Category Archive: Cryptocurrency, No picture
SEC may let Ethereum spot ETFs happen, but not with staked ETH: Galaxy Digital Head of Research
The US Securities and Exchange Commission (SEC) may greenlight spot Ethereum exchange-traded funds (ETFs) that do not include the staking feature, suggests Alex Thorn, Head of Research at Galaxy Digital. He believes the SEC would distinguish Ethereum (ETH) and staked ETH in the approval process. “If the speculation about a 180 from SEC on the […]
Gold And US Politics
Image Source: UnsplashIn the 11th March Weekly Update we noted that the rise in the US$ gold price in the face of tight US monetary policy and high (by the standards of the past decade) real US interest rates implied concern about what’s likely to happen to the US$ in the future. We went on to […]
Australian Dollar Tests Key Channel Support Against US Dollar
Image Source: UnsplashThe AUDUSD currency pair is once again facing the support of the rising price channel visible on the 4-hour chart. This area will likely determine the pair’s near-term directional bias. Consolidation Within Uptrend As long as the AUDUSD remains above the rising channel support, the current pullback from the 0.6713 high can be viewed […]
Elliott Wave Technical Analysis: Bitcoin Crypto Price News For Tuesday, May 21
Image Source: UnsplashElliott Wave Analysis TradingLounge Daily ChartBitcoin/ U.S. dollar(BTCUSD)BTCUSD Elliott Wave Technical AnalysisFunction: Follow TrendMode: MotiveStructure: Impulseposition: Wave VDirection Next higher Degrees: wave (III)Wave Cancel invalid level: 31046.25Details: Wave IV may be complete and the Price increase again in Wave VBitcoin/ U.S. dollar(BTCUSD)Trading Strategy: Overall, Bitcoin is still in an uptrend. It is currently in a period […]
This Double Bottom Could Trigger A Massive Short Squeeze
Image Source: Unsplash Weekend’s over… let’s make some money! Markets are range-bound ahead of major news later in the week…I have (2) Range trades on my radar, and this Double-bottom Reversal is my favorite!Markets are bullish into ranges tonight, and I see 3 clues telling where the best entries are going to be…The first 2 clues […]
Gala Games CEO admits fault in $240 million token exploit
Following the recent exploit that drained approximately $240 million worth of GALA tokens, Gala Games CEO Eric Schiermeyer responded with a statement, admitting to internal control failures and vowing to improve security measures. He also mentioned that the company has likely identified the perpetrator and is collaborating with the FBI, Department of Justice, and international […]
Dow Draws Back From Highs, Nasdaq Sits At New Record
Image Source: PexelsRecord-high closes on the Dow take a break today. After opening the first session of the trading week higher, the blue-chip index slipped into the red around lunchtime and was not able to recover, -0.49%, or -196 points — back below the 40,003 close on Friday. The S&P 500 came closer to a new […]
The Canadian Cannabis Report- Monday, May 20
Image source: UnsplashThe Canadian Cannabis Report- Monday, May 20 Image source: Unsplash For the trading week ended May 17, 2024, my proprietary Canadian Cannabis Company Index (MCCCI) increased by 8.8% compared to the prior week when it decreased by 4.7%. The index consists of 14 stocks, many of which are among the most widely held holdings […]
Nasdaq 100 & S&P 500 Elliott Wave Update – Mon, May 20
Image Source: UnsplashBoth the ES and the NQ continued to expand on the upside with additional new highs being put in today. The EW pattern remains in an “extended” 5th wave. I review the degree and what is yet to come before “larger & deeper” retracements should occur. The markets continue to work towards the completion […]
Stocks Finish Flat As Rates Recover Post-CPI Declines
Image Source: UnsplashThe S&P 500 finished the day flat as markets braced for Nvidia (NVDA) earnings on Wednesday afternoon. Braced may be an overstatement based on today’s implied volatility levels; the market has all day Wednesday to prepare for Nvidia’s results. Outside of Nvidia moving higher today, it was a dull day, except JPMorgan dropping by […]
