ONLINE FOREX BROKER
2021-10-20 • Updated
After a long correction in September, BTC/USD has managed to reverse up and gained 50%! How to trade it now? Let’s find out.
First, the growth has started in early October, supported by the comments of Federal Reserve Chairman Jerome Powell. He said that the US central bank had no intention to ban cryptocurrencies. That announcement encouraged crypto investors. As a result, Bitcoin surged by 10% that day. Secondly, the first Bitcoin exchange-traded fund in the United States has begun trading at the New York Stock Exchange! It is great news for the entire crypto market as the launch of this ETF has confirmed that Bitcoin is legitimate.
iTrustCapital: “The launch of the first bitcoin-linked ETF in the US will bolster the broader crypto market and help an entirely new investor class experience the benefits of bitcoin as a legitimate asset.” Bitcoin has increased its value significantly in October as investors on expectations of the fund's debut and also since more institutional investors with big names are purchasing it.
Bitcoin has approached the psychological mark of $65,000. It’s a strong resistance level which the pair may fail to cross on the first try. The RSI indicator signals that Bitcoin can be already overbought. Thus, we might expect a short pullback to the support level of $60,000. It’s a good idea to add the MACD indicator to your chart. When the MACD bar crosses the red signal line upside down, it can signal that Bitcoin will go down. Still, the long-term trend remains upward. If Bitcoin closes above the resistance level of $65,000, it will rally up to the next round number at $70,000.
Here's the latest scoop: Paul Tudor Jones, the billionaire hedge fund manager, seems concerned about Bitcoin's appeal. He believes the growing unfriendly regulatory landscape in the United States makes Bitcoin less attractive. Additionally, the prospect...
Bank of Indonesia Governor Perry Warjiyo announced that Jakarta is following the lead of the BRICS bloc to reduce dependence on the USD and diversify the use of currency in international trade. Indonesia is "more concrete" than the BRICS...
Hold on to your seats, folks! Bitcoin (BTC) is back with a vengeance, soaring past the $30 000 mark on April 11th, reaching its highest point since June 2022. And it's not just BTC - Ethereum (ETH) is also making gains, trading at $1917 and bagging 3.1% gains...
Let's dive into the world of gold. Currently, the price of gold, represented by XAUUSD, is stuck in indecision, hovering around the $1,975 mark. The market is anxiously awaiting two important factors: the release of the Federal Reserve's meeting minutes and the extension of the US debt ceiling.
Hey guys, this is the last full trading week in May, and many forward-looking individuals like myself are already preparing themselves to seize whatever opportunities June may have in store. On this note, I will review a few commodities that have satisfied my quest for swing-trading opportunities in the coming month. Follow me!
The Bank of England (BoE) has dramatically shifted its economic forecasts. They no longer expect a recession in the UK and have upgraded their growth projections. This year, the BoE predicts GDP growth of +0.25%, a significant improvement from previous expectations. Next year's forecast is even more optimistic, with a projected growth of 0.75%.
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