The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
Silver (XAG/USD): will we see further weakness?
2019-11-11 • Updated
Silver has been trading around the 200 SMA, where the bears could take advantage of the broad-based weakness seen during the last few weeks. However, XAG/USD is targeting the Fibonacci area of 50% at 16.69, at which we can expect further pullbacks in order to resume the overall bearish bias. If that happens, then the focus will switch towards the 15.73 level, where is located the Fibonacci zone of -23.6%.
RSI indicator stays in the positive territory, calling for another leg higher.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.