Good morning, crypto enthusiasts! Today, the fear and greed index remains in extreme greed at 78, while the stochastic RSI has dropped to the oversold area at 9. In the previous market update, I mentioned the potential for BTC to visit the 93K area. This morning, it dropped to around the 94K price range, which leads me to consider the 93K area invalid. So, where is BTC heading next? Based on today’s price action, there’s a big probability for a retest of the 100K area. Following this, I see two possible scenarios considering the current extreme greed zone: A pump to 105K–109K. A dump to the 90K–85K area. Stay safe, avoid FOMO, and always manage your risk. That’s all for today’s crypto update. Akki signing off, one chart at a time. Have a nice day and stay SAFU!
Oil prices rebounded as Chinese authorities demonstrated their strong will to stimulate the economy. Chinese authorities announced that they will continue to respond to the economy with a more active fiscal policy, focusing on expanding domestic demand and stimulating consumption. Meanwhile, Aramco announced it would cut its OSP for Asian refineries to 90 cents lower per barrel. This is the lowest since Jan 2021, when global demand was weak due to the pandemic. USOIL briefly broke below the support at 67.60 but rebounded, compensating some of the decline. However, the price stays within the downward channel, maintaining bearish momentum. If USOIL breaks below 67.60 again and the channel’s lower bound, the price may fall further to 64.80. Conversely, if USOIL breaches above EMA78 and the channel’s upper bound, the price could gain upward momentum toward the 70.00 threshold.
As you can see here, Bitcoin crashed or corrected over 70% during that time frame, albeit it recovered, these types of crashes shake out those who are not real investors. Albeit has since recovered and roared higher to new all time highs (over $100,000) its wise to make sure you're in it for the long haul.
Gbpjpy forming bearish setup from top of channel it's a third test from the top GJ will long term on bullish but short forming a bearish setup.
I like that the price it has pulled back to coincides with the previous high in Jan, '22, which became resistance in Dec '23, and that the 0.50 Fibo retracement is in the same area. It needs to hold and find support here. If so, the next leg up should be ~75-100%?
A view of ES today with Daytrader Pivots and how it worked through the day with updated levels for tomorrow.
Just a quick shot of how MNQ worked its way down to Navigators and Daytraders targets today with an updated Daytrader levels for tomorrow
Idea shown above. Looks good to possibly go long. Above key support holding above the 1 year moving average
Bias: Bullish USD News: -None Analysis: -Bullish structure with strong bullish closure -Waiting for retest of previous structure high -Looking for BUY if there's confirmation on lower timeframe -Pivot point: 2630 Disclaimer: This analysis is from a personal point of view, always conduct on your own research before making any trading decisions as the analysis do not guarantee complete accuracy
You ever wonder if an animal in the zoo is lucky it was taken...it may of been bullied by the others and now its like- influencer famous...