GBP/CAD rising inside minor impulse wave 3 Next buy target - 1…
Bitcoin (BTC/USD) looking for clues in the short and medium term
The volume of trading decreased during the weekend, although cryptocurrency was at the mercy of the bearish price action. The Fibonacci level of 78.6% in 7033 continues to provide support across the board and that is why we expect a recovery to follow the downward path in the short term, as the technical indicators are favoring this scenario.
An official of the Bank of Russia has expressed that it is still very premature and that there is a lack of information to evaluate the potential that Blockchain technology can have. Meanwhile, in China it has been announced that several universities plan to build a distributed and Blockchain-based organization to make educational resources more accessible.
What do we expect?
According to our forecasts in the short-term, Bitcoin remains technically bearish and we are likely to see a continuation of the general trend. The support level of 7033 will be an important pivot for this week because that is where the short and medium term trend would be defined. In case the cryptocurrency bounces at current levels, it could go towards the resistance level of 7587, where the 200-hour moving average is located.
Recommendations: SELL 1282 SL 1297 TP1 1252 TP2 1244 TP3 1215 BUY 1308 SL 1293 TP1 1325 TP2 1335 TP2 1349 On the daily chart of XAU/USD, the 1282-1308 consolidation continues…
Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; Dollar is going to positive area, but the market is overbought now.
USD/CAD rising inside minor impulse wave 3 Next buy targets - 1…