ONLINE FOREX BROKER
2019-11-11 • Updated
It seems that we were in front of a scenario where calm prevails before the storm and Bitcoin still does not show clear signs that help to define the trend in the short and medium term. What is certain is that the lows of April 26 continue to offer a solid support across the board and where the bulls are gaining momentum.
Keep in mind that on the upward path, the cryptocurrency would have to do a resistance level of 9759 fracture to confirm the idea of a consolidation above the psychological barrier of 10000. However, the Parabolic SAR is suggesting that it could have a more bearish extension.
What do we expect?
According to our forecasts in the H1 chart, the BTC/USD pair has not formed new lower low patterns and this suggests the idea that the 50% Fibonacci level in 8640 is a solid support that could be helping the Bitcoin gain momentum in the short term. To confirm that there is an uptrend in development, we would have to observe a breakout of the resistance level at 9609, followed by the level of 9759, before the take profit zone of 10066 can be reached.
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…
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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