ONLINE FOREX BROKER
2019-11-11 • Updated
The price dynamics in Bitcoin has been erratic in the last hours despite the gains we have seen above the support level of 8241, in the middle of the NY Blockchain week. This upward trend is being limited by the Fibonacci expansion of 61.85% in 8612, which coincides with the 200-hour moving average.
The Consensus 2018 event hosted by Coindesk has helped to support the cryptocurrency this week, limiting short-term losses. In the Middle East, it has been reported that a Bitcoin exchange in Dubai has blocked the withdrawals due to a "banking problem", while the BitMEX chief has predicted that the price of the BTC could impact the $ 50,000 this year.
For now, the Parabolic SAR seems to be supporting the bearish bias and the 200-hour moving average continues to guide the cryptocurrency path. Keep in mind that the level of 8322 is a zone of Fibonacci extension of a cycle initiated during May 5, which ended on the day of May 9.
What do we expect?
According to our forecasts in the short-term, Bitcoin is preparing for a decisive breakout in the next few hours, given the context in which the movements are taking place. In case we see a consolidation above the 200-hour moving average, the BTC should then rally to the resistance level of 9234, while a break of 8741 would clear the way to reach the 7997 level.
The Netflix stock (NFLX), with a market cap of $145.17B and a whooping 10 000+% rise since its inception 16 years ago, experienced some turbulence for a short period last year while trading around the $250 share price. However, the NFLX stock quickly recovered and rose to over $300 towards the end of the previous quarter of 2022.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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