THELOGICALINDIAN - Hi Everyone
One of the alluring things about bitcoin is that alike admitting the arrangement is abundantly accessible source, data analytics are not consistently consistent. This makes for some absorbing metrics and anomalies for crypto-analysts like myself to appraise on.
For example, abstracts on the blockchain is cold and adequately constant but things like volumes on exchanges and trading abstracts will apparently be altered depending on area you look.
At the moment, several sites accept published headlines that…
In fact, I acquisition these headlines misleading because they are all apropos to abstracts from a distinct barter and absolutely not from the absolute market.
Our data, actuality at eToro shows an absolutely altered story. In this graph, provided by one of our top abstracts scientists, we can see an basis that displays the akin of banker shorts on the belvedere back the alpha of 2024.
As you can acutely see, shorts are up from aftermost ages but are still not alike abutting to the accomplished levels.
@MatiGreenspan – eToro, Senior Market Analyst
Please note: All data, abstracts & graphs are accurate as of August 24th. All trading carries risk. Only accident basic you can allow to lose.
So this is a appropriate one…
Donald Trump has managed to accomplish things alike added absorbing by alms to advice Italy by affairs their bonds. Apparently, the aloft action came at his affair with Italian prime abbot Giuseppe Conte aftermost ages but I’m accepting agitation award any capacity added to this contempo article and a abrupt acknowledgment on Bloomberg television this morning.
With the cutting protectionist attitude from the US President, it’s absolutely hasty to apprehend him alms to accommodate an American duke to a European debt issue. However, as with abounding things Donald Trump does, we can alone appraise what the motivations ability be.
Here’s a blueprint of the Euro/Dollar to see area we’re holding. The Euro has been falling back backward April. Some abstruse chartists ability see the absolute ages of August as a gigantic about-face arch and shoulders.
Remember, watch out for updates from the Jackson Hole Symposium that we discussed yesterday.
Though the trends of bitcoin and added agenda assets consistently assume to me to be somewhat fundamental, there accept been actual specific cases afresh that appearance that short-term movements and amount credibility can be acquired anon from the charts.
One that I’ve alone been accretion afresh is the 200-day moving average. A favourite of abstruse chartists in the accounts apple that has afresh proven significant for bitcoin.
Today, I’d like to get a bit added technical. Now, those of you who are accustomed with my assay apperceive that I usually stick to the simple abutment and attrition lines, and sometimes aroma things up with a affective boilerplate or an RSI.
However, we are now seeing signs that the MACD indicator may, in fact, authority some clues as to what ability appear next.
In this graph, we can see the MACD band in white and the ‘signal line’ in red. The approach goes back the MACD break aloft the arresting line, it could be advised a bullish signal.
For your convenience, I’ve accent 5 specific times that this happened afresh and was absolutely followed by a cogent advancement movement. Of course, it has accustomed a few apocryphal signals as able-bodied as you can apparently spot.
Take a attending at the aftermost few days. It seems like the white band is absolutely ascent aloft the red.
Many acknowledgment to Paddy Baker from Crypto Briefing for bringing this to my absorption on the chat. Here’s a link to his column about it as well. And of course, abounding acknowledgment to you for account and for anybody sending me your amazing feedbacks and insights.
Have an amazing weekend ahead!
This agreeable is provided for advice and educational purposes alone and should not be advised to be advance advice or recommendation.
The angle presented is a claimed assessment of the analyst and does not represent an official position of eToro.
Past achievement is not an adumbration of approaching results. All trading involves risk; alone accident basic you are able to lose.
Cryptocurrencies can broadly alter in prices and are not adapted for all investors. Trading cryptocurrencies is not supervised by any EU authoritative framework.
Connect with Mati on….
eToro: http://etoro.tw/Mati | Twitter: https://twitter.com/matigreenspan | LinkedIn: https://www.linkedin.com/in/matisyahu/ | Telegram: https://t.me/MatiGreenspan | Office Phone: 44-203-1500308 (ext:311)
