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By Cryptowarrior · Posted
Bitcoin crossed the $65,000 mark on September 26, 2024, as positive market sentiment followed the latest U.S. jobs data. Investors were quick to react to the favorable economic indicators, driving BTC prices higher. Let's break down the key factors that fueled this bullish movement. U.S. Job Market Shows Strength The U.S. Bureau of Labor Statistics released new data showing a drop in weekly jobless claims. Initial unemployment claims fell by 4,000 to a seasonally adjusted 218,000. This indicates a strong and resilient labor market, a positive sign for the broader economy. Additionally, the second-quarter GDP growth for 2024 was revised up to 3.0%. This uptick in economic growth suggests that the Federal Reserve could consider further interest rate cuts, which could weaken the U.S. dollar and make assets like Bitcoin more attractive to investors. Bitcoin Miners Boost Reserves Another key trend in the market is the activity of Bitcoin miners. Over the last five days, miners have added 774 BTC to their reserves, totaling approximately $50.6 million. This move reflects growing confidence in Bitcoin’s future price trajectory, as miners tend to accumulate BTC during bullish market conditions. Price Gains and Outlook Bitcoin's price surged by 10% after the release of the U.S. jobless claims data on September 26 as per Coinpedia Markets data. By mid-day, BTC was trading above $65,000, reaching a new monthly peak of $65,166. This is the first time Bitcoin has traded at this level in over 55 days, breaking key resistance and setting the stage for further gains. Market analysts are now eyeing the $70,000 mark as the next potential target, driven by favorable macroeconomic conditions and positive on-chain data. With a strong U.S. labor market, a potential Fed rate cut, and bullish miner activity, Bitcoin seems poised for further growth. Will it hit $70,000 soon? Stay tuned for more insights and predictions by checking out the detailed Bitcoin Price Prediction article. -
By tradinglounge · Posted
MCD Elliott Wave Analysis Trading Lounge Daily Chart, McDonald’s Corp., (MCD) Daily Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave 1 DIRECTION: Completion in wave 1 DETAILS: Looking for MG1 of 300$ as upside target where we could potentially we a top in wave 1. MCD Elliott Wave Analysis Trading Lounge 1H Chart, McDonald’s Corp., (MCD) 1H Chart MCD Elliott Wave Technical Analysis FUNCTION: Trend MODE: Impulsive STRUCTURE: Motive POSITION: Wave {v} of 1. DIRECTION: Looking upside within {v}. DETAILS: Looking for a bit of a different approach than what is present din the daily chart. Looking for upside within wave (v) of {v} to be unfolding. In this Elliott Wave analysis for McDonald’s Corp. (MCD), we will examine the trend structure across both the daily and 1-hour charts to assess the current wave progression and potential price targets. * MCD Elliott Wave Technical Analysis – Daily Chart* On the daily chart, McDonald’s is progressing through Wave 1 of a new impulsive move. The focus is on the completion of this wave, with Minor Group 1 (MG1) at $300 serving as the primary upside target. This level could potentially mark the top of Wave 1 as we approach a significant psychological and technical resistance level. Traders should watch for any signs of exhaustion as the price nears $300, indicating a potential corrective phase could begin once Wave 1 tops out. * MCD Elliott Wave Technical Analysis – 1H Chart* On the 1-hour chart, McDonald’s is progressing within Wave {v} of 1, and the current wave structure suggests we are unfolding in the final leg—Wave (v) of {v}. This differs slightly from the daily chart but complements the broader trend, indicating that further upside is still expected before Wave 1 completes. The shorter-term view supports an ongoing bullish move, with price pushing toward the $300 target. Once Wave (v)completes, traders should anticipate the possibility of a correction, marking the end of Wave 1. Technical Analyst : Alessio Barretta Source : Tradinglounge.com get trial here! -
By CryptoChamp · Posted
Floki Inu (FLOKI) has jumped 15% recently, driven by its strong community and expanding utilities. Known initially as a memecoin, it’s now gaining traction with projects like the Valhalla NFT metaverse and FlokiFi. However, its growth still largely depends on community participation. Signs of Growing Investor Confidence Decline in Liquidations: Over the last three weeks, long position liquidations have fallen sharply from $356.8k to $11.9k. This indicates increased confidence from investors holding onto their FLOKI. Positive Funding Rate: The positive OI-Weighted Funding Rate shows more investors are willing to pay a premium to hold long positions, signaling strong market confidence. Investor Behavior Points to Strong Holding Reduced Exchange Inflow: Exchange inflows have dropped from 4.63 billion tokens to just 7.06 million, suggesting investors are moving FLOKI to private wallets, expecting further price increases. Floki Price Prediction: What’s Next? Floki Price Prediction: FLOKI is currently trading at $0.001494, with a market cap of $1.43 billion. Analysts predict it could soon break the $0.0012 resistance level. Bullish Momentum: A possible golden crossover between the 50 and 200-day EMAs could boost FLOKI’s price, potentially leading to a breakout above the $0.0010 mark. The floki price prediction is looking promising for a continued bull run
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