📊 Osbrah's Daily Market Review
What are we watching today ?!
Welcome to our daily market review where we will delve into current market dynamics and prepare our plan for the day.
What are we watching today ?
Assets to Watch: We'll closely examine essential assets such as Bitcoin, SPX (S&P 500) and Ethereum.
Critical Levels: Identifying and analyzing key levels that are crucial for these assets.
Today's Economic News and Events: Bringing you the latest updates and economic events of the day that could impact the market and influence your trading.
🔎 Remember that all those informations are or have been shared and can be discussed live with us, and our community, which you can join here:
https://whop.com/marketplace/cryptorisegroup/
Assets to watch
Let’s focus on major assets, key levels and what could be the plans for today:
Bitcoin
As you can see in the above chart, BTC is currently trying to break 38 000 $ again. The most important level to watch here is around 38 500 $, as it’s major level of resistance and can possibly mark a local top.
The line is equal to 38 000 $ and it’s from CoinBase. You can definitely see easily that’s it’s a very important level to flip for continuation.
The plan is quite simple:
Break through the current 38 000 $ resistance and we can head towards 38 500$
Close below resistance, which is currently 38 000 on H1 (intraday) H4 and D (swings) timeframes and we can consider a short towards 36 500 $ then 35 000 $ area
Manage to break and flip 38 500 $ and we can consider a long towards 40 000 $
Ethereum
The chart here highlights our previous high currently being flipped. ETH is pretty easy to read today and the plan is as simple as ABC:
Retesting and having multiple confirmations of an S/R flip of the 2095 - 2100 previous high could trigger a long towards the highs (around 2150$)
Flipping the highs will lead towards 2300$
Failing to keep those levels and we could take a short opportunity to retest the below important levels (2030 - 2000 - 1984)
Also interesting to keep an eye on the ETH against BTC chart. We can see Ethereum is regaining some strength against the orange coin.
S&P500
Due to Thanksgiving and banks being closed, the end of the week will be quite slow for the SPX. Nonetheless, we had strong push the last few days and we are now trending above 4500 points.
The marks on the chart are giving the plan:
4515 can be the S/R flip to trigger a long towards 4600 then ATH
4600 is the next logical target of this bullish movement but also next resistance level that can lead to a short opportuinity
Economic Events
Today, our focus will be on the following events:
PMI Manufacturing and Services, released at 3:45 PM UTC+2
- Manufacturing current value and forecast: 50.0 - 49.9
- Services current value and forecast: 50.6 - 50.4
That’s it for today !
Remember that none of the above is financial advice and the sole purpose is to give you insights about the current market conditions.
Thanks for reading.
Osbrah
