ONLINE FOREX BROKER
2019-11-11 • Updated
The Bitcoin has resumed the bearish bias in the short term and now is heading to touch the double bottom that formed around the Fibonacci level of 61.8% in 8041. This could well be the indicator that cryptocurrency could form a triple bottom pattern, due to the buyer interest in the area mentioned above.
The latest news about crypto space comes from Thailand, where it was announced that the cabinet approved two royal decree drafts that aspire to regulate cryptocurrency and that these may be taxable. On the other hand, it was announced that Google will ban advertising on ICO and cryptos on its Google Ads platform.
It is perhaps this latest news that has dominated the price action during the session of March 14, adding uncertainty about the acceptance of cryptos globally. The Parabolic SAR also continues to exert pressure on the BTC/USD pair in the H1 chart, while the MACD indicator remains in negative territory.
What do we expect?
According to our forecasts in the H1 chart, if the Bitcoin reaches a break with a big candlestick below the Fibonacci level of 65% in 7856, we could see a wave of selling orders that push the cryptocurrency to touch the Fibonacci level. 78.6% in 7068, opening the doors to go to the level of 6000. On the upside, if the BTC makes a rebound and finds demand in the current zone, this movement could extend to 10252.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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.
In today's article, we will be performing an interesting analytical experiment - Correlation! To start, I have chosen a few indices that we will be observing. It's just like we're analyzing...
I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
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