Daily 4XSetUps - Terrain Around $70000 Crossroad For Our BTC1!

2024/11/01
Daily 4XSetUps - Terrain Around $70000 Crossroad For Our BTC1!
“we stayed in a settlement above $66000 two weeks yet!
outbreak this week? and/or next week confirmation?”



$70300 - (2024/11/01) - last price action
$62470 - (2024/08/02) - GAP Upper Trend Line
$59445 - (2024/08/05) - GAP Down Trend Line

That's why I`m basically bullish for BTC1! .
And that because of the last bearish GAP which was confirmed in the last calendar week before! What? Yes, look at the Chart! We have fallen back into the bearish GAP - but the bulls have regained ground above it. At least since the last upward movement, which is now 2 full calendar weeks behind us! Which admittedly is no guarantee that price action will continue to rise? True - but with a price action above this bearish GAP we have solid hope! And that's what this 4XSetUp is aimed at. That´s why i formulated this long 4XSetUp as i formulated. And building on the bearish GAP that was recaptured, the rally, precisely from this bearish GAP, has stalled! And that's what this calendar week was all about. After last calendar week before bulls and/or bears were fighting within - as I tried to describe.

Many influencing factors play a role in this price action - which I don't want to go into at this point and can't go into. US elections? Will Trump win? Does BTC1! win? Does Trump lose? Does Trump lose? Is BTC1! losing? Or the other way around? I don't know! And about the influence of US economic data I also don't wanna know anything! Because for me, BTC1! is fundamentally always emotionally driven, including their observers, traders and/or investors - who basically always write BTC1! up. Because they own it. The others, like me too, simply don't care about it - the narratives which drive the price action up and/or down. That's it - basically!

However, our German stock market DAX stopped a three-day series of losses on Friday with significant gains. After a friendly start to the stock market, our leading German index continued to rise and closed a few minutes ago this calendar week with +0.93% at 19,254.97 points. He reduced his weekly loss to just over -1%. In the afternoon, the price was supported by a better than expected and good US unemployment rate - and the correspondingly friendly opening of the stock market on Wall Street. All of our four long 4XSetUps from the DAX also closed in the green today ADS & CBK & BMW & DTE . Like our two alternative long 4XSetUps from Switzerland UBSG and/or France 1MC . Which we will all continue to run in the coming week, the week of the US elections - with corresponding target prices and/or stop prices.

“If you don’t look on yourself and think, ‘Wow how stupid I was a year ago,’ then you must not have learned much in the last year.”
Ray Dalio

The latest polls promise a neck-and-neck race between Democratic US Vice President Kamala Harris and Republican former President Donald Trump. The future majorities in the two chambers of Congress, the Senate and the House of Representatives, are also uncertain. In addition, in what is probably the most exciting trading week of 2024, the US Federal Reserve's interest rate decision is also on the agenda. Which hardly anyone discussed this week - neither did I. Because until the first last interest rate cut, I assumed that the FED would not lower interest rates at all this year, 2024. But after the recent bang of 50 basis points, I am now assuming, also due to the good US unemployment rate of 4.1%, that the FED will cut interest rates by 25 basis points next week. And Jay Powell, with his decision-makers, will continue to constructively verbalize a soft landing scenario for the US economy. That's where we seem to be right now. I feel like ING chief economist James Knightley, who also expects, "that the Fed to cut the key interest rate by a further 0.25 percentage points on Thursday evening - regardless of the US election outcome and possible market turbulence." - as he wrote today. However, according to the Fed Watch Tool from the options exchange CME, which maps bets on future interest rate developments, such a step is considered safe.

$70300 - (2024/11/01) - last price action
$68225 - (2024/10/15) - Above Average Bear 1h High
$68045 - (2024/10/15) - Above Average Bull 1h High
$65980 - (2024/10/15) - Above Average Bull 1h Low
$65385 - (2024/10/15) - Above Average Bear 1h low

Early last week, on Sunday, New York time, the BTC1! tried! to break out of the short-term intraday settlement just above $66000 - but it didn't work all last week. In contrast to this week - when we broke out upwards, also at the beginning of the week. Yes, bulls and/or even bears traded a new historical all-time high on Tuesday at $74485. What the bulls were able to defend just below on Wednesday. But they had to admit defeat to the bears on Thursday - as they did more or less today. Nevertheless, the course of the week so far - we still have almost a handful of hours - looks bullishly constructive. Because we bulls defended the $70000 price action are yesterday and/or today. The false breakout, the resistance, at 69635 USD, 2 weeks ago, when the bears were still determining the terrain, served as a supporting price action area this week, just yesterday and today.


With best wishes
and with good intentions!
Aaron



Another 48h - DXY ... is pure information material.
By trying to give you even more information about the DXY every day to make even better trading decisions (buy/sell or do nothing). The goal of each day is from my side that you say to yourself after reading my daily analysis (Another 48h - DXY ...): "I didn't notice that before!" Because then you have received new information; yes - maybe even learned something!? If, yes? Then give me a like - and continue reading tomorrow! Concrete 4XSetUps with entry price, target price and also stop price are available in the daily 4XSetUps...