ONLINE FOREX BROKER
2019-11-11 • Updated
It has not been a good weekend in the crypto space and a reflection of this can be found in Bitcoin, which has managed to consolidate its price action below the level of 8000. Since the session of March 12th has been strengthening the bearish bias with the formation of a channel that is guiding the road in the short term.
The fundamental news still does not favor cryptocurrencies. On the one hand, we have the U.S. SEC announcing that there are dozens of investigations in progress related to cryptos. In addition, rumors that Twitter could join the Google initiative to ban the advertising of cryptocurrencies and ICOs continue to weigh on the price action.
The Parabolic SAR shows bearish signs indicating that there is more space to fall since the pressure remains latent. In addition, the 200-hour moving average continues to be a very tough dynamic to break and it is possible that a breakthrough above that area could allow more gains, although that remains to be seen.
What do we expect?
According to our forecasts in the short-term, the BTC/USD pair still has room to follow the bearish path in the short term, with the 50-hour moving average exerting pressure on the price of cryptocurrency. If the Fibonacci level of 78.6% gets broken, our general bullish hypothesis would be invalidated to give way to further drops to the 5830 level. On the other hand, if the BTC breaks above 8041, it could go to the moving average of 200 hours.
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…
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?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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