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The sell-off wave in the cryptocurrency continued to expand during the session on January 17, where the US dollar has been gaining ground against the BTC and now we see that it is consolidating below the 10,000 mark. As we had anticipated, Bitcoin is close to reaching the Fibonacci target of 61.8% in 9.259.
The 200-hour moving average played an important role in bidding to the BTC/USD during the day of January 15, in addition to the Parabolic SAR indicates that the bearish trend continues to be the dominant bias across the board. Now, the level of 12,852 is presented as a solid resistance to overcome.
What do we expect?
According to our forecasts in the H1 chart, cryptocurrency should seek the break of the Fibonacci expansion of 61.8% to go for the Fibonacci target of -23.6% in 8,507, where we expect a wave of take profit orders activated to occur. There are likely to be corrective bounces to alleviate the sustained fall since January 15. The RSI is now in the oversold territory.
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…
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