BTC is seriously testing the $22k support level.! It briefly broke below but the buying pressure managed to recover the price above it. Looking at the daily and the weekly chart, the downtrend is clearly evident and we believe the breakout lower is a matter of time. Due to the fierce battle between buyers and sellers, we will readjust our entry target - a breakout below $21,8k to enter a short trade. This will act as an extra confirmation to confirm that the breakout is strong and tradable.
Let's kick the week off with Tesla, the company has cut prices(4% and 9%) on its two most expensive electric vehicles in the United States, days after Elon Musk said recent price cuts on other models have increased demand. "The desire for people to own a Tesla is extremely high. The limiting factor is their ability to pay for a Tesla," Musk said last week at Tesla's investor day. Let's not forget, Tesla slashed prices on its cars across all of its markets in January, offering discounts of up to 20% with many analysts seeing it as the start of a price war by the electric vehicle market leader.
Silvergate Bank, the US dollar banker to the crypto world, is having issues. The latest red flag: Silvergate is unable to file its 10-K annual report for 2022 on time, and it won't even be able to meet an extended March 16 deadline. Crypto giants like Coinbase already dropped Silvergate as their banking partner, and Bitcoin has fallen by more than 4% in a single day as a result of this latest crypto crisis. Go short below $22,250, or go long above $23k. The sentiment favors the bears.
Gold price is teasing a falling wedge formation on the daily chart, having opened above the falling trend line
resistance at $1,814. From a technical perspective, the daily candle must close above $1,814 for the pattern to be completed. If that's the case, we expect a bullish reversal and a potential buy trade towards the Friday's high at $1,828. On the downside, the support trend line of the falling wedge pattern is found at $1,789, below which you can enter a short trade. Don't forget the stop-loss and take- profit in both
scenarios!
Exciting news for one of our favorite AI stocks - Nvidia added 8.8% after reporting better than expected earnings per share in Q4 EPS- $0.88 versus $0.81 expected, while revenue was reported at $6.05 billion versus $6.01B expected. In addition, Nvidia forecasted Q1 2024 revenue of $6.5B ! versus $6.33B expected. We're seeing multiple analysts raising their long term price target from $200 to $270 and we're not surprised. There's tons of long term potential for Nvidia's generative AI solutions, and the company is leading the front in both hardware and software + it's making money, and that's what matters for shareholders.
Meta announced over the weekend that it's joining the social media subscription- service club, following in the footsteps of Twitter and Snapchat. The idea is to offer Facebook users perks like account verification, enhanced fraud protection, and greater visibility for a set fee, but this move also means perks for investors:
Subscriptions can secure a very reliable stream of cash, giving businesses the kind of predictability that often leads to increase buying pressure for the stock. With Meta still down 15% from past year, this could be real "buy and hold" scenario.
BTC saw the second consecutive rejection from $25k area in last 7 days. It's even clearer for us that the $25k ! wall is the next big milestone that buyers must break. As one analyst put it "If enough buyers can clear $25k there's little friction to $26k and thin air to $30k".
#btc
The weekend is almost here so let's explore some potential price targets for Bitcoin over the coming days. The price was rejected at $25k by massive selling pressure, and thus this now becomes the next major resistance level that must be broken for BTC to resume its uptrend. On the contrary, we saw significant buying pressure at $23,6k which held the price from falling. Short-selling becomes an option if the price falls below this immediate bottom. Everything in between is extremely volatile at the moment and we would not recommend trading such unpredictable price action.
If you're interested in electric vehicle stocks, you might want to consider BYD.! According to Charlie Munger, the 99-year old billionaire vice chairman of Berkshire Hathaway, BYD is his favourite stock ever. Munger praised BYD's growth and the fact that this relatively little known company is worth more than Mercedes.
When asked to choose between Tesla and BYD as an investment, Munger said BYD was the better choice, citing the company's success and ahead-of-the-game status in known company is worth more than Mercedes. When asked to choose between Tesla and BYD as an investment, Munger said BYD was the better choice, citing the company's success and ahead-of-the-game status in the Chinese market. The data also seems to back up Munger's opinion. While Tesla had to lower prices, BYD has been raising and profiting without trouble.
#stockmarket
Why they delete all your Videos. Shame on yt!
got interesting news from world's greatest investor Warren Buffett... His conglomerate Berkshire Hathaway Inc just slashed its stake in Taiwanese contract chipmaker TSMC by 86.2%, just three months after it bought more than $4.1 billion worth of TSMC stock. Berkshire bought it for roughly $68.5 and sold for $74.5, which means that even the biggest funds in the world are comfortable with making a small profit, and exiting their trades quickly.
#tsmc
#WarrenBuffet
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Every time you get upset about something, ask yourself, "If I were to die tomorrow, was it worth wasting my time on anger?
