ADM-201 dumps 70-533 answer analysis 70-347 study material 400-051 exam kit

The NYSE Bitcoin Index (.NYXBT) price could sky rocket if approved for an application for a bitcoin ETF

The NYSE Index (.NYXBT) price could sky rocket if approved for an application for a ETF

The price of bitcoin reached over $8,400 on Wednesday, despite a decision by the US Securities and Exchange Commission (SEC) to delay its ruling on a major bitcoin ruling.

The decision relates to an application for a bitcoin ETF (exchange traded fund), which blockchain platform SolidX requested through the Chicago Board of Exchange.

Analysts predict bitcoin’s price could sky rocket if approved, citing the introduction of a gold ETF 15 years ago that saw the commodities value shoot up by 300 per cent.

Bitcoin’s volume was $3 billion last week. As of July 24, it is $6.8 billion. Total cryptocurrency market volume is nearly $20 billion. Positive stuff.

Overall, the bias in prices is: Upwards.

Note: this shows extraordinary price action to the upside.

The projected upper bound is: 8,892.77.

The projected lower bound is: 7,239.97.

The projected closing price is: 8,066.37.

Candlesticks

WARNING: These prices only contain closing prices. Thus, the candlestick analysis in this expert will be invalid (including the alerts, symbols, and this commentary). To detach this expert, right-click on the NYSE BitcoinIndx , choose Expert Advisor, and then choose Detach.

During the past 10 bars, there have been 1 white candles and 0 black candles for a net of 1 white candles. During the past 50 bars, there have been 2 white candles and 0 black candles for a net of 2 white candles.

A falling window occurred (where the bottom of the previous shadow is above the top of the current shadow). This usually implies a continuation of a bearish trend. There have been 26 falling windows in the last 50 candles–this makes the current falling window even more bearish.

A gravestone doji occurred. This often signifies a top (the longer the upper shadow, the more bearish the signal).

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 95.6148. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a buy 7 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 68.82. This is not a topping or bottoming area. However, the RSI just crossed below 70 from a topping formation. This is a bearish sign. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 0 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 118.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 17 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 17 period(s) ago.

Rex Takasugi – TD Profile

NYSE BitcoinIndx closed down -112.286 at 8,071.025. Volume was -0% below average (neutral) and Bollinger Bands were 2% wider than normal.

Open High Low Close Volume___
8,071.0258,071.0258,071.0258,071.025 0

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bearish

Moving Averages: 10-period 50-period 200-period
Close: 7,206.18 7,027.68 9,239.45
Volatility: 67 76 124
Volume: 0 0 0

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

NYSE BitcoinIndx gapped down today (bearish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist – Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
NYSE BitcoinIndx is currently 12.6% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect very strong flows of volume into .NYXBT (bullish). Our trend forecasting oscillators are currently bullish on .NYXBT and have had this outlook for the last 13 periods.