2019-11-11 • Updated
Bitcoin is taking a break around the support level of 8916, where the Fibonacci zone is at 78.6%, positioning itself in a perspective that could turn bullish for the next few days. This on the understanding that the price is consolidating above the 50-hour moving average and the outbreaks could point upward.
However, we are still seeing a consolidation below the 200-hour moving average and cryptocurrency would have to break the strong resistance at the Fibonacci level of 50% in 9251 in order to validate the bullish hypothesis. The RSI indicator remains in positive territory, which favors the bulls for the next few days.
What do we expect?
According to our forecasts in the short-term, the BTC would have to break above 9251 in order to point towards the highs of May 5 in 9837, where the bulls would be looking to reach the Fibonacci level of -23.6% in 10114. If we came to observe a consolidation above the psychological barrier of the 10000, the action of the price would lead the Bitcoin to visit the level of 11000.
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.
The energy industry has undergone several major changes in the XXI that are becoming increasingly apparent…
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...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
