1. Today's Trading Outlook 🚀
✅ BTC Bitcoin Chart ✅ DXY US Dollar Index Chart ✅ US Retail Sales News ✅ Crypto Money Flow ✅ VC Funding ✅ Altcoins ✅ Conclusion ✅ Crypto News
Read this thread to learn more 👀 👇
Cryptocurrency Stocks Forex Trading Money Markets
2. BTC Bitcoin Chart
(1) - The red line shows the up move and price is starting to show signs of rolling over.
(2) - Price went into the blue area, a resistance area, but then weakness started to occur and price started rolling over.
3. BTC Bitcoin Chart (cont)
(3) - Price breaks the blue support trend line and expect further moves to the downside.
4. DXY US Dollar Chart
(1) - Breakout to downside.
(2) - Sideways on 50% level.
(3) - Down to blue support zone.
(4) - Good news will send DXY back up to 50%. Or bad news to retest the blue support area again.
US Retail Sales News
Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.
6. How to trade US Retail Sales Data
Actual: 👀 Forecast: 0.5% Last month: 0.1%
📉 Above forecast good for DXY / US dollar and bad for cryptocurrency such as Bitcoin and Altcoins
📈 Below forecast bad for DXY / US dollar and good for cryptocurrency
7. Today's Crypto Money Flow:
Rest too small to mention.
BTC to stable coins 3.6B ETH to stable coins 1.2B
Rest too small to mention.
A mixed bag today, biggest gainers include:
SCRT 64% LAZIO 35% OAX 29% PORTO 27% YFII 20% VITE 18% SANTOS 17%
Chiliz saw 978,008,941 buying Lazio Fan Token saw 177,495,849 buying Santos FC Fan Token saw 100,993,986 buying Prosper saw 62,623,265 buying
There is still a lot of fear in the crypto market with the FTX saga. With degens taking quick profits and altcoins are seeing a mixed bag.
DXY is waiting for the retail sales results, expecting to go to the 50%.
BTC is showing signs of weakness!
11. Crypto News
🚀 Northern Trust Appoints Alvin Chia as Head of Digital Asset Innovation for Asia Pacific
🚀 Metaverse infrastructure Element Black completes 6 million in financing
🚀 Zonff Partners Launches Web3 Startup Accelerator Aceleap
12. Crypto News (cont)
🚀 Blockchain SaaS lending solution provider Lentra completes 60 million in Series B financing
🚀 NFT platform Fantase will be launched on November 16, 2022
🚀 0xScope launched the industry transparency dashboard
13. Crypto News (cont)
🚀 FTX attack addresses dumped more than 30,000 BNB
🚀 FTX Bahamas Entity Files for Chapter 15 Bankruptcy in the Southern District of New York
🚀 FBI is planning to extradite SBF
14. Crypto News (cont)
🚀 Renault unveils industrial metaverse that will save 330 million in 2025
🚀 Pull Rug project FLARE token deployer transfers more than 30,000 BNB to Tornado Cash
🚀 Ethereum open interest totals about 1.5 billion
15. Have a great day and stay "classy" crypto traders!
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This post is based on this twitter thread.