#Bitcoin #Brent It’s that time again, when numerous analysts will write sagely about Bitcoin, announcing it’s obviously going to hitherto unforeseen levels and has become the currency of choice worldwide. Or at, in a small part of El Salvador. The president of El Salvador has been enthusiastically buying Bitcoin since 2021 using public money, spending nearly £100 million on Bitcoin and now, as he starts to campaign for his next election, is able to announce his investment has finally moved into profit. When compared with the despotic regime of Nicola Sturgeon in Scotland, the blokes strategy made some sense. The best she seemed to come up with was buying a top end camper van, one which was confiscated by the police!
Excitement over Bitcoin should necessarily be tempered with a doze of reality, thanks to the price finally regaining the level at which it was at in April 2022. Investors at that level saw the value drop by 2/3rd, eventually bottoming (hopefully) at the $15000 level. Of course, now it will be the case folk are suggesting “It needed to go down a lot, so it can go even higher!”, this statement usually proving the final kiss of death for UK AIM shares just before they get delisted.
However, we shall be generous as Bitcoin could easily have collapsed during the reversal cycle from 2020, especially as it spent an indecent amount of time trading in a zone which calculated with an eventual “ultimate bottom” down at the 1200 dollar level. The fact it choice to bounce, almost exactly half way to the ultimate drop target gives considerable hope, suggesting the market actually has some real confidence for the longer term. As for why Bitcoin and Gold are currently surging, it’s difficult to pin down any single reason as so much else feels like it’s living a life of uncertainty. Perhaps it shall be the case the hiatus with interest rates shall somehow be credited with confidence in crypto and Gold, perhaps it’s enthusiasm we shall not need sit through any more boring Grand Prix races for a while…
The situation for Bitcoin near term is quite positive as we can calculate movement next above 45000 dollars should provoke a lift to an initial $47422. Of greater interest is our longer term secondary, calculating at a presumably distant $61425, slightly lower than the highs of 2021 but crucially taking the value into territory where a long term calculation gives a future $77100 as exerting influence, along with a new all time high. And doubtless giving el-president in El Salvador sufficient excuse to get seriously drunk, perhaps even choosing to buy a motor home.
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 9:07:04PM | BRENT | 7419.2 | 7416 | 7346 | 6974 | 7747 | 7758 | 7898 | 8059 | 7492 | ‘cess |
| 9:11:34PM | GOLD | 2026.32 | |||||||||
| 9:14:08PM | FTSE | 7494.5 | Success | ||||||||
| 9:17:45PM | STOX50 | 4468 | |||||||||
| 9:20:57PM | GERMANY | 16624 | ‘cess | ||||||||
| 9:24:49PM | US500 | 4548.5 | Success | ||||||||
| 9:28:04PM | DOW | 36049 | Success | ||||||||
| 9:32:10PM | NASDAQ | 15786.2 | Success | ||||||||
| 9:36:37PM | JAPAN | 33162 | 33143 | 32980 | 32817 | 33222 | 33335 | 33380 | 33459 | 33219 |
6/12/2023 FTSE Closed at 7515 points. Change of 0.35%. Total value traded through LSE was: £ 8,742,933,283 a change of 113.36%
5/12/2023 FTSE Closed at 7489 points. Change of -0.31%. Total value traded through LSE was: £ 4,097,792,180 a change of -8.47%
4/12/2023 FTSE Closed at 7512 points. Change of -0.23%. Total value traded through LSE was: £ 4,476,825,041 a change of -0.54%
1/12/2023 FTSE Closed at 7529 points. Change of 1.02%. Total value traded through LSE was: £ 4,501,021,882 a change of -55.19%
30/11/2023 FTSE Closed at 7453 points. Change of 0.4%. Total value traded through LSE was: £ 10,044,675,963 a change of 155.31%
29/11/2023 FTSE Closed at 7423 points. Change of -0.43%. Total value traded through LSE was: £ 3,934,274,294 a change of -13.77%
28/11/2023 FTSE Closed at 7455 points. Change of -0.07%. Total value traded through LSE was: £ 4,562,527,303 a change of 31.7%
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:BDEV Barrett Devs** **LSE:BME B & M** **LSE:BT.A British Telecom** **LSE:CASP Caspian** **LSE:CCL Carnival** **LSE:EZJ EasyJet** **LSE:HIK Hikma** **LSE:IHG Intercontinental Hotels Group** **LSE:MMAG Music Magpie** **LSE:NG. National Glib** **LSE:OCDO Ocado Plc** **LSE:QED Quadrise** **LSE:TSCO Tesco** **LSE:TW. Taylor Wimpey** **
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Updated charts published on : Barrett Devs, B & M, British Telecom, Caspian, Carnival, EasyJet, Hikma, Intercontinental Hotels Group, Music Magpie, National Glib, Ocado Plc, Quadrise, Tesco, Taylor Wimpey,
LSE:BDEV Barrett Devs. Close Mid-Price: 531.8 Percentage Change: + 1.10% Day High: 532.6 Day Low: 522.2
All Barrett Devs needs are mid-price trades ABOVE 532.6 to improve accele ……..
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View Previous Barrett Devs & Big Picture ***
LSE:BME B & M. Close Mid-Price: 612.4 Percentage Change: + 1.59% Day High: 616.8 Day Low: 602.8
Target met. Continued trades against BME with a mid-price ABOVE 616.8 sho ……..
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View Previous B & M & Big Picture ***
LSE:BT.A British Telecom. Close Mid-Price: 136.65 Percentage Change: + 4.91% Day High: 136.85 Day Low: 130.8
Target met. All British Telecom needs are mid-price trades ABOVE 136.85 t ……..
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View Previous British Telecom & Big Picture ***
LSE:CASP Caspian Close Mid-Price: 2.75 Percentage Change: -3.51% Day High: 2.85 Day Low: 2.75
In the event Caspian experiences weakness below 2.75 it calculates with a ……..
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View Previous Caspian & Big Picture ***
LSE:CCL Carnival. Close Mid-Price: 1236 Percentage Change: + 6.00% Day High: 1241 Day Low: 1164
Target met. In the event of Carnival enjoying further trades beyond 1241, ……..
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View Previous Carnival & Big Picture ***
LSE:EZJ EasyJet. Close Mid-Price: 482.9 Percentage Change: + 3.03% Day High: 483 Day Low: 472.5
Further movement against EasyJet ABOVE 483 should improve acceleration to ……..
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View Previous EasyJet & Big Picture ***
LSE:HIK Hikma. Close Mid-Price: 1803 Percentage Change: + 0.22% Day High: 1811 Day Low: 1790.5
All Hikma needs are mid-price trades ABOVE 1811 to improve acceleration t ……..
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View Previous Hikma & Big Picture ***
LSE:IHG Intercontinental Hotels Group. Close Mid-Price: 6440 Percentage Change: + 1.45% Day High: 6460 Day Low: 6364
Target met. Further movement against Intercontinental Hotels Group ABOVE ……..
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View Previous Intercontinental Hotels Group & Big Picture ***
LSE:MMAG Music Magpie Close Mid-Price: 12.5 Percentage Change: -3.85% Day High: 13 Day Low: 12.5
Weakness on Music Magpie below 12.5 will invariably lead to 12p next with ……..
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View Previous Music Magpie & Big Picture ***
LSE:NG. National Glib. Close Mid-Price: 1051.5 Percentage Change: + 1.59% Day High: 1053.5 Day Low: 1036.5
All National Glib needs are mid-price trades ABOVE 1053.5 to improve acce ……..
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View Previous National Glib & Big Picture ***
LSE:OCDO Ocado Plc. Close Mid-Price: 612.2 Percentage Change: + 2.37% Day High: 635 Day Low: 596.4
Continued trades against OCDO with a mid-price ABOVE 635 should improve t ……..
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View Previous Ocado Plc & Big Picture ***
LSE:QED Quadrise. Close Mid-Price: 2.9 Percentage Change: + 19.83% Day High: 3.3 Day Low: 2.5
Further movement against Quadrise ABOVE 3.3 should improve acceleration t ……..
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View Previous Quadrise & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 286.7 Percentage Change: + 0.92% Day High: 287 Day Low: 285.4
Continued trades against TSCO with a mid-price ABOVE 287 should improve t ……..
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View Previous Tesco & Big Picture ***
LSE:TW. Taylor Wimpey. Close Mid-Price: 134.65 Percentage Change: + 1.39% Day High: 135.35 Day Low: 132.75
Continued trades against TW. with a mid-price ABOVE 135.35 should improve ……..
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View Previous Taylor Wimpey & Big Picture ***