ONLINE FOREX BROKER
2019-11-11 • Updated
The bearish trend in Bitcoin continues to be the protagonist in the price action since the movement has been extending in the last hours below the 200-hour moving average. The resistance of 17,161 has remained solid and it is possible that it continues to have such strength to help curb any attempt to rebound in cryptocurrency.
According to reports quoted in news agencies, the financial authorities of South Korea would be looking for the possibility of cooperating with the governments of China and Japan to establish a regulatory framework for the trading of cryptocurrency. In addition, in the United States, it is reported that the proposals to convert Bitcoin into an ETF have been withdrawn after the accolade given by the SEC.
What do we expect?
Our projections in the H1 chart suggest the BTC/USD pair has found resistance at the 65% Fibonacci level and now expects to fracture the key support of 13,618. It is possible then that the cryptocurrency falls towards the lows of December 30, which would further strengthen the bearish bias. The Parabolic SAR is favoring the bears in the short term and it is possible to continue extending until reaching the psychological level of 13,000. The RSI is in negative 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…
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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