ONLINE FOREX BROKER
2019-11-11 • Updated
Bitcoin continues to move within a recovery that it has been holding since February 25, with prospects to continue forward, even though the price action is weakening from the level of 10,800. The outbreaks continue northward and the 200-hour moving average remains below the current price.
In the latest news in the crypto space, a bank in Liechtenstein has been open to the possibility of allowing investments in cryptocurrencies by its customers, thus becoming one of the few banks in the world to allow this type of investment. On the other hand, the UK central bank has announced that the institution will strengthen its measures to combat money laundering with cryptocurrency.
The Parabolic SAR is favoring that the price of the BTC remains under pressure, although the losses could be limited by the 200-hour moving average. The Fibonacci level of 50% in 8724 continues to be the line in the sand that allows limiting losses in the short term.
What do we expect?
According to our forecasts in the short-term, the BTC/USD pair has managed to gain momentum in the aforementioned moving average, which is allowing it to gather strength to visit the key barrier of 11619 in the coming days. We must remain cautious about the elections to be held this Sunday in Italy, as it could trigger a demand for cryptocurrency and thus be able to rebound towards the target of -23.6% in 12985.
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…
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?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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