What will happen? FOMC press conference is among the primary methods the Fed uses to communicate with investors regarding monetary policy…
Bitcoin (BTC/USD) with a negative tone for the coming days
2019-11-11 • Updated
Thursday was also a day where bears dominated the price action in the cryptocurrency and now it seems that the spotlights are pointing towards the Fibonacci level of 78.6% in 7033. The 50-period moving average continues to exercise as dynamic resistance across the board, so the current structure could be maturing soon.
It is necessary to remember that the Parabolic SAR continues to be in favor of the bearish trend, which suggests more falls for the next few days. The MACD indicator continues in negative territory, favoring the bears for the time being, while the RSI is in an oversold zone, which could be a sign that a bullish rebound is imminent.
What do we expect?
According to our forecasts in the short-term, Bitcoin follows the bearish path and is projected to reach the Fibonacci level of 78.6% in 7033. There we expect a rebound to take place to resume the upward trend and thus be able to point towards the highs of the 4 of May in 9837. If the level of 7033 comes to give in front of the bears, the fall could extend to the level of 6270.
The US broad-market index, S&P 500, has been pressed below the 50-day moving average for the first time since March! Why?
Bitcoin At the end of the past week, Bitcoin broke through the big resistance level of $50 400 and reached $51 500 after the worse-than-expected US labor data…
The stock market has reversed, and now it’s going lower and lower…
Walmart is one of the biggest retail corporations in the US, with $244 billion in total assets. Does it worth buying amid rising prices and supply concerns that shatter the world economy?
Japan's inflation is set to reach 2% in April's reading, for the first time since 2015. But what about the weaker Yen?!