Author: msmark

A closely followed crypto strategist believes one red-hot Shiba Inu (SHIB) rival will be a top performer in the ongoing bull market. Pseudonymous analyst Inmortal tells his 211,200 followers on the social media platform X that he is bullish on the dog-themed crypto asset Floki (FLOKI) due to significant project announcements. “Important announcement on Thursday. Roadmap release on Friday. Nothing stops this train. This is what is positioning FLOKI to be the main memecoin in this bullrun.” Floki and its sister project TokenFi, a crypto and asset tokenization platform, are reportedly set to serve as official partners of the World…

The EURUSD is trading at new session lows and lows for the week. In the process, the pair is testing the high of a swing area near 1.0847 and the 61.8% of the move up from the February low to the March high at 1.08036. The swing area extends down to 1.07955 (see red numbered circles). A move below that area – and staying below – opens the door to more downside probing. If buyers can support the pair here, it would take a move back above the 50% of the move up from the February low at 1.08374. At…

The Fed is aiming for three rate cuts, in the view of economists at Rabobank. The Fed will halt its cutting cycle during the course of 2025 March’s meeting strengthened our expectation that the FOMC will make three rate cuts this year. By stressing the other possible reason to cut, a weakening labor market, it is clear that the Fed is aiming for three rate cuts, either because of greater confidence that inflation is sustainably heading toward 2% or because unemployment rises.  Nevertheless, there remains a narrow path to the FOMC remaining on hold for longer. There is still a…

A crypto trader who called Bitcoin’s (BTC) 2018 price floor thinks that top memecoin Dogecoin (DOGE) is gearing up to witness a big upside move. The analyst pseudonymously known as Bluntz tells his 250,400 followers on the social media platform X that DOGE is in a solid position to print gains against both the US dollar and Bitcoin. According to the top trader, DOGE is primed to start another leg up in both the USD and BTC pairs after completing a three-wave correction that started in the first week of March. “DOGE finally looks ready to rip higher again, nice…

2024.03.22 2024.03.22 USDCHF: Elliott wave analysis and forecast for 22.03.24 – 29.03.24Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/Main scenario: consider short positions from corrections below the level of 0.9108 with a target of 0.8325 – 0.8050 once a correction is completed. Alternative scenario: breakout and consolidation above the level of 0.9108 will allow the pair to continue rising to the levels of 0.9240 – 0.9451.Analysis: the downside fifth wave of larger degree (5) is presumably unfolding on the daily time frame. As its part, wave 1 of (5) is formed, a bullish correction is completed as second wave 2 of (5), and the third wave 3…

Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price dropped 2% in the last 24 hours to trade at $65,902 as of 04:01 a.m. EST on trading volume that dropped 31% to $39 billion. This comes as Grayscale’s GBTC Bitcoin ETF (exchange-traded fund) recorded another $359 million in outflows on March 21. Still, Bloomberg ETF analyst Eric Balchunas said on X that he thinks ”the worst is prob close to being over.” The more I think about it the more likely the uptick in flows is related to the bankruptcies bc of the…

The USDJPY bumped against three-year highs this week on both Wednesday and Friday, and found willing sellers each time. The high on Wednesday reached 151.81. The high today reached 151.85. That compares to the 2022 high at 151.95, and the 2023 high at 151.91. So over the last three years, the swing highs are within 10 pips of each other. That’s a ceiling. Having said that ceilings are meant to be broken. If it happens, it would take the USDJPY to the highest level since 1990 over 30+ years ago.What would give the sellers more confidence?The swing highs from February…

The US Dollar jumps higher for the second week in a row. Traders are challenging the Fed’s dovish stance, casting doubts over its forecasts of three rate cuts for this year.  The US Dollar Index snaps firmly above 104.00 and breaks substantial support levels.  The US Dollar (USD) is basking in the glory of re-founded belief from traders. Whereas last year markets were challenging the US Federal Reserve (Fed) by pricing in more rate cuts than what the dot plot suggested, investors are now defying the US central bank in the other direction. Markets are expanding their positions in the…

In line with the decline in Bitcoin’s price, the spot Bitcoin ETF market has appeared rather gloomy in recent days. According to data from analytics firm BitMEX Research, these BTC ETFs have recorded a negative netflow for the last four trading sessions.  This situation has been marked by large levels of Grayscale’s GBTC outflows and the record low inflows for the other ETFs, mainly the market leaders BlackRock’s IBIT and Fidelity’s FBTC. However, amidst these persistent declining netflows, Ki Young Ju, a prominent analyst and Chief Executive Officer at Cryptoquant, has predicted a possible resurgence in the spot Bitcoin ETF market.…

2024.03.22 2024.03.22 EURUSD: Elliott wave analysis and forecast for 22.03.24 – 29.03.24Alex Geutahttps://www.litefinance.org/blog/authors/alex-geuta/Main scenario: consider long positions from corrections above the level of 1.0795 with a target of 1.1141 – 1.1350.Alternative scenario: breakout and consolidation below the level of 1.0795 will allow the pair to continue declining to the levels of 1.0688 – 1.0613.Analysis: a bearish wave of larger degree A is presumably completed on the daily chart. A bullish wave B started unfolding, with first wave 1 of (A) of B and corrective second wave 2 of (A) of B formed as its parts. Apparently, the third wave 3…