2019-11-11 • Updated
The Bitcoin maintains its bullish tone intact from the day of February 26 after having found strong support at the Fibonacci level of 38.2%. The current price remains above the moving averages of 200 and 50 hours in the H1 chart, which helps to support the price action of the aforementioned cryptocurrency.
According to the latest news about the ICOs, the financial regulatory entity of Japan could be considering the creation of a regulatory framework that allows monitoring the companies that are raising funds through the initial coin offerings.
The Parabolic SAR is providing support to the BTC/USD pair, which helps the bullish tone to remain dominant, in addition to the RSI moving in positive territory after having left the overbought area in which it was inserted during the 27th of February's session.
What do we expect?
According to our forecasts in the H1 chart, Bitcoin aims to continue with the upward path in the short term, considering that the level of 9407 remains intact. The 200-hour moving average is waiting for a bullish cross to occur in order to allow more profits. The target remains fixed at the Fibonacci level of -23.6% at 12985, while on the bearish path we can find a demand zone at the Fibonacci level of 50% at 8724.
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.
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.
The S&P 500 had a good week due to the impressive start of Q1 earnings and favorable inflation data. In March, the consumer price index rose 5%, lower than the previous month's 6%, and met economists' expectations.
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In the dynamic world of financial trading, understanding the nuanced relationship between the Federal Reserve's key interest rates and Bitcoin can be a game-changer…
As the US Non-Farm Payrolls (NFP) take center stage, this month's data gains special attention, particularly after the unemployment rate took a concerning turn in the previous month. The US ADP Employment Change reveals a significant decline, with the economy adding 298K new jobs...
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