Author: Aibek Burabayev

Bitcoin Buy Setup, Apple Is On Alert

Posted on by Aibek Burabayev

The knowledge of chart structure helps to navigate the market even when the latter surprises traders.

Bitcoin Chart

Bitcoin dropped a little bit later than I expected, creating a complex structure. The main coin updated the all-time high as it hit the $69k mark. If we look deep into the structure in the 4-hour chart above, we find that it was a part of a large two-leg consolidation (red down arrows). The new record high was established within a "joint" connecting two legs down. Continue reading "Bitcoin Buy Setup, Apple Is On Alert" →

Commodity Prices Hit 7-Year High Amid New Bull Run

Posted on by Aibek Burabayev

The Refinitiv/CoreCommodity CRB Index (CRB index) is a commodity futures price index. It was well known under the name Thomson Reuters/Jefferies CRB Index before renaming. The CRB index is the gauge of the commodities market, which is comprised of 19 items as quoted on the NYMEX, CBOT, LME, CME, and COMEX exchanges within four following groups:

    • Petroleum-based products (based on their importance to global trade, always make up 33% of the weightings)
    • Liquid assets
    • Highly liquid assets
    • Diverse commodities

It includes aluminum, cocoa, coffee, copper, corn, cotton, crude oil, gold, heating oil, lean hogs, live cattle, natural gas, nickel, orange juice, silver, soybeans, sugar, unleaded gas, and wheat.

More than four years ago, I shared with you a big map of the CRB index with a long-term outlook. (Original chart is below) Continue reading "Commodity Prices Hit 7-Year High Amid New Bull Run" →

Santa Claus Rally Kicks Off For Gold

Posted on by Aibek Burabayev

The year is approaching a sunset. It is the right time for precious metals to get ready for a Santa Claus visit to take them for a ride to the sky. One of the metals has already been in the game; I am talking about gold.

Daily Gold Chart

In October, I enriched the bullish view with the newly spotted “Diamond” reversal pattern. Most of you confirmed that you see this pattern. It is still good, as the invalidation level was not touched. Continue reading "Santa Claus Rally Kicks Off For Gold" →

Bitcoin Hits The Target, What's Next?

Posted on by Aibek Burabayev

Last Wednesday, Bitcoin rallied to its highest price ever, reaching just over $67k. The minimum bullish target at the previous all-time high that was preset at the start of the month has been hit. The majority of readers guessed it right.

Did you book the profit?

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What's next? I see at least two opposite perspectives. Let us see them one by one.

Bitcoin Daily Chart

The chart above is based on the assumption that the next significant move is kicking off now after a considerable retracement from April to June this year. Continue reading "Bitcoin Hits The Target, What's Next?" →

Crypto Market Cap Hits New All-Time High

Posted on by Aibek Burabayev

Digital enthusiasts should be happy as last week, the total crypto market capitalization established a new all-time high of $2.5 trillion, surpassing the previous top of $2.4 trillion reached this spring.

Crypto

It coincides with the current move in Bitcoin, which is approaching an all-time high. Is it the main coin that contributes the most to pumping the market cap? Let us check it in the next chart of the total crypto market cap excluding Bitcoin. Continue reading "Crypto Market Cap Hits New All-Time High" →