What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
Bitcoin (BTC/USD): double bottom in place at H1 chart
2019-11-11 • Updated
The double bottom that has been formed in the Bitcoin H1 chart is still intact and is helping to supply enough demand to see a bullish continuation in the short term. The current price is close to the 200-hour moving average, which should offer some dynamic resistance and push cryptocurrency to continue with the bearish movement.
According to a commissioner of the European Union, cryptocurrency mining is perfectly legal within the European continent and is only subject to normal energy regulation standards. On the other hand, the Coincheck company has announced that it will begin to reimburse the victims of the recent hacking suffered by the Japanese cryptocurrency exchange.
The price action has weakened near the psychological level of 9500, in an attempt to achieve a bullish consolidation above the 200-hour moving average. The Parabolic SAR is beginning to show corrective signals in favor of the general bullish bias, as projected in the H1 chart.
What do we expect?
According to our forecasts in the short-term, the BTC/USD pair is gaining demand around the Fibonacci level of 50% in 8724, which could help maintain support in the short and medium term in cryptocurrency. If this dynamic continues, the Bitcoin could point towards the 11339 resistance. The RSI indicator remains in negative territory.
The US broad-market index, S&P 500, has been pressed below the 50-day moving average for the first time since March! Why?
Bitcoin At the end of the past week, Bitcoin broke through the big resistance level of $50 400 and reached $51 500 after the worse-than-expected US labor data…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!
Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!