Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Market: Eurex EURO STOXX 50 Index Futures, $FESX_F
Range: 2530/2540
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As we said in our Morning Meeting the assets' divergence puzzle is far from solved, the 30/40 interval was broken on the upside on the NFP numbers just to close below after the cash close. The cash on Friday showed the presence of buyers around this area therefore if today the market will be unable to regain the top of the range our short stance will still be in place.
Target: 2450
The Eur/$ will be our lighthouse today to solve the divergence puzzle.
Market: EUR/AUD, $EURAUD
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Buy/Sell?: Long Setup
Reason for trade: Interesting setup early on with a rejection of the 200 day moving average and a gap lower on open. If the 200 day moving average acts as support with the recent lows at 1.2330 then this pair could push higher on general risk off. Stop below recent pivot lows with targets tracking to the recent highs, offering a potential 5.5 reward per risk.
Market: EUR/NOK, $EURNOK
Buy/Sell?: follow up
Reason for trade: Has turned out to be a text book play. After rejecting the 200 day moving average this pair dropped like a stone and finally closed below a previous support line (now turned resistance), if we hold below the 7.36 mark then we could easily see a stronger move lower to 7.25, if we retrace slightly I would expect resistance at the 7.40 mark and 7.42.
Originally posted at www.77sigmatrading.com
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.