Bitcoin/U.S. dollar(BTCUSD) Elliott Wave Technical Analysis 25 October 23
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10/06/21 10:53
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By XTRAVAGANZA · Posted
Going by what i see on the weekly TF, BTC is heading to $46-48k major price zone level. If it breaks and holds above this zone, then $51-52k is the next minor zone, since its a minor zone, BTC might rally at this zone before deciding to go all the way up or coming back down. Though, I am still mindful of the bearish flag pattern, so there is tendency that BTC could start dumping from any of this zones yah. Lets see how it plays out yah. -
By XTRAVAGANZA · Posted
Interesting update. I also withdrew my funds from Binance and deposited it on Bitget and Bybit exchange just to be safe. Though, personally, I believe Binance will bounce back from this set back. It is no news that both CZ and Binance has contributed immense to the growth of the crypto space and continues to do so.. More so, their case is a different from FTX as you clearly stated. I am optimistic Binance is going no where, not any time soon yah. -
Gold price hits new peak, and silver price makes headway, but Brent crude oil falls again Precious metals are on the up once more following Jerome Powell’s speech on Friday, but the fallout from the OPEC meeting continues to weigh on oil prices. Source:Bloomberg Chris Beauchamp | Chief Market Analyst, London | Publication date: Monday 04 December 2023 13:08 Gold surges to new peak Gold prices shot to a new record high overnight, continuing the surge from Friday’s session. Chairman Jerome Powell’s speech on Friday left markets continuing to expect that no more Fed rate hikes are on their way. This sent gold flying and pushed the dollar lower. The move puts the price firmly above the highs seen in 2022 and 2023, but the price does look overextended in the short-term. Some consolidation around current levels, or even a short-term drop back towards $2050 might not be entirely surprising. Source: ProRealTime Brent falls further OPEC’s decision to go for voluntary cuts to production last week failed to support oil prices, and now the next move appears to be a test of the November low. The past month has seen the price try and fail to hold above the 200-day SMA, and now the November low around $77.30 comes into view. Below this would see the price head back in the direction of the late Spring/early Summer lows around $72. Buyers will need a close back above $80 to suggest another attempt to challenge the 200-day SMA could develop. Source: ProRealTime Silver hits six-month plus high Silver’s move on Friday was not quite as exuberant as gold’s, but it still managed to hit its highest level in over six months. The rally of the past three weeks has barely halted. From a higher low in early November, when the price lagged behind its more expensive cousin, silver then surged through the 50- and 200-day SMAs. It has now cleared the August and July highs, and now the May peak around $26.20 comes into view. A move back below $25 would be needed to signal that some short-term consolidation had begun. Source: ProRealTime
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