Online Forex broker
The crypto space has been dominated by a bearish price action, where bears have led Bitcoin to try new multi-day lows across the board. According to our Fibonacci projections, cryptocurrency has touched the Fibo level of 78.6% in 8916, where for the moment we can see that there is buying reaction in the short term.
The next obstacle to face is found in the Parabolic SAR, which is facing additional selling pressure, which could lead the BTC to try new lows. The support level of 8729 is shown as a pivotal point of importance, where the next step of Bitcoin could be decided for the short and medium term.
What do we expect?
According to our forecasts in the H1 chart, Bitcoin could find support at the level of 8916, where we expect a rebound to occur allowing a new break and a rebound to new heights. To achieve this, the BTC/USD pair should break above the highs of May 5 to then go towards the Fibonacci level of -23.6% in 10114. However, a break below the low of May 1 would clear the way to go towards the psychological level of 8000.
AUD/USD has been trading in a rebound made from the 200 SMA at H1 chart, which is helping to strengthen the bullish bias across the board and put the pair in the scenario to reach the Fibonacci zone of -23…
Thursday was also a day where bears dominated the price action in the cryptocurrency and now it seems that the spotlights are pointing towards the Fibonacci level of 78…
CAD/CHF broke support area Next sell target 0…
Narrow bearish Ichimoku Cloud, horizontal Senkou Span A and B; a new weak golden cross of Tenkan-sen and Kijun-sen; the prices are three way bounced from the SSB’s resistance.
Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…
The European Central Banks left its key interest rates…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
