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Bitcoin (BTC/USD) poised to test fresh lows in the short-term
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.
The volatility of the oil price these days questions the previously taken uptrend. Or does it not?
AUD/JPY finds itself at the crossroads of several trends - we will use various time frames to foresee the possible scenarios.
On the W1, Brent oil formed a bullish “hammer”…
In times of political and economic uncertainties, analysts recommend investing in safe-haven assets. However, since recently, the USD with the weak American economic data and the easing monetary policy has been losing its status. What about the JPY and XAU? The situation is unclear.
USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.