✨⭐️ Crypto Trading Quant ⭐️✨

Bitcoin News: Today’s Trading Outlook, Market Direction, and More

1. Today's Trading Outlook πŸš€

βœ… BTC Bitcoin Chart βœ… DXY US Dollar Index Chart βœ… US Retail Sales News βœ… Crypto Money Flow βœ… VC Funding βœ… Altcoins βœ… Conclusion βœ… Crypto News

Read this thread to learn more πŸ‘€ πŸ‘‡

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.

5.

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: πŸ‘€ Forecast: 0.5% Last month: 0.1%

πŸ“‰ Above forecast good for DXY / US dollar and bad for cryptocurrency such as Bitcoin and Altcoins

πŸ“ˆ Below forecast bad for DXY / US dollar and good for cryptocurrency

7. Today's Crypto Money Flow:

Inflow:

Stable to BTC 698.8M Stable to DOGE 146.6M Stable to MATIC 133.4M Stable to LAZIO 67M

Rest too small to mention.

Outflow:

BTC to stable coins 3.6B ETH to stable coins 1.2B

Rest too small to mention.

9. Altcoins

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

10. Conclusion

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

πŸš€ Northern Trust Appoints Alvin Chia as Head of Digital Asset Innovation for Asia Pacific

πŸš€ Metaverse infrastructure Element Black completes 6 million in financing

πŸš€ Zonff Partners Launches Web3 Startup Accelerator Aceleap

12. Crypto News (cont)

πŸš€ Blockchain SaaS lending solution provider Lentra completes 60 million in Series B financing

πŸš€ NFT platform Fantase will be launched on November 16, 2022

πŸš€ 0xScope launched the industry transparency dashboard

13. Crypto News (cont)

πŸš€ FTX attack addresses dumped more than 30,000 BNB

πŸš€ FTX Bahamas Entity Files for Chapter 15 Bankruptcy in the Southern District of New York

πŸš€ FBI is planning to extradite SBF

14. Crypto News (cont)

πŸš€ Renault unveils industrial metaverse that will save 330 million in 2025

πŸš€ Pull Rug project FLARE token deployer transfers more than 30,000 BNB to Tornado Cash

πŸš€ 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.

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