Tag: Bitcoin (BITSTAMPUSD)

Bitcoin: Make It Or Break It

Posted on by Aibek Burabayev

One of our readers requested the update on cryptos, including Ethereum, this week. Here we go.

The leading coin has taught us excellent lessons recently. I shared with you a bullish setup for Bitcoin a month ago. In the following update, I recommended to move the stop loss higher from $50k to $55k area to cut the risk after the breakout and increase the risk/reward ratio to sound 2.7.

The price indeed broke above the confirmation level of $61782 and quickly reached the new all-time high in the $65k area, but then it failed to advance.

Bitcoin

We have the first lesson here from the RSI. As we can see on the sub-chart, the indicator did not confirm the new all-time high as it established a lower peak instead. This built the Bearish Divergence then, and the outcome you already know, the price collapsed dramatically. Continue reading "Bitcoin: Make It Or Break It" →

Disappointing Jobs Report And Record Highs

Posted on by The INO.com Team

The S&P 500 and DOW jumped to record levels on Friday despite a disappointing April jobs report. The Labor Department said nonfarm payrolls increased by just 266,000 in April, far less than the 1 million total economists were expecting, according to Dow Jones. The unemployment rate rose to 6.1% last month amid an escalating shortage of available workers, higher than an expectation of 5.8%. Meanwhile, March's originally estimated total of 916,000 was revised down to 770,000.

As the market came to a close on Friday, the S&P 500 climbed +0.7% to 4,232.60, hitting a record high. The DOW rose 229.23 points or +0.7%, to 34,777.76 to reach another closing high, and the NASDAQ jumped +0.9% to 13,752.24. Continue reading "Disappointing Jobs Report And Record Highs" →

Should You Own Cryptocurrency?

Posted on by Wayne Burritt

The short answer: Yes.

I’ll get to the reasons why it should be a part of just about every investor’s portfolio in just a moment.

I’ll also get into why, if you do take the plunge into crypto, do so gingerly.

But before we get started, take a look at the first three installments in this multi-part series about blockchain and cryptocurrency. We talked about why they’re so important, what they’re all about, and what they really mean to you.

Feel free to take a look at these when you get a sec. But they’re not needed to get a deep understanding into what we’ll talk about today.

So, let’s get to it. Here are just a few reasons to own cryptocurrency... Continue reading "Should You Own Cryptocurrency?" →

Stocks End Week With A Thud

Posted on by The INO.com Team

Stocks ended the week and the month of April with a thud on Friday as traders took profits amid a flurry of better-than-expected earnings results from the biggest names in the market. The S&P 500 fell -0.7% to 4,181.17, while the DOW shed -.54% or 185.51 points to close at 33,874.85, and the NASDAQ dropped -0.9% to 13,962.68.

On a weekly level, the S&P 500 was able to eke out a gain of +.02% marking 3 out of 4 positive weeks in April. The DOW and NASDAQ didn't fare well, both losing -.50% and -.39%, respectively.

While that may be disappointing, the bigger picture tells a different story. If you look at the monthly charts, The S&P 500 gained +5.24% while the DOW rose about +2.7% this month, and the NASDAQ gained +5.4% in April.

Key Levels To Watch Next Week:

Continue reading "Stocks End Week With A Thud" →

Stock Market Rallies To End Volatile Week

Posted on by The INO.com Team

The stock market rebounded Friday after what was a volatile week for the market. Why all the volatility? It came from multiple news reports Thursday afternoon that President Joe Biden is slated to propose much higher capital gains taxes for the rich. That news sent stocks plummeting, with the DOW falling as much as 460 points before finally closing down 321 points on the day.

However, on Friday the DOW gained 227.59 points or +0.7%, to 34,043.49. The S&P 500 rose +1.1% to 4,180.17, while the NASDAQ climbed +1.4% to 14,016.81.

On a weekly level, the S&P 500 closed the volatile week with just a -0.1% loss, while the DOW and the NASDAQ fell -0.5% and -0.3% for the week, respectively.

The other big story for the week is Bitcoin's sudden sell-off; now, whether that was due to the news of the proposed capital tax increase or just profit-taking is up for debate, the cryptocurrency fell over -13% this week, hitting a new 3 week low of 47,555.00. However, the Trade Triangles got out of the trade issuing a new red weekly Trade Triangle at 54,677.51 early in the week, signaling a move to the sidelines.

Key Levels To Watch Next Week:

Continue reading "Stock Market Rallies To End Volatile Week" →