ONLINE FOREX BROKER
2019-11-11 • Updated
The Bitcoin is making a bearish break amid the news concerning the regulation of cryptocurrency in South Korea and the actions of the SEC with respect to the ICOs that originate in the United States. On a technical level, the BTC prepares to break the lows of January 23 and it is possible that it will again test the Fibonacci extension of 61.8% at 9,259.
The Parabolic SAR continues to be in favor of the bearish price action, since it is below the 200-hour moving average and it is likely that we will see a bearish cross in the coming hours. It should be remembered that the BTC/USD pair is finding strong resistance at the level of 11,924 in the short term.
What do we expect?
According to our forecasts in the H1 chart, the cryptocurrency is opting to follow the bearish path in the short term and is approaching the Fibonacci zone of -23.6% at 8.507. If it manages to break that level, the Bitcoin could have a bearish acceleration towards the Fibonacci extension of 100% in 5,754. The RSI is in an oversold zone, although we expect it to remain within that territory.
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…
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
