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.
Bitcoin (BTC/USD) hovering within a strong demand area
2019-11-11 • Updated
During the session on Wednesday, we could witness a slight recovery in the price of Bitcoin, which has found support at the 8916 level, where the Fibonacci zone is at 78.6%. This has allowed the bears to take a break from the selling pressure they have exercised since the session on May 5 and this move helps erase oversold levels.
In the latest news around crypto space, an SEC commissioner has warned about the risk involved by blockchain sandboxes for investors. In addition, a former adviser to the Trump administration and former Goldman Sachs COO has expressed himself as a bitcoin skeptic, although he notes that he sees promising things in blockchain technology.
The price action is consolidating below the 200-hour moving average and there are no clear signs in the short term about which path Bitcoin is going to take. Meanwhile, the Parabolic SAR is pointing to the upside, thus supporting the overall structure of the BTC. The RSI indicator remains in positive territory and the MACD is entering the buying zone.
What do we expect?
According to our forecasts in the short-term, Bitcoin aims to remain in a bearish consolidation, bearing in mind that the key support level of 8729 could be touched in the coming hours. However, we have a projection that the cryptocurrency rallies and will seek the Fibonacci level of -23.6% in 10114. On the downside, if the BTC breaks below 8729, the spotlights would be set at the 8000 level.
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…
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
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?