After bouncing off the bottom support, Bitcoin seems to have regained short-term bullish momentum. In this analysis I want to discuss the potential H&S pattern that BTC is forming in the near term. My longer-term view is still bearish, but that doesn't mean we can't get a bounce here and there.
In my eyes, there is a potential for BTC to move further up. The odds are against the bulls at this point, but there's still a chance that this pattern will play out.
The 30k-31k area is going to be key. Not only because of the number, but also because it's the April'23 high. Would be a perfect bearish entry.
Bitcoin - Pump to 31k soon! (Diamond pattern)
#BTC#ETH#BTCUSDT
Bitcoin crashed to 25k recently, but a huge pump followed immediately after a false breakout of the head and shoulders pattern. Bitcoin was heading down to continue in the downtrend to 21k, but a huge buyer suddenly appeared and sent bitcoin to the upside. Is this a strong reversal pattern? I think so!
It looks like Bitcoin is refusing to go lower, which is great news and that's why we need to react to the recent price action and open a long position on futures or buy Bitcoin!
It's always extremely important to do an analysis with the Elliott Wave theory to predict future prices. In Bitcoin's case, we have a triple three (WXYXZ) corrective pattern, which you can see on the chart. It's a sign of strength, and this should send Bitcoin to 31K later this year!
The diamond pattern looks really interesting; as you can see, the right shoulder and left shoulder are made of parallel channels. The right shoulder is not formed yet, but we will get there.
I have to be bullish on Bitcoin as the bulls stepped in, and to make more money, we want to speculate on the price increase until January.
I believe October, November, and December will be extremely bullish for the price of Bitcoin!
Is this the bottom of Bitcoin? And will Bitcoin continue to rise to 40k and therefore to a new all-time high? This question will be revealed in my next analysis, so make sure you subscribe / follow!
This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
DeFi tokens: Finance 2.0 Like the Swiss Army Knife of crypto, Decentralised Finance (DeFi) apps strip away the middlehuman from financial transactions, using a combination of smart contracts and code to do all sorts of crazy stuff over the blockchain. DeFi tokens are linked to DeFi protocols, which in some cases are governed by their user base. Now, DeFi is a pretty broad term (lots of tokens dabble in DeFi), so this list is compiled of tokens developed primarily as an asset to be used within an associated DeFi-based blockchain. We've also narrowed it down to tokens with established market capitalizations of $500m, including those oscillating around that watermark – 'cos we all know how quickly prices can change in crypto. It's worth noting the list does not include tokens belonging to blockchains that just support DeFi apps, nor does it include DeFi stablecoins. As always, research as fully as you can before yolo-ing into anything.#BTC #eth #encrypted
Assessing Apple's Future: Growth, Cash Flow, and Valuation
Introduction
Apple Inc. stands as one of the world's premier businesses, offering investors a remarkable journey over the years. Its stock has outperformed the Nasdaq Composite index with a 46% gain in the past three years, despite its market capitalization remaining below the coveted $3 trillion threshold. As investors look ahead, they grapple with questions about Apple's future prospects. With Apple shares currently trading around $178, it's natural to ponder their potential value three years from now. To answer this, several significant trends must be taken into account.
Robust Revenue Growth
Apple's remarkable performance in the trailing 12 months, with revenue reaching a staggering $384 billion, highlights the company's enormous scale. However, it's essential to recognize that as a company of this magnitude, growth is likely to slow down as significant avenues for expansion become scarcer. Over the last three quarters, Apple experienced year-over-year declines in sales. Nevertheless, from fiscal 2017 to fiscal 2022, Apple achieved an impressive annualized revenue growth rate of 11.5%. This suggests that recent challenges may be more tied to macroeconomic factors than intrinsic issues within the company.
Tempering Expectations
Investors should exercise caution and temper their expectations. Wall Street analysts generally agree that Apple's future trajectory will involve smaller gains, with a projected compound annual revenue growth rate of 3.4% between fiscal 2022 and fiscal 2025. While potential growth may come from emerging markets like India, the United States remains a crucial pillar of Apple's success. Unless Apple introduces another groundbreaking product with significant market potential, its growth is likely to decelerate.
Cash-Generating Powerhouse
Despite its mature phase, Apple remains a cash-generating powerhouse. In fiscal year 2022, the company generated a staggering $111 billion in free cash flow, and for the first three quarters of fiscal year 2023, it produced $80 billion in free cash flow. Additionally, Apple has consistently returned substantial sums of cash to shareholders, including dividends and stock buybacks. Berkshire Hathaway's 6% stake in Apple serves as a source of passive income for Warren Buffett's firm, contributing to Berkshire's decision to retain its Apple holdings.
Valuation Considerations
Apple's remarkable 2023 performance has elevated its stock price, with a trailing price-to-earnings (P/E) ratio of 29.8. Historically, Apple's shares have traded at an average P/E multiple of 20.2 over the past decade, indicating that they are currently trading at a premium to their historical norm. The exact reason for this elevated valuation remains somewhat uncertain, but it could be attributed to investors perceiving Apple as a safe haven in uncertain times.
Looking Ahead
While betting against Apple is challenging, valuation remains a crucial factor. Over the next three years, there's a compelling argument that the stock may not outperform and could potentially underperform the broader market. As the market comes to terms with the fact that Apple's growth prospects are diminishing, the stock may experience a downward rerating. Nevertheless, Apple's financial strength, cash-generating capacity, and brand appeal will continue to make it a compelling investment for many, but prudent consideration of its valuation is essential.
South African Stocks Flash Red as US Inflation Accelerates
The benchmark JSE/FTSE Top 40 index was 1.11% lower on Wednesday’s close as the interest rate-concerned global markets digest the latest consumer price figures from the US.
The US annual inflation rate jumped to 3.7% in August from 3.2% in July. On the other hand, the core inflation rate eased to 4.3% from 4.7%.
“For policymakers, this morning’s report likely solidifies the need for further action, however, the timing of any additional rate hike(s) remains unclear,” Stifel Economics said. “The Fed would be well advised to move forward sooner than later, although the market has all but sealed the door shut for a September hike, leaving the Committee to focus on November as the next probable date for a policy adjustment.”
Locally, the FNB/BER Building Confidence Index increased to 34 points in the third quarter from 28 points in the previous three-month period. The latest reading indicates that over 65% of the survey respondents are pessimistic about current business conditions.
The improvement reflects enhanced activity, particularly among builders, leading to higher profitability. “In all, the recovery in the building sector, at the very least, maintained its momentum in 2023Q3,” the Bureau for Economic Research said.
On the corporate side, Old Mutual (https://t.co/Lh9CNSRAVE) flagged an up to 20% year-over-year decline in its attributable profit for the six months ended June 30. The South African financial services group expects to report a first-half attributable profit of 3.87 billion rands to 4.84 billion rands, compared with 4.83 billion rands a year ago. The stock lost 3.45% at closing
Gold slips as investors gear up for US inflation report
US Aug CPI data due at 1230 GMT
Spot gold may retest support at $1,905 - technicals
Gold prices slipped on Wednesday, although were trading above a more than two-week low hit in the previous session as investors await U.S. inflation data that could shape expectations around the Federal Reserve's interest rate outlook.
Spot gold
GOLD
dropped 0.2% to $1,908.70 per ounce by 0308 GMT, having touched their lowest level since Aug. 25 at $1,906.50 on Tuesday. U.S. gold futures
GOLD
slid 0.2% to $1,931.10.
"Any upside surprises in the U.S. inflation data could have gold again being pressured below the $1,900 level," KCM Trade Chief Market analyst Tim Waterer said in a note.
With energy prices on the rise, expectations are for the headline inflation figures to come in stronger.
"On the flip side, if the energy price impact is not as great as feared in the data, we could see a pullback in yields and a path opened higher for gold," Waterer added.
The U.S. Consumer Price Index (CPI) data due at 1230 GMT could offer some insights on what to expect from the Fed in terms of rate hikes.
While the Fed is expected leave interest rates unchanged at its Sept. 19-20 policy meeting, the U.S. central bank will probably wait until the April-June period of 2024 or later before cutting it, according to economists in a Reuters poll.
The European Central Bank also expects inflation to remain above 3% next year, bolstering the case for a tenth consecutive interest rate hike on Thursday.
Bullion is highly sensitive to rising interest rates as they increase the opportunity cost of holding non-yielding bullion.
Spot gold may retest a support at $1,905 per ounce, with a good chance of breaking below this level and falling towards $1,898, according to Reuters technical analyst Wang Tao.
The Threat of Artificial Intelligence Tampa Bay Area Unemployment to Rise 📉Newly released research reports that artificial intelligence technology is gradually replacing jobs in the Tampa Bay area. The data shows that the Tampa-St. Petersburg area ranks in the top 15 nationally for potential unemployment risk due to AI technology📷. Nearly 14 percent of the Tampa Bay region's workforce (about 190,000 people) is at risk of being replaced by AI in administrative, data entry, clerical and other positions. This is especially true for retail sales associates 📷 and customer service representatives 📷. Over the next five years, AI could affect as many as 80 million jobs, but it also has the potential to create 70 million new jobs. 📞
📚☠️Dead Cross Signal☠️: The death cross appears on a chart when an asset's short-term Moving Average(MA), usually the 50-day, crosses below its long-term moving average, usually the 200-day.
📚🥇Golden Cross Signal🥇: In technical analysis, a golden cross occurs when the 50-day Moving Average(MA) crosses above the 200-day moving average. It's a bullish sign, indicating that the market may be heading toward a longer-term uptrend or bull market.
🌊Bitcoin has started its Major Corrective Waves in the Descending Channel for more than two years.
🌊Currently, Bitcoin has managed to complete its Five Impulse Waves above the descending channel.
🌊After breaking the Uptrend line, we confirmed the end of the Main Wave 5.
🌊Bitcoin is currently completing the first corrective wave, Wave A, in the 🟢Heavy Support zone($25,280-$23,900)🟢.
🔔I expect Bitcoin to start rising again from the 🟢Heavy Support zone($25,280-$23,900)🟢 and get back near the upper line of the descending channel and then fall again and break the 🟢Heavy Support zone($25,280-$23,900)🟢 and fall to the🟡Price Reversal Zone(PRZ)🟡 and fill the 🔵CME Gap🔵. (My expectation is that the structure of corrective waves is Zigzag(ABC/5-3-5)).
Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Embarking on the journey to financial prosperity involves scaling a pyramid of wealth-building levels. From conquering pesky debts to strategically saving and investing, each level signifies a significant stride towards securing your financial future. 🚀 Let's explore these stages in detail, supported by real-life examples that illuminate their transformative impact.
The results of last week's trading strategy were astounding, with average position profits reaching a frightening 10%.
This week is going to be big! We have a head and shoulders top pattern that could have a massive breakout at any time. I think it has a 70% chance of breaking down and a 30% chance of breaking out of this pattern.
Most importantly, let me know in the comments section what you think about the upcoming plunge or reversal! Up or Down?
Bitcoin is heading towards 20k and could reach 15k later this year if this pattern is broken, so the bulls must defend this support level and start a new uptrend from here.
As I said before, September was the worst month for bitcoin, with the average return on long-term bitcoin holdings being negative. This means that the price of bitcoin usually falls in September. This is statistically correct, but certainly not a guarantee. Based on historical data, Bitcoin is likely to fall.
The halving event next April is too far away, so you can't rely on it. Most likely, we will find the bottom of Bitcoin in March 2024.
This is a quick update on Bitcoin trends. I always give you a complete Bitcoin outlook to keep you up to date on all time frames. From monthly to hourly. Be sure to follow me so you don't miss the next update!
We all know that when the Bitcoin price is stuck in a range where volatility is at an all-time low, it can get pretty boring at times. But that's just the way it is, and that's why if you're a cryptocurrency trader, you can also trade other coins for risk diversification purposes.
This analysis is not a trade setup; there are no stops, entry points, profit targets, expected trade durations, risk-reward ratios or timing. I share my trades transparently and publish trade setups privately.
Exchange-based:follow-the-leader tokens
As the name suggests, exchange based tokens are exactly that – crypto tokens that form part of a crypto exchange that has deployed them to oversee functions such as reducing trading fees, adding discounts, and encouraging liquidity. Most often created and initial coin offerings (ICOs), these tokens attract popularity due to the usually sizeable reputations of the exchanges distributing them. Perhaps because of this, many of these tokens have moved away from their utility functions and operate more like equities. However, it is worth remembering that these run the risk of not being worth much outside of their native ecosystem and are often best used as part of an in-depth investment strategy.