Google is going up. When are we to expect full recovery? This short technical analysis will give you some clues where to look at.
Bitcoin (BTC/USD): will we see a strong bearish breakout soon?
We have not had much action regarding the price of Bitcoin, although the 200-hour moving average continues to be maintained as dynamic resistance. The bears are still trying to gain strength to make a significant breakout to the downside, so we expect the consolidation to remain intact during this week.
The Parabolic SAR is pushing down and this helps the bearish force to gain more and more ground. In addition, the RSI indicator is entering the oversold territory, which may give signs that an imminent rebound could come, to observe a correction of the bearish cycle, although this could only provide more selling action.
What do we expect?
According to our forecasts in the short-term, Bitcoin could continue to press down and we expect there to be a break in the support level of 7033 to open the doors to the Fibonacci level of 100% in 6270. However, a rebound in the current zone could lead to cryptocurrency consolidation above the 200-hour moving average.
While biotech companies are struggling to find the vaccine, investors make bets who’ll win this race.
There are many things happening in the UK. What is the strategic outlook for the GBP?
The Australian dollar set a strong upward trend over a month. Will AUD loose its gains soon?