The Stock Market Is Betting on a 2020 Victory for Donald Trump

Ursprünglich erschienen auf: https://www.ccn.com/stock-market-is-betting-on-donald-trump/

The Stock Market Is Betting on a 2020 Victory for Donald Trump CCN.com – News and Op-Eds for The Next Generation

Let’s set politics aside for a moment and talk about money. The stock market is unshakably confident that Trump will beat Biden in November.

The Stock Market Is Betting on a 2020 Victory for Donald Trump CCN.com – News and Op-Eds for The Next Generation

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Analysts Expect Ethereum to Hit $500 Despite Tapping Massive Resistance

Ursprünglich erschienen auf: https://thebitcoinnews.com/analysts-expect-ethereum-to-hit-500-despite-tapping-massive-resistance/

  • Ethereum has been flashing signs of immense strength throughout the past few days
  • The cryptocurrency is now pushing towards its yearly highs as its bulls come out in full force
  • This has allowed ETH to rally up to $437, with buyers now aiming at it setting fresh highs of over $440 in the near-term
  • That being said, this level may act as strong resistance for the crypto in the near-term, potentially slowing its ascent
  • Analysts are still convinced that this recent breakout signals that further upside is imminent, with one trader setting his sights on a move to $500

Ethereum is currently the best performing major altcoin within the market, showing serious signs of strength as it outperforms Bitcoin.

The crypto is about to set fresh yearly highs of over $440, although it does appear to be facing some resistance at this level – which may slow its climb in the near-term.

That being said, analysts still believe that further upside is imminent in the near-term. One respected trader is pointing to a confluence of factors that all suggest a move up towards $500 is imminent in the near future.

Ethereum Rallies Towards Fresh 2020 Highs as Momentum Mounts

At the time of writing, Ethereum is trading up roughly 3% at its current price of $438. This marks a massive surge from its recent lows of $379 that were set at the bottom of last week’s selloff.

This recent uptrend has allowed ETH to rally up to its previous 2020 highs, although it still remains unclear as to whether or not they will be surmounted.

These highs were set around $440 earlier this month, and the rejection here ultimately led it to plunge down towards its recent lows.

If broken above and flipped into support, this could catalyze some serious momentum for the cryptocurrency.

Analyst: ETH Likely to Target $500 as Confluence of Bullish Factors Emerges 

One analyst believes that Ethereum will flip this level into support and begin rallying even higher in the near-term.

While speaking about this, analyst Josh Olszewicz explained that a failed head and shoulders pattern is one factor that will now boost the ETH bull case and send it up towards $500.

“ETH: always feel more comfortable BTFD than buying HH, but lots of [confluence] for $500 zone b/t failed H&S and PF diag,” he explained.

Image Courtesy of Josh Olszewicz. Chart via TradingView.

As long as Bitcoin remains stable or continues slowly grinding higher, it is likely that Ethereum will be able to extend its current momentum further.

Featured image from Unsplash.
Charts from TradingView.

Post source: Analysts Expect Ethereum to Hit $500 Despite Tapping Massive Resistance

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The Stock Market Is Best Shorted on These Three Upcoming Dates

Ursprünglich erschienen auf: https://www.ccn.com/stock-market-best-shorted-three-upcoming-dates/

The Stock Market Is Best Shorted on These Three Upcoming Dates CCN.com – News and Op-Eds for The Next Generation

The stock market is poised for some poor performance ahead, based on historical calendar trends and its overall valuation.

The Stock Market Is Best Shorted on These Three Upcoming Dates CCN.com – News and Op-Eds for The Next Generation

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Bitcoin May Post Its 2nd Highest Two-Month Close in History as Bulls Take Control

Ursprünglich erschienen auf: https://thebitcoinnews.com/bitcoin-may-post-its-2nd-highest-two-month-close-in-history-as-bulls-take-control/

  • Bitcoin has been able to avoid seeing any type of intense bearishness today, as the cryptocurrency is now trading near $11,800
  • Although it has yet to test its key $12,000 resistance, it does appear that buyers are laying the groundwork for a visit to this level
  • One trader is observing that some technical factors are now working heavily in Bitcoin’s favor, including degrading resistance between its current price and $13,000
  • This comes as Bitcoin rapidly approaches its two-month candle close, which will be the second-highest one the crypto has ever seen – so long as bulls remain strong

Bitcoin and the entire crypto market are seeing some intense strength today, which has allowed the benchmark cryptocurrency to push towards $12,000 while altcoins like Ethereum begin garnering significant momentum.

The strength seen by Ethereum over the past couple of days has been so intense that some analysts are noting that it may be creating a tailwind that is helping to drive BTC higher.

Other analysts are also observing that BTC is seeing degrading resistance between its current price and $13,000 – which means that it may only be a matter of time before the crypto explodes higher.

This comes as the crypto’s two-month candle close nears, which will be the second-highest one in BTC’s history if bulls can hold it above its current price levels for the rest of the day.

Bitcoin to Post Second-Highest Monthly Candle Close Ever

At the time of writing, Bitcoin is trading up marginally at its current price of $11,710. This is around the price at which it has been trading throughout the past several days and weeks.

The strong recovery it was able to post late-last week when it dipped to lows of $11,100 is a bullish sign for the digital asset.

One analyst recently pointed to the cryptocurrency’s two-month candles, noting that tonight’s close will be the second-highest one ever seen.

“BTC could print its second highest two monthly close in history tonight.”

Image Courtesy of Bitcoin Jack. Chart via TradingView.

Chance of BTC Seeing Further Upside Grows Alongside Technical Strength 

One analyst is now noting that the likelihood of Bitcoin seeing further upside is growing, as its resistance is beginning to degrade while looking at its high time frame chart.

“High time frames on Bitcoin looks good. The weekly candle shows that buyers were interested in sub $11,550. And there isn’t much holding Bitcoin between the current price and $13ks on high time frames. I personally think it’s time BTC makes way for $12k+ again,” he explained.

Image Courtesy of Josh Rager. Chart via TradingView.

If Bitcoin closes its two-month candle around its current price levels, it would be a sign of macro strength.

Featured image from Unsplash.
Charts from TradingView.

Post source: Bitcoin May Post Its 2nd Highest Two-Month Close in History as Bulls Take Control

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What a Rebounding Dollar Could Mean for Bitcoin and Altcoins

Ursprünglich erschienen auf: https://thebitcoinnews.com/what-a-rebounding-dollar-could-mean-for-bitcoin-and-altcoins/

Both Bitcoin and altcoins have enjoyed a near-perfect environment for them to thrive, all based on the dollar’s weakness and decline. It has allowed these digitally scarce assets to rise significantly in 2020.

However, a rare signal suggesting that the dollar will soon reverse could put an end to the recent crypto bull rally. Here’s why.

The Dollar Isn’t Dying, And A Day Of Reckoning May Be Coming For Crypto

Unless you’re trading on a local regional exchange designed for just one country’s residents, chances are just about every asset listed trades against the dollar. It’s how the global reserve currency achieved its “almighty” status.

Because the dollar is tied to so many assets, almost all financial markets lie in the balance of the greenback. When the dollar is strong, equities tumble, precious metals lose their luster and crypto tanks.

RELATED READING | CHECK OUT BITCOIN AND GOLD’S “UNCANNY” CORRELATION DURING POWELL SPEECH

During the Black Thursday flight to cash, investors so feverishly selling off assets in exchange for dollars is what sent asst prices tumbling that day.

Since then, however, the dollar has been in steady decline, allowing gold to set a new all-time high, silver to spring up, and stocks to recover to new records. Bitcoin broke above $10,000, and the rest of the crypto market has been booming with shocking month-over-month ROI.

But could this money-making frenzy come to an end if the dollar reverses?

Historic DXY and Bitcoin Relationship Warns Of Potential V-Shaped Drop

Because all assets are tied to the dollar, when investors are in profit, it is cash they turn to secure any paper gains. This type of behavior proves that cash is still the undisputed king, despite a very real challenge from other currencies, like the Yuan, gold, or Bitcoin.

While the recent downtrend in the dollar could be a sign of the times changing, these changes will happen slowly over the course of the next several years.

And before that happens, there will be an epic fight to the finish. The most recent battle was won by Bitcoin, altcoins, gold, and silver, but the dollar is readying its revenge.

According to the TD Sequential indicator, among the most accurate reversal-calling tools in finance, the DXY Dollar Currency Index is signaling a weekly 9 buy setup. After a sequence of 9 successive candles leading to recent lows, it may indicate that the trend is exhausted and is close to turning around.

Since the trend has been down, this means the DXY could soon turn up. The DXY shows an inverse correlation with Bitcoin, meaning that when the dollar dives, the crypto market soars.

DXY Dollar Currency Index Versus BTCUSD Chart Comparison | Source: TradingView

This also could suggest that as the dollar rebounds, crypto is in for a reckoning. But given the circumstances and challenges the dollar is facing, a rebound rally isn’t guaranteed despite what the highly accurate indicator may claim.

RELATED READING | MAD MONEY: WILL THE GREENBACK COMEBACK DERAIL BITCOIN’S RALLY?

If the 9 count fails and no reversal follows, the count will continue until the sequence reaches the number 13. Maybe then you can bet your lucky dollar on a reversal in the king of fiat.

Looking at past examples of the rare TD 9 buy signal on weekly DXY charts, the most recent example was a 9 signal on February 18, 2018.

This was just a week or so following Bitcoin’s early bear market V-shaped drop. The DXY reversed so sharply, the 9 candle closed as a 1, indicating a new uptrend has begun and the count starts over.

bitcoin btcusd dxy

BTCUSD Chart With DXY TD 9 Buy Signals | Source: TradingView

The rebound from that move took Bitcoin price to approximately $11,750 at the top of the wick. Bitcoin was moments ago just rejected from the same area.

Could this be the start of a new downtrend for Bitcoin and a stronger dollar for many weeks to come?

Featured Image from Deposit Photos.

Post source: What a Rebounding Dollar Could Mean for Bitcoin and Altcoins

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Sony’s Big PS5 Event is on Sep 9 – If You Believe This 4Chan Rumor

Ursprünglich erschienen auf: https://www.ccn.com/ps5-event-blowout-sony-4chan-rumor/

Sony’s Big PS5 Event is on Sep 9 – If You Believe This 4Chan Rumor CCN.com – News and Op-Eds for The Next Generation

New leak hints at PS5 blow out on Sept. 9, including a release date, price, UI, and a glut of first and third party games.

Sony’s Big PS5 Event is on Sep 9 – If You Believe This 4Chan Rumor CCN.com – News and Op-Eds for The Next Generation

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How to earn a second income on eToro

Ursprünglich erschienen auf: https://thebitcoinnews.com/how-to-earn-a-second-income-on-etoro/

The social trading platform eToro has now made it possible to earn a second income with their Popular Investor program. 


It all has to do with their CopyTrader™ feature, which allows users to allocate funds to other traders’ investment moves — essentially, copying them. So, if you don’t feel like a confident crypto trader, but you see someone who is, use CopyTrader and you’ll mimic what they do automatically.

But what if you are a confident trader? Can you profit off being copied? Yes, you can.

You’ll have to apply to become a Popular Investor, but once you qualify, the chart below shows how the earning and upgrading system works. 

  • For Elite and Champion payments, payments are divided by 12 in order to pay the yearly AUM each month
  • AUM is the total aggregate copy amount of the unrealized equity of the current copiers. 

Once you achieve Champion status, your income will become a percentage of your AUM (assets under management). This means if the total equity of your copiers is $300,000, you’ll earn $500 a month (2% of 300,000 divided by 12) — plus the one-time $1,000 upgrade bonus.

The more copiers you have and the more assets they have, the more money you stand to make.

If you feel confident in your crypto trading game and are looking for some extra cash, this could be an avenue to explore.

eToro’s new Popular Investor program. Learn more about it here.


Disclaimer: The information presented here does not constitute investment advice or an offer to invest. The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.


 

Post source: How to earn a second income on eToro

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Fed Is Destroying the Dollar With Inflation. There’s No Turning Back

Ursprünglich erschienen auf: https://www.ccn.com/fed-destroying-dollar-inflation-no-turning-back/

Fed Is Destroying the Dollar With Inflation. There’s No Turning Back CCN.com – News and Op-Eds for The Next Generation

Strategists have expressed skepticism towards the Fed’s new inflation-targeting policy and its potential effect on the U.S. dollar.

Fed Is Destroying the Dollar With Inflation. There’s No Turning Back CCN.com – News and Op-Eds for The Next Generation

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