PangeranDangdut
@pangeran
Bitcoin Forms 'Three Blind Mice' Pattern, Potential Downtrend Ahead
According to Cointelegraph, veteran trader Peter Brandt has observed that Bitcoin is forming a 'three blind mice' pattern, which some interpret as a sign that the asset could decline in the coming days. In an Oct. 2 post on X, Brandt informed his 740,000 followers about this pattern, referring to it as the 'infamous Three Blind Mice and a Piece of Cheese' trading pattern.
Technical analysis data from trading platform Morpher suggests that the 'three blind mice' pattern is typically seen as a 'continuation' pattern, indicating that the future price action will follow the direction of the 'three blind mice.' Brandt previously mentioned this pattern on Dec. 17, 2022, when Bitcoin was trading around $17,000 and subsequently entered a weeks-long slump before sharply breaking out to the upside in January 2023.
In an earlier Oct. 2 post on X, Brandt warned traders that Bitcoin's recent rally did not 'disturb the 7-month sequence of lower high… 0 reply
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Wall Street Investors Shift Focus to Financial and Tech Stocks Following Fed Rate Cut
As the Fed cuts rates, investors are shifting their focus to financial and tech stocks, predicting strong growth in these sectors despite historical underperformance in rate cut cycles.
According to Bloomberg, Wall Street investors are navigating new market dynamics following the Federal Reserve's decision to cut interest rates. Traditionally, rate cuts have prompted investors to gravitate towards defensive sectors such as consumer goods, healthcare, and high-dividend industries like utilities. However, this time, financial stocks have emerged as a new favorite due to reduced financing costs and improved net interest margins.
Historical data reveals that utility stocks have typically outperformed during previous rate cut cycles, while technology stocks have lagged behind. Yet, with the S&P 500 historically rising by an average of 21% post-rate cuts, investors are now turning back to large-cap technology, media, and tele… 0 reply
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Ethereum Predicted To Surge To $10,000 In Current Cycle
According to BlockBeats, on September 22, Mike Alfred, founder of the crypto wealth management company Eaglebrook Advisors, shared his insights on X regarding the potential rise of Ethereum. Alfred stated that while Bitcoin maximalists might dismiss the notion, Ethereum could see its price increase from $2,500 to $10,000 in this cycle.
Alfred explained that this prediction aligns with the nature of liquidity cycles. He emphasized that regardless of attempts to counter, argue, or complain about it, the upward trend is inevitable. 'Everything is going up,' he remarked, highlighting the broader market movements. 0 reply
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