ONLINE FOREX BROKER
2019-11-11 • Updated
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.
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…
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?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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?
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