Trade Level to Level - Thank me Later!

December 12, 2022

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Okay. Let's dig in!

Last week's whipsaw in the market came as no surprise. We were ready! The S&P 500 had an extended losing streak, as investors griped over the Fed rate hikes and further talks of a looming recession. Most of the volatility occurred towards the end of the week, with the higher-than-forecasted PPI data.

On the crypto side, Bitcoin (BTC) appears to be setting up for a possible expansion. BTC's price range tightening confirms that traders are playing it safe before the Fed's decision. If the price opens above $17,622, expect the bulls to dominate (not without a bearish defense though). If the price opens below $16,678, expect the bears to take control. In the meantime, do not sleep on XMR, TON, and AXS. These altcoins have been trending up steadily in this current bear cycle.

Other key highlights from last week:

  • Bad news does not shake Bitcoin investors' belief in the asset

  • Steve Aoki x 3LAU Form Cryptopunk DJ Supergroup

  • Starbucks launched their Web3 rewards platform on Polygon

  • S&P posts 4th straight decline

Tension between inflation and recession rules next week:

The week ahead is filled with high-impact economic releases, particularly in the US. There is the CPI release on Tuesday, followed by the much-anticipated Fed Interest Rate Decision on Wednesday, then the Initial Jobless Claims and Retail Sales on Thursday. Will we see a 50-basis-point rate hike?

  • Monday (12/12/22) - Monday before expiration

  • Tuesday (12/13/22) - Expect positive crypto news

  • Wednesday (12/14/22) - Trade with caution

  • Thursday (12/15/22) - Pay yourself

  • Friday (12/16/22) - Triple Witching - preserve capital

Volume and price should be your focus!

December Week 12/04 - 12/10 Recap

Analysis of exchange flows reveals the tendency for Bitcoiners to batten down even during downside events.

Music NFT masterminds Steve Aoki and Justin "3Lau" Blau have joined hands to form "PUNX" supergroup inspired by each other's CryptoPunk NFTs!

In September, Starbucks announced it has partnered with Polygon to build its Starbucks Odyssey Web3-powered experience. The beta is now live.

S&P posts 4th straight decline as recession talk weighs on Wall Street

Crypto Special Delivery

We should all have Stellar (XLM) on our watchlist!  

Here are some things you need to know:

  • Stellar is an open network for storing and moving money. The network makes it possible to create, send, and trade digital representations of money – pretty much anything, dollars, pesos, and bitcoin. 

  • IBM has partnered with Stellar. IBM launched World Wire – a real-time global system built on the Stellar network. World Wire’s goal is to replace the current banking system with simple, point-to-point transactions. World Wire plans to support 47 currencies in 72 countries to start.

  • Stellar is an ISO 20022-compliant cryptocurrency. The ISO 20022 protocol is a standard for electronic data interchange between financial services in the payment industry. Stellar complied with ISO 20022 very fast because it was developed to make global transactions more accessible. 

  • Stellar Network enables MoneyGram’s bankless payment method. MoneyGram International, the world’s biggest money transfer company, formed a partnership with Stellar Development Foundation after dissolving its connection with Ripple after the SEC lawsuit against Ripple’s leaders. 

Stellar (XLM) Technical Analysis and Price Prediction:

According to the XLM Price chart below, XLM has been moving sideways for the past month, hitting a key resistance level at around $0.13. The point of control (POC)is around $0.11. This is where most of the buying is taking place. Analysts have predicted that XLM has a high probability of touching new highs in the future.  

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Disclaimer: The information provided in this report does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the report’s content as such.