Everything Finance ππ
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An update that I feel everyone here should get to know
CC: The Palm Academy Telegram Channel
Crypto Update for Today
1. Bitcoin surges as due to the Amazon purchase rumour.
2. Bitcoin weekly close last week has confirmed the upward momentum of the Bitcoin market, more positives in the market.
Expect more FOMO due to Amazon's rumour
3. Wallet Maintenance for Ethereum Network (ERC20) - 2021-07-27: Binance will perform wallet maintenance for Ethereum Network (ERC20) at 2021-07-27 07:00 AM (UTC). The maintenance will take about 2 hours. Deposits and withdrawals on Ethereum Network (ERC20) will be suspended starting from 2021-07-27 06:55 AM (UTC).
https://www.tradingview.com/x/YHi9ibnK
After long hours of ranging, price broke out β
BTC JUST TOUCHED THE $40K MARK SO OTHER COINS ARE FOLLOWING SUIT
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AUDCHF, W1
Educational Content and a Bias
_After a serious downtrend of this market that lasted for about 2 years (January 2018 to December 2020), the trend was finally changed after there was a break of structure and the formation of an inverse head and shoulder reversal chart pattern
_The market was bullish for an extra three months before it started dropping hard from the 15th of March.
_By the application of the Fibonacci Retracement Tool, I discovered that the market is likely just retracing for a further push towards the upside and my confluences include:
βΆοΈA 61.8% retracement of the previous impulse before more bullish impulses.
βΆοΈThe retest of a key S/R structure
_If this bias plays out, the market is most likely going to buy for about 900 pips before any form of rejection at the supply zone and psychological level of price 0.76500
_If one is to take this trade, entry triggers and confirmations should be sought after on the lower timeframes.
Risk-to-Reward Ratio is 1:6.83
EURAUD, H4
_Market is currently in an uptrend
_Rejected a key S/R level
_Tested the trendline of support for the third time
Bias: More HHs and HLs
That's all for today.
We anticipate more as time goes by.
I'll keep everyone updated on how these biases played out.
NFLX, H4
BIAS:
Following their Quarterly Earnings Release on the 20th of July, the Netflix Stock saw a quick drop in value (from $536/stock to $505/stock) as investors were hit with a surprise earnings report of 2.97 EPS (Earnings per share) which is a 6.66% decrease from what was expected (3.18 EPS)
We may see the price of one NFLX stock pump to about $540 due to the key structure that is being retested before a drop.
Netflix are doing all they can to keep their business at the top as they currently released a growth plan too.
Nigerians here, you might have seen their current ad about paying just 1200NGN for their monthly subscriptions which is a massive discount compared to their previous fee of 4,000NGN
Let's see what happens next
If you need to read more about their Quarterly Earnings Report, you can download this PDF and take a lookβ¬οΈ
BTCUSDT, H4
BIAS: We may see the king of cryptocurrencies surge towards the price of $35,000
It's bullish power has been unmatched since it touched the $29,500 Demand Zone plus Elon's acclamation of holding the coin.
Let's see what happens nextπ
BTCUSDT, H4
BIAS: We may see the king of cryptocurrencies surge towards the price of $35,000
It's bullish power has been unmatched since it touched the $29,500 Demand Zone plus Elon's acclamation of holding the coin.
Let's see what happens nextπ
