MARKET ANALYSIS & CURRENT DEVELOPMENTS:

  • PayPal is LIVE. According to PayPal’s announcement, crypto trading has gone live in USA. Eligible US users can now BUY, SELL & HODL cryptocurrency directly using PayPal.
  • According to MicroStrategy CEO, Michael Saylor, Bitcoin will end up cannibalizing Gold in the long run.  
  • Bitcoin price above $16,000 for the first time in 3 Years and has just crossed its 40 Month high.
  • Ray Dalio, founder of the world’s largest hedge fund Bridgwater Associates, believes that nations will outlaw Bitcoin if the price of the asset keeps on rising.  
  • PlanB, the creator of stock-to-flow model, is confident that Bitcoin is on track to break the $100,000 mark by end of  Q4 2021.  
  • In a recent statement given by KuCoin founder Johnny Lyu, KuCoin has recovered 84% of stolen crypto after the $280 Million hack on the exchange in early October.
  • Lebanon Central Bank has reached an agreement to launch its own Digital currency and start a parallel economy.  
  • The United States of America voted in a new President last week. One of the key objectives of the council led by President-Elect Joe Biden is to define the future of Crypto Currency. It’s worth noting that many of the policy makers touted to be in Biden’s cabinet are in favour of the currency.  
  • Bank of Canada governor stated that the Digital Dollar programme is a success and has moved to advanced testing phase.  
  • Legendary Hedge Fund Manager Stanley Druckenmiller has become the latest Billionaire to embrace Bitcoin. In his latest statement he mentioned that Gold did good but Bitcoin will do better.  
  • JP Morgan and other peers now prefer Bitcoin over Gold and have been rapidly buying Bitcoin in the past couples of months as seen in their latest filling even though the asset appreciated more that 300% this year alone. 
  • According to Glassnode, 97% of all the wallet addresses are in profit as bitcoin continues to rise and outperform other assets.

Historical Performance and What to Trade for this Week!!

1. BTC Weekly Trade Ideas (Historical Performance Check & Projections)

Support at $12,800 And Resistance at $13,800 (Historical predicted on 31st October)

How It went – BTC Weekly Trade Ideas (Historical Prediction) – Breakout caught by our AI base Indicator with an Upside of 25%. (In 2 Weeks)

Trade for the Future: 16th Nov to 30th Nov 2020  

  • Support at $16,200- If this level is broken with large volumes then SELL from $16,200 with a potential 10% profit till the level of $14,400-$14,200.
  • If the Levels of $16,200 is held, then BUY at $16,200 with a potential upside till $17,850 producing an approx. 7% gain.
  • If the resistance at $16,550 is broken with large volume then BUY and have a take profit at levels of $18,000- potential profit of 12%.
  • If the resistance is not broken then SELL at $16,550 and hold till $14,850 for a potential 7% profit.

 

Key conditions to look at:

  • The support and resistance levels should be broken with large volumes (Keep Volume Indicator active)
  • The 1 Hour Candle should close below the Support or above the resistance to give confirmation that the level has been broken.
  • Use a minimum 1-Hour chart to make a trade and analyse the movement.

2. ETH Weekly Trade Ideas (Historical Performance Check & Projections)

Support at $380 And Resistance at $396 (Historical predicted on 31st October)

How It went –  ETH Weekly Trade Ideas (Historical Prediction) – Breakout caught by our AI base Indicator with an Upside of 25%.

Trade for the Future: 16th Nov to 30th Nov 2020

  • Support at $450- If this level is broken with large volumes then SELL from $450 with a potential 10% profit till the level of $410-$406.
  • If the Levels of $450 is held, then BUY at $450 with a potential upside to $510 producing an approx. 10% gain.
  • If the resistance at $470 is broken with large volume then BUY and have a take profit at levels of $540- potential profit of 20%.
  • If the resistance is not broken then SELL at $470 and hold till $410 for a potential 20% profit.

 

Key conditions to look at:

  • The support and resistance levels should be broken with large volumes (Keep volume indicator active).
  • The 1 Hour Candle should close below the Support or above the Resistance to give confirmation that the level has been broken.
  • Use a minimum 1-Hour chart to make a trade and analyse the movement.

3. S&P 500 Weekly Trade Ideas (Historical Performance Check & Projections)

Resistance at $3,340 And Support at $3,227 (Historical predicted on 31st October)

How it Performed – 7% Upside predicted by our AI Indicator for the Stock Market (In two Weeks)

Trade for the Future: 16th Oct to 30th Nov 2020

  • If the resistance at $3,640 is broken with large volume then BUY and have take-profit position at levels of $3,740- potential profit of 2%-3%.
  • If the Levels of $3,640 is not broken then SELL at $3,640 with a potential upside to $3,427 making it approx. 3-4% gain.
  • If the Support at $3,536 is broken then size up the SELL position even more until the index consolidates at $3,100 making it a potential 7-8% gain from the short at $3,536.

 

Key conditions to look at:

  • The support and resistance levels should be broken with large volumes (Keep volume indicator active).
  • The 1 Hour Candle should close below the Support or above the Resistance to give confirmation that the level has been broken.
  • Use a minimum 1-Hour chart to make a trade and analyze the movement.

4. Gold Weekly Trade Ideas (Historical Performance Check& Projections)

Support at $1,848 And Resistance at $1,930 (Historical predicted on 3rd October)

How it Performed – Still in Consolidation Zone

 Trade for the Future: 16th Nov to 30th Nov 2020

  1. If the Support at $1,850 is broken then size up the SELL position until the index consolidates till $1,750 making it a potential 10-12% gain from the short at $1,930.
  2. If the resistance at $1,930 is broken with large volume then BUY and have a take profit at levels of $1,980- potential profit of2%-3%.
  3. If the Levels of $1,930 is not broken then SELL at $1,930 with a potential upside to $1,850 making approx. 5% in profits.

WRITTEN BY

Devnsh Khullar | Co-Founder, AiNALYTIX

Using the power of Artificial Intelligence and Quantum computing, AiNALYTIX (AiX) is able to provide various indicators and instruments, including their proprietary the Alpha Signal Generator (ASG), to generate a significant edge in the Cryptocurrency and Stock markets. 

WRITTEN BY

Devnsh Khullar | Co-Founder, AiNALYTIX

Using the power of Artificial Intelligence and Quantum computing, AiNALYTIX (AiX) is able to provide various indicators and instruments, including their proprietary the Alpha Signal Generator (ASG), to generate a significant edge in the Cryptocurrency and Stock markets. 

CONTINUE YOUR LEARNING

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