The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
Risk Assets Ahead of Rally: What to Buy?
2022-08-12 • Updated
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected. The expectations of an upcoming inflation decrease and the fact that, despite the Federal Reserve's aggressive interest rate increases, companies remain profitable, and the jobs market is still in good shape helped to improve investors' sentiment.
Moreover, on Thursday, the Producer Price Index (PPI) also confirmed possible cooling of inflation, as numbers underperformed the forecasts.
The NASDAQ 100 (US100) is a capitalization-weighted index, which includes companies from major industry groups, such as computer hardware/software, retail/wholesale trade, biotechnology, and telecommunications.
Usually, investors treat these companies as risky investments as many have low revenue relative to debt. Therefore, this index is the main indicator of the traders' and investors' risk sentiment.
US100 breakout on the D1 timeframe
What to trade?
If US100 doesn’t return under the trendline by the end of the week, traders might consider buy trades with the target at 14 000.
CCL, Daily chart
Although the stock of Carnival Corporation isn't included in US100, the overall stock market growth might boost CCL. The price has formed a triple bottom pattern with the resistance at $11.10. Traders should consider buying the stock after the breakout of this level, with the target at $13.35 (21% potential profit).
AMD, weekly chart
The price has formed a double bottom inside of the bullish wedge. The wedge breakout has already happened, highlighting the possibility of an upcoming pump. Traders should consider buying AMD stock after the price breaks above $110.00, with the target at $135.00.
COIN broke out of the horizontal consolidation, and currently, the price is retesting the breakout from above. If buyers hold the $80.00 support, they will have all chances to push the stock to $155.00.
Nvidia is consolidating between 163.00 and 193.00. Currently, the price is forming an inverted head-and-shoulders pattern. The breakout of 193.00 resistance will confirm the pattern and set the target at 230.00.
If the price goes below 163.00, it will go towards 145.00.
Tesla, daily chart
Tesla stock is trading inside the inverted falling wedge, which usually works as a bullish pattern. If the price breaks above 935.00, traders should consider following the trend with the target at 1040.00. Trade declines if the price falls below 825.00.
Apple, weekly chart
Apple stock also moves inside an inverted falling wedge. The rally will start after the breakout of the wedge’s upper border. In this case, the first targets will be 182.00 and 212.00.
If the price doesn’t break the resistance, it will decline to 155.00.
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People all over the world love kind and colorful Disney cartoons. What if we say that you can both adore the pictures and trade stocks of the company that creates them?
The e-commerce giant has recently faced a lot of pressure, starting from global uncertainty in China amid lockdowns and geopolitics. The company has been added to the US SEC (Securities and Exchange Commission) delisting queue. Finally, there’s an earnings report coming on August 4. Let’s discuss everything and prepare for the next move.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.