia and generally rising inflation expectations. The lingering risk is, of course, the war in Ukraine. The CNB has also decided to continue intervening in the market to keep the Czech koruna exchange rate within acceptable limits and prevent it from depreciating, which would increase import inflation pressures. Figure 5: The USD/CZK and The EUR/CZK on the daily chart Looking at the charts, the koruna hardly reacted at all to the CNB's decision to raise rates sharply. Against the dollar, the koruna is weakening somewhat, while against the euro the koruna is holding its value around 24.60 - 24.80. The appreciation of the koruna after the interest rate hike was probably prevented by uncertainty about how the new board will treat inflation, and also by the fact that there is a risk-off sentiment in global markets and investors prefer so-called safe havens in such cases, which include the US dollar.  

Image credit: Diverse Stock Photos || Would that those shiny coins were the real thing. Metal coins are real. Code, not so. As I have said before, look at the underlying economics of an investment rather than its external form. It doesn’t matter whether it is public or private. The form of an investment does not affect its returns, for the most part. I grew up in investing as a risk manager within life insurance and fixed income. We faced three main risks: credit, liquidity, and duration. We had lesser risks as well, like FX, sovereigns, convexity, etc. My main goal was to see the firm survive under all reasonable circumstances. My secondary goal was to improve profitability over those same circumstances. In doing that, we could make some small “side bets.” Buy an underpriced Canadian dollar bond. Buy a broken convertible bond of a beaten down company. Buy underpriced MBS where the models are overstating refinancing risk. Things like that. We could not make those side bets too large, but we could put a few on to try to make some money for the firm. We would match assets against our likely liability cashflows. We knew that 99%+ of the time, we would be fine. I can’t imagine what the so-called crypto banks are thinking. Much as they deride banking generally, they don’t have the vaguest idea of what they are doing. They should hire an investment actuary to limit what they do. Imagine a world where banks don’t care about currency risk, and some fail because the temptation to reach for yield causes them to buy asset in currencies that are weak… leading them to lose capital on net. This is the nature of crypto lending and borrowing. As Aristotle might have said, “Crypto is sterile.” It doesn’t produce anything. So don’t lend out crypto for a return… you may lose you principal in the process. There is no good reason why you should earn a return exceeding Treasuries plus 1% in lending crypto. But no one in crypto considers risk control. In one sense, I’m not sure how it could be done, unless you limit yourself to one major cryptocurrency — Bitcoin or Ethereum. The grand questions should be: Can I be sure of making payments over the next three months?Is my leverage low enough that the mélange of assets that I own will be able to cover my liabilities? Is there anything I can do to promote long-term survival? With cryptocurrency banks and stablecoins these concerns are ignored. They take risks that no bank or insurance company would take and with far less capital than would be reasonable. I encourage you to sell your crypto and buy gold, stocks, bonds, and other dollar-denominated assets.

Join our first Trading Week Ahead Live of the month, as ForexAnalytix give you access to their morning market analysis platform, ‘The Flow Show’. Watch Ryan littlestone this coming Monday, 4th July, at 7.30PM AEST (10.30AM BST), as ForexAnalytix delivers their market insight, potential market ideas and opportunities they feel are in play for the upcoming week JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 6th July 2022! Have trouble deciding what to trade? Join Ryan as he delivers his first live market update as ForexAnalytix’s ‘The Flow Show’ takes over the Trade Zone for July. Join Ryan Littlestone, an accomplished trader with 30+ years of trading experience, for a 30-45-minute live stream on Wednesday 6th July at 7.30PM AEDT (10.30AM BST) as he guides you through the trading week. Set a Reminder The Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Join our first Trading Week Ahead Live of the month, as ForexAnalytix give you access to their morning market analysis platform, ‘The Flow Show’. Watch Ryan Littlestone, as he delivers market insight, potential market ideas and the opportunities he feels are in play for the upcoming week. JOIN THIS WEDNESDAY’S LIVE MARKET UPDATE | 6th July 2022! Have trouble deciding what to trade? An accomplished trader with 30+ years of trading experience, Join Ryan as he delivers his first Live Market Update, as ForexAnalytix’s ‘The Flow Show’ takes over the Eightcap Trade Zone for July. Join Ryan, for a 30-45-minute live stream on Wednesday 6th July at 7.30PM AEDT (10.30AM BST) as he guides you through the trading week. Set a Reminder The Eightcap Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Join us this coming Monday for another instalment of our Trading Week Ahead Live in partnership with the ForexAnalytix ‘The Flow Show’, to deliver you more expert market insight. Watch Ryan Littlestone, Managing Director and market expert at ForexAnalytix as as he takes you through the news and moves from the Asia and early European sessions, and looks to plan for the upcoming week.  JOIN THIS WEDNESDAY’S FOR OUR SECOND LIVE MARKET UPDATE | 13th July 2022! Be inspired by our expert! Watch Ryan as ForexAnalytix’s ‘The Flow Show’ takes the Eightcap Trade Zone helm this July. Join Ryan, ForexAnalytix Managing Director and a veteran trader with 30+ years of trading experience, as he hosts a 30-45 minute live stream on Wednesday 13th July at 7.30PM AEDT (10.30AM BST), as he takes you through his mid-week review. Set a Reminder The Eightcap Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Join us for another instalment of our Trading Week Ahead Live, in partnership with the ForexAnalytix ‘The Flow Show’, as we deliver more expert market insight. Watch Ryan Littlestone, Managing Director and market expert at ForexAnalytix, as he takes you through the news and moves from the Asian and early European sessions, and looks to plan for the upcoming week.  JOIN THIS WEDNESDAY’S FOR OUR SECOND LIVE MARKET UPDATE | 13th July 2022! Be inspired by our expert! Watch Ryan as ForexAnalytix’s ‘The Flow Show’ takes the Eightcap Trade Zone helm and provides your mid-week Live Market update. Join him as he hosts another 30-45 minute live stream on Wednesday 13th July at 7.30PM AEDT (10.30AM BST), as he updates you with the news and moves made since Monday’s Trading Week Ahead. Set a Reminder The Eightcap Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Join us for the penultimate episode of our Trading Week Ahead Live, in partnership with the ForexAnalytix, as we look to finish off the month strongly and deliver more expert live market analysis. Watch Ryan Littlestone, market expert, Managing Director, and host of the ForexAnalytix ‘The Flow Show’, as he takes you through the news and moves from the Asian and early European sessions, and continues to help you to plan for the upcoming week.  JOIN US THIS WEDNESDAY FOR OUR PENULTIMATE LIVE MARKET UPDATE OF THE MONTH | 20th July 2022! Secure your place to see how an expert prepares for the week’s market activity! Join Ryan as ForexAnalytix’s ‘The Flow Show’ continues to take control of the Eightcap Trade Zone and provide you with his penultimate mid-week Live Market update of the month. Watch his 30-45 minute live stream on Wednesday 13th July at 7.30PM AEDT (10.30AM BST), as he explores the news and moves, seeks trade ideas, and analyses the market progress since Monday’s Trading Week Ahead. Set a Reminder The Eightcap Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Relevance up to 09:00 2022-07-16 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Navin Jain, director of Mastercard Indonesia, said Mastercard will support Fasset's efforts to promote financial integration in the country. Financial services company Mastercard has partnered with crypto gateway provider Fasset to jointly develop digital solutions that can drive adoption in Indonesia. The cooperation is aimed at expanding financial integration in the country and expanding the possibilities of the local economy. In a release, Navin Jain, national director of Mastercard Indonesia, said the collaboration would support Fasset's efforts to foster financial integration in the country. According to Jain, the partnership will help residents gain greater access to digital technology. Hendra Suryakusuma, director of Fasset, said there are 92 million people in Indonesia who do not have a bank account. Fasset and Mastercard will fill this gap, according to Suryakusuma, to ensure better access to digital financial services. Technical Market Outlook: The ETH/USD pair is back inside the channel and the bulls really want to test the supply zone located between the levels of $1,255 - $1,281. The momentum is at the level of 50 points already, so the bulls might soon break back inside the positive territory as well. The intraday technical support is seen on the level of $1,071 and $1,114. The larger time frame trend remains down and as long as the key short-term technical resistance, located at the level of $1,281, is not clearly violated, the outlook remains bearish.     Weekly Pivot Points: WR3 - $1,466 WR2 - $1,412 WR1 - $1,321 Weekly Pivot - $1,181 WS1 - $1,090 WS2 - $950 WS3 - $718 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 12th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/284644

Another mixed week traders. We started the week with declines that started last weekend and dragged into the week as sellers looked to have taken control. In a positive twist, buyers emerged on Wednesday and stopped the move lower. We saw an average-looking spinner bar that day, but it shifted momentum, and buyers set up a nice day on Thursday with just over 7% added to the top 10 and 7.90% to the top 25. The week centred on the continuing fallout from what’s been dubbed “the Crypto Winter” and the collapses of Three Arrows and Celsius. These two were big players in the industry, and their failures are still sending jitters through the industry. Things look bleak for leaders of TAC, as with last reports suggesting outstanding loans won’t be able to be repaid. Reports also noted the directors of TAC could have gone into hiding. Both were reported by articles on CNBC this week. Continuing to move on with the positive, today we’re seeing price continue its rebound with new two-day highs on the CRYPTO10 and CRYPTO25 indexes. As usual, opinions are divided on whether we will see a new extension lower or if we could be in a technical pause that could turn into a rebound. We are going to break down bitcoin and put forward or ideas on what we would like to see happen, to say yes, we could have a rally or the warning signs that we could see a new extension lower. There is talk from other analysts that Bitcoin could still have to make one more leg lower before it could find a bottom. The general lower price area is seen from 15,000 – 13,000. This is a slightly longer outlook for Bitcoin, but we feel that the current position and pattern is important not only for the next step in BTC but also for Crypto, as we all know that Bitcoin still drives most of the top caps in the market. Incorporating some of the points above about one more leg down this can be seen in the chart with price currently sitting in a consolidation pattern in two downtrends. We can see a triangle around the current consolidation, but we can also see two clear key levels of support and demand holding the current price action. Price has also lined up nicely with a return to the faster downtrend. The OBV also shows a pattern we have seen in the recent declines. And like price the OBV has also returned to its downtrend. So it is rather simple for us, break the triangle and break support. We could be seeing the start of a new extension lower. If buyers can break above resistance and through the fast downtrend, we could be looking at a deeper move higher. The post Crypto Focus: We’re seeing price continue its rebound appeared first on Eightcap.

The Swing Overview – Week 28 2022 This week's new record inflation readings sent a clear message to central bankers. Further interest rate hikes must be faster than before. The first of the big banks to take this challenge seriously was the Bank of Canada, which literally shocked the markets with an unprecedented rate hike of a full 1%. This is obviously not good for stocks, which weakened again in the past week. The euro also stumbled and has already fallen below parity with the usd. Uncertainty, on the other hand, favours the US dollar, which has reached new record highs.   Macroeconomic data The data from the US labour market, the so-called NFP, beat expectations, as the US economy created 372 thousand new jobs in June (the expectation was 268 thousand) and the unemployment rate remained at 3.6%. But on the other hand, unemployment claims continued to rise, reaching 244k last week, the 7th week in a row of increase.   But the crucial news was the inflation data for June. It exceeded expectations and reached a new record of 9.1% on year-on-year basis, the highest value since 1981. Inflation rose by 1.3% on month-on-month basis. Energy prices, which rose by 41.6%, had a major impact on inflation. Declines in commodity prices, such as oil, have not yet influenced June inflation, which may be some positive news. Core inflation excluding food and energy prices rose by 5.9%, down from 6% in May.   The value of inflation was a shock to the markets and the dollar strengthened sharply. We can see this in the dollar index, which has already surpassed 109. We will see how the Fed, which will be deciding on interest rates in less than two weeks, will react to this development. A rate hike of 0.75% is very likely and the question is whether even such an increase will be enough for the markets. Meanwhile, there has been an inversion on the yield curve on US bonds. This means that yields on 2-year bonds are higher than those on 10-year bonds. This is one of the signals of a recession. Figure 1: The US Treasury yield curve on the monthly chart and the USD index on the daily chart   The SP 500 Index Apart from macroeconomic indicators, the ongoing earnings season will also influence the performance of the indices this month. Among the major banks, JP Morgan and Morgan Stanley reported results this week. Both banks reported earnings, but they were below investor expectations. The impact of more expensive funding sources that banks need to finance their activities is probably starting to show.   We must also be interested in the data in China, which, due to the size of the Chinese economy, has an impact on the movement of global indices. 2Q GDP in China was 0.4% on year-on-year basis, a significant drop from the previous quarter (4.8%). Strict lockdowns against new COVID-19 outbreaks had an impact on economic situation in the country. Figure 2: SP 500 on H4 and D1 chart The threat of a recession is seeping into the SP 500 index with another decline, which stalled last week at the support level, which according to the H4 is in the 3,740-3,750 range. The next support is 3,640 - 3,670.  The nearest resistance is 3,930 - 3,950. German DAX index The German ZEW sentiment, which shows expectations for the next 6 months, reached - 53.8. This is the lowest reading since 2011. Inflation in Germany reached 7.6% in June. This is lower than the previous month when inflation was 7.9%. Concerns about the global recession continue to affect the DAX index, which has tested significant supports. Figure 3: German DAX index on H4 and daily chart Strong support according to the daily chart is 12,443 - 12,500, which was tested again last week. We can take the moving averages EMA 50 and SMA 100 as a resistance. The nearest horizontal resistance is 12,950 - 13,000.   The euro broke parity with the dollar The euro fell below 1.00 on the pair with the dollar for the first time in 20 years, reaching a low of 0.9950 last week. Although the euro eventually closed above parity, so from a technical perspective it is not a valid break yet, the euro's weakening points to the headwinds the eurozone is facing: high inflation, weak growth, the threat in energy commodity supplies, the war in Ukraine. Figure 4: EUR/USD on H4 and daily chart Next week the ECB will be deciding on interest rates and it is obvious that there will be some rate hike. A modest increase of 0.25% has been announced. Taking into account the issues mentioned above, the motivation for the ECB to raise rates by a more significant step will not be very strong. The euro therefore remains under pressure and it is not impossible that a fall below parity will occur again in the near future.   The nearest resistance according to the H4 chart is at 1.008 - 1.012. A support is the last low, which is at 0.9950 - 0.9960.   Bank of Canada has pulled out the anti-inflation bazooka Analysts had expected the Bank of Canada to raise rates by 0.75%. Instead, the central bank shocked markets with an unprecedented increase by a full 1%, the highest rate hike in 24 years. The central bank did so in response to inflation, which is the highest in Canada in 40 years. With this jump in rates, the bank is trying to prevent uncontrolled price increases.   The reaction of the Canadian dollar has been interesting. It strengthened significantly immediately after the announcement. However, then it began to weaken sharply. This may be because investors now expect the US Fed to resort to a similarly sharp rate hike. Figure 5: USD/CAD on H4 and daily chart Another reason may be the decline in oil prices, which the Canadian dollar is correlated with, as Canada is a major oil producer. The oil is weakening due to fears of a drop in demand that would accompany an economic recession. Figure 6: Oil on the H4 and daily charts Oil is currently in a downtrend. However, it has reached a support value, which is in the area near $94 per barrel. The support has already been broken, but on the daily chart oil closed above this value. Therefore, it is not a valid break yet.  

Join us for the penultimate episode of our Trading Week Ahead Live, in partnership with the ForexAnalytix, as we look to finish off the month strongly and deliver more expert live market analysis. Watch Ryan Littlestone, market expert, Managing Director, and host of the ForexAnalytix ‘The Flow Show’, as he takes you through the news and moves from the Asian and early European sessions, and continues to help you to plan for the upcoming week.  JOIN US THIS WEDNESDAY FOR OUR PENULTIMATE LIVE MARKET UPDATE OF THE MONTH | 20th July 2022! Secure your place to see how an expert prepares for the week’s market activity! Join Ryan as ForexAnalytix’s ‘The Flow Show’ continues to take control of the Eightcap Trade Zone and provide you with his penultimate mid-week Live Market update of the month. Watch his 30-45 minute live stream on Wednesday 13th July at 7.30PM AEDT (10.30AM BST), as he explores the news and moves, seeks trade ideas, and analyses the market progress since Monday’s Trading Week Ahead. Set a Reminder The Eightcap Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Relevance up to 09:00 2022-07-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The European Central Bank has expressed concerns about the significant carbon footprint of PoW mining, while pointing to a possible ban on such assets. In an article published earlier this week, bank researchers argued that Bitcoin and Ethereum both have a significant carbon footprint. Reportedly, they consume similar amounts of energy every year as medium-sized countries, including Spain and Austia. Experts also talked about Proof-of-Stake. According to the report, a PoS-based cryptocurrency would require as much energy as a small American town with around 2,100 homes. The article notes that the benefits Bitcoin brings to society is "questionable" while blockchain may have potential benefits. Using analogies, ECB experts described PoW as a cryptographic version of fossil fuel cars and PoS as electric vehicles. Blockchains like Ethereum are already working on the transition from Proof-of-Work to Proof-of-Stake, where the process is expected to be completed by 2023. Meanwhile, ECB experts believe it is "unlikely" that Bitcoin will soon migrate to PoS. Nevertheless, the article states that the transition to renewable energy requires political and social initiatives regarding energy sources and consumption. According to experts, such decisions would favor certain actions and pose a risk to the value of crypto assets. The report also argued that PoW-based crypto assets are inconsistent with environmental, social, and governance (ESG) goals. Therefore, investors need to research whether investing in specific cryptocurrencies is in line with their ESG investment strategy. This is why Tesla has not accepted Bitcoin as payment for goods and services as of May 2021. According to Elon Musk, the company will resume BTC payments when Bitcoin miners start using more than 50% of green energy for their operations. Technical Market Outlook: The ETH/USD pair had broken above the supply zone located between the levels of $1,255 - $1,281 and made a new local high at the level of $1,462 (at the time of writing the article). The momentum is at the level of 65 points already, so the bulls are now controlling the market. The intraday technical support is seen on the level of $1,319 and $1,281. The larger time frame trend remains down, however the recent breakout might be a beginning of a bigger bounce even towards the level of $1,750.     Weekly Pivot Points: WR3 - $1,617 WR2 - $1,509 WR1 - $1,470 Weekly Pivot - $1,401 WS1 - $1,362 WS2 - $1,294 WS3 - $1,185 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 13th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/284844

Join us for the last Trading Week Ahead Live of the month with the ForexAnalytix ‘The Flow Show’, hosted by Ryan Littlestone. Watch the live stream as Ryan provides you with news updates and market insight from the earlier Asian and early European sessions to help you plan your upcoming trading week.  JOIN US THIS WEDNESDAY FOR OUR PENULTIMATE LIVE MARKET UPDATE OF THE MONTH | 27th July 2022! Prepare for the week’s market movements with an accomplished industry expert. Tune into the last Eightcap Trade Zone Live Market update of the month. Join us on Wednesday 27th July, at 7.30PM AEDT (10.30AM BST) for a 30-45 minute live stream as Ryan delivers his final mid-week update. Reviewing the news, moves, and market progress made since Monday’s Trading Week Ahead. Set a Reminder The Eightcap Trade Zone is the perfect place to get the help and support you need to improve your skills and understanding of the financial markets. So come join Eightcap and ForexAnalytix this month on the Trade Zone as we explore more of the markets together – Please remember to trade safely! The post Trading Week Ahead Live in Partnership with ForexAnalytix ‘The Flow Show’ appeared first on Eightcap.

Relevance up to 07:00 2022-07-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: Dubai - one of the largest innovation hubs and the host of Expo 2022 is not slowing down in its efforts to become the most open to blockchain country in the world. In a recently published development strategy, Dubai strongly focuses on one of the most popular trends today - the Metaverse. Prince bin Mohammed's roadmap for the coming years aims to set the standard for other countries willing to engage in the development of Web 3.0. Currently, Dubai is home to over 1,000 companies operating in various branches of blockchain technology, which together contribute to the emirate's budget with a significant amount of USD 500 million annually. The ambitious plan assumes that Dubai will achieve three milestones by the end of 2027: 1. Creation of 40,000 new jobs in the blockchain sector, mainly in the development of Metaverse. 2. Increasing the number of companies operating in the crypto sector to at least 5,000. 3. Contribution to the emirate's budget with revenues of $ 4 billion from the cryptocurrency sector. One of the proofs of how seriously Dubai is taking its plans is the announcement of the opening of the world's first Metaverse Hospital. Thanks to the applied 3D and Virtual Reality technologies, patients who are permanently or for a longer period of time in bed will be able to take virtual walks or even participate in sports activities, which is to positively affect the rehabilitation process. According to the assurances of Prince bin Mohammed, Dubai intends to expand its infrastructure and refine its laws and regulations so that investing in this emirate becomes an obvious choice for companies from the blockchain sector. Technical Market Outlook: The ETH/USD pair had paused the rally at the level of $1,631, just ahead of the key short-term technical resistance located at $1,710. The momentum is at the level of 70 points already, so the bulls are now fully controlling the market, however the market conditions are now extremely overbought. The intraday technical support is seen on the level of $1,319 and $1,281. The larger time frame trend remains down, however the recent breakout might be a beginning of a bigger bounce even towards the level of $1,750.     Weekly Pivot Points: WR3 - $1,617 WR2 - $1,509 WR1 - $1,470 Weekly Pivot - $1,401 WS1 - $1,362 WS2 - $1,294 WS3 - $1,185 Trading Outlook: The down trend on the H4, Daily and Weekly time frames had broken below the key long term technical support seen at the level of $1,420 and bears continue to make new lower lows with no problem whatsoever. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the levels below $1,000, like the last swing low seen at $880. Please notice, the down trend is being continued for the 13th consecutive week now.   Read more: https://www.instaforex.eu/forex_analysis/285556

Table of Contents: · What is Ethereum? · What milestones has Ethereum achieved since its 6th anniversary? · What is the Merge? · Why is the Merge important? · What might happen in the future? · Closing thoughts Ethereum ushered in a new era in blockchain technology. Unlike Bitcoin, which serves as a distributed ledger for peer-to-peer transactions, Ethereum features smart contracts. Smart contracts provide the building blocks for decentralized applications (dApps).   Through dApps, the blockchain went from being just a decentralized, immutable, and transparent ledger to becoming a global network that supports a wide range of use cases. For instance, there are dApps for lending and borrowing cryptocurrencies, gaming, and exchanging tokens, to mention a few.   The Ethereum network primarily supports ETH, the second-largest cryptocurrency capitalization. Like Bitcoin, Ethereum currently relies on a Proof-of-Work (PoW) consensus model to verify transactions. To this end, Ethereum miners that validate transactions get mining rewards.   However, the PoW consensus mechanism has, over the years, come under fire for being energy intensive. Environmentalists argue that PoW mining takes a toll on the climate, especially when miners use fossil fuels to power their rigs.   As a result, Ethereum began transitioning to a Proof-of-Stake (PoS) model. PoS relies on a user’s stake instead of power. This feature makes it 99% more effective than PoW. By transitioning to PoS, Ethereum seeks to become more sustainable and eco-friendly.   What Milestones Has Ethereum Achieved Since Its 6th Anniversary? Following Ethereum’s sixth anniversary on July 30, 2021, Ethereum has implemented four upgrades on its journey to becoming a PoS blockchain. These are London, Altair, Arrow Glacier, and Gray Glacier.   London came first on August 5, 2021 on block number 12,965,000. This upgrade introduced EIP-1559, which changed the transaction pricing mechanism to include a fixed per-block fee, which the network burns. This pricing mechanism also expands or contracts block sizes to deal with congestion, thus increasing mining speed.   Altair was the first scheduled upgrade for Ethereum’s Beacon Chain, and it shipped on October 29, 2021. This fork added support for sync communities. It enabled light clients, which helped reduce the overhead needed to determine the head of the chain, thus increasing the network’s decentralization.   Arrow Glacier shipped on December 9, 2021. This upgrade postponed Ethereum’s difficulty bomb for several months, offering developers more time to develop ETH 2.0. The difficulty bomb forces the Ethereum PoW network to stop issuing blocks, making mining disadvantageous for miners and discouraging network users from using the PoW mining when the network switches to PoS.   Gray Glacier shipped on June 30, 2022, and it delayed the difficulty bomb by three months.   In between the upgrades, ETH recorded a significant milestone in its price history. On November 16, ETH set a new all-time high (ATH) of $4,891.   Additionally, the number of unique Ethereum addresses soared from 164.73 million to 201.37 million as of July 21. This denotes an average growth rate of 144.1 million.   What is the Merge? The Merge is the most significant update in Ethereum’s history. This upgrade represents when Ethereum will transition to a PoS network. Following this upgrade, the current Ethereum mainnet will merge with its new PoS consensus layer, dubbed the Beacon Chain.   The Beacon Chain shipped separately from the Ethereum mainnet in December 2020. Since then, it has been running parallel to the mainnet as a different blockchain network. This means the Beacon Chain has not been recording mainnet transactions. Instead, it reaches a consensus by agreeing on active validators and their account balances.   Why is the Merge Important？ When the Merge ships, the Ethereum mainnet and Beacon Chain will become one, marking Ethereum’s transition to a PoS model. The update is expected to ship in Q3 or Q4 2022. Ethereum has carried out extensive testing to ensure the network seamlessly transitions to PoS when the Merge ships.   After the Merge, the Beacon Chain will become Ethereum’s consensus engine. This means the role of generating valid blocks will shift from miners to PoS validators.   It is worth noting that Ethereum’s history will remain intact even after the Beacon Chain becomes the consensus engine. As such, ETH holders don’t need to worry about funds disappearing from their wallets after the network shifts to PoS.   What Might Happen in the Future? After the Merge, Ethereum’s developers plan to continue developing the network until it is powerful enough to help all of humanity. According to Ethereum co-founder Vitalik Buterin, the Merge would only make Ethereum 55% complete.   The network’s future upgrades include, but are not limited to, a four-part fork that developers have dubbed “surge, verge, purge, and splurge.” This upgrade is set to introduce more security and decentralization to Ethereum after it shifts to a PoS model.   Buterin believes the end of Ethereum’s roadmap will result in a more scalable blockchain network. He projects that Ethereum should be able to complete 100,000 transactions per second by the end of its development journey. This will be a massive milestone for the blockchain, which currently processes about 15 transactions per second.   Closing Thoughts By transitioning to PoS, Ethereum will undergo significant changes. While scalability comes as a perk, Ethereum will become less decentralized, meaning the network’s security will also take a hit. However, by embracing careful design choices, Ethereum can minimize the impact of drifting from what it initially set out to become; a decentralized and open blockchain network.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: Ethereum Celebrates Its Seventh Anniversary And the Coming Merge| KuCoin

Table of Contents: What is a wrapped token? How do wrapped tokens work? Examples of wrapped tokens Wrapped tokens on Ethereum Benefits of using wrapped tokens Deposit, Withdraw & Trade Wrapped Tokens Closing thoughts Decentralized finance (DeFi) is rapidly disrupting the financial sector by offering trustless banking. However, it also faces multiple challenges that hinder its mass adoption. At the moment, one of the most significant obstacles is insufficient liquidity.   For instance, Bitcoin (BTC) has the largest market cap in the crypto market - (around $420 billion). However, its blockchain does not support smart contracts and hence does not support DeFi. On the other hand, the Ethereum blockchain supports the highest number of DeFi protocols. Nonetheless, the market cap of its native token, ETH, currently sits at $186 billion.   With DeFi relying on users to provide liquidity, it is imperative to have cross-chain interoperability, a necessity that has proven a tough nut to crack.   Thus far, efforts to make blockchain networks interoperable have seen developers create wrapped tokens. These tokens can function on different blockchain networks, introducing some aspect of cross-chain interoperability.   What is a Wrapped Token? A wrapped token is a cryptocurrency pegged to another cryptocurrency in a 1:1 ratio. Simply put, the price of the wrapped token always equals that of the underlying coin. To this end, wrapped token holders can redeem them for the original asset at any given time.   The wrapped token and the original token run on different blockchains, with the prior running on blockchains that support DeFi. This feature ensures that wrapped tokens create a bridge between incompatible blockchain networks. Consequently, this interoperability helps introduce more liquidity to DeFi protocols, boosting the utility of cryptocurrencies.   How Do Wrapped Tokens Work? To get wrapped tokens, users can create them by wrapping them on their own or purchasing them from centralized or decentralized crypto exchanges.   Wrapping tokens involves finding merchants for a specific token and transferring the tokens to them. The merchants then transfer the digital assets to a custodian who mints their wrapped versions in a 1:1 ratio and stores the underlying tokens in a digital vault.   After putting their wrapped tokens to use, a user can redeem them by requesting the merchant to send the custodian a burning request for a given amount of the tokens. Finally, the custodian destroys the wrapped tokens and returns the original assets to the user.   The custodian records all minting and burning transactions on-chain for transparency, ensuring that wrapped tokens always maintain their 1:1 peg to the underlying asset.   Examples of Wrapped Tokens The need to bridge the Bitcoin and Ethereum networks saw developers team up to create wrapped Bitcoin (wBTC), an ERC-20 version of BTC. wBTC is the most popular wrapped token and is currently the 18th-largest cryptocurrency by capitalization, with a market cap of over $5 billion. Needless to say, wBTC is the largest wrapped token.   The second largest wrapped token is renBTC, an ERC-20 token, which is part of the Ren Protocol. renBTC has a market cap of over $80 million. renBTC serves the same purpose as wBTC.   Wrapped NXM (wNXM) is the third-largest wrapped token by market capitalization. The token allows users to trade NXM, the native token of the Nexus Mutual platform, outside the protocol.   There are over 20 wrapped tokens in the crypto market, and they have a market cap of $5.31 billion.   Wrapped Tokens on Ethereum An interesting example of a wrapped token on Ethereum is wrapped Ethereum (wETH). Although creating a wrapped version of ETH seems to defy logic, it is worth noting ETH arrived before the network introduced the ERC-20 standard for issuing tokens. As such, ETH is not ERC-20 compliant.   To this end, developers created wrapped Ethereum (wETH) to simplify using ETH in DeFi. With the bulk of DeFi activity being on Ethereum, most dApps require users to swap ETH with ERC-20 tokens, and wETH streamlines this process.   Other wrapped tokens on Ethereum include wBTC, wNXM, wDGLD, and wCRO, among other ERC-20-compliant tokens that run on blockchains other than Ethereum.   Benefits of Using Wrapped Tokens Wrapped tokens increase the utility of cryptocurrencies by expanding the number of blockchains they can run on. As utility increases, the value of crypto networks rises, helping to expedite the maturity of the nascent asset class.   Through wrapped tokens, crypto holders can put their digital assets to use by lending them out through DeFi protocols to earn interest. Crypto holders can also stake the tokens and provide the DeFi sector with liquidity. In return, DeFi protocols offer stakers high yields.   Wrapped tokens also help minimize the transaction costs and times. For instance, using a wrapped version of BTC on a scalable blockchain network would significantly cut costs and ensure faster transaction times.   How to Deposit, Withdraw & Trade Wrapped Tokens Deposit and withdrawal functions are available from exchanges that support the wrapped tokens. For instance, KuCoin supports some wrapped tokens deposit and withdrawal, such as WBTC.   ​​In general, a wrapped token may not have a separate trading pair. For the purpose of consolidating liquidity, centralized exchanges will credit tokens based on different blockchains as its native token, similar to USDT on Tron and Ethereum are both credited as USDT. However, there are exceptions like WBTC, which has separate trading pairs like WBTC/BTC.   Closing Thoughts Wrapped tokens play a significant role in creating bridges between various blockchains. Furthermore, this interoperability helps provide DeFi and the broader crypto space with ample liquidity because networks can easily share the amount of capital locked in them.   Although wrapped tokens currently run on the centralized models, which require users to trust merchants and custodians, the future might present completely trustless options, helping the crypto space put the power back in users’ hands.   Find The Next Crypto Gem On KuCoin! Download KuCoin App>>> Sign up on KuCoin now>>> Follow us on Twitter>>> Join us on Telegram>>> Join the KuCoin Global Communities>>> Subscribe to YouTube Channel>>> Source: What Are Wrapped Tokens and How Do They Work?| KuCoin

Strong US jobs data revived the Federal Reserve (Fed) hawks on Friday. The US 10-year yield jumped, and the US dollar gained. Gold gave back a part of gains, and US stocks closed in the negative, although the three major US indices closed the first week of August in the positive. S&P 500   Now, the S&P500 is nearing an important technical level near 4180 level, the peak reached in June, and the short-term direction will mostly depend on this week’s inflation data, due Wednesday. Crude oil kicks off the week slightly upbeat, below the $90 level. News that China started mass testing in the Hainan beach resort comes as a warning that China is still not done with its fight against Covid.    Crude Oil Last week, OPEC increased the production outlook by a laughable, and a completely meaningless 100’000 barrels per day. That’s about 0.1% of the global oil output. But the recession fears and the slowing demand will likely continue driving the market; we could see a further downside pressure on oil prices. On corporate front, Coinbase, Disney, Honda, Coupang, and Rivian will be revealing their latest quarterly earnings. On political front, the US Senate passed a landmark tax, climate and health-care bill, which includes tax credits for EV purchases & green energy incentives. In cryptocurrencies, Ethereum prepares for its final test before the Merge update! Watch the full episode to find out more! 0:00 Intro 0:27 Confusingly strong NFP data 3:23 Why the markets rallied in July? 4:54 Inflation is key for direction 5:55 Crude oil under pressure 7:01 Earnings calendar 7:20 US Senate passes bill to support EV & green energy 8:33 Ethereum’s final test before Merge update Ipek Ozkardeskaya Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #NFP #Fed #hawks #USD #XAU #Gold #inflation #data #crude #oil #Coinbase #Honda #Coupang #Rivian #earnings #US #climate #bill #Tesla #green #energy #Ethereum #Merge #test #Bitcoin #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH

Relevance up to 09:00 2022-08-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum remains the main conductor of liquidity in the cryptocurrency market. Unlike Bitcoin, Ethereum has been showing a steady upward movement that has been going on for five weeks in a row. At the same time, it is important to note that over the past three weeks, a negative downward trend in buying activity has formed. This is displayed on the body of a bullish candle, which closed at parity between buyers and sellers between August 1 and 7. It is likely that after a period of a long upward movement, the asset will need a correction.     Unlike the situation with BTC, Ethereum's on-chain metrics point to a strong upward trend foundation. The number of unique addresses in the asset network continues to grow, and the fall over the weekend was not significant. This suggests that retail investors are actively participating in trading on the ETH network. This is partly due to the general hype around the coin, but to a greater extent, it is the merit of the fallen commissions in the cryptocurrency network.     The main difference between ETH on-chain metrics and BTC metrics is that the trading activity in the network of the main altcoin remains at a high level. The growing number of unique addresses in the cryptocurrency network is underpinned by a steady increase in intraday trading volumes. Therefore, the upward trend of the ether is more stable and justified. This is exactly what we see on the weekly timeframe, where the price has been continuously rising for five weeks.     Another important signal for the continuation of the upward movement of Ethereum is the completion of the "cup and handle" pattern. The asset managed to break through the $1700 level and thus complete the formation of the pattern. If the current market situation persists, the potential for the upward movement of Ethereum reaches the level of $2800. However, there is a possibility that before the pattern is realized, ETH/USD will go to a local correction.     If you look at the technical indicators of the cryptocurrency on the daily chart, you can see that dangerous borders are being reached. The RSI index ended the previous trading week above the level of 60 and continues its upward movement. The stochastic oscillator reached 80 in the previous week. As of August 8, the metric formed another bullish crossover above 80, which is a sign of overheating of the Ethereum market.     Given the readings of the main metrics, we can conclude that the asset has reached or is approaching the overbought state. This usually happens when the metrics are above 80. However, in the case of Ethereum, it is also important to consider the asset's significantly increased inflation rate due to the influx of users and low transaction fees.     Considering the options for a possible correction in ETH/USD, several targets need to be identified. The first target is located at the level of $1600, and taking into account the minimum amount of time that the asset spent here, this milestone will be broken. The next target is the range of $1400–$1450, and judging by the long period of consolidation, this is where the main stage of the correction will end.     However, it is important to take into account external factors, including the dynamics of the movement of BTC, stock indices, and macroeconomic events. Taking this into account, it is not possible to suggest a probable level of completion of the correction. But there is no doubt that the ether needs a pause to maintain the current trend.   Read more: https://www.instaforex.eu/forex_analysis/318304

Relevance up to 09:00 2022-08-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. With each passing week, Ethereum is getting closer and closer to the key mark of $2000. Despite a certain decrease in buying activity and the realization of most of the bullish potential, Ethereum continues to maintain leadership among the major cryptocurrencies. Over the past 24 hours, the asset has risen in price by 2%, and the weekly increase was 11%. At the same time, the ether approached the lower border of the $1800–$2100 resistance area. The asset will have a serious trade in this range, which will certainly lead to increased volatility and wandering between support and resistance zones.     The main catalyst for the upward movement of the altcoin is the institutional audience, actively fed by the representatives of the project with rosy promises. Ethereum co-founder Vitalik Buterin said that after the transition of the ether to the PoS algorithm, the popularity of crypto payments can grow significantly. The entrepreneur attributes this to the improvement in transaction per second throughput since the final Ethereum upgrade. Buterin is sure that the main altcoin can process more than 100,000 transactions per second. This was big news, which strengthened the position of Ethereum in the eyes of institutional players.     The current position of Bitcoin is also one of the reasons for the increased interest in Ethereum. The main cryptocurrency is stuck near the $24k level and cannot overcome it, also due to low trading volumes. Institutions are also well aware of the dependence of BTC on inflation and stock indices. The combination of these factors makes Bitcoin less attractive to big capital, as the asset does not have the fundamental support for a meaningful bullish rally. The transition to PoS is the very ETH argument that allows the asset to win the competition in terms of attractiveness from Bitcoin at the current stage.     The Ethereum update also provokes far-reaching and positive forecasts from the main representatives of the crypto industry. Former BitMEX CEO Arthur Hayes believes that by the end of the first quarter of 2023, ETH/USD will reach $5000. In addition to switching to PoS, Hayes highlights the Fed's monetary easing as the main benefit of the altcoin. The entrepreneur is confident that after the PoS update, Ethereum will temporarily take the place of Bitcoin in terms of investment attractiveness. Hence, the conclusion that easing monetary policy will have a better effect on ETH, not BTC.     To develop Hayes' idea, it is worth adding two important theses that allow us to argue that Ethereum will go up in the fall. The first factor concerns the US elections in November. The government will probably try to create an appropriate economic climate. The technical recession of the economy due to the hawkish policy of the Fed clearly does not apply here. The second factor is based on Fed Chairman Jerome Powell's statement that the rate will reach a neutral level by the end of 2022. Given these two factors, it is likely that following the final migration of the network and the transition of dApps to PoS algorithms, Ethereum will receive investment fuel from the US government.     In technical terms, the asset took a break after an unsuccessful assault on $1800. The bears defended the level and pushed the buyers to the nearest support at $1750. The RSI index and the stochastic oscillator are becoming flat, which indicates the need for local consolidation. There is also pressure coming from Bitcoin, which failed its $24k assault. The combination of these factors indicates that the next stage of strong growth will begin after the publication of the CPI report. Until then, the asset is likely to continue consolidating.   Read more: https://www.instaforex.eu/forex_analysis/318420

Relevance up to 09:00 2022-08-12 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. As expected, Ethereum became the primary beneficiary of fundamental positive news. The cryptocurrency took advantage of the general euphoria and rose by 12% over the past day. The weekly increase in ETH/USD quotes reached 15.5%. The main altcoin finally consolidated above the $1800 level and rapidly jumped to the $1900 mark. It is likely that if the current bullish momentum continues, ETH will be able to reach the $2000 level for the first time since May 2022.     Ethereum continues its upward movement, taking advantage of positive inflation statistics, which fell below expectations to 8.5%. A gradual decrease in inflation in annual terms indicates the likelihood of curtailing aggressive monetary policy as early as autumn 2022. It is a positive signal for the cryptocurrency market since, after tightening, a pullback to neutral positions will begin. This process will facilitate access to liquidity and, accordingly, will help the birth of a bullish rally. However, in most cases, the main benefit from monetary easing is given to Bitcoin.     In the current market situation, everything has changed dramatically. Bitcoin is fading into the background, and Ethereum is becoming the main driving force behind the cryptocurrency market. The main altcoin has been the main investment target of large funds over the past months. This is due to the transition of the coin to the PoS algorithm and the positive changes that will follow. In other words, Ethereum has fundamental growth reasons that provide continued investment interest. Bitcoin cannot boast of this, and therefore grows exclusively on positive fundamental news.     The growing interest in Ethereum can be seen in the level of Bitcoin dominance in the market. The indicator is in a downward trend, indicating the interest of investors in other digital coins. The indicator began to seriously decline at the end of July and peaked in August. During this period, the informational hype around the transition of Ethereum to PoS reached its maximum. Over the same period, the level of ETH dominance has grown significantly and, as of August 11, reached 20.24%. This is direct evidence of the flow of investments from BTC to ETH.     It also indirectly indicates that the main altcoin will become the primary investment target of the market in the coming weeks. Ethereum received macroeconomic positives in addition to the upcoming update, which will also affect the bullish movement of the cryptocurrency price. The largest issuers of stablecoins, Tether and Circle, have declared full support for the transition of ETH to the Proof-of-Stake protocol. There are also several testnet mergers planned for August, including the successful migration of Goerli to PoS, which should reinforce the fundamental positive for ETH.     In technical terms, the asset has again reached the overbought level. The stochastic oscillator formed and realized a bullish crossover, due to which the indicator reached the level of 100. The relative strength index came close to 80 and maintains an upward direction, which indicates an increase in buying activity. Ethereum entered a strong resistance area for the first time, and you should not expect its bullish breakdown on the first try. Most likely, we are waiting for a local correction and a short period of consolidation before a full-fledged assault on $2000.   Read more: https://www.instaforex.eu/forex_analysis/318679

Yesterday, the US inflation report was released, which came in at 8.5% in July. The market did not expect such a large drop, estimating a level of 8.7% before the data was released. The stock markets reacted positively, and the major equity indexes rose significantly. The S&P 500 gained more than 2.1% during yesterday's session and the Nasdaq almost 2.9%. Bitcoin And Ethereum Cryptocurrencies, however, reacted most noticeably - on the Conotoxia MT5 platform, Bitcoin gained around 3.3% yesterday. And today, it continues its rise, breaking through the local peak of $2,485 on 30 August 2022. At 11.30 am GMT+3, the price of BTC is $24,471. The ETH price has risen even more strongly after a surprisingly low inflation reading. Ethereum gained more than 8.5% yesterday, and at 11.30 GMT+3, it is already up more than 2.3%. The token already costs $1,887 - its highest recorded level since 6 June this year. Reaction The market's reaction has a lot to do with expectations of interest rate hikes, which fell after the US inflation reading. However, it is still a long way from calling it a permanent decline. Inflation is still at its highest level in decades and the economy is operating in an environment of negative real interest rates. According to CME Group data, the Federal Reserve (Fed) is likely to push rates even higher. Currently, the Fed Funds Rate is at just 2.5 pp, the level before the Covid pandemic. The CME Group estimates that we will still reach the 3.25 pp level this year, and peak in 2023 at 3.5 pp. However, as for the 2023 projections. The Federal Open Market Committee (FOMC), which decides them, is already much less unanimous and a lot may still depend on the information coming out of the economy. US Economy - Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession Information on its state in the US is not pleasing. Most metrics - such as the yield curve, consumer sentiment, and economic growth - point to a recession. The labour market, which is surprisingly strong at the moment, is reacting last and is likely to become further evidence of a crisis soon. The cryptocurrency market has never been in such a severe recession, so it is hard to determine exactly how it will behave. For now, the data shows a relatively high level of correlation between it and the stock market. This is not good news, as the latter almost always loses in a crash. Polygon (MATIC) Polygon (MATIC) is an Ethereum token that powers the Polygon network, which is a protocol for building Ethereum-compatible blockchains and decentralised applications (DApps). Polygon is also referred to as a 2nd level (2nd level) solution to help Ethereum to scale faster, by increasing the efficiency of the network. On Wednesday, Polygon shared data on user growth. Their total number in July was 11,800, gaining 47.5% since March and up 400% year-to-date. Interestingly, according to the project, "74% of teams integrated exclusively on Polygon, while 26% deployed on both Polygon and Ethereum,". This shows a very high level of confidence in the new technology, which can be the new foundation for the development of DApps. Since the local low on 19 July this year. MATIC has risen almost 172%. Trading on CFDs is provided by Conotoxia Ltd. (CySEC no. 336/17). CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Relevance up to 10:00 2022-08-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum is getting closer to the key resistance level of $2,000 every day. It is important to reach this psychological level during the ongoing uptrend. Institutional investors add fuel to the growth. Their inflow has increased significantly amid the transition of ETH to the Proof-of-Stake algorithm and the recent news.     The ETH/USD pair has fixed above $1,800 and formed a strong support area near that level. After forming the bullish engulfing pattern on August 10, the asset dashed to the level of $1,950 but rolled back because of the bearish activity. As a result, bulls were forced to retreat and the candlestick acquired a long upper shadow. Nevertheless, ETH is holding above $1,850, and as long as this level is not broken through, the asset may reach the area of $1,900-$2,000.     Eventually, ETH formed a bullish large-scale cup-and-handle pattern. This pattern may drag the price to the area of $2,700-$2,800. Taking into account the presence of the fundamental positive background and the successful mergers of the test ether networks, it is likely that the cup and handle pattern will be worked out by the middle of September. With this in mind, we can conclude that it is Ethereum that will be the main driving force of the crypto market during the next few months.     As for the technical picture, the asset started a consolidation after failing to touch the area of $1,950-$2,000. The RSI is moving near 70, indicating high buying activity. However, after testing 70, the metric has flattened. The stochastic oscillator managed to break through the level of 70 and enter the overbought zone. This means the asset is overbought and this state will increase with the positive sentiment in the market. The MACD indicator has gained an upward direction after a long flat period. As a whole, from the technical point of view, ether demonstrates the demand but prepares for a correction.     Most likely, this is where the market will face the first full-fledged correction due to the long upward movement. On the weekly chart, the ETH/USD pair is likely to close the sixth bullish week. If we compare it to the cryptocurrency's recent uptrends, we see that for the most part, the altcoin goes for a correction after forming six or seven green candlesticks in a row. Ethereum is close to the sixth one and we are likely to see a correction already next week.     Dependence on Bitcoin may hamper the cryptocurrency's uptrend. In recent months, the level of BTC dominance was falling, while ETH, on the contrary, was growing. Mostly, it was due to the Fed policy and the presence of fundamental reasons for the growth of ether. It is likely that soon the situation will change since the rate of inflation began to fall.     Investments in BTC will gradually begin to increase, which will be a deterrent to the growth of ETH. Among the latest news related to these processes is the announcement of the BlackRock Capital fund. The largest $10 trillion asset management company has launched a new BTC fund for its clients. In the medium to long term, this bodes well for a significant increase in institutional investments in Bitcoin.     All of these factors can negatively contribute to the future growth of Ethereum, but they have no fundamental effect. With this in mind, Ethereum is very likely to remain the main cryptocurrency in the coming months. However, in the short term, we should expect a correction, which the altcoin needs after a prolonged six-week rally.   Read more: https://www.instaforex.eu/forex_analysis/318802

How will the upcoming Ethereum Merge affect linked tokens?  After long years of preparation, Ethereum will soon become a token operating fully on the Proof-of-stake (PoS) blockchain. So far, no delays are expected for the Merge, which is scheduled for 19 September. In addition to ETH, many other tokens are gaining in utility and price through the upcoming transition, which will enable them to be more widely and quickly adopted. Ethereum's plan is to replace ETH miners with validators, a kind of 'node' of the proof-of-stake system. They will be responsible for storing data, processing transactions and adding more chain blocks. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $60600. Lido Dao  An important part of this network is to be the Lido DAO, which is the main project offering staking services within Merge. So far, Lido has funded ETH 2.0 with approximately 4.15 million ETH. Since the local bottom on 18 June 2022. LDO has gained almost 530%.    Source: Glassnode Accounting for almost half of the staking on ETH, the Lido is an important part of the chain with great growth potential if the trend in this service adoption continues. However, currently after surging 500%, the price may be too high and a great deal of caution is advised for bulls.  Ethereum Classic (ETC) Despite the transformation, Ethereum Classic (ETC) is still an important part of the crypto scene. The token was created as a result of a split of the Ethereum blockchain in 2016 and has most of the functionality of the current ETH, but is slower in handling transfers and less flexible in creating DApps. However, it still plays a significant role and is considered by traditionalists to be a combination of the best features of Bitcoin and ETH.  The token through its reliance on mining provides a natural refuge for miners who will be excluded by the Ethereum blockchain change. This is probably why it has gained more than 215% in recent weeks since its local low on 14 July.  The influx of miners is bound to have an impact on the increased supply of ETC in the short to medium term, which typically drives the price down. However, with a maximum of 210.7 million coins to be mined, ETC is deflationary in nature, and the market seems to be pricing that increased mining will translate into a faster increase in the token's price due to limited future supply. ETC, like BTC, mainly has been used as a store of value. Merge will have an impact on the entire crypto world. It surpasses the ETH split of 2016 by its scale and points to new areas such as proof-of-stake, energy efficiency and lower commissions. The transformation in addition to the above-mentioned LDO, ETC affects most ETH-related projects giving some new significance.   

Summary:  The last test of the highly anticipated Ethereum merge was a success. The real merge has now been scheduled for either the 15th or 16th of September. Whereas the latter was a success, Coinbase’s Q2 result was arguably not a success compared to the market’s consensus. The Ethereum merge has been scheduled following the final test On Thursday, the final public test of the highly anticipated Ethereum merge occurred successfully as the test network known as Görli successfully adopted a proof-of-stake framework. One day later, the developers of Ethereum announced that the real merge is likely to take place on either the 15th or 16th of September next month. This is in line with what we estimated earlier this month, assigning a 95% chance of a merge in September in case Görli occurred flawlessly, as it did. This means that one of the most significant events in the history of crypto is only around a month away. It seems that traders are likewise anticipating the merge. Ethereum hit a local high against Bitcoin since January of 0.0816 (ETHBTC) this weekend alongside hitting a new 3-month high in dollar terms of over $2,000. This is rather remarkable because Ethereum has previously decreased against Bitcoin during bear markets with Bitcoin behaving somewhat as a safe haven within the highly speculative crypto market. At present, the pair trades at 0.0793. Coinbase releases Q2 2022 result On Tuesday, the largest US-based crypto exchange NASDAQ-listed Coinbase reported its second quarter result. The result was, however, not encouraging for shareholders. The company’s revenue declined by nearly 64% compared to the same quarter last year, while the company noted a loss accurately exceeding $1bn. Yet, $377mn of that was caused by depreciating its crypto holdings, with the latter taking a severe hit during the quarter. Coinbase laid off around 18% of its workforce in Q2 while enforcing a hiring freeze. The major issue for Coinbase in Q2 and not least going forward is the fact that its retail trading has decreased substantially, although its volume from institutional clients is fairly more stable. The challenge with the latter is that Coinbase earns significantly less on institutional rather than retail trading. As a consequence, institutional clients’ volume is over three times as much but pays overall 15 times less in trading fees than retail clients. So, unless retail trading surges, the fundamental of Coinbase is likely not improving. Making matters worse, Coinbase is encountering further competition on retail trading from, for instance, Robinhood, potentially over time pushing Coinbase’s high margins on retail trading down. Source: Coinbase Global, Inc. Source: Coinbase Global, Inc. Alongside 21 other companies, Coinbase is a part of our Crypto & Blockchain equity basket for investors wanting to get exposure to the crypto market through crypto-related companies (the basket should not be considered as a trade recommendation, only as an inspirational list). Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Ethereum, it is time to merge

Relevance up to 08:00 2022-08-17 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: On August 11, 2022, Ethereum developers notified the community during the Consensus Layer Call live stream that the Merge update is likely to occur between September 15-16. The next day, Ethereum co-founder Vitalik Buterin confirmed that The Merge is likely to take place on September 15th. Since then, everyone has been asking where the current Ethereum hashrate will go after the update goes live. There has always been a lot of speculation that most of the ETH hashrates will be redirected to Ethereum Classic (ETC), however this is not the only opinion. There was one significant drop in ETH network hashrate that started on June 6. Statistics show that on that day 1.23 petahashas per second (PH /s) or 1,230 terahashas per second (TH /s) was dedicated to the Ethereum network. The data shows that around 230 TH /s have left the network, but none of the chains supporting Ethash have recorded hashrate accumulation on such a scale. Technical Market Outlook: The ETH/USD pair has hit the level of $1,990, which is the 100% Fibonacci extension of the wave A. The local high was made at the level of $2,029, nevertheless the upside is limited due to the key technical resistance located at the level of $2,040. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/288599

ETH options open interest at a high as traders pile on leveraged bets. Asset managers’ net-long position in CME BTC futures climbing. ETH enters short-term overbought territory Chart of the Week: In the Mood for Leveraged Bets ETH options open interest has reached a new high at around US$8B. Options are a leveraged play on ETH and traders are likely piling up the bets in anticipation of the mainnet merge in September. Last week, the final testnet merge, Goerli, was successfully completed, giving traders an extra confidence boost.     Fund Flow Tracker No significant movements in aggregated exchange balances for both BTC and ETH over the past week.         Derivatives Pulse Implied vols and skews (puts minus calls) are subdued. 1-week implied vol currently stands at 58.7% (vs. 63.1% a week ago) and 84.8% (vs. 91.9% a week ago) for BTC and ETH, respectively. Put-call ratios remain at low levels.                     Perpetual futures funding rates remain mainly in positive territory for both BTC and ETH over the past week.         Asset managers’ net-long position in CME Bitcoin futures continues to crawl up, and leveraged traders’ net-short position keeps on reducing. Other reportables’ (which includes corporate treasuries) net-long position has flipped to net-short.     Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking BTC and ETH both have momentum in their sails, reclaiming key levels US$24K and US$2K, respectively. However, the surge has driven ETH into short-term overbought territory based on the 14-day Relative Strength Indicator (RSI), with BTC closing in as well.     Price Movements         News Highlights Ethereum’s final testnet merge on Goerli was launched. Crypto.com obtains Electronic Financial Transactions Act and Virtual Asset Service Provider registration in South Korea by acquiring PnLink Co., Ltd and OK-BIT Co., Ltd. Coinbase’s credit rating gets cut by S&P to BB from BB+. BlackRock launches a spot Bitcoin private trust for U.S. institutional clients. Catalyst Calendar             Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Author Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO CRYPTO RESEARCH CRYPTOCURRENCIES MARKET PULSE MARKET UPDATES

Market picture Bitcoin is losing 3.7% in the past 24 hours, falling to $23.9K%. Ethereum is down 5.2% to $1870. Other top altcoins are down 2% (BNB) to 6.4% (Solana). Total capitalisation of the crypto market The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% to $1.14 trillion overnight. Bitcoin on Monday failed to claw its way above $25K, after which short-term buyers rushed to lock in profits and returned the price to the $24K area. The pressure on BTC was exerted by the rising US dollar amid weak data from China, indicating a slowdown in the economy. However, so far, Bitcoin's decline is more appropriately seen as a corrective pullback within an uptrend. It would only be appropriate to discuss a break in this trend if it moves below $22.5K-23.0K. Sluggish and uncertain growth at the first stages is typical after a strong sell-off that prevailed since last October. News background Notably, the positive dynamics of the crypto market last week coincided with a net $17 million outflow, the first net withdrawal in seven weeks, of which $21 million came from investments in BTC. At the same time, investments in bitcoin short funds increased by $2.6 million. The Wall Street Journal reports that US pension funds remain optimistic about investing in cryptocurrencies, despite a significant pullback in prices and a wave of defaults by crypto companies. Raul Pal -- Real Vision CEO -- believes that Ethereum remains highly attractive for investors, and interest in it will grow even more after the move to PoS. Michael Saylor: BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth." Michael Saylor, former head of MicroStrategy, called the company's decision to buy bitcoin a good one. He said, BTC is not suitable for everyone, "you should invest for at least four years. Ideally, it's an intergenerational transfer of wealth."

Acala Network suffered security breach, aUSD depegged. Curve Finance’s website hacked. Crypto users were hit with “dust attack” after being sent a small amount of ETH from Tornado Cash. Weekly DeFi Index This week’s price index dropped by -7.26%, while volume and volatility indices were positive at +11.26% and +3.16%, respectively.     DeFi Index Tokens     News Highlight Acala, the “DeFi hub” of the Polkadot network, suffered a major security breach. The exploit allowed the attackers to mint an additional 1.2 billion aUSD, the native stablecoin of the network, in its iBTC/aUSD liquidity pool. Following the exploit, aUSD depegged and plunged to a low of US$0.009 on 14 August. In response to the incident, Acala passed a proposal to burn US$1.28 billion aUSD to regain the peg. At the time of writing, aUSD is trading around US$0.88.  Decentralised exchange Curve Finance experienced a frontend attack on 10 August. Hackers compromised the Curve website to redirect unwitting users or their transactions to a malicious destination. The thieves made off with US$570,000 of ETH and part of the stolen funds were frozen. DeFi protocols banned users following OFAC sanctions on Tornado Cash. However, this derives a so-called ‘dust attack’. Crypto users reported being blocked by major DeFi protocols after attackers sent a small amount of Ether (usually 0.01 ETH) via Tornado Cash. More than 600 addresses were hit with the same 0.01 ETH ($19.25) ‘dust attack’, including crypto exchanges and public figures. Ethereum’s third and final testnet merge was completed on Goerli. This is one step closer to Ethereum’s mainnet upgrade, which is expected to happen this year. DEX Protocols Metrics     Lending Protocols Metrics     Charts on Layer 2 Projects Overall, the L2 market saw +6.99% growth over the past week. Optimistic rollup projects rose +4.15% and zero-knowledge rollup projects dropped -4.61%. Sidechain projects gained traction with +18.02% growth, mainly driven by Polygon (+20.50%). Ethereum’s TVL rose +1.17%.     The TVL for almost all of optimistic rollup’s projects were negative last week except Arbitrum (+7.75%) and Optimism (+0.04%).     Although the overall TVL of ZK rollups fell, StarkNet was under the spotlight as its TVL grew +14.07%.     Further Reading Arbitrum launches gaming and social App-focused layer 2 chain Arbitrum Nova DeFi protocols Aave, Uniswap, Balancer, ban users following OFAC sanctions on Tornado Cash Tornado Cash DAO shuts down as it “can’t fight the US” and keep contributors safe BlueBenx fires employees, halts funds withdrawal citing $32M hack Interlay launches Bitcoin-backed stablecoin iBTC on Polkadot network DeFi firms Iron Bank, Yearn Finance join layer 2 protocol Optimism Cross-chain bridge RenBridge laundered $540M in hacking proceeds: Elliptic Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters    Be the first to hear about new insights: Follow us on Twitter Tags CRYPTO RESEARCH CRYPTOCURRENCIES DEFI L1 & L2 Source: DeFi & L1L2 (Week 32, 10/08/2022 – 16/08/2022) (crypto.com)

TL;DR   Livepeer is a decentralized video protocol built on the Ethereum blockchain. It was designed for anyone to seamlessly integrate video content into applications in a decentralized manner and at a fraction of the cost of traditional solutions. Decentralization of video processing is accomplished by distributing the transcoding process to a network of node operators. Transcoding is an essential step in ensuring smooth delivery of video content to end users. It involves taking raw video files and converting them to the optimal state for each end user, based on factors such as device screen size or internet connection. Livepeer processes video content reliably and inexpensively using blockchain technology that utilizes game theory, cryptoeconomic incentives, and smart contracts to foster positive stakeholder interactions. Its native asset, the Livepeer token (LPT), is used to coordinate and distribute video processing tasks among network participants securely and reliably.    Introduction   With the increasing reliance on social media, especially amid the recent pandemic, as well as the massive growth of the creator economy, video-related content used more than 82% of the internet’s bandwidth in 2021.  The Livepeer network, powered by thousands of distributed nodes, gives video app developers and creators access to a secure, high-quality, affordable encoding architecture without a hefty price tag. Since its inception in 2017, the Livepeer network has processed over 150 million minutes of video.   How does Livepeer work?   Livepeer, built on Ethereum, is essentially a network that connects anyone seeking video processing with suppliers that provide this service. It uses its native token, LPT, to incentivize network participants to keep this video transcoding process reliable, secure, and affordable compared to current centralized solutions. There are two main stakeholders in the Livepeer network: orchestrators and delegators.  Orchestrators Anyone who owns video mining equipment can stake their LPT and perform video processing work on the Livepeer network. In exchange for providing this service, they receive a share of the video processing fee in the form of LPT and ETH. These network participants are called orchestrators.  Delegators Those who don’t have access to video mining tools or video processing experience can still participate in the network by delegating or assigning their LPT to a node operator with the right tools and expertise to process video via the Livepeer Explorer. These network participants are called delegators.   What is LPT? The network’s native asset, the Livepeer token (LPT), is an ERC-20 token used to provide security, distribute video processing tasks among network participants, and incentivize their active participation in the various roles on the Livepeer network. The more LPT tokens are committed to the network’s functioning, the more stable, secure, and robust it becomes.   Orchestrators are allocated work according to the amount of LPT they have staked — their own or those of delegators — along with their geographical location and reliability. Since more delegated tokens lead to more work, and more work equals more rewards, orchestrators compete to attract as many delegators as possible. At the end of each round, i.e. end of every day, the Livepeer protocol mints new Livepeer tokens according to a designated inflation rate. Livepeer is a “stake-based” protocol, which means rewards are allocated to each participating user in proportion to their contribution. Participants who have been active in a given round — either by running nodes or by staking tokens — receive a proportionate amount of the issued reward. Those who did not actively participate in a given round do not receive these rewards.  Orchestrators also earn an added benefit: they receive a portion of their delegators’ rewards as a commission for running the decentralized infrastructure.  With this system, active participants can grow their stake in the network. Meanwhile, transcoding rights of inactive users shrink with every round in which they do not participate. In other words, a larger LPT stake results in more allocated work, ultimately leading to more rewards.  The inflation rate used to determine the size of the issued rewards also motivates users to be active. The percentage of new LPT in each compensation round is determined by how many total LPT are committed to the network’s successful functioning. The higher this proportion, the lower the inflation rate and the more value existing tokens will retain. Thus, token holders are naturally motivated to stake more to earn more.   How to buy LPT on Binance?   You can buy LPT on cryptocurrency exchanges like Binance.  1. Log in to your Binance account and go to [Trade] -> [Spot].  2. Type “LPT” on the search bar to see the available trading pairs. We will use LPT/BUSD as an example. 3. Go to the [Spot] box and enter the amount of LPT you want to buy. In this example, we will use a Market order. Click [Buy LPT] to confirm your order, and the purchased LPT will be credited to your Spot Wallet. Closing thoughts Livepeer has designed a solution to delegate video processing tasks to reliable parties. With a  decentralized video protocol, Web3 projects and companies can avoid high, arbitrary video processing fees and censorship to provide better video content for their audiences.   Source: What Is Livepeer (LPT)?

Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The ICO Ethereum whale address carries 145,000 ETH to various accounts in the weeks before Merge Such a large number of ETH carried over just a month before the merge sparked the curiosity of the crypto community. Some say it is for selling, while others say it is for betting. The Ethereum whale wallet, which participated in the initial coin offering (ICO) and acquired 150,000 Etherum (ETH) in 2014, was reactivated on August 14 after three years of sleep. From its address, the whale shifted 145,000 ETH to multiple wallets as Etherum's price soared to a new three-month high of over $ 2,000. The transfers were made in batches of 5,000 ETH, with several transfers of over 10,000 ETH. The total value of Etherum transferred is over $ 280 million and the wallet address currently has a balance of 0.107 ETH. Technical Market Outlook: The ETH/USD pair has hit the level of $1,990, which is the 100% Fibonacci extension of the wave A and a perfect target for the wave C of the overall ABC corrective cycle. The local high was made at the level of $2,029, nevertheless the upside is limited due to the key technical resistance located at the level of $2,040. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/288843

Relevance up to 10:00 2022-08-18 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum ended its upward spurt, failing to retest $2,000. As a result, the price began to decline and hit a support area near the level of $1,900. At the same time, the overall situation in the market remains tense due to low liquidity and trading activity. On top of that, there were alarming rumors about ETH's transition to the PoS and the US sanctions policy. These factors, as well as altcoin's dependence on Bitcoin, give rise to opinions that ether is about to start a correction.     From the technical point of view, the asset remains bullish and is likely to make another attempt to break through $2,000. The RSI resumed upward movement after a brief consolidation. The stochastic oscillator is also preparing to form a bullish crossover. Technical metrics indicate that buying activity remains high, and fundamental reasons for growth are pulling the price upwards. At the same time, the MACD continues to move flat, which indicates that there are no significant bullish signals in the long term.     Another important problem with Ethereum's technical metrics is their positioning. The stochastic oscillator is moving near 75 and the relative strength index is at 65. These are bullish signals, indicating continued buying sentiment. However, the indicators have been above 60 since July 25, and the metrics have moved into the overbought territory several times during that period. This is normal for an asset that is one step away from an important update but it also indicates that it is overheated. Recent evidence of record ETH inflation due to low online fees confirms that the market is overheated.     If we evaluate the main onchain metrics reflecting the number of active addresses and the volume of daily trading, we can conclude that there are no clear signs of positive factors. We see a correlation between the growth of the number of addresses and trading volumes, but the co-dependence manifests itself impulsively rather than consistently. This is also a normal situation for an asset that is one step away from an important merge. Fundamentally, it suggests that interest in ether, though high, is not consistent. This increases volatility, reduces institutional interest, and negatively affects the formation of a long-term trend.     In addition, more than 66% of ETH validators on PoS are going to comply with US sanctions and block illegal transactions. There would be no problem if the majority of validators supported this initiative, but we see more than 35% are disagreeing with this policy. As a result, Ethereum's move to PoS could create a conflict with far-reaching consequences. There is no doubt that the situation will be closely monitored by institutional investors, for whom validation and transaction security issues are paramount.     Overall, the PoS update will be revolutionary and will greatly strengthen Ethereum's position in the market. Ethereum issuance will drop from approximately 13,000 coins per day to 2,000-3,000. In this respect, the asset will approach Bitcoin in terms of its capabilities and attractiveness. The merger is exactly one month away, and the altcoin needs a recovery correction to conduct a consolidation period before the main Merge update starts. At this stage, the ether retains bullish potential, high but erratic investor interest, and is preparing for another $2,000 retest.   Read more: https://www.instaforex.eu/forex_analysis/319150

Relevance up to 10:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The Ethereum Foundation wants the public and ETH investors to be aware that The Merge is a transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), not a reduction in gas charges: "The gas charges are the product of the network's demand [for services] in relation to its capacity," the organization said. The foundation explains that it is about changing the algorithm to PoS, which, however, "does not significantly change any parameters that directly affect the network capacity." While the transaction fees on the Ethereum network will not change after The Merge, users who want a lower fee for transfers will be able to take advantage of Tier 2 scaling solutions or wait for further updates in the Ethereum chain. After The Merge, the Ethereum Foundation will roll out The Surge, The Verge, The Purge and finally The Splurge. And it is the latter that aims to improve scaling with sharding technology. Technical Market Outlook: The ETH/USD pair has fell out of the channel around the level of $1,880 and is testing the technical support located at $1,819. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/289046

Relevance up to 11:00 2022-08-19 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. ETH/USD has changed little in the short term only because BTC/USD seems undecided. Ethereum turned to the downside after failing to confirm a larger swing higher. Technically, the price action signaled a larger drop in the upcoming period. In the last 24 hours, ETH/USD has gone down by 2.59% and by 2.09% in the last 7 days. Ethereum tried to rebound but the immediate upside obstacles stopped the rally. BTC/USD's deeper drop should push ETH/USD towards new lows. ETH/USD Downwards Movement Underway     The price dropped below the uptrend line, signaling that the leg higher ended and that sellers could take the lead. It has tried to come back above the broken uptrend line but it failed to stabilize above it showing strong downside pressure. It has retested the 1,858 static resistance and now it could approach and reach 1,820 again which represents critical support. ETH/USD Outlook Dropping, closing, and stabilizing below 1,820 could activate more declines and could bring new short opportunities.   Read more: https://www.instaforex.eu/forex_analysis/289061

Market picture Bitcoin was almost flat on Thursday but started Friday with a 6% plunge, momentarily dropping to $21.5K. Ethereum is losing 4.5% overnight to $1760. Leading altcoins are down 7% (XRP) to 12% (Solana). Total crypto market capitalisation is down 4.2% to $1.07 trillion, according to CoinMarketCap. Bitcoin's fall below $22.5K is a formal break of the upward corridor of the past two months, as a sequence of increasingly higher local lows is broken. Currently, BTCUSD is testing the 50-day moving average, which could act as an uptrend indicator. The current dip has made the fight for the 200-week average, which is now near $23K, relevant again. Closing the week below this level risks triggering another round of liquidation. Altcoins are losing even more significantly, reflecting a dramatic shift in enthusiast sentiment from cautious buying to simultaneously locking in quick profits across a wide range of coins. Additionally, the weakening of global equity indices and the deteriorating macroeconomic backdrop is worrying factor. At the same time, the crypto market is no longer oversold but not yet attractive to long-term investors. We believe we will see similar sharp market movements again in the coming months. News background Arthur Hayes, former head of crypto exchange BitMEX, talked about two scenarios after Ethereum moves to the Proof-of-Stake (PoS) mining algorithm. If the fork is unsuccessful, ETH could fall sharply but hold above $800. If the merger is successful, an ETH rally should be expected, although it may be delayed, as in the case of bitcoin halving. Korean authorities are investigating 16 crypto exchanges that are accused of breaking local laws and providing digital asset trading services to Korean citizens. Tether, the issuer of the largest USDT stablecoin by capitalisation, has announced a partnership with accounting firm BDO Italia. Tether plans to move from reporting quarterly financial results to monthly reporting.

Relevance up to 08:00 2022-08-20 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: The well-known Australian gas station brand On The Run (OTR) has today launched a cryptocurrency payment service at its 175 points. They are located in Victoria, South Australia and Western Australia. This is a consequence of establishing cooperation between the OTR company and the Singapore cryptocurrency exchange and DataMesh - the national provider of payment systems. The stock exchange is responsible for providing the Pay Merchant service as a payment settlement layer, and Datamesh supplies the points of sale with terminals. The next steps that OTR's parent company, Peregrine Corp, intends to take are the introduction of cryptocurrency payments at another 250 retail outlets in Australia. We are talking about places such as Subway, Oporto and Krispy Kreme. Mohan also announced that Crypto.com does not charge additional fees for transactions carried out in this situation. However, a top-down fee will be charged on the part of the seller who will set the rates for the products and services himself. It looks like the transaction costs will be equal to the cost of paying with a fiat card. Technical Market Outlook: The ETH/USD pair has fell out of the channel around the level of $1,880 and is broke below the technical support located at $1,819. At the time of writing the analysis, the new local low was made at the level of $1,805. The momentum had violated the level of fifty already and it points to the south indicating a strong bearish activity. The nearest technical resistance is seen at $1,915 and must be clearly violated in order to continue the up move. The key short-term technical support is located lower, between the levels of $1,785 - $1,756.     Weekly Pivot Points: WR3 - $2,132 WR2 - $2,042 WR1 - $1,986 Weekly Pivot - $1,953 WS1 - $1,897 WS2 - $1,864 WS3 - $1,775 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next key psychological level for bulls is located at $2,000 and needs to be clearly violated before any extension higher.   Read more: https://www.instaforex.eu/forex_analysis/289174

Since the beginning of July, the crypto market seemed to be on the rise. The largest tokens (BTC and ETH) at the local peak, gained around 35% and 101% respectively. However, today at 11:30 GMT+3 BTC is losing around 7.3% and ETH around 8%. Today, ETH broke through its price channel and the 20-day moving average. If the price does not return to the channel in the next couple of days, we will be able to say that a possible reversal of the short-term trend we mentioned in previous articles has taken place. Especially if this is confirmed by indicators such as the Wilder directional indicator. BTC has also moved far out of its price channel and is currently below the 10, 20 and 50-day moving averages. The directional indicator has already shown a potential trend reversal and the MACD is approaching the negative zone. Today on the Conotoxia MT5 platform at 11:00 GMT+3, Filecoin (FIL) is down the most. It is experiencing a loss of almost 18%. According to Coinmarketcap, it has a capitalisation of almost $1.8 billion and a daily volume of over $511 million. Filecoin was launched in 2020 to decentralise data storage, providing an alternative to industry giants such as Amazon and Alibaba at a cost reduction of almost 99%. The project's network connects storage providers with customers looking for a place to keep their data. Those offering their storage from laptops to server rooms after verifying data integrity and security can obtain a FIL token as a reward. This creates a highly diversified and low-cost database network. However, the characteristics of the project are inherently inflationary, unlike BTC. The declines described are attributed to a broad market correction, the exit of 'big money' and growing pessimism about the increasing supply of FIL tokens. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: The crypto market falls as profits are realised

Relevance up to 10:00 2022-08-23 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Crypto Industry News: About six years after Ethereum Classic miners excavated the first ETC block at block 1,920,000, the ETC hashrate reached the new ATH on August 20, 2022. The Hashrate ETC was 38.37 TH / s at block height 15 776 674. Hashrate joined the ETC chain over time, Ethereum is getting closer and closer to the Merge update scheduled for September 15, 2022. Four days ago, on August 17, the ETC hashrate was 27.56 TH / s and has increased by 39.22% since that day . The largest ETC mining pool is Ethermine, controlling 8.05 TH / s, and the next with 8.02 TH / s is Poolin. The combined hashrate of Ethermine and Poolin of around 16 TH / s is over 40% of the global ETC hashrate. The Ethereum Classic was launched after the 2016 DAO hack and the first ETC block was excavated on July 20, 2016. ETC supporters believe this is the original unchanged Ethereum Blockchain as the DAO hard fork wiped out the Blockchain event. Committing to proof-of-work, the developers of Ethereum Classic removed the "difficulty bomb" from the ETC chain at a block height of 5,900,000. While Ethereum Classic saw a significant jump in its hashrate rate, other Ethash-based token networks such as Ravencoin, Ergo, and Beam saw no significant increases in hashrate. The Nora's Ethereum Classic hashrate level record is thus in line with many predictions that the ETH hashrate would transfer to the ETC. Last week, JPMorgan's market strategists predicted ETC would likely be one of The Merge's main beneficiaries. Technical Market Outlook: The ETH/USD pair has fell out of the channel and the sell-off accelerates rapidly towards the technical support seen at the level of $1,559. The market conditions on the H4 time frame chart are extremely oversold, however the bearish pressure is still strong. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Read more: https://www.instaforex.eu/forex_analysis/289418

Market picture Bitcoin has declined 12.2% in the past seven days, trading at $21,500. Ethereum has lost 17.8%, down to $1560. Other leading altcoins from the top 10 have fallen from 7.8% (BNB) to 22% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, dipped below $1 trillion over the weekend, losing $150 billion over the week. Near this level, the crypto market lingered in mid-year and early 2021. Bitcoin's inability to develop growth above $25K showed that in the previous two months, we had only seen a rebound in a falling market, but not the start of a rapid recovery. BTC is showing negative technical signals, having fallen below its 200-week moving average, now passing around $23K. Most of Bitcoin's decline came on Friday, and its catalyst may have been a drop in stock indices. After four weeks of gains, the S&P 500 began a correction, with its biggest fall in almost two months. Pressure on risky assets came from the minutes of the US Federal Reserve's July meeting published on Wednesday, which showed the regulator's determination to fight inflation. Having broken the upward channel support, BTCUSD is now stomping around $21K, where the price direction has reversed four times in the past four months. News background The recent announcement by the US House of Representatives Energy and Commerce Committee that lawmakers are "deeply concerned" about the popularity of Proof-of-Work cryptocurrency mining may have affected the negative market dynamics. The members of Congress requested four mining companies to provide data on the environmental impact of their activities. The European Central Bank (ECB) outlined its plan to license cryptocurrency activities and create a regulatory framework governing the industry in the EU. On 12 September, the Chicago Mercantile Exchange (CME) will launch options on Ethereum futures ahead of The Merge. This will happen after regulators approve the initiative. Finally, the Accounting firm BDO Italia has provided an opinion on the adequacy of Tether Holdings' reserves to collateralise the USDT stablecoin fully.

The average bitcoin payment fee recently fell below $1 for the first time in years. Transaction fees are needed to enable crypto intermediaries to operate, but they are hampering the adoption of payment solutions, affecting small payments in particular. Because the network is expensive to maintain due to its energy-intensive nature, commissions have been able to shoot up many times, for example, Ethereum commissions during the NFT hype. This is even more painful for transfers of small sums. This is why new technological solutions are so important. Here comes ethereum's Merge and payment solutions for bitcoin (Lightning Network and Taproot overlays), which are already revolutionising the world of crypto payments. They allow settlements to be faster, less energy-intensive and less expensive. The current average transaction fee for BTC payments has fallen below $0.825 - the lowest since 13 June 2020, ETH below $0.64, and is likely to be even cheaper. Their decline is not only a reason for the ever-improving technology, but also the recent crash of tokens, NFTs and an increase in the ease of mining in the long term. However, current energy and cryptocurrency prices may cause a short-term decline in mining activity. Many have already suspended operations or exited the crypto world. This can be seen in particular through the massive sale of mining rigs and used computer hardware (especially graphics cards). ETH, BTC and most tokens seemed to continue their declines. ETH and BTC prices are below the price channel and in the absence of a return above its bottom line, we can probably already speak of a short-term trend reversal. ETH has found its support on the 50-day moving average for now, while BTC has already crossed it. Moreover, the technical indicators (RSI, MACD and ADX) do not indicate a reversal of the short-term trend either. Declines in the major stock market indexes, hawkish announcements from the FED and further pessimistic data from the economy seem to be putting a lot of pressure on crypto. RafaÅ‚ Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: BTC and ETH payments getting cheaper. Will Cryptocurrencies experience further declines?

Summary:  On Friday, crypto long positions worth north of $500mn were liquidated, as fatigue spread in the crypto market. Not helping was speculation that exchanges may be forced to censor certain transactions on Ethereum in the future. Speaking of transactions, the demand for them on Bitcoin and Ethereum has decreased significantly, weakening the fundamentals of particularly Ethereum. Traders standing in line to be liquidated The crypto market, notably Ethereum, recovered partially in July and August until last week. From a low of 17,600 (BTCUSD) and 880 (ETHUSD) in June, Bitcoin and Ethereum surged to a local high of 25,200 and 2,030 on the 15th and 14th of August, respectively. Following new local highs, the market was seemingly becoming exhausted last week. Since then, Bitcoin has plunged by 15.6% to 21,270, whereas the Ethereum price has declined by 23.3% to 1,565. On mainly Friday, crypto derivative exchanges saw red. On this day, long positions were liquidated worth a combined $562mn in 24 hours. This is almost as much as the day in June, when Celsius halted withdrawals, even though the market movement to the downside was larger in June. This means that the crypto market has been extremely leveraged to ride the uptrend the past month and that party came to a halt on Friday. It seems that traders have particularly leveraged Ethereum trades going into the merge. Can exchanges censor certain Ethereum transactions? Two weeks ago, the US sanctioned the most used mixer on the Ethereum network called Tornado Cash. The latter has often been linked to money laundering; however, it was frequently used by private individuals to engage with the Ethereum network privately. The Tornado Cash protocol cannot by default be shut down, since it is a smart contract, so the sanctions involve that no US person or entity is allowed to engage with transactions originating from Tornado Cash. Afterward, speculation arose about what could possibly be next in line to be sanctioned. The ultimate sanction could be to censor certain Ethereum transactions, thus possibly shutting down the Tornado Cash protocol for good. At the moment, it would not be possible for governments to directly censor such transactions, however, it might be possible for them, as soon as Ethereum adopts proof-of-stake instead of a proof-of-work framework in the middle of September, known as the merge. This is because the majority of the Ether staked, hence Ether used to verify transactions, is done through exchanges or other intermediaries by clients handing over their Ether to these companies for them to verify transactions on Ethereum. For instance, Coinbase handles close to 15% of the total amount of Ether staked. Governments can technically make Coinbase adhere to such sanctions by ensuring it does not verify transactions related to Tornado Cash on a network level. Without going into too many details, in our opinion, it is very unlikely that this will occur, both from a societal and technical point of view. Yet, if it in reality occurs, then everything in the industry is at risk since the main selling proposition is full decentralization without intermediaries. In case certain transactions are ruled out from the network, we need to look ourselves in the mirror and ask if this industry has then anything to offer at all. The speculation in this matter did arguably contribute negatively to the price development of Ethereum in the last week. Brian Armstrong, Coinbase’s co-founder and CEO, commented on this on Twitter last week. Here, he said that Coinbase would possibly exit its staking operations if governments came to enforce the sanction of transactions on-chain, as Armstrong stated, “to focus on the bigger picture” by keeping Ethereum decentralized. If all staking providers do this, then it will presumably not be a problem, as the network will be kept online by solo stakers. When prices drop, fees follow suit For the majority of the year, the crypto prices have been on a downward trajectory. Transaction fees paid on particularly Bitcoin and Ethereum have followed suit. In November last year, Bitcoin generated around $500,000 - $1mn in fees daily, while Ethereum set at around $50mn - $80mn in transaction fees daily. Now, Bitcoin averages around $150,000 - $300,000 daily, while Ethereum sits at around $2mn - $3mn daily. This emphasizes that most activity on Bitcoin but primarily Ethereum is highly speculative and strictly linked to the prices of cryptocurrencies. Source: Token Terminal For Bitcoin, there are no direct consequences of lower total transaction fees in the near term. However, it might have consequences in the next decades, since the network might not be able to sufficiently compensate miners. For Ethereum, the lower transaction fees result in less Ether burned, effectively meaning less is removed from the supply. This makes the fundamentals of Ethereum weaker. For instance, Ethereum has for the past year burned 4.71 Ether per minute from transaction fees, whereas it has only managed to burn 0.89 Ether per minute in the past 30 days. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group   Source: Crypto Weekly: Leverage is the language of crypto

Most of the cryptocurrencies ended up in the heavy red over the past week, with most reaching double-digit losses. The overall cryptocurrency market volume in the past 24 hours came up to $60.83 billion - a drastic drop of over $17 billion from the past week. The overall crypto market cap decreased slightly compared to the previous week, coming up to $1 trillion, a slight decrease from the previous week’s $1.15 billion.   Let's delve deeper and take a quick look at the latest crypto market news and BTC's technical outlook.   Crypto Market Overview Bitcoin's dominance has remained below the 40% mark but increased slightly to 39.31%. This came as a result of BTC outperforming the top cryptocurrencies by making a smaller downturn. The most valuable cryptocurrency pair, BTC/USDT, is currently trading at $21,293.62, while Ethereum, the second-largest cryptocurrency by market capitalization, has fallen to $1,570.88, down 18.92% in the last week.   The top performers from the previous week were EOS (EOS) and Chiliz (CHZ), while the rest ended their week in the red. EOS has increased by 19.74% to $1.51, while CHZ gained 7.54% in the past seven days.   Cryptocurrency Market Heatmap | Source: Coin360   On the other hand, Lido DAO (LDO), Near Protocol (NEAR), and Curve DAO Token (CRV) were the worst performers of the week. LDO is down 31.27% to $1.91; NEAR is down 26.63% in the last seven days; CRV is down 26.17% to $1.   Top Altcoin Gainers and Losers Top Altcoin Gainers: EOS (EOS) ➠ 19.74% Chilliz (CHZ) ➠ 7.54% Top Altcoin Losers: Lido DAO (LDO) ➠ 31.27% Near Protocol (NEAR) ➠ 26.63% Curve DAO Token (CRV) ➠ 26.17%   News Highlights Here are some of the events that made the previous week's crypto news section stand out:   Ethereum 2.0 Merge in the Limelight, PoW Ethereum the Talk of the Town The Ethereum blockchain is on track to make its highly anticipated transition from its current Proof-of-Work (PoW) consensus mechanism to a Proof-of-Stake (PoS) one. The Merge date is officially scheduled for Sept. 15–16 after the successful final Goerli testnet integration to the Beacon Chain on Aug 11.   However, not everything is going smoothly, as a group of miners and PoW supporters have announced that they will opt to hard fork Ethereum and continue operations on the new version. Chandler Guo, a Bitcoin (BTC) miner, was among the first to bring out a case for the PoW Ethereum chain post-Merge. In a tweet on July 28, Guo shared with the public a screenshot of Chinese miners saying that PoW Ethereum is coming soon.   However, Vitalik Buterin has denounced those who are in favor of PoW Ethereum, claiming that the move is just a ploy for miners to make easy money without benefiting humanity - especially after them declining to move to ETC, a Proof-of-Work Ethereum fork from 2016.   Cardano Testnet Critical Bug a Controversy? Charles Hoskinson, the founder of Cardano, has come out to speak about how the issues surrounding the Cardano Vasil hard fork have been “incredibly corrosive and damaging.” After a rumor broke out that Cardano’s testnet is “catastrophically broken,” Hoskinson stated that there’s been an “unfair narrative” floating around Cardano and its testnet issues, which he called “incredibly corrosive and damaging.”   He spoke about how people can and should not conflate a failed testnet with the mainnet, because testnets are constructed and destroyed all the time in this industry. He then added that “They are in no way, in any way harm Cardano itself.”   The Vasil hard fork has already been delayed several times this year, with the most recent delay being announced at the end of July due to issues identified on the testnet. Hoskinson, however, remains optimistic that the Vasil hard fork will ship “imminently.”   USDC Records a 22-Month Low Whale Holding Percentage The percentage of USD Circle (USDC) stablecoins held by the top 1% of wallet addresses dropped to its lowest point in almost two years as the crypto market downturn continues. While the real reason or reasons for this are unknown, various commentators have suggested that some users shifted their stablecoin holdings from USDC to USDT. This claim was made given the correlation in the decline and growth of the respective stablecoins’ market cap.   Data from Glassnode, an on-chain analysis firm, shows that the percent of USDC held by the top 1% of addresses is currently at a 22-month low of 87.667%.   However, even though the market cap of USDC ended up reducing somewhat, the stablecoin reached a three-year high in terms of weekly mean transaction volume, surpassing the previous high it registered in June of this year.   Tether Decreases Commercial Paper Holdings by 58% An announcement from USDT issuer Tether Holdings Limited revealed the results of the independent Q2 attestation performed by the top accounting firm BDO Italia.   Tether had previously made an announcement that they intend to reduce their commercial paper holdings to 0% by the end of October 2022. Data from this report revealed a 58% decrease in commercial paper exposure since the previous quarter. When translated into dollar value, this is a decrease from $20 billion to $8.5 billion.   The CTO of Tether, Paolo Ardoino, tweeted that Tether plans to continue to decrease its commercial paper holdings to $200 million by the end of August, and to ultimately reach zero by the following October.   The Fear & Greed Index at 29, Market Turning More Bearish The fear and greed index continues to signal "fear," with an index indicating a 29 score. Fear levels have increased greatly since the past week, with the market now being much more fearful than on Monday past week, when the Index showed 45.   Fear & Greed Index | Source: Alternative Crypto Calendar: Events to Watch This Week ➺ 22/08/2022 - JEWEL - DeFi Kingdoms AMA ➺ 22/08/2022 - DFI - BitMart Listing ➺ 23/08/2022 - TRX - Telegram AMA ➺ 24/08/2022 - SAND - Alpha Season 3 Begins ➺ 25/08/2022 - Crypto - CoinFest Asia ➺ 26/08/2022 - ICP - BTC Testnet AMA   Bitcoin (BTC/USDT) Analysis on KuCoin Chart Bitcoin has had a very bad week, with its price slowly recording double-digit losses and dropping below several support levels. The largest cryptocurrency by market cap has seemingly failed to maintain the uptrend it kept for over a month, while also falling below the 21-day moving average level.   This downtrend has led BTC from a little over $25,000 all the way up to a high of $20,760, which it hit on Saturday. However, the price bounced back above the $21,000 mark, and it’s fighting to stay above this level.   BTC/USDT Chart on the Daily Timeframe | Source: KuCoin   Analysts are predicting an even further drop due to worldwide uncertainty, with long-term lows possibly hitting the low teens.   Bitcoin’s immediate support level stays at $21,000, while its immediate resistance level lies at the 21-day moving average, currently sitting at $23,100.   Did you know that KuCoin offers premium TradingView charts to all its clients? With this, you can step up your Bitcoin technical analysis and easily identify various crypto chart patterns.     Sign up on KuCoin, and start trading today! 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According to Coinmarketcap data, the total capitalization of cryptocurrencies has fallen to nearly $1 trillion, showing a major shift in sentiment among traders and investors in recent days. The last time market capitalization was at this level was in late July. The possible trend reversal does not only apply to cryptocurrencies. The Nasdaq and S&P 500 have fallen from their local highs of August 16 by 5.7% and 3.8%, respectively. This is a significant change for such large indexes. Interest rates on U.S. 5-year Treasury bonds, after recording a local low of 2.55% on August 1, have risen to 3.17% in recent weeks, as Fed policymakers' statements proved more hawkish than expected. These are potential signs of a deteriorating outlook again, which should not be ignored. A chart of the Crypto Fear & Greed Index may show a decline in crypto market sentiment and an increase in investor fear. As recently as last week, the index showed a reading of 44, and now it is 28 points. Despite the partial decrease in the correlation between bitcoin and the S&P 500, it still seems to be high. Especially since it has historically risen during crashes - the last peak in the correlation was reached in mid-May, when both markets were down. BTC and ETH, despite finding support at $20,700 and $25,300, respectively, could be more exposed to the downside due to deteriorating economic data and market sentiment.  On the Conotoxia MT5 platform as of 12:00 GMT+3, one of the strongest falling tokens is EOS, which is losing nearly 9% after a 7-day gain of 48%. EOS is the native token of the EOSIO network. In practice, the project provides blockchain developers with a set of necessary tools and services to build and scale decentralized applications. The project's first whitepaper was released in 2017, and the team conducted an ICO, securing more than $4 billion in investment. It was one of the largest crowdfunding events in the history of cryptocurrencies.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Does data signal more short-term declines in the crypto market?

It’s been a choppy day of trade, with much of Asia and Europe treading water while the US is expected to open marginally higher. It’s clear that investors already have an eye on the Jackson Hole Symposium later in the week and we’re perhaps seeing some apprehension and anxiety ahead of that. I’m not entirely sure where that has come from because they’ve been perfectly happy to bat away hawkish warnings in recent weeks and if anything, the data has turned slightly in their favour. It may simply be a case of profit-taking after a good run in case the message finally gets through and causes a wobble in the markets. Equally, we could just be seeing markets being set up for a strong end to the week if Chair Powell says anything remotely dovish that excites traders once more. Positivity in PMIs not going to last Outside of the US, it doesn’t seem there’s much to be optimistic about. European PMIs this morning, while marginally beating expectations in some cases, were pretty poor. The flash services PMIs for France and the euro area just about remained in growth territory but the trend suggests that’s only a matter of time. The UK services PMI was a positive surprise, falling only a touch from 52.6 to 52.5 against expectations of a much steeper decline. Unfortunately, not only was the manufacturing PMI frankly appalling, the performance of the far more important services sector is highly unlikely to last. A recession is coming, regardless. Steady after Friday’s tumble Bitcoin has stabilised a little in recent days following Friday’s sharp plunge. It appears to have run into support just above $20,000, around the same level it did back in late July. It’s also around the 61.8% retracement of the June lows to the August peak. As appears to be the case elsewhere, we may be seeing traders adopting caution ahead of Powell’s Jackson Hole appearance. A break below $20,000 could be a major blow. For a look at all of today’s economic events, check out our economic calendar: www.marketpulse.com/economic-events/ This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds. Choppy trade - MarketPulseMarketPulse

Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Crypto Industry News: General Bytes is one of the three largest producers of crypto ATM in the world. The company announced on August 19 that their devices had been hacked in a zero-day vulnerability. This term denotes a software security bug that has not been identified by the developers. Hackers used it to modify settings for their own benefit. As a result of Thursday's attack on servers supporting the operation of bitomats, criminals carried out an operation to obtain administrator privileges. Then, they changed the address of the wallet of recipients of transactions, so that device users lost access to the flowing funds while buying or selling them. The manufacturer did not disclose to the public how many devices were affected by the hack and how many funds were stolen. However, the company advised operators to update the software immediately. It was established that the vulnerability has been functioning since Thursday's modification of the CAS software, as a result of which hackers managed to activate its new version with the number 20201208. General Bytes suggests that customers refrain from using their devices until the server is updated. The company hopes to fix the vulnerabilities and restore old settings with some tweaks. Before reactivating its terminals, General Bytes advised customers to review their "cryptocurrency sales settings" again. This is to make sure that hackers have not tweaked their settings so that the funds being sent go directly to their wallets. GB said several security audits have been carried out since the inception of their systems in 2020. However, never once has a similar vulnerability been discovered. Technical Market Outlook: The ETH/USD pair has fell out of the channel and the sell-off accelerates rapidly towards the technical support seen at the level of $1,559. The market conditions on the H4 time frame chart are extremely oversold, however the bearish pressure is still strong and the local bounces are very shallow. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Source: Forex Analysis & Reviews: Technical Analysis of ETH/USD for August 23, 2022

Relevance up to 09:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Crypto Industry News: The chairman of the US Securities and Exchange Commission (SEC) - Gary Gensler - says there is no reason to treat the cryptocurrency market any differently from the rest of the capital markets just because it uses a different technology: "Recent market events show why it is so important for cryptocurrency companies to comply with securities laws. In recent months, some cryptocurrency lending platforms have frozen their investors' accounts or have gone bankrupt. As for bankruptcy, these investors now have to fight in court. " - added. The head of the SEC emphasized that no matter what the financial product is, whether it is an application, a lending platform, a cryptocurrency exchange or a decentralized financial platform, the regulations must be followed. "For decades, the Supreme Court has explained that the economic realities of a product - not a label - determine whether it is a security [or not]," he explained. He added that he knew that "there are costs of compliance with securities laws." He likened it to "car makers bear the cost of fitting seat belts." Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at the level of $1,559, however, the bears hit the trend line support located around the level of $1,530 as well. The nearest technical resistance is seen at $1,666 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum remains weak and negative, so the ETH market remains under the bearish pressure.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Read more: https://www.instaforex.eu/forex_analysis/289757

Relevance up to 17:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Red line- resistance trend line Blue lines- trading range Green line- short-term support trend line Since the recent low on August 21st around $1,524, Ethereum bounced towards $1,665 but remains trapped inside a trading range with no real progress. The sharp decline from $2,030 ended at $1,524 but price shows no sign of strength for a big bounce higher. Short-term support is found at $1,630, by the green upward sloping trend line. Resistance is at $1,665 by the upper boundary of the trading range. Ethereum is expected to make another move lower at least towards $1,550.I do not expect Ethereum to move higher than $1,750 at this point in time.   Source: Forex Analysis & Reviews: Ethereum continues moving sideways

Relevance up to 16:00 2022-08-25 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum rebounded in the short term but the current growth could be short-lived. After its amazing sell-off, the altcoin could try to recover. ETH/USD increased by 9.44% from Monday's low of 1,529 to yesterday's high of 1,673. It was trading at 1,644 at the time of writing. Ethereum has gone up by 1.25% in the last 24 hours but it has been down by 10.82% in the last 7 days. Bitcoin tried to rebound, that's why ETH/USD turned to the upside. ETH/USD Temporary Rebound? ETH/USD found support right above the 50% (1,519) retracement level and now has managed to pass above the 38.2% (1,640) retracement level. Still, as long as it stays under the downtrend line, the bias remains bearish. Also, the weekly pivot point of 1,718 represents an upside obstacle. Only a valid breakout through the downtrend line and above 23.6% (1,790) could announce that the downside movement ended. ETH/USD Forecast Testing and retesting the pivot point and the downtrend line and registering only fasle breakouts could announce a new sell-off. A larger downside movement and a great short opportunity could appear only after a valid breakdown below the 50% (1,519) retracement level.   Source: Forex Analysis & Reviews: Ethereum struggling to rebound

Crypto Industry News: The upcoming transition of the Ethereum blockchain to the Proof-of-Stake consensus model is on the final straight. The network's developers have given the exact date of this event, which was named the Merge. As is the case with such advanced activities, certain complications are inevitable. This is where web programmers play a key role, reacting quickly to errors that occur. Peter Szilagyi, one of the developers of Ethereum (ETH) software, reported on Twitter that he ran into a bug that could damage the network system. He explained that it was probably a request to accept changes that were attached to create a new retention model or shrink the current one. Some time later, the developer indicated that the caught bug will affect people who are running the version 1.10.22 it was related to. He added that the problem of data loss appears after turning off the devices, hence their tests were not able to catch the error. Nevertheless, the programmers managed to fix the observed error quite efficiently. The Go Ethereum team created a patch that eliminated it. He then instructed users to upgrade backwards and go back to the previous version to check if everything was working properly. Technical Market Outlook: The ETH/USD pair has bounced from the technical support seen at the level of $1,559 and is currently approaching the 38% Fibonacci retracement level of the last wave down located at $1,719. The next technical resistance is seen at $1,756 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum is currently strong and positive, so the short-term outlook is bullish up to the 61% Fibonacci retracement level located at $1,836.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Relevance up to 08:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/289930

Relevance up to 10:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. The Ethereum Merge is one of the most anticipated events for the crypto community in 2022, with the end of the multi-year plan to shift to a Proof-of-Stake protocol now in sight. Alas, all technology-related things are not free from bugs. Earlier this week, Peter Szilagyi, an Ethereum software developer, tweeted that his team had found a regression that resulted in a corruptive state. In the later update, the developer explained the problem will likely affect those who are running the release in terms of corrupting their database and resulting in the loss of data. A solution to the problem was found after a day of work. The date of the Merge is confirmed. The Ethereum Foundation provided evidence that this latest bug had not derailed the planned launch of the Merge. On Wednesday, the Foundation posted a blog, saying that developers had officially confirmed September 6 as the transition date to a Proof-of-Stake protocol. This will be a two-step Merge: the Bellatrix stage and the Paris stage. The Bellatrix update will take place at 11:34 AM UTC on September 6. The Paris transition to Proof-of-Stake will occur between September 10 and September 20. These dates could change plus or minus five days due to shifts in block time and hash rate fluctuations.   Source: Forex Analysis & Reviews: Ethereum Merge coming soon

Relevance up to 10:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Ethereum is on the eve of a key event in its history, but even this did not keep the altcoin from falling. The cryptocurrency fell along with the entire market and tested the support level at around $1500. ETH managed to stop the fall and realize a local bullish momentum, gaining 4.5% over the past day. However, the asset has lost 7% of capitalization over the past seven days. As of August 25, Ethereum reached $1700, but should this be regarded as the end of the correction? On the daily chart, we see the full viability of the altcoin's local bullish momentum. Ethereum formed four uncertain candles in a row, indicating a decrease in overall trading activity and an advantage for buyers. The altcoin has reached a key support zone, which is on par with the final part of the bullish cup and handle pattern. Keeping the bullish pattern intact indicates that strong buying sentiment continues, suggesting a continued rise in the price of ETH. Technically, Ethereum also looks poised for a renewed upward trend. The main metrics of the asset indicate the activation of buyers and the presence of bullish momentum. The Relative Strength Index fell below 40 but then reversed upwards and crossed the 50 mark. The movement of the RSI directly indicates growing buying volumes and the presence of bullish momentum. The Stochastic Oscillator also confirms the price reversal and forms a bullish crossover near the oversold zone. The MACD also reverses and does not enter the red zone, which is an important bullish signal. Ethereum technical indicators indicate the final price reversal and the completion of the corrective movement. The main on-chain metrics also show an upward movement, which indicate a fundamental confirmation of the price rebound. The number of unique addresses on the ETH network has been showing strong growth since mid-August, suggesting an influx of new users and investments. This fact is confirmed by the growth in transaction volumes in the Ethereum network, which indicates a growing interest in the altcoin network. In other words, after a local correction, which was of a healing nature, Ethereum again attracts investors due to the fundamental factor for growth. In addition, there is an active accumulation of ETH coins by large buyers and miners. This creates a shortage of ether coins, which is especially valuable after inflation peaks in early August due to low fees on the ETH network. Active accumulation by long-term investors and a local decline in the overall trading activity in the Ethereum network had a positive impact on the cryptocurrency. According to the New supply on-chain indicator, the number of new coins is decreasing, creating an additional shortage of ETH in the open supply. However, despite all the positives, it is important to consider the correlation between ETH and BTC. In the coming days, there will be a Jerome Powell symposium, and statistics on unemployment and US GDP growth will also be published. This data can significantly affect Bitcoin, which, in turn, will pull Ethereum along with it. Therefore, if the medium-term prospects of ETH are not in doubt, then everything will depend on Bitcoin regarding the short-term situation.   Source: Forex Analysis & Reviews: Ethereum holds above $1500: altcoin correction completed?

After many years of announcements, the Ethereum Foundation yesterday set an official date for the complete transition to the Proof-of-Stake (POS) blockchain. As previously anticipated, there have been no delays, so the 'migration' is expected to begin as early as 6 September. The upgrade, known as 'Bellatrix', involves replacing ETH miners with validators, a kind of 'nodes' of the Proof-of-Stake system. They will be responsible for storing data, processing transactions and adding more chain blocks. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $60000.  The Ethereum Foundation expects to activate the Beacon Chain as early as 6 September. This is expected to be the first test connection to begin the complete transition to POS. The activation is scheduled for 11:34:47 UTC. After the initial activation, the Terminal Total Difficulty (TTD) triggering the Merge is expected to reach a value of 5875000000000000000000000000000. This is nothing more than the level of synchronisation of the blockchain, which will become a Proof-of-Stake (POS) chain once the threshold value is exceeded. The timetable is for this to be achieved between 10 September and 20 September. According to CoinDesk, Ethereum developers estimate that this moment will occur on 15-16 September. Merge could have an impact on the crypto world and its prospects. Its scale seems to surpass the ETH split of 2016 and could point to new areas of growth such as a Proof-of-Stake solution, energy efficiency and much lower commissions.  In addition to its impact on the development of technology and ETH, the transformation may also affect other tokens that are heavily influenced by the changing ETH blockchain. We are talking primarily about LDO, ETC and OP tokens. These are projects to which an upgrade could give new meaning.  Additionally, yesterday Vitalik Butterin, founder of Ethereum, published a post on Twitter in which he stated, "People continue to underrate how often cryptocurrency payments are superior not even because of censorship resistance but just because they're so much more convenient,". By this, he seems to be referring to the fundamentals of crypto and the changes to come.   Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: Merge receives official start date - what do you need to know?

Crypto Industry News: According to analysts, with the accelerating global de-dollarization trend, two assets that could benefit from it are gold and crypto space. Earlier this summer, Russian President Vladimir Putin said Brazil, Russia, India, China and South Africa (BRICS) were developing a new reserve currency based on a basket of currencies. "The issue of creating an international reserve currency based on a basket of our countries' currencies is under development," Putin said in the BRICS business forum at the end of June. "We are ready to openly cooperate with all honest partners." Five countries are also trying to create an alternative international payment mechanism, he added. BRICS can also see its membership expand, with Turkey, Egypt and Saudi Arabia considering joining the group. This is not the first time that something like this has been mentioned, as the BRICS countries are already starting to introduce more local currencies into payments in mutual transactions. According to the Deccan Herald, India and Russia held discussions about the mutual acceptance of RuPay and Mir local payment systems during the summer. Analysts see this new BRICS reserve currency proposal as an alternative to the US dollar and the International Monetary Fund (IMF) Special Drawing Rights (SDR) currency. Technical Market Outlook: The ETH/USD pair bounce had been capped at the 38% Fibonacci retracement level of the last wave down located at $1,719 and the market is reversing lower. The next technical resistance is seen at $1,756 and must be clearly violated in order to continue the up move. The key short-term technical support is located at the level of $1,559 and if clearly violated, then the next target for bears is located at $1,358. The momentum is currently strong and positive, so the short-term outlook is bullish up to the 61% Fibonacci retracement level located at $1,836.     Weekly Pivot Points: WR3 - $1,703 WR2 - $1,649 WR1 - $1,615 Weekly Pivot - $1,595 WS1 - $1,560 WS2 - $1,540 WS3 - $1,485 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358.   Relevance up to 08:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290117

Relevance up to 14:00 2022-08-27 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Red line -resistance Green line - support In our previous analysis on Ethereum we warned traders that price was challenging important Fibonacci retracement level at $1,720. Price got rejected at the 38% Fibonacci retracement and broke below the upward sloping short-term support trend line. Ethereum has pulled back towards $1,620 forming a higher low. If bulls manage to break above recent highs at $1,720, then we could see Ethereum move higher towards the 61.8% Fibonacci retracement. Until then, price remains vulnerable to a move lower.   Source: Forex Analysis & Reviews: Ethereum rejected at Fibonacci resistance.

Crypto Industry News: The COVID-19 pandemic has undoubtedly changed our lives. In March 2021, as many as 43% of respondents said that they visit brick-and-mortar stores less frequently. At that time, it was probably influenced by the fear of contracting the coronavirus. Then the situation normalized in May this year as this percentage has dropped to 20%, which is still a considerable value, however. It can be considered that the pandemic has permanently changed our habits and helped us learn to use the Internet in a new way. The number of consumers who choose to shop online is growing. In May 2022, as many as 33% of Poles declared that they prefer to order products this way rather than go to stationary stores for them. This is as much as 9 percentage points (an increase from 24%) more than in March 2021. However, 37% of survey participants mentioned high delivery costs as a barrier when shopping online, 36% - lack of trust in online retailers.The 16% of respondents declared that they intend to buy fewer physical items in the future. "It is expected that with the development of platforms such as the Metaverse, this percentage will increase," the authors of the report add. This means some opportunity for the NFT market. Consumers may in the future buy not a CD of their favorite artist, but digital music along with tokens that confirm the originality of the files. Technical Market Outlook: The ETH/USD pair has been seen making new lower lows as the price is approaching the technical support located at $1,358. The nearest technical resistance is seen at $1,530 - $1,559 and must be clearly violated in order to trigger the up move. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum remains weak and negative, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice.     Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281. Relevance up to 09:00 2022-08-30 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290334

The crypto market could have collapsed after Jerome Powell's heavily hawkish speech in Jackson Hole. That day, the leading tokens, bitcoin and ethereum lost 4% and 9%, respectively, and continued their declines over the weekend, reaching levels not seen in two months. On the Conotoxia MT5 platform, bitcoin is losing 0.5% today at 10:30 GMT+3. After breaking through the likely support level of $20750 on Friday, the token may have entered a short consolidation phase. However, given the potentially high level of pessimism in the market, it may be expected that this will not last long, with possible further downward movements ahead.  The BTC price is far below the 10-, 20-, 50- and 100-day moving averages. The nearest possible support levels are around $19300 and $18600. The MACD indicator and the directional indicator seem to indicate the continuation of the downtrend. The RSI oscillator may foretell its reversal, slowly entering the overbought area. However, since oscillators can usually give signals well ahead, one should be very cautious about this signal.  On the Conotoxia MT5 platform, ethereum is losing 2% today at 10:30 GMT+3. The token tested the likely support level of $1530 on Friday, then broke through it on Saturday. Unlike BTC, ETH has had a much more intense series of rises, and the potential for continued declines maybe even more tremendous. That's probably why the cryptocurrency hasn't even entered a short consolidation phase like BTC, and instead is set lower and lower on successive daily candles.  ETH is also below the 10-, 20-, 50- and 100-day moving averages. Popular technical indicators (RSI, directional indicator and MACD) seem to point to a continuation of declines. Even the RSI, which may look optimistic for BTC, has yet to reach the overbought area for ETH.  On the Conotoxia MT5 platform, the Cardano project's native token (ADA) is losing strongly today, falling nearly 2.5% at 11:00 GMT+3. Cardano is an ecosystem that allows developers to create tokens and decentralized applications (dApps) within DeFi. ADA uses the Proof-of-Stake (POS) blockchain. For a long time, the project has been considered one of the 10 best projects in the crypto world, according to a Forbes ranking. Currently, the token is most likely following the market and seems to be recovering from the increases over the last two months. The current declines in the crypto market may continue after the Fed chairman's hawkish speech. The expected pivot in monetary policy is likely to happen, but much later than investors anticipated. In the short to medium term, the speculative nature of cryptocurrencies and optimism about blockchain technology could be stifled by the recession, high-interest rates and lower disposable income.    Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.   Source: Crypto on fire - ETH and BTC are approaching price levels last seen in June

Relevance up to 16:00 2022-08-30 UTC+2 Red line -resistance Black lines- Fibonacci retracements Ethereum made new lower lows earlier today at $1,423. Price has reached the 50% Fibonacci retracement which was our next target after the rejection at $1,720 and the break of the support at $1,660. There are indications that price is preparing another bounce towards the important resistance trend line at $1,630. Price is making lower lows and lower highs after the top formation around $2,025. Price will remain vulnerable to more downside as long as it trades below the red trend line. Next downside target is the 61.8% Fibonacci level at $1,310. However first we should prepare for a bounce towards $1,600. Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.   Source: Forex Analysis & Reviews: Short-term technical analysis on Ethereum for August 29, 2022.

Bitcoin (BTC) In line with market expectations, the hawkish speech of the Federal Reserve chairman last Friday contributed to a significant decline in the cryptocurrency market at the end of last week. This fact caused Bitcoin to increase the scale of the depreciation lasting from August 15 to over 22.5%, slipping to the lowest level since mid-July this year. If this sale continues, BTC could soon return to the June and July lows, that is, to the region of USD 19,000. However, it is possible that, due to the relatively calm start of the new week, Bitcoin will see a slight upward recovery soon before it returns to the downward path. The catalyst for another sell-off may be the Wednesday and Friday data from the US labour market, which will undoubtedly significantly impact the Fed’s decision on the September federal funds rate hike scale. Ethereum (ETH) Looking at the Ethereum quotes, we notice that the price of this cryptocurrency fell by over 17% in the second half of last week, increasing the range of the depreciation that has been taking place since August 14 this year to a low of 30%. This sell-off plunged the ETH price below $ 1,780 technical support and below $ 1,575. The market is currently testing another $ 1,400 support. However, if this barrier is also overcome, then Ethereum could drop to USD 1,250. Bitcoin Cash (BCH) Over the past few days, Bitcoin Cash has slumped by over 20%, increasing the extent of the depreciation that has been ongoing since July 29 this year to nearly 33%. It also pushed the BCH back to $ 112, one of its lowest levels since mid-July. If the downward trend continues and the cryptocurrency drops below the currently tested support, it could continue its rally toward $ 97, which is another crucial support zone. Litecoin (LTC) Litecoin fell by 20% between August 14 and 20, breaking the bottom from an extended bullish wedge formation. This sell-off stopped at $ 52.50 technical support, where a demand response surfaced on August 20. Due to subsequent gains, the LTC returned to the ​​previously broken support (now resistance) area of $ 57.50, measuring a 38.2% Fibonacci correction from an earlier downward move. In the area of ​​this resistance, the supply response reappeared, and the quotes of this cryptocurrency once again fell to $ 52.50. Therefore, one can conclude that the LTC rate has stalled in the past few days in consolidation between the support at $ 52.50 and the resistance in the area of ​​$ 57.50. Given that the consolidations are corrective patterns and that the market had a downward move earlier, Litecoin is statistically more likely to break the bottom from the current layout, which could drive a further depreciation toward $ 42. Solana (SOL) We notice Solana’s quotations that the cryptocurrency has been moving from mid-June inside the bullish wedge formation. The last increases stopped in mid-August this year, near the upper limit of this system, where a supply reaction appeared again. The declines since then caused the SOL price to drop by almost 38%, breaking the bottom out of the wedge formation and beating the horizontal support of $ 32.50. If this trend continues, the quotations of this cryptocurrency could soon return to the region of the June lows, i.e. to USD 26. Polygon (MATIC) The Polygon cryptocurrency fell by more than 28% between August 14 and August 20 this year, slipping below technical support of $ 0.87. This sell-off stopped around the following support in the $ 0.75 region. The MATIC course has been in the horizontal trend for over a week. So we have a similar situation here as in the case of Litecoin. So if the currently tested support is permanently defeated, the MATIC could drop further to ​​$ 0.61, $ 0.45, or even $ 0.32. Ripple (XRP) Looking at the XRP quotations, we will notice that the price of this cryptocurrency has remained within a parallel growth channel since mid-June this year. After rebounding from the upper limit of this system at the end of July this year, the XRP rate stuck in a horizontal trend just below the local resistance of USD 0.39. The supply pressure observed on August 18 and 19 contributed to breaking the bottom out of this system. Moments later, the upward trend line was also broken, which was the lower boundary of the entire growth channel. This sale stopped only in the vicinity of the technical support of $ 0.3330, where there was a slight demand response on August 20 this year. However, the subsequent rebound only contributed to a re-test of the upward trend line and the previously defeated support (now resistance) of $ 0.36, which was the lower bound to the earlier consolidation. In reaction to the hawkish speech of the Fed chairman last Friday, the XRP rate rebounded from this resistance, and on Sunday, it fell even below the support of USD 0.333. If the downward trend continues, the price of this cryptocurrency could return to USD 0.30. Nem (XEM) We could also expect a continuation of declines in the Nem cryptocurrency quotes. Its price has dropped by more than 30% since August 11 this year, beating technical support of USD 0.048 and USD 0.043. If this trend continues, XEM could return to the May, June and July lows to the technical support of USD 0.037. Chainlink (LINK) We could also expect further declines in the Chainlink quotation. The LINK exchange rate rebounded on August 13 this year from the technical resistance of USD 9.30, the upper limit of the consolidation lasting from the first half of May this year. The recent sell-off contributed to the defeat of local support around USD 7.20, which may naturally drive a further depreciation towards the lower limit of the said consolidation, i.e. to USD 5.90.

Relevance up to 07:00 2022-08-31 UTC+2 Crypto Industry News: Mars Incorporated has signed an agreement with Universal Music Group. The latter company handles image licenses from NFT collectors who make up the virtual metaverse team - KINGSHIP. It's about graphics from BAYC and MAYC. As part of the new collaboration, there was a fairly original promotion of the NFT. Mars has released a limited edition of its sweets under the sign of two "MM". A gold gift box from M & M's hit the market. The number of such boxes was limited to only 100 pieces. According to the company, the series has already been sold out. The cost of one package was $ 99.99. However, this is not the end. Fans of sweets will also be able to buy brown boxes, which are a continuation of the "golden" ones. These will be numbered 101 to 4,000 and are still available. We encourage you, if you think it's worth spending $ 59.99 on candy. On top of all this, there are jars from M & M's printed with the image of the characters from the BAYC and MAYC series by KINGSHIP. Expense? Only $ 39.99. The jars were numbered from 1 to 6,000. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559 and the bounce continues higher towards the level of $16,54. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281. Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Source: Forex Analysis & Reviews: Technical Analysis of ETH/USD for August 30, 2022

Summary:  Since the largest Bitcoin exchange Mt. Gox was hacked in 2014, the trustee has managed to recover around 141,000 out of 850,000 Bitcoins. The recovered Bitcoins were rumored to be paid back to creditors this August. Yet, it seems that it will not occur in the next months, making the market wait in fear of potential imminent selling pressure. The market anxiously awaits 141,000 Bitcoins from Mt. Gox In 2014, the largest Bitcoin exchange at the time called Mt. Gox leaked a total of 850,000 Bitcoins through a hack. Out of a maximum supply of 21mn Bitcoins, the hack is the most consequential in the history of crypto, although there have been many other hacks. Though, the trustee managed to recover around 141,000 Bitcoins, which have to date not been paid out to creditors; that is clients with Bitcoins deposited to Mt. Gox back in the days. With a recovery plan approved by creditors last year, the payout is undoubtedly coming closer. It was rumored in July to take place this August. However, it now seems that it is still months away, as the repayment system is not yet live. Although the Bitcoins are likely not to be repaid in the coming months, it is expected to take place at some point. The market has been severely anxious with respect to the 141,000 Bitcoins potentially flooding the market immediately following the payout, since creditors may see it as a race in liquidating the Bitcoins before everyone else. Since Mt. Gox was hacked, the value of the Bitcoins has increased by a factor of 35, so the creditors might want to secure some profit. What speaks against this race to liquidate the Bitcoins is that the trustee is likely to repay the Bitcoins in installments one at a time. Likewise, these creditors are mainly strong Bitcoin advocates soon having been around for a decade. A substantial portion of them have already made life-changing money, so they are less prone to sell the Bitcoins. As the past has often proved, the anticipation of imminent heavy selling pressure is often more powerful for a potential downward trajectory than the selling pressure itself. Strictly speaking, we do not expect the repayment to pose heavy selling pressure, particularly if it occurs in relatively minor installments at a time. Yet, we have our eyes on the market’s anticipation of the repayment, because it might spread fear across the market since it is predominantly dominated by retail more inclined to fear. See you on the other side, dear NFT hype The crypto trend of 2021 was arguably non-fungible tokens (NFTs). The biggest winner of this trend was the largest NFT marketplace OpenSea, facilitating a volume worth $14bn in 2021. While OpenSea started the year nicely with an all-time high monthly volume of over $5bn in January, it has since seen its volume decline massively. OpenSea has recorded a volume worth $480mn in August so far, in which its volume barely exceeds $10mn some days. The declining volume is mainly a result of a less speculative market combined with diminished prices denominated in Ether and even more in dollar terms. Bitcoin/USD - Source: Saxo Group Ethereum/USD - Source: Saxo Group Source: Crypto Weekly: Anxiously awaiting 141,000 Bitcoins

The main altcoin continued its downward movement following Bitcoin, which broke through the $20k level amid disappointing statements by the head of the Fed. The situation around the altcoin looks more alarming given the presence of fundamental grounds for growth. However, the market is seeing signs of declining trading activity on the ETH network. A lot of questions are raised by the strategy of "whales," who are actively transferring ether coins to crypto exchanges, emptying cold wallets. Market participants regard this as an intention to sell large amounts of ETH and collapse the price.     The fundamental background in the form of the Merge update failed to save Ethereum from a direct correlation with stock indices. According to Santiment data, Ethereum closely follows the S&P 500 stock index. This proves the high level of Ethereum's dependence on macroeconomic events and also indicates that the upward movement of the cryptocurrency is limited by correlation with stock assets. Another negative factor was the announcement of the major crypto mining pool AntPool. The Bitmain subsidiary will not support client assets in Ethereum after the Merge update.     The resonant statement of AntPool is justified and goes far beyond the statement of one mining company. The fact is that the crypto community is seriously concerned about the issue of Ethereum censorship after the transition to PoS. This is largely dictated by the US sanctions policy regarding Tornado Cash. The position of Ethereum as one of the alternatives to the classical financial system, free from outside influence, has been significantly shaken. Investors are evaluating the risks of moving their assets to Ethereum 2.0 due to the chance of being censored and losing their funds. All these factors have become a catalyst for the decline in ether quotes last week.     However, the wide discourse around the ETH merger has favorably influenced the current position of the cryptocurrency. A temporary decrease in activity in the altcoin network led to a significant drop in fees. As of August 30, the transaction fee on the Ethereum network is $0.39. This provoked a lot of interest in the Ethereum network, due to which the number of addresses with a non-zero balance reached a new record at around 85,456,864. After a local pause, the Ethereum network also recorded an increase in trading volumes, which fully corresponds to the technical picture of what is happening with ETH.     Technically, Ethereum is showing resilience to selling pressure. The coin again fell to $1,500 but subsequently successfully defended this frontier. Following the results of August 29, a strong buying signal formed on the altcoin's daily chart. After testing the $1,500 level, Ethereum formed a "bullish absorption" pattern, suggesting the activation of buyers. It is important to note that the size of the bullish candle is twice the volume of the red candle for August 28. This is a positive signal that may indicate the emergence of an upward trend.   Just as importantly, thanks to the integrity of the $1,500 mark, ETH keeps the cup and handle pattern relevant. Therefore, the potential for an upward movement with a target up to $2,800 also remains relevant for the coming months. Despite the formation of a strong bullish signal, the technical charts do not look encouraging. The MACD indicator continues its downward movement in the red zone, which indicates that only a short-term upward trend is likely to form. The RSI index and the stochastic oscillator tried to develop an upward spurt during the formation of the "absorption" but subsequently acquired a flat direction.   Ethereum ends the last month of summer in uncertainty. Buying activity and institutional attention remain at a decent level, but this process does not find a significant reflection on the cryptocurrency charts. However, on the daily chart of Ethereum, we see clear signs of a decrease in correlation with the S&P 500. This is an important part of preparing for an upward movement before the confluence, as a drop in the level of correlation makes the altcoin more independent. As for the short term, ETH is able to reach the $1,700–$1,850 area. However, this week is full of important economic events that directly affect the quotes of ETH, SPX, and Bitcoin. For example, PMI data and non-agricultural employment data in the US economy will be released. These indicators play a key role in shaping Fed policy. With this in mind, we should expect increased volatility, in the coming days, rather than systematic growth towards certain targets. Relevance up to 09:00 2022-08-31 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320276

Crypto Industry News: Cryptocurrencies continue to face varying responses from governments around the world as some have accepted an emerging asset class while others try to ban certain aspects of their use to protect their financial interests. Japan sits firmly in the camp of promoting the benefits of cryptocurrency, as evidenced by a new proposal from the Financial Services Agency (FSA), a national financial regulator, which aims to ease the corporate tax on cryptocurrency profits to help bolster the economy. Based on a proposed revision, the FSA is trying to exclude companies from paying taxes on the paper-based cryptocurrency profits they hold after they are released. It also calls for the improvement of the scheme that gives tax credits to individual investors. The agency is taking this step to support Prime Minister Fumio Kishida's "New Capitalism" vision, which aims to revive the world's third largest economy. As part of his goal, Kishida is committed to helping Web3 businesses grow in the country and double the wealth of households. The current corporate tax rate of 30% is applied to profits from cryptocurrency holdings, including unrealized gains, prompting some companies to relocate to Singapore or other jurisdictions. This move by the FSA aims to combat this problem and encourage these companies to stay in Japan. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559, is up 13,67% and the market is consolidating the recent gains around the upper channel line. The next target for bulls is seen at the level of $1,654. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.       Relevance up to 08:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/290943

Bitcoin price plunged below $20,000. It was another day of disappointing activity in the crypto market as prices dipped in the absence of any major events, which is typical of a crypto winter. The bulls should show more strength to break the downward trend, which is still evident on the daily chart. The bears still have a small overall short-term technical advantage. As for where the price could move next based on the current state of the market, analysts warn of the possibility of a decline to $11,000 at worst, while noting that at the moment, at best, support is at the 2017 high. Boring day in the altcoin market: Activity in the altcoin market largely reflected the performance of bitcoin, with most tokens trading flat the day after an early decline. Ethereum (ETH) staking platform Lido DAO (LDO) leads altcoins for the second day in a row, gaining 11.3% as the Ethereum merger date approaches. Other notable indicators include a 9.75% increase for MXC (MXC) and a 9.54% increase for the Curve DAO (CRV) token. The total market capitalization of cryptocurrencies currently stands at $985 billion, with a Bitcoin dominance rate of 39.3%.     Relevance up to 12:00 2022-09-02 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320565

Crypto Industry News: OpenSea, the world's largest NFT market, after The Merge enters into force, plans to support only those NFTs that are based on the proof-of-stake version of the Ethereum blockchain. "First and foremost, we are solely committed to supporting the NFT in the updated PoS [Proof-of-Stake] chain"- said OpenSea in a series of tweets published at the end of August. This is important information because the platform is a tycoon when it comes to NFT trading. So far, Ethereum-related NFTs have been sold on it for around $ 31 billion, The Block reports. All of this sum - which eclipses the volume of NFT transactions linked to other blockchains - is for NFT trading, which is backed by the current version of Ethereum, which is based on Proof-of-Work (PoW). The aforementioned The Merge - the final stage of Ethereum's transition from PoW to PoS - means that Beacon Chain and its validators will become the new foundations of the ETH blockchain network. This will affect many different cryptocurrency projects that are already busy preparing for the switch. An example of the above would be the Ethermine mining pool. As of this writing, there are 222,657 active miners on Ethermine, totaling 261.1 terra hash per second (TH / s). After September 15, the pool will still support PoW mining, but only ethereum classic (ETC), ravencoin (RVN), ergo (ERGO) and beam (BEAM) will be affected. Technical Market Outlook: The ETH/USD pair has broken above the technical resistance seen at $1,530 - $1,559, is up 13,67% and the market is consolidating the recent gains above the upper channel line. The local high was made at the level of $1,618, so the next target for bulls is seen at the level of $1,654. The key short-term technical support is located at the level of $1,358 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, however, there is a bullish divergence seen on the H4 time frame chart between the price action (last low) and momentum. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,532 WR2 - $1,486 WR1 - $1,468 Weekly Pivot - $1,444 WS1 - $1,424 WS2 - $1,400 WS3 - $1,355 Trading Outlook: The down trend on the Ethereum might have been terminated at the level of $880. So far every bounce and attempt to rally is being used to sell Ethereum for a better price by the market participants, so the bearish pressure is still high. The next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.   Relevance up to 08:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291135

 Compound launches Compound III, a more streamlined version of the protocol. Arbitrum set for a major upgrade on 31 August. Uniswap eyes NFT financialisation with talks of NFT lending protocols. Weekly DeFi Index This week’s price, volume, and volatility indices were negative at -11.84%, -11.68%, and -25.42%, respectively. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight Compound, a borrowing and lending protocol on Ethereum, launched a new version called Compound III. It’s a streamlined version of the protocol with an emphasis on security, capital efficiency, and user experience. The biggest change is that the collateral remains the borrowers’ property and nobody else can borrow or withdraw it. Additionally, borrowers won’t earn interest on their collateral, which could enable them to borrow more with less risk of liquidation. Ethereum layer-2 scaling solution Arbitrum is set for a major upgrade on 31 August. Referred to as the ‘Nitro’ upgrade, it alleges to increase transaction throughput, slash transaction fees, and simplify cross-chain communication between Arbitrum and Ethereum.  Decentralised exchange Uniswap engaged in talks with multiple NFT lending protocols to build NFT financialisation. According to a social post from Uniswap’s head of NFT product, the company is interested in solving both liquidity issues and the “information asymmetry” surrounding NFTs. DEX Protocols Metrics Sources: CoinGecko, DeFi Llama, Nomics, Crypto.com Research Lending Protocols Metrics *LDR (Loan to Deposit Ratio) = Total Borrowed / TVLSources: CoinGecko, DeFi Llama, Crypto.com Research Charts on Layer 2 Projects Overall, the L2 market continued the downtrend, dropping by -8.41% in the last week and the TVL of all L2 categories fell. Optimistic rollup projects dropped by -7.61% and zero-knowledge rollup projects decreased by -3.50%. Ethereum’s TVL fell by -4.69%. The TVL for all major optimistic rollup projects were negative last week, and Boba Network plunged the most at -16.50%. Similarly, almost all ZK rollup projects’ TVL declined except dYdX, of which its TVL kept stable and grew +0.21%. Loopring plummeted the most at -10.27%.

The cryptocurrency market came under pressure on Thursday along with global financial markets as the US dollar index surged to its highest level since September 2002, at 109.96. As the dollar rose, few assets were retained: the S&P 500, DOW and NASDAQ were all in the red, down 1.03%, 0.45% and 1.81%, respectively. History shows that September can be challenging for the financial markets. As for when volatility will subside, it may continue for some time as bullish traders are still overwhelmed by bears. Further evidence that Bitcoin sentiment remains negative was provided by crypto analytics firm Santiment, which showed an increase in average BTC funding rates. According to the average BTC funding rate on Binance, BitMEX, DYDX and FTX, the reaction to Friday's drop was the most aggressive since May, as repoted by Santiment. Ethereum shorts are accumulating. One of the biggest stories in cryptocurrency right now is the upcoming Ethereum (ETH) merger, projected to happen on September 15. At a time when many expected a "buy the rumor, sell the news" type of event, it starts to look like the merger has already been booked, prompting investors to position themselves ahead of a potential price drop. Santiment did warn to go along with the expected Ether price pullback, highlighting the fact that price increases have historically been more common under such conditions. In general, it was a negative day for the crypto market. A quiet day in the altcoin market: Of the top 200 coins listed on CoinMarketCap, Decred (DCR), which added $11.7, was the best performer for the day, followed by an 11% gain in Balancer (BAL). The total market capitalization of cryptocurrencies currently stands at $967 billion, with a 39% Bitcoin dominance rate.     Relevance up to 09:00 2022-09-03 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320663

The impending Merge (transition from POW to POS) of ethereum seems to be affecting ENS domain sales. Major crypto companies are not staying idle in the face of the chain transition and are becoming big stakeholders in the test "Beacon Chain". Ethereum Name Service (ENS), is a project that offers naming and recognition services for ETH wallets, in an operation similar to Internet domain naming, or DNS (domain name service). August became the third-best month in its annual history after ENS domains accounted for 2744 ETH or around $4.3 million in revenue.  According to ENS data for the past month, as many as 301,000 new .eth domain registrations were made and 34,000 new accounts were opened using at least one ENS name. The total of all .eth registrations now stands at 2.2 million names. The biggest convenience of the Ethereum Name Service is the ability to identify an ETH wallet by a short unique name in the .eth domain, instead of by an approximately 42-digit code. This simplifies token and NFTs transfers, as well as facilitates payments. In addition to these benefits, .eth domains, like .com, .net or .org internet domains, could be sold and may have their own unique NFTs.  The mentioned Merge involves ethereum moving from a proof-of-work blockchain to a proof-of-stake which, in a nutshell, means a different system of validating (confirming) transactions that are more energy efficient and cheaper, due to the use of economies of scale. ENS address registrations appear to be accelerating steadily. The record to date was set in July, when some 378,000 new names were registered. Although the role of domains in Merge itself is rather small, their increasing number may be a sign of the growing interest in ETH and the move to a cheaper and more efficient proof-of-stake (POS) infrastructure. The inevitable centralisation of DeFi? According to data from Dune Analytics and Nansen, crypto companies provide more than 66% of the staked ETH. This means that most companies such as Lido, Coinbase and Binance are likely to be responsible for a large proportion of transaction validation on the new ethereum system. Such entities, called validators, are supposed to be a kind of 'thread' of the new POS system. They will be responsible for storing data, processing transactions and adding more blocks to the chain. Each validator is expected to hold a min. 32 ETH - at the current price, this is approximately $51,000. Holding tokens makes such entities large depositories across the blockchain. This news has raised discussion on social media regarding the centralisation of the new blockchain, because with so much validation of POS transfers from institutions, can we really talk about DeFi? It seems that the ETH developers are aware of this drawback, but in order to make ETH efficient, reduce costs and further develop the ecosystem, they have decided to move towards a proof-of-stake blockchain. On the Conotoxia MT5 platform, ETH is gaining around 0.5% today at 11:30 GMT+3, already drawing its sixth daily bull candle. The consolidation seems to have put the token's price above the 10 and 100-day moving averages. Rafał Tworkowski, Junior Market Analyst, Conotoxia Ltd. (Conotoxia investment service) Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 82.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Source: The Ethereum Name Service reports third-best month ever (conotoxia.com)

Market picture Bitcoin declined 0.4% over the past week, ending at around $19,900 without experiencing any significant movement during that time. For now, we can only say that the crypto market is wagering on the strengthening of the dollar, and to a markedly lesser extent than other markets. Ethereum added 5.9% to $1570, while other leading altcoins from the top ten showed mixed dynamics: from a decline of 1.3% (BNB) to a growth of 13% (Cardano). Total crypto market capitalisation, according to CoinMarketCap, rose 2.5% over the week to $976bn. The cryptocurrency Fear & Greed Index lost 8 points over the week to 20, returning to "extreme fear" status. Read next: ECB Will Continue To Hike Rates To Slow Inflation? | FXMAG.COM Bitcoin stood aloof from key market movements last week, moving on a short leash around $20K. Meanwhile, tectonic shifts were taking place in the markets as the dollar continued to renew multi-year highs and stock markets returned to a sell-off. Cardano rose sharply at the end of the week on the back of the news. IOHK, the company behind the Cardano project, has set a date for Vasil's update - the largest and most important hardfork in the project's history will take place on September 22. News background According to analytics service TipRanks, HODLers are refusing to sell the cryptocurrency. 62% of wallets hold bitcoins for more than one year. 32% of addresses control BTC for 1 to 12 months, and only 6% of investors hold cryptocurrency for less than 30 days. At the same time, both profitable and unprofitable addresses have a 48% share. Bitcoin miners' revenues in August amounted to $657 million and increased for the first time since March. The growth in revenues was helped by the growth of the first cryptocurrency's network hash rate. Despite the crisis, investor confidence in cryptocurrencies increased slightly over the quarter. 65% of retail investors and 70% of institutional investors trust digital assets, according to a survey by cryptocurrency exchange Bitstamp. Read next: Rising Interest Rates. How High Can They Rise?| FXMAG.COM Cryptocurrencies are helped by the aura that, in the long term, they are more promising than stocks and other risky assets, as they are at an early stage of adoption and still undervalued by the market. Ethereum co-founder Vitalik Buterin called the current bear cycle expected. In his view, Terra's collapse and market decline are a boon for the crypto industry, as they help identify problems and unsustainable business models well. With the rising capitalisation of the crypto market, the DeFi sector could pose long-term risks to financial stability, according to the US Federal Reserve.

Crypto Industry News: The International Football Federation (FIFA) is gearing up to open its new NFT token platform later this month. To start with, FIFA + Collect will release a number of initial token collections and reveal details of its upcoming exclusive and limited collections, the organization said in a published press release. The digital collections will represent unforgettable moments from soccer matches and feature iconic art and photos from the FIFA World Cup and the FIFA Women's World Cup. "This exciting announcement makes FIFA collectibles available to every soccer fan, demonstrating the possibility of owning part of the FIFA World Cup. [...] Fandom is changing and soccer fans around the world are engaging in new and exciting ways ... Like sports memorabilia and stickers, this is an opportunity available for fans around the world to connect with their favorite players, moments and more "commented Romy Gai, Chief Business Officer of FIFA. FIFA + Collect will be available on FIFA +, the federation's digital platform that provides access to live soccer matches from around the world, interactive games, news, tournament information and other original content. FIFA + Collect will initially be available in three languages - English, French and Spanish - with more coming soon, as well as on web and mobile devices. Technical Market Outlook: The ETH/USD pair had extended its move to the upside, was up 15,76% at one point during the weekend, however, the bulls were having problems with the technical resistance located at $1,654. The immediate technical support is seen at $1,530, but the key short-term technical support is located at the level of $1,425 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive, but not that strong and is hovers very close to the level of fifty. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.     Relevance up to 09:00 2022-09-06 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291355

PRESS RELEASE Warsaw, 31.01.2022 Bartłomiej Zagrodnik, Managing Partner/CEO of Walter Herz In the upcoming time, modern workplaces, full of new technologies and creating a friendly environment for users, will gain more and more importance. Office buildings operating in accordance with ESG principles, new environmental, social and corporate governance, especially those located in the city centers will take the leading position. Further changes on the office market will be largely determined by the pace of adaptation of the hybrid work model in companies. If we look at today's market, we can see that hybrid work is slowly becoming the norm. Companies are open to this model, which is related to the preferences of employees, who more and more often expect employers to be more flexible in the choice of the form of work and working hours. Many young people base their interest in the job offer and the willingness to take part in the recruitment on it. Therefore, in the upcoming years, offices will evolve into spaces adapted to the rotational work model. Clearly, it is not possible to introduce a division into remote and office work in all sectors. However, for example, in the area of IT, finance, administration and accounting, or services for business, marketing, customer service and HR, we can expect a gradual spread of the hybrid work model. Flexible rental option In the upcoming years, some companies will probably decide to reduce the amount of office space they occupy. Although the scale of this phenomenon so far, contrary to appearances, is not as large as it may be assumed, the tendency is visible. Certainly, tenants will also look for increasingly flexible solutions, thanks to which they will be able to use office space in many ways, adapting it on an ongoing basis to the changing needs of the company. The number of companies that will decide on the core & flex option, assuming a combination of traditional space and the use of flexible space, will increase. This direction in the selection of space for work by entrepreneurs is noticed by the owners of office real estate, who include flexible spaces in the pool of amenities in their buildings. It is also grist to the mill to the companies offering flex space. The segment is systematically growing. This year, more coworking spaces are scheduled to be opened all over Poland. It is likely that an increasingly popular option will also be subscriptions to access coworking networks with space available in various locations. It should be noted that buildings located in central parts of the cities are now even more popular than before. This is visible in, for example, last year's lease structure in Warsaw, where most of the leased space was located in the city center. The offices themselves are also changing. Their space is even more adapted to interactive group work. It gains open space, which, with low office occupancy, gives employees a sense of greater comfort. At the same time, access to quiet working areas and social areas is also important. New investors We are glad that many entities are planning to enter the Polish market. It will result in spaces potentially reduced by some industries, gaining new occupants. One of the main sectors that has been dynamically developing in Poland for years, and is the tenant of a large part of offices is the industry that provides modern services for business. Growing employment in this segment is related to the constant influx of new investors to our country and the development of organizations already present on the Polish market. Large-scale recruitment is taking place in the sector. Most jobs are offered today by companies from Great Britain, Switzerland, the Netherlands, Belgium and Germany, which have recently decided to transfer their services to our country. Sector companies are constantly opening new recruitment processes, but there are fewer candidates than job positions. Also in this industry, the expectations of employees and employers differ. Most of the employees, who are generally flooded with job offers, expect to work in a hybrid or fully remote system, while the employers want to return to the offices. I believe that this year we can expect more tenant activity, which will translate into a decline in the office vacancy rate in the country. Across the world, we can already observe a great return to offices. Symptoms of the reversal of the downward trend in the office sector could already be observed on our market in the last quarter of 2021. In Warsaw, in the last three months of last year, tenant activity returned to the level seen before the pandemic. Only the fourth quarter of last year was responsible for as much as 40 per cent of space leased on the Warsaw market throughout all of 2021. Last year, the demand for Warsaw offices reached almost 650 thousand sq m. of space, while almost 325 thousand sq m. of new offices were launched onto the market. Almost 80 per cent of the commissioned space is located in the center. Similarly, most of the contracted offices are located centrally. Demand is rising, supply is dropping Unfortunately, most office investments are still frozen. Developers are cautious about building new projects. In Warsaw, half as much office space is under construction compared to 2019. Investments are being slowed down by the rapidly growing costs of real estate development, amidst unstable market conditions. If the situation does not change and new projects are not launched in the next 2-3 years, we may have a shortage of space in the main office markets in the country. On the other hand, the activity of investors is growing, but they have more and more requirements in terms of the quality of buildings, including ESG. There is a growing demand for modern office buildings that meet restrictive requirements related to ecological parameters, located in the largest cities in the country. The estimated value of the transaction volume on the investment market in Poland in 2021, is similar to the level achieved in 2020. However, we expect an increase in the dynamics of the investment market in the upcoming months and a greater inflow of capital to Poland. There are many transactions concerning projects from the office segment that have recently entered the market that are being negotiated nowadays, therefore this year should bring an improvement in results. Critical ESG ESG issues will be of key importance for investors' decisions. It is not only about the growing general awareness of sustainable development and the impact of construction and buildings on the environment, but also about the adopted requirements and the related need to report on ESG activities. Investment strategies will be closely connected to the acquisition of assets and cooperation with companies that offer a product that meets environmental requirements. It will have a significant impact on the real estate market in the upcoming years and the value of assets. Investors and tenants will expect low-emission office buildings, or plans to achieve that goal. Facilities offering solutions in the area of ​​climate technologies will gain a competitive advantage. Trends related to the certification of buildings in terms of user-friendly impact and guaranteeing their full safety, will also become stronger. About Walter Herz Walter Herz company is a leading Polish entity which has been operating in the commercial real estate sector across the country. For nine years, the company has been providing comprehensive and strategic investment consulting services for tenants, investors and real estate owners. It provides extensive support for both public and private sector. Walter Herz experts assist clients in finding and leasing space, and give advice when it comes to investment and hotel projects. In addition to its headquarters in Warsaw, the company operates in Cracow and the Tri-City. Walter Herz has created Tenant Academy, first project in the country, supporting and educating commercial real estate tenants across Poland, with on-site courses held in the largest cities in the country. In order to ensure the highest ethical level of services provided, the agency introduced the Code of Good Practice.

ETH perpetual futures funding rates at record lows. BTC options skews spiking as puts are being bid up. BTC hovering around short-term RSI oversold levels. Chart of the Week: Perps Funding Rates at New Lows There has been a flurry of activity in ETH derivatives markets as the expected mid-September date of The Merge closes in. Perpetual futures funding rates are printing at record negative levels, potentially implying caution from traders as they look to hedge downside risks. Previous issues of Market Pulse highlighted record open interest in options and record negative futures basis.  Fund Flow Tracker Aggregated exchange balance of ETH fell sharply to new lows during the past week, while BTC’s saw a bounce. Derivatives Pulse The BTC put-call ratio and skews (puts-minus calls) rose over the past week, implying increased cautious sentiment. Implied vols for both BTC and ETH were mostly flat during the past week. 1-week implied vol currently stands at 60.3% (vs. 65.3% a week ago) and 89.1% (vs. 98.9% a week ago) for BTC and ETH, respectively. Asset managers’ net-long position in CME Bitcoin futures dropped to the lowest level since February 2022, and leveraged traders’ net-short position continues to reduce.  Leveraged traders are typically hedge funds and various types of money managers, including commodity trading advisors and commodity pool operators. The traders may be engaged in managing and conducting proprietary futures trading, and trading on behalf of speculative clients. The asset manager category consists of institutional investors, including pension funds, endowments, insurance companies, mutual funds, and those portfolio/investment managers whose clients are predominantly institutional. The dealer category consists of participants typically described as the “sell-side” of the market. These include large banks and dealers in securities, swaps, and other derivatives. The other reportable category consists of traders mostly using markets to hedge business risk, and includes amongst others corporate treasuries. Technically Speaking The drop in BTC price has it hovering around short-term oversold levels based on the 14-day Relative Strength Indicator (RSI). Price Movements News Highlights Chicago Mercantile Exchange Group (CME Group), the world’s leading derivatives marketplace, has launched Euro-denominated Bitcoin and Ether futures. Meitu reported an impairment loss of over US$43M on its crypto holdings. Credit Suisse disclosed that it held US$31M in “digital assets” for clients as at the end of Q2 2022. Stacked, a Web3 streaming platform, has completed a US$12.9M Series-A funding round led by Pantera Capital. Catalyst Calendar Disclaimer: The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners.

Crypto Industry News: The organization that builds the Cardano blockchain (ADA) Input Output Global has confirmed the date of the long-awaited Vasil hard fork. It will be carried out on September 22, which is roughly a week after Ethereum Merge. Cardano's price response looks quite lethargic despite the positive news, which perfectly illustrates the terrible sentiment on the cryptocurrency market. The quick deadline of the fork is all the more surprising because in the past developers reported postponing the event due to a significant amount of bugs and ambiguities during testing. At the same time, Cardano developers with Charles Hoskinson are rather meticulous, so the faster implementation date is rather a glove to Ethereum, because according to the developers it is Vasil's hard fork that is the most significant update of Cardano in history, which will ultimately increase network bandwidth and ensure lower transaction costs thanks to which it will increase the competitiveness against the recently popular Bitgert. Technical Market Outlook: The ETH/USD pair had extended its move to the upside again. The bulls had managed to rally 17.62% so far and are currently testing the technical resistance located at $1,654. The immediate technical support is seen at $1,530, but the key short-term technical support is located at the level of $1,425 and if clearly violated, then the next target for bears is located at $1,281. The momentum is positive and very strong, however the overbought market conditions can be seen on the H4 time frame chart. The larger time frame trend (daily and weekly) remains down until further notice. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.           Relevance up to 08:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291532

Technical outlook: Ethereum climbed through the $1,675 high during the early trading hours on Tuesday as was projected earlier. The crypto is seen to be trading close to $1,665 at this point in writing and is expected to push through $1,745 and up to $1,800 in the near term. As projected on the 4H chart here, the resistance zone is seen through the $1,800-05 area. Ethereum has already carved a meaningful downswing between $2,031 and $1,423 since August 14. The above drop is being worked upon and might retrace up to the Fibonacci 0.618 levels seen at about the $1,800 mark. Immediate price resistance is seen at $1,722 and a push higher will test $1,750 and above. The bears might be poised to come back in control thereafter. Ethereum is currently working to carve a counter-trend rally since printing lows at $1,423. The crypto is currently testing the Fibonacci 0.382 retracement of the above downswing and might correct lower. ETH is expected to resume towards $1,800 thereafter. Keep a watch at around $1,540 for intraday support. Trading plan: Potential rally through $1,800 against $1,400 Good luck!     Relevance up to 12:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291596

The cryptocurrency market is approaching a controversial period—autumn. On the one hand, the market has cheered up due to the upcoming Merge update and the likely easing of monetary policy due to the US congressional elections in November. At the same time, Bitcoin has historically had a bad September. The probability of maintaining this trend increases significantly, given the high probability of a 75 basis point rate hike. Despite all the inconsistency of the situation, Bitcoin and Ethereum still have chances to spend September on a bullish note. Bitcoin remains within the narrow range of fluctuations of $19k–$20k. The area formed after the breakdown of the key support level at $20.8k. Bearish pressure forced the cryptocurrency to move to the consolidation stage, but the process is moving very slowly. Glassnode experts note that BTC network activity is at a local low. Given the volatile nature of the upcoming economic events, the probability of an increase in trading volumes increases significantly. The current lull is also fundamental. Markets are pricing in a 70% chance of a 75 basis point rate hike in September, according to BBG analysts. On Thursday, Fed Chairman Jerome Powell will speak at the Cato Institute conference. Given the market reaction to the official's previous speech, there is every reason to believe that Powell will give the market clues about the Fed's next steps. Given the pessimistic expectations of the market, hints of a rate hike within 50 basis points could have a positive impact on the short-term prospects for the cryptocurrency market. The ECB meeting will be the second major event on Thursday. The meeting of the Bank will consider the issue of the level of the key interest rate and the interest rate on the deposit line. Most experts are inclined to increase the indicator by 100 and 50 basis points, respectively. For the cryptocurrency market, this will be a negative signal, as it will untie the hands of the Fed and allow you not to look back at the position of the euro against the US dollar. For the most part, Thursday will show which direction the stock and crypto markets will move in the coming weeks. Technically, Bitcoin continues to trade sideways for the tenth day in a row. Trading volumes remain low, which does not allow one of the parties to take the initiative. Technical indicators continue to move sideways without the presence of impulse movements in any of the directions. At the same time, the stochastic oscillator once again tries to enter the green zone, forming a bullish crossover. However, given the trading volumes, this attempt will not be successful. With regard to BTC/USD, the bearish idea remains relevant with a gradual breakdown of the $19k–$19.5k support zone, after which the asset may retest the local bottom. As of September 6, Bitcoin does not have the potential to be bullish and consolidate above $20.5k. The long-awaited transition of Ethereum to the Proof-of-Stake algorithm begins today. Ethereum's bullish potential could increase significantly if the cryptocurrency manages to successfully complete the merger of networks as part of the first stage of the Merge. Against the backdrop of the process that has started, investor interest in ETH is starting to grow again. The cryptocurrency has successfully broken through the $1,600 level and continues its upward movement. Given the nervousness surrounding Ethereum's transition to the new algorithm, the importance of today's merger phase cannot be underestimated. If everything goes according to the planned scenario, then we can expect the continuation of the bullish movement to the $1,800–$2,000 range. Ether's technical metrics support the thesis that the recent drop in Ether was a healing corrective move. As of September 6, the bullish mood of ETH investors is again showing an upward trend. The Relative Strength Index crossed 40 and continues to move upward, indicating growing buying power. The stochastic oscillator indicates a high level of bullish sentiment and a fast implementation of bullish patterns. The situation around ETH/USD is becoming more and more bullish, and among the immediate targets of the asset, it is worth highlighting the range of $1,650–$1,700. If this area is broken, the price will go to the final resistance line for the last six months at $1,800–$2,000. These are the short-term goals of Ethereum with a favorable development of the situation. In the long term, the target of $2,800 remains relevant.   Relevance up to 10:00 2022-09-07 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/320933

The Ethereum blockchain is on the verge of a major and risky upgrade. This upgrade, if successful, would greatly reduce electricity use. This, in turn, would increase Ethereum’s acceptability to policymakers and financial institutions An ambitious upgrade to the world's second most important blockchain After a long period of anticipation, and if final tests go well, the world’s second blockchain Ethereum will probably transition from “proof of work” (PoW) to “proof of stake” (PoS) later this month. This means that transactions on the Ethereum blockchain will no longer be recorded by miners that spend a lot of computing power to prove they worked hard to verify transactions. After “the merge”, transactions will be processed by validators, that have staked Ether (in other words, put collateral in escrow) that can be forfeited if it turns out they were acting in bad faith. The discussion about the pros and cons of PoS vs PoW is almost as old as Bitcoin, and we can’t represent all arguments here. What we’re interested in, is that this transition to PoS may over time increase the acceptability of Ethereum, and all of the apps built on top of it, for policymakers and regulators. This in turn may provide a boost to traditional financial institutions' willingness to develop Ethereum-based services. Ethereum is not the first blockchain to adopt PoS. But it is generally considered the most important blockchain after Bitcoin, and Ethereum is a key building block of the decentralised finance universe. Moreover, Ethereum won’t go down for scheduled maintenance over the weekend to upgrade the network. Instead, as ethereum.org describes it, the new PoS-engine will be hot-swapped in mid-flight. A flight which hosts a variety of apps, tokens and platforms. What could go wrong? The stakes for the upgrade are high Indeed, while the Ethereum community has spent a lot of time testing PoS (the PoS testing ground called “beacon chain” has been running since December 2020), implementing such a fundamental upgrade while the network keeps running, is ambitious. As anyone who has ever tried to quickly upgrade the operating system on their computer will know, there are almost always unexpected hiccups that end up taking much more time than anticipated. We expect leading Ethereum developers to be pulling all-nighters glued to their screens during the upgrade. Another question during the upgrade is how Ethereum miners will respond. They have invested in dedicated hardware, typically GPUs, that can no longer be used for mining Ethereum after the upgrade to PoS. Some miners may decide to continue the PoW-based blockchain, creating a “fork”. Such a duplication of the blockchain with all its tokens creates a variety of problems e.g. for exchanges and traders. Luckily, the crypto community has gained experience managing such forks over the years. A successful upgrade would make Ethereum much more acceptable... Describing all these challenges, you may start to wonder why Ethereum embarked on this project at all. Apart from improved scalability, the main reason is a drastic reduction in electricity consumption. Ethereum.org claims a 99.95% reduction in electricity consumption following the switch to PoS. An important non-technical consequence of this great reduction in electricity need is that it may render Ethereum more palatable to policymakers and regulators. When the European Parliament discussed the EU’s incoming Markets in Crypto Assets Regulation earlier this year, sustainability was an important topic. Policymakers are uncomfortable with the PoW consensus mechanism’s high electricity use. To be sure, the pros and cons of PoW vs PoS are food for a fundamental and often heated debate, which has many more nuances than the –admittedly impressive– kWh figures suggest. We cannot do justice to this debate in this short piece. It is clear though that the switch to PoS removes power consumption as a problem for regulators. This, in turn, removes one stumbling block for traditional financial institutions and other companies to offer Ethereum-based services, although other obstacles may remain. ...though Proof-of-Stake is not the answer to life, the universe and everything either So what’s not to like about PoS? Apart from migration risks, PoS has its own challenges. For example, its code is much more complex than PoW. This may create new vulnerabilities. Hackers will certainly be exploring the new infrastructure for flaws. Another issue is that PoS creates a new form of inequality. With PoW, there once was a sense that everybody can join in and start mining. With PoS, in contrast, the “wealthy” can stake a lot of Ethereum and reap most of the validation rewards, further increasing their wealth. Yet the reality is more nuanced. PoS staking pools do provide opportunities for those with less Ether to spare. And with PoW on the other hand, the days that an old laptop was sufficient for mining, are long gone. Some people worry about increased possibilities for censorship by PoS validators. Yet in principle, PoW miners could apply censorship as well. It is also not evident that PoS will lead to a more concentrated validator landscape than PoW, where miners have been cooperating in mining pools for a long time. In the end, it’s less the technology that makes the difference, but rather the attitude –and regulation– of those using it. More generally, there is a tradeoff between censorship resistance and the application of anti-money laundering and sanctions policies which are required to render cryptocurrency acceptable to regulators. In the end, compromises need to be struck here.   Ethereum’s upcoming migration from PoW to PoS may be the biggest planned event in cryptoland this year. The migration itself and its aftermath carry risks, and will be closely watched within the crypto community. A successful migration would be a compliment to the Ethereum community’s ability to manage big events. It would also remove an important obstacle to acceptability of Ethereum to regulators and hence development of Ethereum-based services by traditional financial institutions. Read this article on THINK TagsSustainability Regulation Cryptocurrency Banks Disclaimer This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more

Crypto Industry News: The Ethereum merger could force many cryptocurrency miners to give up and abandon their expensive mining rigs in the midst of a profit race. The transition of the Ethereum network from Evidence-of-Work (PoW) consensus is likely to flood the crypto industry with idle Etherum (ETH) miners, causing severe disruption to all PoW tokens. Andy Long, CEO of White Rock bitcoin mines, said in an interview that the upcoming Ethereum merger will force PoW miners to look for more profitable ways, such as other PoW blockchains, and thereby "flood" other coins - increasing the difficulty of mining and reducing profitability: "The hash rates will flow to alternative coin PoW GPUs, and many miners will simply give up and try to sell their graphics farms," he said. However, there are still many cryptocurrencies that will continue their PoW path, including BTC, Litecoin (LTC) and Bitcoin Cash (BCH), as well as Ethereum Classic (ETC), Monero (XMR), Zcash (ZEC) and Ravencoin (RVN) . Technical Market Outlook: The ETH/USD pair had managed to rally 17.62% before the rally was capped at the level of $1,685 and the Gravestone Doji candlestick pattern was made on the H4 time frame chart. The market reversed almost all of the recent gains and broke below the technical support located at the level of $1,530. The next target for bears is seen at the level of $1,476 and at the last swing low located at $1,425. The momentum is weak and negative, which supports the short-term bearish outlook for ETH. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.       Relevance up to 08:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291735

Bellatrix goes live on Ethereum’s Beacon Chain. MakerDAO’s co-founder Rune proposes ‘Endgame Plan’ to free-float DAI. KyberSwap suffers front-end hack and attacker moves US$265,000 worth token. Weekly DeFi Index This week’s price and volume indices were negative at -4.42% and -15.98%, respectively, while the volatility index was positive at +30.46%. Check the latest prices on Crypto.com/Price DeFi Index Tokens News Highlight The Bellatrix hard fork, the last major upgrade before Ethereum’s The Merge, was activated at epoch 144896 on the Beacon Chain. The purpose of this upgrade is to ensure validators are producing updated Beacon Chain blocks that will set up the codebase ahead of The Merge. Now, the last step is Paris, which will trigger the migration from proof-of-work to proof-of-stake upon hitting a specific Terminal Total Difficulty of 58750000000000000000000 (expected between 10 to 20 September 2022). Following the sanction on Tornado Cash in August, MakerDAO Co-founder Rune Christensen proposed an “Endgame Plan” to save DAI from regulatory capture. The plan would gradually reduce the real-world assets exposure, with the eventual goal of turning DAI into a free-floating asset. The proposal has received divergent opinions from the MakerDAO community. Kyber Network, the liquidity protocol on which KyberSwap is built, confirmed a front-end hack on 2 September. The attacker compromised the app’s front-end through the Google Tag Manager (GTM) script, which is generally used to track user activity and data for analytical purposes. Although Kyber identified the malicious codes and fixed them in a few hours, the hacker managed to move US$265,000 worth of Aave Matic interest-bearing USDC (AMUSDC) tokens in four transactions. Charts on Layer 2 Projects Overall, the L2 market TVL downtrend narrowed down, dropping by -2.38% in the last week. Optimistic rollup projects dropped by -1.37% and zero-knowledge rollup projects decreased by -4.36%. Ethereum’s TVL increased by +1.71%. The TVL for all major optimistic rollup projects were negative last week, and Metis Andromeda declined the most at -4.28%. In ZK rollup projects, StarkNet was under the spotlight as its TVL grew by +4.49%, followed by ZKSwap 2.0 (+0.8%). Loopring and dYdX saw a decline in TVL at -4.95% and -4.97%, respectively.

Blue line- neckline support In a previous analysis we noted the formation of a potential Head and Shoulders pattern in Ethereum. Price made a lower high yesterday and is turning lower towards the important short-term neckline support. Support is found at $1,717-10 area. A break below this level will activate the H&S pattern and provide us with an important bearish signal. Price continues making lower highs which is a sign of weakness. Ethereum remains vulnerable to more downside as long as price is below $1,720. Read more: https://www.instaforex.eu/forex_analysis/291786   Relevance up to 13:00 2022-09-08 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291786

Crypto Industry News: Industry experts warn of the potential consequences of the Ethereum merger for other cryptocurrencies that run on Proof of Work (PoW) consensus algorithms. With Ethereum moving to the proof-of-stake Beacon Chain, many miners will have a problem. Those who have secured the Ethereum blockchain will look to continue mining in other PoW chains. Ethereum Classic (ETC) saw its token value increase by more than 10% in early September when blockchain explorer and mining pool operator BTC.com launched the zero-fee ETC pool over a three-month period. Technical Market Outlook: The ETH/USD pair had reversed almost all of the recent losses and is currently back below the last local high seen at the level of $1,685. The nearest technical support is located at the level of $1,513 and $1,475. The momentum is strong and positive again on the H4 time frame chart, so the bulls are ready to break above the local high from $1,685 and test the nest technical resistance located at $1,722. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.     Relevance up to 08:00 2022-09-09 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291899

Technical outlook: Ethereum has rallied through the $1,657 highs after recovering from the $1,489 lows on Wednesday. The price action is in line with our projection as the bulls prepare for another push towards $1,700-10 in the near term (intraday). The bulls are looking poised to remain in control holding prices above the $1,489 interim lows going forward. the price is looking higher towards $1,750 and $1,800. Ethereum has carved a larger-degree downswing between $2,031 and $1,423 as seen on the 4H chart here. Since then, the crypto has been unfolding a corrective rally, which seems to have completed two waves at $1,722 and $1,489. Further, the bulls are now progressing into the final wave towards $1,800, which is also the Fibonacci 0.618 retracement of the earlier drop. Ethereum is currently working on its first lower-degree upswing between $1,489 and $1,657-1,700. Once the price action is over, prices could drop lower in a corrective manner but they still stay above $1,489. The bulls will be poised to be back in control thereafter and push through $1,800 before giving in to the bears. $1,489 should remain intact for the above structure to hold. Trading plan: Potential rally towards $1,800 against $1,489 Good luck!     Relevance up to 14:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/291999

Crypto Industry News: Swiss SEBA Bank announced the introduction of the ETH staking service for institutional clients. This will happen exactly when Ethereum's transition to the Proof-of-Stake consensus model is achieved. The bank today published a press release in which it informs that this move is a response to institutional demand. They show interest in such services as cryptocurrency staking and DeFi. The bank's platform to manage staking options will give its users the ability to use a variety of protocols, including Ethereum, Polkadot and Tezos. In the future, the Swiss company intends to launch similar services for additional protocols. Commenting on the growing demand from their customers for this type of service and the upcoming the Merge, director of technology and customer solutions at SEBA Bank, Mathias Schutz said: "The Merge Ethereum is an anticipated and significant milestone for the world's second largest cryptocurrency, providing users with improvements in the areas of security, scalability and sustainability. Launching our Ethereum staking services will enable institutional investors to play a key role in securing the future of the network through a trusted, trusted, secure network. a safe and fully regulated counterparty ". SEBA Bank is a cryptocurrency financial institution that is fully regulated by government institutions. It offers a wide range of solutions, including trade and credit services. By directing its activities towards Ethereum, the bank counts on acquiring new institutional clients who want to help secure the network. Technical Market Outlook: The ETH/USD pair has been seen trading at the level of $1,720, which is abive the 100 DMA already. The next target for bulls is seen at the level of $1.722 (technical resistance), $1,785 and $1,819. The nearest technical support is located at the level of $1,513 and $1,654. The momentum is strong and positive again on the H4 time frame chart, so the short-term outlook for ETH remains bullish. Weekly Pivot Points: WR3 - $1,624 WR2 - $1,598 WR1 - $1,581 Weekly Pivot - $1,572 WS1 - $1,555 WS2 - $1,546 WS3 - $1,520 Trading Outlook: The Ethereum market has been doing the lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade     Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292120

While Bitcoin fell below $19k and was on the verge of falling to the local bottom, Ethereum confidently maintained its bullish positions. After a local recovery impulse of the first cryptocurrency, the main altcoin resumed its upward movement. The asset has reached the upper boundary of the resistance zone and, as of this writing, is trying to gain a foothold above the $1,700 level. In general, the altcoin successfully implements the bullish market momentum ahead of the Merge update. However, should we expect a full-fledged upward movement of the cryptocurrency shortly before the merger? From the fundamental point of view, the answer to this question seems not so obvious. Two days ago, the Bellatrix update took place on the Ethereum network, which became the final chord of preparing the altcoin for the transition to PoS. The upgrade was successful, but investors had some doubts. They were dictated by a significant increase in the number of missed blocks in the ETH network after the Bellatrix update. The indicator increased by 1,700%, and the number of blocks that did not pass the check on the first attempt reached 9%, against the norm of 0.5%. The Ethereum developers said that the problem was related to nodes that did not install new software. It is reported that about 25% of the nodes are using the old collateral, but even a small percentage caused failures in the ETH network. Questions about the decentralization of Ethereum are also gaining momentum, because more than 50% of all ETH nodes are made up of the United States and Germany. Amazon is the end user of more than 50% of Ethereum nodes, and the Geth open source project remains the main enabler for most of the nodes. However, judging by the growing volumes of trading and the increase in addresses, the market is not very worried about the possibility of transactional censorship. The situation with the update of Ethereum remains stable and interest in the main altcoin is growing. Given the fundamental interest of investors in Ethereum, a similar situation should be observed in technical metrics. On the daily chart, Ethereum remains bullish. The price managed to hold the key support level at $1,400. Thanks to this, the "cup and handle" pattern remains relevant and, consequently, the bullish potential of the price movement to $2,700-$2,800. Technical indicators also confirm the bullish market sentiment. The Relative Strength Index crossed the 50 level and continues to move up, which indicates growing buying volumes. The stochastic oscillator is also successfully implementing bullish impulses and is approaching the overbought zone. Given the proximity and fundamental nature of the Merge update, the metric will remain close to this zone until the merge is completed. An important and positive signal for the ether was the fall in the level of Bitcoin dominance to 36%. Subsequently, the metric recovered to 39%. However, this is direct evidence that Ethereum is temporarily at a higher investment preference than Bitcoin. In other words, the main flows of investments, including institutional ones, are directed to the main altcoin. This thesis is also confirmed by colleagues from Chainalysis, who are sure that ETH has taken on the burden of temporary leadership. Experts report that due to the improvement in the technical characteristics of ETH, including staking, altcoin will become even more popular among large players. This thesis is confirmed by the on-chain metric showing the number of addresses with 1000+ ETH. A significant increase in the number of addresses with this amount of ether coins indicates a high level of confidence in the upcoming update. However, it may also indicate investors' plans to take advantage of the staking feature after the merger. For ETH, this is doubly positive news, as profitable staking will allow the asset to avoid a sharp and massive sell-off. However, we should expect a slight drop in the price of Ether after the update due to market conditions. Ethereum on-chain metrics also show positive dynamics. Trading volumes have taken a sharp upward direction, but still do not reach the levels of mid-July, when the altcoin was at its peak of growth. The number of unique addresses in the cryptocurrency network remains high, but practically unchanged. The indicators of the main on-chain metrics indicate the initial stage of the emergence of an upward trend. It is likely that the numbers will continue to rise ahead of the merger and will peak on September 15–16. It is then that we should expect a peak in the growth of ETH/USD quotes. Given the fundamental reasons for growth and investors' faith in a successful upgrade, there is no doubt about the local bullish trend of ether. On the eve of the merger, the asset will consolidate and gradually approach $1,800–$2,000. Given the successful movement in this area a few weeks ago, one can be sure of ETH/USD consolidation above $2,000. The main targets of Ethereum within the bullish movement due to the Merge update are the $2,000-$2,100 and $2,400-$2,500 areas. Most likely, the price is able to go higher and stab higher levels, but the main potential ends in the $2,400-$2,500 area. Ethereum update will have a positive effect on the cryptocurrency and DeFi/NFT market, but given the macroeconomic background, fundamental shifts should not be expected.       Relevance up to 09:00 2022-09-10 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/321260

Jonny Hart looks back on the week’s business and markets news with OANDA Senior Market Analyst Ed Moya in New York.  This week they talk about Queen Elizabeth II’s legacy, the ECB policy decision, the UK energy plan, and Ethereum’s Merge.  They also discuss what the week ahead has in store for financial markets.   This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

If you have ever used the Ethereum blockchain, you must have noticed that most of the tokens used in trading and investing are ERC-20-based tokens. This token standard has become the most used option in decentralized applications (dApps), wallets, and crypto protocols due to its many functions. However, Ethereum blockchain’s native token, Ether (ETH), in a tough position as it doesn’t align with ERC-20 token standards. Regardless, users continue to demand to use Ether in the decentralized finance (DeFi) and crypto space. This is where Wrapped Ethereum (WETH) comes in. Wrapped Ether has become one of the favorites of investors and developers on the Ethereum blockchain as it presents a lasting solution to the use of Ether in the DeFi sector. WETH is pegged to Ethereum’s price and is an ERC-20 token. Users can easily convert Wrapped Ether back into Ether. This article is an in-depth introduction to everything Wrapped Ethereum. Keep reading to find out more! Welcome to our brand-new educational series on Ethereum, which is a consumer awareness initiative to help understand everything about the inner workings of the Ethereum blockchain, Ether token, and much more. What are Wrapped Tokens Before we get into the nitty-gritty of Wrapped Ether, let us start with understanding the wrapped token concept. Wrapped tokens are digital assets that allow for the movement of value from one blockchain to another, a form of blockchain interoperability. The most popular wrapped token is the Wrapped Bitcoin (WBTC), which is pegged 1:1 to the price of Bitcoin (BTC), giving 1 WBTC the same value as 1 BTC. WBTC solves the interoperability limitation of Bitcoin by allowing BTC holders access to other blockchain ecosystems through its ERC-20 or TRC-20 functionality. Wrapped coins have been compared to Stablecoins, and they fit this description in a way. Stablecoins, such as the USDT, track the value of a real-world asset like the dollar, making $1 the same as 1USDT. What makes wrapped tokens fascinating is not the fact that they are pegged 1:1 to the value of another asset. Instead, it is the technology behind these assets, and the way value is backed and preserved. Classification of Wrapped Tokens Broadly speaking, there are two kinds of classes that all wrapped tokens fall into, including cash-settled and redeemable. The former, cash-settled wrapped tokens, cannot be redeemed for the underlying asset after conversion. This makes cash-settled tokens a permanent one-way street kind of token. On the other hand, redeemable wrapped tokens — as the name suggests — can be converted back into the original asset. Meanwhile, blockchains determine the functionality of a token being wrapped, by playing host. For example, wrapped privacy tokens are hosted in the Monero or ZCash blockchains. Usually, the wrapping process is done to tokens with notable utility outside their native blockchains. Here’s a quick look at some of the types of wrapped tokens available on the market: Centralized/Custodial Wrapped Tokens One of the most popular examples of a centralized or custodial wrapped coin is the wrapped Bitcoin (WBTC), an ERC-20 token. The value of this token class is sustained by two parties: a custodian and a merchant. Both parties validate transactions on this wrapped coin class using the Proof-of-Stake (PoS) mechanism and ensure the underlying coin is stored securely. To convert a coin into its wrapped form in this setting, the coin will be delivered to a merchant. This merchant stores the said coin as collateral with a custodian that supplies the desired wrapped coin. Non-Custodial Wrapped Tokens As the name suggests, this wrapped token class does not involve any third-party custodial services. Minting of non-custodial wrapped tokens is handled on a DAO. Hybrid Wrapped Tokens Hybrid tokens operate with both a centralized custodian and a DAO, infusing the best of both custodial and non-custodial wrapped token types. Hybrid tokens affect the most interoperability and flexibility across chains. However, this wrapped token type is relatively unknown and not acceptable or compatible with many DeFi projects and decentralized applications. Wrapped Ethereum (WETH): The Basics Drawing the meaning from wrapped tokens, Wrapped Ether is the tokenized version of Ether and is pegged 1:1 to the price of ETH. Unlike Ether, WETH cannot be used to settle gas fees. Thanks to its ERC-20 functionalities, WETH is suitable for advanced blockchain transactions in the DeFi space. Despite being the progenitor of the ERC-20 token standard, the ETH token was created too early before the advent of the ERC-20 idea, cutting it out of many functions. Creating and Minting Wrapped ETH Creating (minting) Wrapped Ether rests in the hands of the users of Ethereum and is a seamless and quick process. ETH holders simply have to send their tokens to a specific smart contract, which automatically generates WETH and credits it to the user’s wallet. The smart contract serves as a custodian and locks up the ETH, thereby ensuring every single WETH in existence is backed by ETH reserves. To maintain the WETH peg to the value of ETH, all WETH is burned (destroyed) whenever it is exchanged for ETH. An easier method of acquiring Wrapped Ether is to swap another token, Ethereum, or any other tokens in your possession, using coin exchangers. Some popular options for swapping your tokens for WETH include Uniswap or Sushiswap. How are Wrapped ETH (WETH) and Ethereum (ETH) Different? Some traders grapple with understanding the difference between ETH and WETH. Let’s start by understanding what Ethereum is. Today, many crypto projects prefer to create unique native tokens for facilitating transactions on the blockchain. In this sense, Ethereum created Ether (ETH) as the native cryptocurrency for its network. That said, customers interested in facilitating transactions directly on the Ethereum blockchain must use ETH to complete the process. Ether has grown into a massive asset and is used in several settings, such as for payments of goods and services on the Ethereum network, settling gas fees, and speculation. Now that we know what Ethereum is, Wrapped Ethereum is the wrapped version of Ethereum. Think of a candy wrapped in a plastic wrapper; the candy is ETH while the wrapper is WETH. As mentioned at the outset, Ethereum is not an ERC-20 token, limiting its use in the DeFi and crypto world. This is the primary solution WETH offers, as it is an ERC-20-standard token, allowing ETH holders access to previously restricted niches of the market. Wrapping ETH WETH tokens are created by depositing ETH into smart contracts. These smart contracts act as a custodian and lock the deposited ETH in a secure address, which can be exchanged back into WETH on request, given the wrapped tokens are backed 1:1 by the ETH deposited. That said, converting WETH back to ETH essentially destroys or burns the tokens. Wrapping and unwrapping Ethereum comes at a small cost which varies across conversion platforms. Meanwhile, users can choose to swap ETH for WETH through a decentralized exchange (DEX). Users can also swap their tokens for the value equivalent in WETH using Uniswap, OpenSea, and MetaMask. Described below is a step-by-step guide to wrapping ETH through MetaMask: If you don’t already have a MetaMask account, create one and sign into your wallet. Confirm that you have funds available in the wallet. If you don’t, you can buy ETH using your credit or debit card, or you could send ETH from an external wallet. Log on to a decentralized exchange, such as Unswap, and link your funded MetaMask wallet with it. Then, you need to choose the Ethereum mainnet as the preferred platform before clicking swap. Once this is done, a prompt bearing the options of tokens is displayed. Select WETH from the drop-down option in the ‘Swap to’ box. Select the amount of ETH on your MetaMask wallet you want to wrap and select ‘Review Swap.’ After this, a prompt bearing the details of the final transaction is displayed. Confirm that the displayed amount is what was originally chosen and other conversion details. The transaction will not go through if you do not have enough funds. A prompt to add more funds will be displayed. Once confirmation is settled, complete the transaction by clicking the ‘Swap’ icon. The newly-minted WETH will be credited to your MetaMask wallet. Unwrapping ETH Say you want to convert your WETH back to ETH after the transaction you needed the ERC-20 token for is done, all you need to do is unwrap your WETH. Unwrapping a coin is the process of burning the wrapped coin and receiving the original version in your wallet. As for wrapping Ethereum, there are several ways to unwrap WETH, including: The manual process through interaction with a smart contract. Exchanging WETH for ETH on a DEX. Unwrap WETH on MetaMask on OpenSea. In this article, we’ll focus on the third option for unwrapping Ether. The process is as follows: Open the OpenSea website and log into your account. If you don’t have an account, create one and continue with the described process. Locate and click on the wallet icon. Though it varies for some devices, it should be at the top right corner of your screen. A prompt will appear requesting you log in using your wallet. Select MetaMask and proceed. You should already have a MetaMask wallet from wrapping Ethereum. If you don’t, create one and proceed. Sign into your wallet using your password. After that, you should see your fund details displayed on the screen. If you have insufficient funds, deposit more WETH and proceed. Click on the ‘option’ icon (usually represented by three bold dots) that appears under your WETH details. Select ‘Unwrap.’ Another prompt with the transaction details would be displayed on your screen at this point. Carefully examine the details of the transaction and ensure everything is correct. Click on ‘Unwrap.’ Once this is done, click on ‘Confirm’ to transfer the original token (ETH) to your wallet. You should be credited shortly after this. This is the best and fast and best way to unwrap and wrap ETH. Pros and Cons of Wrapped ETH (WETH) DeFi Activity Enhancement The Ethereum network is the broadest DeFi ecosystem on the block today, with the most compatibility. Unlike Bitcoin, Ethereum’s functionality is not limited to registering and validating transactions on the blockchain. WETH further improves Ethereum’s unparalleled functionality and reach by increasing its usability, leading to more advancements and innovations in the decentralized finance ecosystem. Interoperability Wrapped Ether delivers interoperability with standardized coins, allowing for the seamless flow of resources between blockchains innovatively. This inevitably improves blockchain processes and reduces the margin for errors substantially, creating room for more innovation and improvements in Ethereum’s DeFi ecosystem. Elimination of Third Parties Another critical benefit WETH renders is that it allows for decentralized transactions without the need for any third-party facilitator or mediator. Transaction Efficiency It needs no mention that wrapped coins like WETH allow transactions to be facilitated more efficiently, thanks to the immense compatibility and interoperability they have. Risks Associated with Wrapped ETH Custodial Risks As mentioned earlier, smart contracts — that serve as custodians — are needed for the process of wrapping or unwrapping Ether. That said, issues arising from the underlying WETH smart contract in a transaction could put users’ funds at risk. A smart contract is only as good as its host blockchain, making it advisable to always use more reliable exchanger platforms. Centralization Risks The primary function of the DeFi space is in its name: decentralization. The reliance on platforms to hold, mint, and burn tokens brings about some form of centralization, which defeats the whole purpose of decentralization. For example, say $2 billion worth of WETH is domiciled in a centralized entity or smart contract provider. This gives the custodian in question some degree of control over these funds. Associated Transaction Fees The wrapping and unwrapping process of Ethereum is not free; there are transaction fees associated with it. It requires gas fees, which could be exorbitant sometimes. Transaction fees and slippages from frequent wrapping and unwrapping processes can snowball into large sums and eat at funds. Will WETH Always Remain Pegged To Ether? Short answer: yes. It has to. As mentioned earlier, wrapped Ether works similarly to a Stablecoin, as it has to remain as close as possible to the price of the original asset, or else it all falls apart. This is the reason for the minting and burning of WETH on every transaction; to make sure demand and supply are tamed. In a scenario where WETH loses its peg, even if only slightly, and becomes cheaper than ETH, investors will immediately capitalize on the arbitrage opportunity and purchase more WETH and sell for ETH to make a quick profit. This would trigger a massive demand for WETH, which would, in turn, boost the price of the instrument, returning it to the peg. The same is true when the price of WETH becomes higher than Ether, with investors purchasing Ether and converting it to WETH coins for profits, lowering the price of WETH. This primary demand and supply principle is the sustaining factor in ensuring a relatively stable peg between these assets. Final Thoughts WETH brings so much utility and efficiency to the Ethereum network users. Because of its ERC-20 quality, WETH can essentially be used across most blockchains, a feature lacking in Ethereum. As discussed in the article, switching between ETH and WETH is a straightforward process that requires no technical knowledge or skills. Also, both wrapping and unwrapping processes adhere to the 1:1 rule, meaning you will always get the number of tokens desired outside transaction costs. With Ethereum — the largest DeFi and smart contract ecosystem — constantly reinventing itself, more use cases for WETH in staking, NFT auction bidding, providing liquidity, yield farming, and crypto lending will continue to emerge.

Crypto Industry News: Ethereum is struggling with its impending merger. This time the problem is with miners. Among them is a group that believes that switching to Proof-of-Stake may prove to be a threat to them. Chandler Guo, who spearheads efforts to maintain the current Proof-of-Work mechanism, believes that after the transformation, miners will be "broke" because the "multi-billion dollar" industry will disappear overnight. Despite this, the Ethereum Foundation remains optimistic about the upcoming changes. According to her, such a move will reduce blockchain energy consumption by 99.95%. This would be a step that could make this technology more environmentally conscious for companies. But Guo said the miners, who are "the community's largest stakeholder," are being pushed out of the business. He further stated that he knows that critics like him outnumbered major crypto companies including OpenSea, Tether, and Circle that back The Merge. Justin Sun, founder of the Tron ecosystem, also believes that Ethereum should remain in the PoW model. In a media podcast, he stated that the ETH was heading into uncharted territory. It could therefore turn out to be a catastrophic event given what happened to the "foundation of the crypto industry." However, Sun believes the transition to merge will work fine: "We can be 99% sure it will be a good start". Technical Market Outlook: The ETH/USD pair has been seen trading at the level of $1,785, which is above the 100% Fibonacci projection located at $1,753. The rally had ended with a Pin Bar candlestick pattern on the H4 time frame chart, so a pull-back towards the technical support seen at the level of $1,722 was done. The momentum is coming off the extremely overbought conditions, but is still strong and positive, so the outlook remains bullish for ETH on the short-term time frames. The next target for bulls is located at the level of $1,819 and $1,825. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 09:00 2022-09-13 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292309

Summary:  Ukrainian success in taking back significant territory from Russia over the weekend has driven a cautious further recovery in the euro and sterling at the open of trade this week. Elsewhere, yields have jumped higher, helping drive new yen weakness and taming risk sentiment as the US 10-year treasury benchmark trades near the cycle highs since June. Focus this week is on tomorrow's US August CPI release, the most important data point ahead of next week’s FOMC meeting.   What is our trading focus? Nasdaq 100 (USNAS100.I) and S&P 500 (US500.I) US equities Friday on a strong note up 1.5% and S&P 500 futures have extended their gains overnight touching the 4,100 level because before receding to around the 4,085 level in early European trading hours. The US 10-year yield continues to move higher trading at 3.34% and if it sets a new high for the recent cycle it will probably cause headwinds for US equities so watch the US bond market. Next big macro event is tomorrow’s US August CPI report which is expected to print –0.1% m/m suggesting inflation is beginning to cool. Hong Kong’s Hang Seng (HSIU2) and China’s CSI300 (03188:xhkg) Hong Kong, Shanghai, and Shenzhen are closed today for the mid-autumn festival holiday. Last Friday, Hang Seng Index soared 2.7%, snapping a six-day losing streak following China’s August inflation data surprising to the downside and raising hope for more monetary easing to come from the Chinese policymakers. Chinese property names rallied on market chatters about unconfirmed stimulus measures from policymakers to boost the ailing property sector. Ahead of the mid-autumn festival, catering stocks gained. CSI 300 climbed 1.4%, led by property, dental services, infrastructure, and digital currency.  Northbound inflows into A-shares reached USD2.1billion equivalent last Friday, the largest inflow in a single day since the beginning of the year. Ukrainian success on the battlefield drives EUR and GBP strength The surprise offensive and the re-capture of a key transport hub in the northeastern sector of the front after recent focus on operations in the south caught the market by surprise and has seen the euro and sterling rebounding versus the US dollar in early trading this week, with EURUSD trading to new local highs well clear of 1.0100 briefly overnight before edging back lower. Likewise, GBPUSD pulled north of 1.1650 before treading water back toward 1.1600. It will take some time and further developments to assess whether Ukraine can capitalize on its gains and this in turn triggers a new stance from Russia on its energy policy. JPY crosses back higher as yields rise The USDJPY correction on Friday inspired by somewhat stern language from Bank of Japan Governor Kuroda has mostly faded, as USDJPY bobs back above 143.00 overnight on US treasury yields challenging cycle highs. EURJPY pulled back close to the cycle high well above 144.00 overnight on hopes that the war in Ukraine is turning in the Ukrainians favour. New highs in USDJPY may bring more two-way volatility again if Japanese officialdom backs up its concern on the situation with market intervention (buying JPY). Crude oil (CLV2 & LCOX2) Crude oil starts the week in defensive mode with the focus staying with demand concerns amid continued lockdowns in China hurting demand from the world's top importer and a rapid succession of interest rates from major central banks negatively impacting the global economic outlook. Into the mix a US-backed plan to cap prices on Russian oil sales from December 5, a stranded Iran nuclear deal, strong demand for fuel products such as diesel at the expense of punitively high gas prices and a softer dollar. In addition, the collapse of Russian defenses in Ukraine and the response from Moscow will be watched closely. Monthly oil market reports from OPEC tomorrow and IEA on Wednesday should provide some further guidance on the supply/demand outlook. Brent’s current range: $92.75 and $87.25 US Treasuries (TLT, IEF) The 10-year US Treasury benchmark edged higher toward the local range high north of 3.3% overnight, with only the June peak at 3.50% remaining as the focus to the upside (this was the highest yield for the cycle since early 2011 and the run higher in yields in June coincided with the major low of the equity bear market this year. Tomorrow’s US August CPI number is the next key test for sentiment and yield direction, while the US Treasury will also auction both 3-year and 10-year treasury notes today and will auction 30-year t-bonds tomorrow. What is going on? France’s manufacturing production contracted in July According to the latest estimate released by the French Institute of National Statistics (INSEE), the manufacturing production decreased by a stunning 1.6 % month-over-month in July. It remains in expansion on a yearly basis (+0.2 %). Without much surprise, the drop is mostly explained by higher prices, especially higher energy prices. The INSEE does not forecast a recession in France this year. Nonetheless, growth is likely to decelerate very sharply in the coming quarters. The institute forecasts that growth will be around 0.2 % in Q3 and will be stagnant in Q4 2022. India’s rice export ban risk aggravating global food crisis After a ban on wheat exports earlier this year, India has now announced restrictions on rice exports, aggravating concerns of a global food crisis. Bloomberg reported India imposed a 20% duty on white and brown rice exports and banned shipments of broke rice. The new curbs apply to about 60% of India's rice exports and go into effect Friday. India’s rice output has been depressed due to the severe heatwaves, but also possibly to cap domestic price pressures. If these measures are duplicated by other key rice exporting countries like Thailand and Vietnam, there could potentially be a severe grain shortage globally, especially weighing on poor rice importing nations. We continue to see a threat of climate change to global agricultural output, which along with a prolonged energy crisis, suggested price pressure will stay in the medium-to-long term despite some cooling off from the recent highs. European carbon price drops as EU considers sale of permits from reserves The December ECX emissions contract (EMISSIONSDEC22) has fallen by around one-third since hitting a record high last month above €99 per tons. Given the current energy crisis, EU energy ministers are moving towards a deal to sell surplus permits from its Market Stability Reserve (MSR) in order to support a reduction in the cost of producing power and heating within the region. Power producers need to buy carbon permits to offset the polluting impact of using coal and gas over renewables. Occidental Petroleum shares rise on Berkshire accumulation In a filing on Friday, Berkshire Hathaway announced that it has lifted its stake to 26.8% in Occidental Petroleum. The move comes after the investment firm got regulatory approval for increasing the stake to over 50%. Berkshire’s move in Occidental Petroleum shares is seen as a move of confidence in the oil and gas industry as a much-needed industry for bridging the gap during the green transformation. Semiconductors are in focus as the US is expected to announce more curbs on exports The US Commerce Department is expected to publish new regulations curbing exports of semiconductors to China with companies such as KLA, Lam Research, and Applied Materials likely being impacted by the upcoming regulation. The move by the US further confirms the deglobalisation under the rule of self-reliance applied by increasingly more countries. China’s medium to long-term corporate loans picked up in growth  Over the past months, Chinese policymakers instructed policy banks and gave window guidance to commercial banks to extend credits to support infrastructure construction and key industries of the economy. Some results showed up in the August loan data which recorded a growth of 16% m/m annualized in the outstanding medium to long-term loans to the corporate sector. The amount of new medium to long-term loans to corporate was RMB 735bn in August versus RMB 346bn in July and RMB 522bn in August 2021. Loans to households remained sluggish. PBoC issues a list of 19 systemically important banks The People’s Bank of China and the China Banking and Insurance Regulatory Commission issued a list of 19 systematically important banks.  These 19 banks will face between 0.25% and 1% higher minimum capital requirements and additional leverage requirements. They are also asked to prepare contingency plans for major risk events. These 19 banks are Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, China Minsheng Bank, China Everbright Bank, Ping An Bank, Hua Xia Bank, Ningbo Bank, China Guangfa Bank, Jiangsu Bank, Bank of Shanghai, Bank of Beijing; China CITIC Bank, China Postal Savings Bank, Shanghai Pudong Development Bank, Bank of Communications, China Merchants Bank, and Industrial Bank. The CPC is set to amend the party constitution at its upcoming national congress The Political Bureau of CPC Central Committee said in a readout last Friday that the Communist Party of China (CPC) is set to “work out an amendment to the Party Constitution that facilitates the innovative development of Party theories and practices and meets the need of advancing the great new project of Party building in the new era” at the CCP’s national congress to convene starting on October 16.  It further elaborates that “the latest adaption of Marxism to China's context and new circumstances will be fully epitomized and so will the new ideas, new thinking and new strategies of governance developed by the CPC Central Committee since the Party's 19th National Congress in 2017. What are we watching next? The Bank of England (BoE) will need to go big on 22 September The meeting initially scheduled for this week is postponed following the Queen Elizabeth II. Last week, both the Bank of Canada and the European Central Bank hiked their benchmark interest rate by 75 basis points. All eyes are turning to the BoE now. Pressure is mounting for the BoE to go big this week – meaning a 75-basis points hike. In August, the central bank hiked rates by 50 basis points to 1.75 %. Despite prime minister Liz Truss’s new anti-inflation plan (which will likely lower the peak in inflation), we think the BoE will need to show its commitment to fight inflation. The Bank forecasts that UK CPI will increase to 13.3 % year-over-year in Q4 2022. But the peak in inflation is only expected in 2023. This means that the cost of living will continue increasing in the short term, anyhow. Fed speakers stay hawkish before the blackout period begins and ahead of US CPI release tomorrow Fed rate hike expectations have picked up strongly since Jackson Hole, and we have heard an extremely unanimous voice from the Fed speakers since then. Some of them have clearly made the case for a 75bps rate hike in September, with Bullard on Friday even saying that Tuesday’s CPI report is unlikely to alter the incoming 75bps rate hike in September. Governor Waller leaned hawkish as well, but did not specify the size for September’s decision, but a “significant” hike still points to that. Esther George stayed away from guiding for individual meetings but made the case for sustained rate hikes. Ethereum merge The second-largest cryptocurrency, Ethereum, is scheduled to undergo a major upgrade this week (estimated on Thursday) which, if successful, will fundamentally change the way the cryptocurrency is working. It will go from the computationally intensive proof-of-work consensus to the more energy-friendly proof-of-stake, as well as introducing a mechanism to limit the inflation in Ethereum. The crypto community is looking very much forward to this upgrade, although some are concerned about the security in the new framework. Earnings to watch Today’s key earnings release is Oracle which a better-than-expected earnings result on 13 June surprising the market on EPS by 12% as the legacy database and software maker is gaining momentum in its cloud offering. Analysts expect FY23 Q3 (ending 31 August) revenue growth to accelerate to 18% y/y, which includes its recent acquisition of Cerner in the health care sector, which is impressive for the previously low growth company despite some of the growth being driven by acquisitions. If the outlook remains strong a longer-term repricing of the company’s valuation could be in the making. Today: Oracle Tuesday: DiDi Global Wednesday: Inditex Thursday: Polestar Automotive, Adobe Economic calendar highlights for today (times GMT) 0730 – ECB's Guindos to speak 0800 – Switzerland Weekly SNB Sight Deposits 1200 – ECB’s Schnabel to speak 1530 – US 3-year Treasury auction 1700 – US 10-year Treasury auction 2100 – New Zealand Aug. REINZ House Sales 0030 – Australia Sep. Westpac Consumer Confidence 0130 – Australia Aug. NAB Business Conditions/Confidence Follow SaxoStrats on the daily Saxo Markets Call on your favorite podcast app: Apple  Spotify PodBean engraver Source: https://www.home.saxo/content/articles/macro/market-quick-take-sep-12-2022-12092022

Crypto Industry News: Norway's Central Bank has reached a milestone in its digital currency effort by releasing open source code for the Central Bank's Digital Currency Sandbox (CBDC). The sandbox available on GitHub is designed to offer an interface for interacting with the test network, enabling functions such as knocking out, burning and transferring ERC-20 tokens, according to the official partner of Norges Bank at CBDC, Nahma. Nahmii emphasized that the current version of the code does not support the main Ethereum MetaMask wallet and is only available privately to users with appropriate credentials. In addition to implementing appropriate smart contracts and access controls, Norges Bank's sandbox includes custom frontend and network monitoring tools such as BlockScout and Grafana. Nahmii noticed that the interface also shows a filterable summary of transactions on the web. Norges Bank announced on Twitter that the prototype CBDC infrastructure in Norway is based on Ethereum technology. The central bank referred to Ethereum in a blog post on CBDC back in May. Norges Bank said the Ethereum cryptocurrency system is expected to provide a "core infrastructure" for issuing, distributing and destroying central bank digital money, also known as DSPs. Technical Market Outlook: The ETH/USD pair has been seen pulling back from the 100% Fibonacci projection located at $1,753. The rally had ended with a Pin Bar candlestick pattern on the H4 time frame chart, so a pull-back towards the technical support seen at the level of $1,685 was done. The momentum is coming off the extremely overbought conditions to the level of fifty, so the outlook remains bullish for ETH on the short-term time frames. The next target for bulls is located at the level of $1,819 and $1,825. Weekly Pivot Points: WR3 - $1,875 WR2 - $1,807 WR1 - $1,765 Weekly Pivot - $1,738 WS1 - $1,697 WS2 - $1,670 WS3 - $1,601 Trading Outlook: The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. If the down move will extend, then the next target for bears is located at the level of $1,358. The key technical support for bulls is seen at $1,281.9 Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade       Relevance up to 08:00 2022-09-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292498

Technical outlook: Ethereum pushed through the $1,790 highs over the weekend, rallying over 350 points from its recent swing low at around $1,423. The crypto might have completed a corrective rally and hit resistance just below $1,800. Also, note that the Fibonacci 0.618 retracement of the bearish drop is seen around $1,805, hence the token will face strong resistance if prices manage to reach there. Ethereum had earlier dropped from the $2,031 highs through the $1,423 lows, carving a meaningful downswing as seen on the 4H chart here. A pullback rally was expected thereafter, which could potentially reach up to $1,750 and the $1,800-10 area before prices turned lower again. The bulls have managed to produce a corrective wave and push prices up to about $1,800. The Ethereum bears might be keen to come back in control from here or after hitting $1,800-10 in the near term. Also, note that prices have tested the Elliott Channel resistance line from just below $1,800 and turned lower. The crypto is trading close to the resistance zone. A drag lower from here remains a high probability. Trading plan: Potential drop from the $1,750-1,800 zone against $2,050 Good luck! Earn on cryptocurrency rate changes with InstaForex Download MetaTrader 4 and open your first trade Relevance up to 13:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. Read more: https://www.instaforex.eu/forex_analysis/292573

Crypto Industry News: In an online interview, a security expert requesting anonymity explained that, unlike Proof-of-Work (PoW) based systems, systems based on Proof-of-Stake (PoS) inform the node validators in advance which blocks they will check, thus enabling them to plan attacks. The cybersecurity expert quoted by the portal is a blockchain developer working on a second layer PoS blockchain. The researcher explained that an exploit could theoretically be more easily exploited in the post-merge chain on the Ethereum network (any unethical or illegal attack that exploits vulnerabilities in an application, network or hardware. Typically an attack is carried out using software or code trying to take control of the system or steal data stored in the network): "If you control two consecutive blocks, you can run an exploit on block N and end it on block N + 1. (...). From an economic security point of view [this vulnerability] makes these attacks relatively easier to carry out." - he said. The expert said that while miners could also check two more blocks on PoW networks, it comes down to "pure luck" and does not give them time to plan an attack. Howe