Earnings season is a crucial time for investors and analysts, as it provides insights into how well companies have performed over the past quarter and gives indications of their future earnings. In 2023, expectations for US Q1 earnings were low due to economic challenges and rising interest rates. Surprisingly, many companies beat these low expectations, with 75% of S&P 500 companies surpassing forecasts.
Bitcoin (BTC/USD) poised to test fresh lows in the short-term
2019-11-11 • Updated
Monday's session was marked by low liquidity in the markets and in the crypto space was not the exception. There were some attempts to recover bullish bias above the 6700 level, but the momentum has not been strong enough to take Bitcoin to new heights. However, we are seeing a possible breakdown of the bearish channel that we had raised in previous articles.
The 200-hour moving average continues to guide the cryptocurrency path in the short term and we do not rule out the idea that the current recovery will touch that indicator, where it could encounter dynamic resistance. However, the Parabolic SAR is beginning to show bearish signals.
What do we expect?
According to our forecasts in the H1 chart, Bitcoin remains solid in the bearish trend and we are waiting for a breakout below the support level of 6281. If that happens, we could see a fall to the level of 5475, thus invalidating the bearish channel that we have mentioned. On the upside, we have a strong containment barrier at 7586.
When I started trading stocks a few years ago, I often needed to pay more attention to my technical analysis skills and trust that the market would play fair according to my analysis. I have since discovered that the safer approach to trading stocks is to, more often than not, seek out investing opportunities - that is, catching stock commodities with a potential to rise.
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