A1 Trading Company

February 4, 2022

We're About To See A Big Move On BTC

Frank Cabibi

Mixed jobs data in the US has caused major uncertainty in the stock market which could be beneficial to BTC (Bitcoin) overall. BTC/USD is up nearly 8% on the day at the time of writing this, while the SPX500 is down a little over 1%.

Mixed Market Data

Although NFP showed us an additional 467K jobs this month, we still saw a rise in the unemployment rate. This caused some uncertainty in the equities markets as well as a spike in crypto. This uncertainty has driven investors away from riskier bets on Wall Street due to high levels of volatility.

BTC
US NFP from the past 7 months

A mixed earnings season has also caused investors to worry as major tech stocks miss but still see incredible upside in after-hours trading. Amazon got downgraded and missed earnings, but the stock saw over a 10% spike in price during post market.

The recent tech rally could be helping bitcoin's price as well since the majority of them use or plan to use crypto in their business model over time. There is a chance that this rally could fade due to the fact that there was an unjust surge in tech stocks coupled with mounting USD demand. However, when crypto catches momentum, it rides that wave for a while and for a long time. So, this spike could be the beginning of a larger rally to come.

BTC/USD

BTC
BTCUSD spiked today on a US jobs number miss and is now testing a significant resistance level around $39,700s. If we see a break above, the next stop could be at the 50 DMA. The death cross at the beginning of the year is still concerning, but we could be seeing a momentum shift in the short term.

Breaking the $40K mark was a significant step for the crypto, although it is still uncertain how much farther the coin will rise. I think the momentum going into today's session is a good sign that we could see a couple more like this at least. One key indicator to look for is if BTC can close in the $40,000s to prove that it has broken resistance.

A1 Edgefinder

All-In-One Fundamental Dashboard!
Simplify your fundamental analysis with our all-in-one fundamental dashboard! 
Discount code: READER

Learn more

My Crazy Trade On Gold: Up $8000

Hey Traders! This week has been wild for Gold! Thanks to insights from the EdgeFinder, I've been in a trade on XAUUSD since May 3rd. Initially, I jumped in due to weak jobs and PMI data, sticky inflation, and solid support/market structure. Here’s a quick look at my gold trade: Entry Recap: On May 13th, […]

Read More
Is Gold the Buy of 2024?

Rates move lower after the BoE announced their latest monetary policy report to keep rates unchanged at 5.25%. Unemployment came in higher this morning with the 30-year bond auction coming up Thursday afternoon. In the midst of a slow news week in the US, gold is sitting at a very favorable position according to the […]

Read More
Yields Fall Ahead of Earnings

More earnings reports come out this week is causing an inflow of buyers in the equities market while yields begin the week on a decline. Last week's Fed meeting showed up as "less hawkish" than investors expected causing risk appetite to increase at the start of the summer months. EdgeFinder Analysis As we come off […]

Read More
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here
Home
Edgefinder
Signals
There is a significant degree of risk involved in trading securities. With respect to foreign exchange trading, there is considerable risk exposure, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.
homesmartphonelaptop-phonemenucross-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram