
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
2019-11-11 • Updated
The bullish consolidation in Bitcoin remained alive during the Friday session and we could see that there was a break in the resistance level of 7586, now support. At the moment, cryptocurrency finds resistance in the 8033 area, where bears are appearing to make a bearish push in the coming days.
This movement should not be long, since as projected in the H1 chart. There is a retracement Fibonacci that is drawn from the lows of April 12, where precisely Bitcoin bounced on the 200-hour moving average. In addition, the Parabolic SAR is supporting the price action in the BTC/USD pair.
What do we expect?
According to our forecasts in the short-term, Bitcoin could enter a corrective phase that could extend to the 65% Fibonacci level in 7124, where we could observe a rebound that resumes the upward trend towards the Fibonacci level of -23.6 % in 8413. This movement would originate thanks to the break of the highs of April 13. On the downside, if the moving average of 200 hours comes to yield to the bears, the next obstacle to face would be in the support level of 6281.
What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
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…
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.