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 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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