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#BTCEUR getting close to 54k #EUR & potential #Elliottwave 2 of V support region, layer in long positions between 55k-52k with 51k stop gives defined risk of max. 2.5k or less than 5%, conservative upside target roughly 80k-90k.
LIVEEuroChartCreator
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#BTCEUR July'24 review: BTC chose the orange path, briefly peeked below 58k #EUR and is currently defending 0.382 retracement of the July rally. If this mini pullback on the 15min chart holds 59.5k to make a higher high, preferably above 61k we will have a clean impulsive #Elliottwave to work with.
Bigger picture on the hourly, aggressive short should move stop down to 62k while 58k becomes interesting for aggressive long.
More context for July:
- from July 22 : "We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH. Expect more resistance for $BTC " => signaled limited upside potential;
- from July 26 : "I believe a better chance to buy $BTC is going to present itself soon" => it was 62k then and went briefly above 64k, getting sub 60k now;
- from July 29 : "the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k" => 52k-54k should be strong support;
So with weekly levels from BTCEUR 24Q2 review still applies, we now have a more immediate bullish setup to work with. As long as 51k holds, new ATH should be seen by 24Q4.
Bigger picture on the hourly, aggressive short should move stop down to 62k while 58k becomes interesting for aggressive long.
More context for July:
- from July 22 : "We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH. Expect more resistance for $BTC " => signaled limited upside potential;
- from July 26 : "I believe a better chance to buy $BTC is going to present itself soon" => it was 62k then and went briefly above 64k, getting sub 60k now;
- from July 29 : "the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k" => 52k-54k should be strong support;
So with weekly levels from BTCEUR 24Q2 review still applies, we now have a more immediate bullish setup to work with. As long as 51k holds, new ATH should be seen by 24Q4.
#BTCEUR July'24 review: BTC chose the orange path, briefly peeked below 58k #EUR and is currently defending 0.382 retracement of the July rally. If this mini pullback on the 15min chart holds 59.5k to make a higher high, preferably above 61k we will have a clean impulsive #Elliottwave to work with.
Bigger picture on the hourly, aggressive short should move stop down to 62k while 58k becomes interesting for aggressive long.
More context for July:
- from July 22 : "We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH. Expect more resistance for $BTC " => signaled limited upside potential;
- from July 26 : "I believe a better chance to buy $BTC is going to present itself soon" => it was 62k then and went briefly above 64k, getting sub 60k now;
- from July 29 : "the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k" => 52k-54k should be strong support;
So with weekly levels from BTCEUR 24Q2 review still applies, we now have a more immediate bullish setup to work with. As long as 51k holds, new ATH should be seen by 24Q4.
Bigger picture on the hourly, aggressive short should move stop down to 62k while 58k becomes interesting for aggressive long.
More context for July:
- from July 22 : "We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH. Expect more resistance for $BTC " => signaled limited upside potential;
- from July 26 : "I believe a better chance to buy $BTC is going to present itself soon" => it was 62k then and went briefly above 64k, getting sub 60k now;
- from July 29 : "the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k" => 52k-54k should be strong support;
So with weekly levels from BTCEUR 24Q2 review still applies, we now have a more immediate bullish setup to work with. As long as 51k holds, new ATH should be seen by 24Q4.
LIVEEuroChartCreator
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Hope you enjoyed the chop while #BTCEUR was completing a larger degree 5th #Elliottwave labeled in orange with a 64k #EUR top as of writing.
Now a highly speculative setup presents itself as per azure labels, though I personally am more confident with the orange interpretation, the RR in azure is insane with tight stop 59k slightly under the Nov.2021 top.
Either way, the action off the July low is constructive for a new ATH sooner than I previously expected in my $BTC 24Q2 review, as long as 52k holds. For reference, the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k.
So until breakout to new ATH, prudent longterm holders still need to be mentally prepared for a revisit under 50k: as per the 24Q2 review, even a drop into 45k can be very bullish with a 6-12 months outlook.
Now a highly speculative setup presents itself as per azure labels, though I personally am more confident with the orange interpretation, the RR in azure is insane with tight stop 59k slightly under the Nov.2021 top.
Either way, the action off the July low is constructive for a new ATH sooner than I previously expected in my $BTC 24Q2 review, as long as 52k holds. For reference, the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k.
So until breakout to new ATH, prudent longterm holders still need to be mentally prepared for a revisit under 50k: as per the 24Q2 review, even a drop into 45k can be very bullish with a 6-12 months outlook.
#EURUSD closing July around 1.085 in an increasingly tight triangle, looks like still more chop ahead. Watching 1.103 for breakout to the upside; while I'm not expecting #EUR to breakdown, under 1.068 will be a red flag and 1.055 stop for the #Elliottwave 1-2-i-ii setup.
The $EUR USDC trading pair with all the slippage is yet at another 0.618 level, see if it can find support between 1.079-1.072 for the immediate bullish path.
Maintain strong bullish bias for the #euro against the #dollar on the weekly until 1.01 is threatened.
The $EUR USDC trading pair with all the slippage is yet at another 0.618 level, see if it can find support between 1.079-1.072 for the immediate bullish path.
Maintain strong bullish bias for the #euro against the #dollar on the weekly until 1.01 is threatened.
LIVEEuroChartCreator
--
EURUSD 24Q2 review
Take the super long term #EURUSD chart with a grain of salt, but beside the usual fib levels, the region around 1.15 also seems interesting.
For the next few months or even years, the Jul.2006 top is much more relevant. Off that top the #euro falls against the #dollar in a very corrective fashion and I can argue for a #Elliottwave diagonal being completed. As long as 1.05 holds, immediate path to the upside should reach 1.16 minimally, while 1.24 seems to be a strong resistance.
Back on Binance one can take advantage of the Zero Fee Promotion for the EUR/USDC trading pair. Even with sippage due to low volume, it still has a very interesting structure on the hourly: a flat correction retracing 0.618. I would watch the last two lows, 1.06 and 1.03, closely if attempting long #EUR
$EUR $USDC
For the next few months or even years, the Jul.2006 top is much more relevant. Off that top the #euro falls against the #dollar in a very corrective fashion and I can argue for a #Elliottwave diagonal being completed. As long as 1.05 holds, immediate path to the upside should reach 1.16 minimally, while 1.24 seems to be a strong resistance.
Back on Binance one can take advantage of the Zero Fee Promotion for the EUR/USDC trading pair. Even with sippage due to low volume, it still has a very interesting structure on the hourly: a flat correction retracing 0.618. I would watch the last two lows, 1.06 and 1.03, closely if attempting long #EUR
$EUR $USDC
Moving #BNBEUR stop up to 515 #EUR with expanded flat #Elliottwave (azure labels) as the most immediate bullish path, but great RR either way for both aggressive long and short.
Look for 500 and 480 below if 515 breaks. #BNBAnalysis
Binance just announced that "Launchpool Supports DeFi BNB Assets in Binance Web3 Wallet" which should support $BNB future growth, so keep watching out for buy-the-dip chance in the weeks ahead but of course we're facing FED decision today with potentially extremly high volatility. #BNBToken
Look for 500 and 480 below if 515 breaks. #BNBAnalysis
Binance just announced that "Launchpool Supports DeFi BNB Assets in Binance Web3 Wallet" which should support $BNB future growth, so keep watching out for buy-the-dip chance in the weeks ahead but of course we're facing FED decision today with potentially extremly high volatility. #BNBToken
LIVEEuroChartCreator
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#BNBEUR holds 510 #EUR long stop and the correction off the 554.2 top is a clean ABC #Elliottwave so $BNB continues to look up to 560-570 i.e. to retest the lower half of the green channel as long as the last low holds. #BNBAnalysis
MiCA Regulation: Circle Exec Reveals How This EU Law Impacts Crypto Market
30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
Circle's Patrick Hensen reveals how the EU's MiCA regulation will transform the crypto market, predicting EUR stablecoin growth, and increased bank involvement.
Highlights
MiCA regulation to boost EUR stablecoin market cap fivefold in one to two years.
USDC is expected to become the dominant stablecoin in EU crypto capital markets.
Banks and financial institutions to enter the crypto space under a simplified MiCA notification process.
The EU’s Markets in Crypto-Assets Regulation (MiCA) regulation has gained notable traction lately, with several market watchers anticipating it to revolutionize the crypto landscape.
#MICA #EUR #Crypto #USDC #Bitcoin $USDC $DOGE
30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
Circle's Patrick Hensen reveals how the EU's MiCA regulation will transform the crypto market, predicting EUR stablecoin growth, and increased bank involvement.
Highlights
MiCA regulation to boost EUR stablecoin market cap fivefold in one to two years.
USDC is expected to become the dominant stablecoin in EU crypto capital markets.
Banks and financial institutions to enter the crypto space under a simplified MiCA notification process.
The EU’s Markets in Crypto-Assets Regulation (MiCA) regulation has gained notable traction lately, with several market watchers anticipating it to revolutionize the crypto landscape.
#MICA #EUR #Crypto #USDC #Bitcoin $USDC $DOGE
Hope you enjoyed the chop while #BTCEUR was completing a larger degree 5th #Elliottwave labeled in orange with a 64k #EUR top as of writing.
Now a highly speculative setup presents itself as per azure labels, though I personally am more confident with the orange interpretation, the RR in azure is insane with tight stop 59k slightly under the Nov.2021 top.
Either way, the action off the July low is constructive for a new ATH sooner than I previously expected in my $BTC 24Q2 review, as long as 52k holds. For reference, the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k.
So until breakout to new ATH, prudent longterm holders still need to be mentally prepared for a revisit under 50k: as per the 24Q2 review, even a drop into 45k can be very bullish with a 6-12 months outlook.
Now a highly speculative setup presents itself as per azure labels, though I personally am more confident with the orange interpretation, the RR in azure is insane with tight stop 59k slightly under the Nov.2021 top.
Either way, the action off the July low is constructive for a new ATH sooner than I previously expected in my $BTC 24Q2 review, as long as 52k holds. For reference, the 0.618 retracement of this July rally currently coincides with the Apr.2021 top around 54k.
So until breakout to new ATH, prudent longterm holders still need to be mentally prepared for a revisit under 50k: as per the 24Q2 review, even a drop into 45k can be very bullish with a 6-12 months outlook.
LIVEEuroChartCreator
--
#BTCEUR falls out of the green channel but action is a rather clean #Elliottwave ABC, expect topping probably in the lower half of the channel ~65k #EUR as long as the last low holds.
While a minor overshoot to a new ATH >67k is not impossible, again reminder we are around 2.618 extension & 0.764 retracement with limited immediate upside potential, hedged long is better than full long, and I believe a better chance to buy $BTC is going to present itself soon.
It was correct to have the aggressive long stopped out at 60k with profit, even though we're back above it. Stop for long position taken from the 1-2 low can be put at 59k.
While a minor overshoot to a new ATH >67k is not impossible, again reminder we are around 2.618 extension & 0.764 retracement with limited immediate upside potential, hedged long is better than full long, and I believe a better chance to buy $BTC is going to present itself soon.
It was correct to have the aggressive long stopped out at 60k with profit, even though we're back above it. Stop for long position taken from the 1-2 low can be put at 59k.
#BTCEUR falls out of the green channel but action is a rather clean #Elliottwave ABC, expect topping probably in the lower half of the channel ~65k #EUR as long as the last low holds.
While a minor overshoot to a new ATH >67k is not impossible, again reminder we are around 2.618 extension & 0.764 retracement with limited immediate upside potential, hedged long is better than full long, and I believe a better chance to buy $BTC is going to present itself soon.
It was correct to have the aggressive long stopped out at 60k with profit, even though we're back above it. Stop for long position taken from the 1-2 low can be put at 59k.
While a minor overshoot to a new ATH >67k is not impossible, again reminder we are around 2.618 extension & 0.764 retracement with limited immediate upside potential, hedged long is better than full long, and I believe a better chance to buy $BTC is going to present itself soon.
It was correct to have the aggressive long stopped out at 60k with profit, even though we're back above it. Stop for long position taken from the 1-2 low can be put at 59k.
LIVEEuroChartCreator
--
60k #EUR is now a reasonable stop for aggressive long as #BTCEUR is completing a 5th #Elliottwave of some degree.
We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH.
Expect more resistance for $BTC
We're now at the 2.618 extension off the July low coincides with the 0.764 retracement off the March ATH.
Expect more resistance for $BTC
#BNBEUR holds 510 #EUR long stop and the correction off the 554.2 top is a clean ABC #Elliottwave so $BNB continues to look up to 560-570 i.e. to retest the lower half of the green channel as long as the last low holds. #BNBAnalysis
LIVEEuroChartCreator
--
#BNBEUR chops sideways under the expected resistance above, while 5th #Elliottwave of some degree can be considered done, as long as the quoted 510 #EUR stop holds, more immediate upside around 570 can be seen. First support below around 480 if $BNB breaches stop. #BNBAnalysis
#BNBEUR chops sideways under the expected resistance above, while 5th #Elliottwave of some degree can be considered done, as long as the quoted 510 #EUR stop holds, more immediate upside around 570 can be seen. First support below around 480 if $BNB breaches stop. #BNBAnalysis
LIVEEuroChartCreator
--
The #Elliottwave diagonal green channel keeps working for #BNBEUR and long stop is now up to 510 #EUR
It was a good idea to move the aggressive short stop down to 535 as quoted below and that level now becomes support for short term bull.
Note that $BNB is likely approaching a temporary top as
1. negative divergence is building up on the hourly,
2. the angle of ascent is being flatten,
3. we're now just slightly below the 2021 double top and the March'24 ATH,
4. 557 is both 0.618 retracement off the June high and 1.618 extension off the July low.
Expect more resistance in the near term.
#BNBAnalysis
It was a good idea to move the aggressive short stop down to 535 as quoted below and that level now becomes support for short term bull.
Note that $BNB is likely approaching a temporary top as
1. negative divergence is building up on the hourly,
2. the angle of ascent is being flatten,
3. we're now just slightly below the 2021 double top and the March'24 ATH,
4. 557 is both 0.618 retracement off the June high and 1.618 extension off the July low.
Expect more resistance in the near term.
#BNBAnalysis
See original
May 15, 2024 @ 03:14 PM (UTC)
Current Price of Bitcoin
(BTC-USD): $64,560.10
(BTC-EUR): €59,424.67 #$BTC #EUR
Current Price of Bitcoin
(BTC-USD): $64,560.10
(BTC-EUR): €59,424.67 #$BTC #EUR
Binance Urges EUR Balances Conversion to USDT
In a surprising turn of events, Paysafe Payment Solutions Limited (Paysafe) recently announced the unilateral cessation of EUR deposit processing for Binance users. This unexpected decision has forced Binance to issue a series of advisories, urging Paysafe users to take specific actions before the looming October 31, 2023 deadline.
Converting EUR to USDT: A Recommended Step
To mitigate potential disruptions caused by Paysafe's decision, Binance has advised its users to contemplate converting their EUR balances within their Binance accounts to Tether USD (USDT) before the October 31 deadline. This proactive approach can help safeguard your assets amidst the uncertainty.
Continued EUR Withdrawals
Despite the disruptions, Binance assures its users that they can continue withdrawing their EUR balances from their Binance accounts to their respective bank accounts. This ongoing service allows users to manage their finances without significant hindrance.
Immediate Impact on EUR Transactions
Paysafe's discontinuation of EUR-related services has already left its mark on Binance operations. Binance users can no longer deposit EUR into their accounts, and as of September 28, 04:00 (UTC), buying and selling cryptocurrencies with EUR have been discontinued. Additionally, trading activities involving EUR spot trading pairs are no longer accessible, with open orders on these pairs canceled from 05:00 (UTC).
Implications for Trading Bot Services
The ripple effect of Paysafe's decision extends to Binance's trading bot services. Binance has announced the cessation of Spot Trading Bot services specifically for EUR/USDT and EUR/BUSD trading pairs, impacting users who rely on automated trading strategies. This development necessitates a reassessment of trading strategies for affected individuals.
Auto-Invest EUR Plans on Pause
Paysafe's disruption also affects Binance users with Auto-Invest EUR plans, as these services will experience a temporary pause. It's essential for users in this category to stay informed about when their services are set to resume and to adjust their investment strategies accordingly during this period.
In Summary
The unexpected decision by Paysafe to cease processing EUR deposits for Binance users has sent shockwaves through the cryptocurrency community. As Binance takes measures to address the disruptions, affected users should stay vigilant, consider the recommended actions, and adapt their strategies to navigate this challenging period. Paysafe's move serves as a reminder of the ever-evolving landscape of the cryptocurrency industry, where adaptability and preparedness are key to success.
#Paysafe #Binance #cryptocurrency #EUR #USDT $USDC $EUR
Converting EUR to USDT: A Recommended Step
To mitigate potential disruptions caused by Paysafe's decision, Binance has advised its users to contemplate converting their EUR balances within their Binance accounts to Tether USD (USDT) before the October 31 deadline. This proactive approach can help safeguard your assets amidst the uncertainty.
Continued EUR Withdrawals
Despite the disruptions, Binance assures its users that they can continue withdrawing their EUR balances from their Binance accounts to their respective bank accounts. This ongoing service allows users to manage their finances without significant hindrance.
Immediate Impact on EUR Transactions
Paysafe's discontinuation of EUR-related services has already left its mark on Binance operations. Binance users can no longer deposit EUR into their accounts, and as of September 28, 04:00 (UTC), buying and selling cryptocurrencies with EUR have been discontinued. Additionally, trading activities involving EUR spot trading pairs are no longer accessible, with open orders on these pairs canceled from 05:00 (UTC).
Implications for Trading Bot Services
The ripple effect of Paysafe's decision extends to Binance's trading bot services. Binance has announced the cessation of Spot Trading Bot services specifically for EUR/USDT and EUR/BUSD trading pairs, impacting users who rely on automated trading strategies. This development necessitates a reassessment of trading strategies for affected individuals.
Auto-Invest EUR Plans on Pause
Paysafe's disruption also affects Binance users with Auto-Invest EUR plans, as these services will experience a temporary pause. It's essential for users in this category to stay informed about when their services are set to resume and to adjust their investment strategies accordingly during this period.
In Summary
The unexpected decision by Paysafe to cease processing EUR deposits for Binance users has sent shockwaves through the cryptocurrency community. As Binance takes measures to address the disruptions, affected users should stay vigilant, consider the recommended actions, and adapt their strategies to navigate this challenging period. Paysafe's move serves as a reminder of the ever-evolving landscape of the cryptocurrency industry, where adaptability and preparedness are key to success.
#Paysafe #Binance #cryptocurrency #EUR #USDT $USDC $EUR
A series of central bank meetings are about to take place😄
Yesterday saw a quiet start to the week with Japan out on holidays, though it’s going to be a busy next few days with a full line up of central banking meetings ahead with the Fed / BOE / BOJ / SNB / Norges / Riksbank. For the 2nd day in a row, EUR continued to bounce from the lows on a Reuters report that the ECB is planning to start discussions on how to remove the multi-trillion pool of euro excess liquidity in the banking system, with a rise in the reserve requirements as a possible first move. This would be another significant action to reverse over a decade of QE purchases, tightening conditions on top of raising rates for a 10th consecutive time last week, as inflation remains stubbornly high in the eurozone.
#cryptocurrency #EUR #Centralbank #crypto #Eurozone
Yesterday saw a quiet start to the week with Japan out on holidays, though it’s going to be a busy next few days with a full line up of central banking meetings ahead with the Fed / BOE / BOJ / SNB / Norges / Riksbank. For the 2nd day in a row, EUR continued to bounce from the lows on a Reuters report that the ECB is planning to start discussions on how to remove the multi-trillion pool of euro excess liquidity in the banking system, with a rise in the reserve requirements as a possible first move. This would be another significant action to reverse over a decade of QE purchases, tightening conditions on top of raising rates for a 10th consecutive time last week, as inflation remains stubbornly high in the eurozone.
#cryptocurrency #EUR #Centralbank #crypto #Eurozone
LIVEEuroChartCreator
--
Bullish
#BNBEUR setup for the next few hours:
Taking a small $BNB long here against 622 #EUR as I can make a argument for 5 waves up #Elliottwave
Minimal target measured move to 639, max loss 0.90%.
Taking a small $BNB long here against 622 #EUR as I can make a argument for 5 waves up #Elliottwave
Minimal target measured move to 639, max loss 0.90%.
#BTCEUR hourly symmetrical triangle
$BTC has been trading in a very tight range lately, one can observe a symmetrical triangle on the hourly chart of #BTCEUR
For a very short term trade for the next few days, one can use 65k #EUR as stop for short and 62k as stop for long. Since the daily trend is up, breakout is biased to the upside. Additionally, the purple line is an extra signal to the downside.
The same pattern can be observed on the BTCAEUR chart. Unfortunately AEUR trading pairs are very tiny traded, so while there is zero trading fee, the slippage makes them very unreliable to trade on the shorter timeframes,
For a very short term trade for the next few days, one can use 65k #EUR as stop for short and 62k as stop for long. Since the daily trend is up, breakout is biased to the upside. Additionally, the purple line is an extra signal to the downside.
The same pattern can be observed on the BTCAEUR chart. Unfortunately AEUR trading pairs are very tiny traded, so while there is zero trading fee, the slippage makes them very unreliable to trade on the shorter timeframes,
BTCEUR keeps consolidating
Unlike BNB, #BTCEUR is still trading in a very tight range, with overlapping structure in every swing. The highlighted levels in prior post remain in place.
Until decisive breakout, both bull and bear should be cautioned for more whipsaw.
Longterm #BTC bull should not be shaken out by a potential revisit of the 50k #EUR level. 80k-90k is a conservative upside target
Until decisive breakout, both bull and bear should be cautioned for more whipsaw.
Longterm #BTC bull should not be shaken out by a potential revisit of the 50k #EUR level. 80k-90k is a conservative upside target
