ONLINE FOREX BROKER
2019-11-11 • Updated
The Bitcoin continues to point north, in an attempt to consolidate the price action in favor of the bulls. Finally, we could observe the resistance level of 8907 breaking and this puts the focus on the Fibonacci level of -23.6% in 9486. The bulls continue to gain traction and we may continue to see this dynamic for several more days.
It should be noted that the resistance level of 9759 is a target of interest for sellers, where we expect a consolidation to occur and subsequently a pullback that can erase the overbought levels in which the cryptocurrency is found, following the upward trend that has developed above the 200-hour moving average.
What do we expect?
According to our forecasts in the short-term, the BTC aims to extend the upward trend towards the Fibonacci level of -23.6% in 9486. The Parabolic SAR is in favor of the bulls and the profits could be extended even to the level of 9759 This would strengthen the general trend in the medium term and eventually we could see a testing of the psychological level of 10k.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
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.
Are you aware of the recent crackdown by the SEC on major cryptocurrency exchanges, Binance US and Coinbase? Surprisingly, savvy Bitcoin traders seem unfazed, as options-based implied volatility metrics indicate. It appears that the lawsuits were anticipated and already factored into the market. Implied volatility reflects investors' expectations of price turbulence, but little evidence of heightened concern exists.
Let's dive into the recent debt ceiling saga in the US and its implications for the economy, deficit, and inflation. The good news is that a new debt deal is on the horizon, saving us from a potential default on June 5. Phew! This deal will impact the economy by providing stability and avoiding a financial catastrophe.
Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.
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