Crypto Currencies Long Term Report – 12 Mar 2024

The monthly outlook on the cryptocurrency market. Note: We are repeating the month- end, longer term report from last week. The daily and short -term analysis adds little value during a runaway trend with little subdivisions, while the bigger picture does give some insights. PS- Our fundamental views on these markets has been completely wrong (up to now). Thankful for trend following technical analysis.
[pmb_print_buttons]

USD UPDATE: EUR/USD (Daily)

VIEW RETAINED: ABC BULL PHASE TO RA2*

|

Level: 1.0936

USD UPDATE: USD INDEX (Daily)

VIEW RETAINED: DOWNSIDE OFF R0* TO S2 AND Q*

|

Level: 102.81

USD UPDATE: USD INDEX (5 Hour)

VIEW RETAINED: SHORT TERM DETAIL

|

Level: 102.81

This report is for informational purposes only, does not constitute an offer, or solicitation to trade and should not be construed as a recommendation, or advice, to enter into, or to refrain from entering into, any transaction.

Whilst the information herein contained is believed to be reliable, no responsibility is assumed by Hite Investments and Consulting, (Pty) Ltd., their employees, associates, external contributors, or any of the references used, for any errors, or omissions, or for losses of any nature which may arise from any opinion expressed herein.

You are cautioned that information is not necessarily complete and that opinions of individuals employed at the above may differ, or be based on contrary analysis techniques andthat opinions may change over time.

The losses in trading and investing can be substantial and you should not engage in such trading and investing unlessyou fully understand all the potential risks.

The views expressed in this report may change over time and updated reports will not necessarily be issued should this occur.

Red Line: “Roadmap” – A visual representation of proba-ble future price action. A perforated red line suggest various proba-ble outcomes with the perforated line being

Blue Line: Trend Lines that constitute important sup-port / resistance or break levels

TA – Target area
MA – Moving average
R – Resistance
RA – Resistance area
MR – Minor Resistance
MS – Minor Support
MTR – Medium Term Resistance
MTS – Medium Term Support
SA – Support Area
S – Support
T – Target
* or ** – Significance of level

The intention of this analysis is to give the reader a visual picture of the most probable price path that could develop over time. This is enhanced by adding crucial levels where the proposed view becomes dubious and needs to be re-assessed (or confirmed). The benefit of this approach is that of an easy to understand and almost instantaneous grasp of the analysts view. This kind of analysis is not intended to be exact in predicting levels, and especially timing of moves, but to give a more general probability view that is easily understandable and unambiguous. The proposed “roadmap” gets adjusted over time as new price information becomes available. All technical views have re-assessment or negation levels where the proposed preference is no longer valid or needs to be re-assessed.