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.
US stimulus checks boost Bitcoin
2021-10-25 • Updated
The US officials have recently unveiled a $1.9 trillion aid package. As a result, the part of this sum will go to individuals in $1400 checks per person. The interesting fact that most Americans tend to invest the money they’ve got from the government. The survey of Mizuho Securities claimed that two out of five stimulus check recipients plan to invest at least some part of this money into Bitcoin and stocks. That means around 10% of total direct payments, equal to $40B, will flow to cryptocurrencies and stocks. Moreover, Mizuho mentioned that nearly 60% will go to Bitcoin: "this represents 2-3% of Bitcoin's current $1.1T market cap". Therefore, the BTC will rise and other cryptocurrencies should follow it as well. Let’s analyze BTC/USD and ETH/USD – the most popular cryptocurrencies.
BTC/USD is moving in an ascending channel in the long term. While in the short term, the price has formed a symmetrical triangle pattern. Thus, if the BTC breaks the upper line of this triangle at $59,000, it will skyrocket upward to the all-time high of $61,000. On the flip side, the move below the lower line of the triangle at $55,800 will lead the price to the 200-period moving average of $53,000. It’s worth mentioning, that the 100-period moving average also lies at $55,800, making this support level harder to break.
Pay attention that trading of BTC/USD is available only in our app FBS Trader.
Let’s move on to ETH/USD. It has been moving sideways between $1715 and $1850 since the last week. If it manages to break the 50-period moving average of $1810, the way up to the high of March 20 at $1850 will be open. In the opposite scenario, the move below the intraday low of $1755 will drive the crypto to the 200-period moving average of $1715.
Trading of ETH/USD is available only in our app FBS Trader.
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.
Welcome to October, the tenth month of 2023. For this installment of What to Trade, I have handpicked a few of my favorite trade ideas for the month. Let’s go over a few of them.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.