ONLINE FOREX BROKER
2019-11-11 • Updated
The bulls have resumed the reins of Bitcoin during the day of Thursday and we are currently seeing a consolidation above the 200-hour moving average, where a bullish crossover is currently taking place. Because cryptocurrency made a break from the highs of April 29, the BTC/USD pair aims to reach the highs of April 25 in 9609.
In the latest news about crypto space, Goldman Sachs has announced that Bitcoin futures trading will start where the firm will use its own money on behalf of its clients. In China, national radio has questioned the transparency of Bitcoin futures trading, while Reddit announced that it will re-launch payments through BTC.
The Parabolic SAR is favoring the uptrend in the short term, helped in part by the MACD indicator, which is moving in positive territory. However, we must bear in mind that the RSI indicator is in overbought territory, which adds some strength to the current levels where Bitcoin is moving.
What do we expect?
According to our forecasts in the H1 chart, since there was already a rebound on the Fibonacci level of 50% in 8640, Bitcoin is expected to continue prolonging the bullish bias to try to break the highs in 9609. If that scenario it happens, all the focus would be set at the Fibonacci level of -23.6% in 10066, where take profit orders would be activated.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
The previous year 2022, was undoubtedly tumultuous for the stock markets, with several stocks plummeting across multiple industries. Analysts have blamed the hard times on inflation, hawkish federal reserve policies, an impending global recession, and the ongoing crisis in Ukraine. This year, however, we're beginning to see some recovery in the stock markets. This article will find a few stocks worth buying this year.
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.
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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