Crypto Focus: Frustrating Week with Lower Volatility
After the previous week’s fireworks, you might have expected a little more from the major coins this week, but we failed to see much with most of the top ten remaining in ranges or tight moving channels. ETH was one of the better performers in the top 10, adding a bit under 6% to today’s session. Other coins like SOL have sat in the 3% area range. The price is back at Monday’s closing point as I write this. ADA and XRP, like ETH, showed a little bit more to the upside this week XRP hit close to 5% in gains on Friday but so far not breaking last weeks high. Updates in its case vs the SEC also look to be helping the coin buck Friday’s mainly negative mood over the top 10. ADA is another bucking Friday weakness adding 10%.
The reaction after last week’s minutes painted a hawkish picture for rates in the future until the Fed can bring inflation under control. We feel that the border market is looking to Jackson Hole for direction and confirmation that the policy is Hawkish. If this is the case, will we see further downside on the major coins as we have seen in the past?
But could we see a fast rally if we see something more towards the doves? Let us look at Bitcoin. We know what happened last week. We saw a fast break lower that broke the recovery trend and confirmed an ending diagonal. A hawkish tone could confirm the continued bearish pattern we are watching. This week’s price action continues to sit in an ascending triangle pattern, typically seen as bearish continuation patterns. Bad news from Powell could reignite the downtrend with a new break lower.
But beware, if things don’t come out as hawkish as expected from Powell’s speech at Jackson Hole, this could be enough to set buyers in motion, so traders shouldn’t think about selling before they see confirmation.
* ຂໍ້ມູນທີ່ສະຫນອງໃຫ້ຢູ່ໃນຫນ້ານີ້ສະແດງຄວາມຄິດເຫັນຂອງຜູ້ຂຽນແລະບໍ່ຈໍາເປັນຕ້ອງສະທ້ອນຄວາມຄິດເຫັນຂອງ Eightcap ແລະບໍ່ໄດ້ຮັບການຮັບຮອງໂດຍ Eightcap.
ບຸກຄົນໃດໆທີ່ສະແດງຂໍ້ມູນທີ່ນໍາສະເຫນີຢູ່ໃນຫນ້ານີ້ເຮັດພຽງແຕ່ຢູ່ໃນຄວາມສ່ຽງຂອງຕົນເອງ. ບໍ່ມີຕົວແທນ ຫຼືການຮັບປະກັນ. ໂດຍບໍ່ຄໍານຶງເຖິງຄວາມຖືກຕ້ອງຫຼືຄົບຖ້ວນຂອງຂໍ້ມູນນີ້, ການຄົ້ນຄວ້າໃດໆທີ່ດໍາເນີນບໍ່ໄດ້ຄໍານຶງເຖິງຈຸດປະສົງການລົງທຶນສະເພາະ. ສະຖານະການທາງດ້ານການເງິນ ແລະຄວາມຕ້ອງການຂອງບຸກຄົນຜູ້ທີ່ອາດຈະໄດ້ຮັບຂໍ້ມູນດັ່ງກ່າວ.
ການຊື້ຂາຍ margin ມີຄວາມສ່ຽງສູງແລະອາດຈະບໍ່ເຫມາະສົມສໍາລັບນັກລົງທຶນທັງຫມົດ. ທ່ານຄວນພິຈາລະນາຈຸດປະສົງ. ທ່ານຄວນພິຈາລະນາສະຖານະການທາງດ້ານການເງິນ, ຄວາມຕ້ອງການແລະລະດັບປະສົບການຂອງທ່ານຢ່າງລະມັດລະວັງກ່ອນທີ່ຈະເຂົ້າໄປໃນການເຮັດທຸລະກໍາຂອບກັບ Eightcap ແລະຂໍຄໍາແນະນໍາຈາກທີ່ປຶກສາອິດສະຫຼະຖ້າຈໍາເປັນ.