BTC/USD: a top?

BTC/USD: a top?

2019-11-11 • Updated

Trade idea

SELL 9,765; TP 8,600; SL 10,150

It seems that BTC/USD formed a “double top” after it had met resistance at the 61.8% of the 2017-2018 decline in the 13,500 area. On Tuesday, bitcoin closed below 38.2% Fibo of the 2018-2019 advance and the 50-day MA at 9,898. In July the cryptocurrency formed a lower high than it did in June. The price is certainly very volatile and can make bigger near-term swings, but the odds are now that it may test the 50% Fibo level at 8,517. Resistance is at 9,898 and 10,300.

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US Dollar: A Dump or a Correction?
US Dollar: A Dump or a Correction?

After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?

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