On Friday, the greenback rallied because traders shifted their focus to the highly-anticipated Federal Reserve rate lift already next week, notwithstanding uncertainty over next year’s rate lifts kept gains in check…
Bitcoin ceases diving as market tries to form a short-term bottom
On Tuesday, Bitcoin ceased its devastating dive, so the number one crypto asset traded marginally higher.
On the Kraken crypto exchange, the currency pair BTC/USD ended up with a result of $3,685.64, adding 0.2% since Monday’s outcome.
After a dire stretch for the most popular crypto asset, one financial analyst told that signs hint at a probable bottom around the current levels. Having lost approximately 40% of its market value for the last two weeks, with little news to drive that powerful move, the leading crypto asset is attempting to form a base around the $3,500 - $3,700 level for the last three days, as some market experts pointed out.
While the longer-term chart setup is still downbeat, with a probable test of $2,970, but in the short-term the charts are indicating that the number one crypto asset is in oversold territory. As follows from this, it might end up with a relief rebound up, experts explained, referring to the relative strength index.
The RSI turns out to be a technical gauge, measuring the overall magnitude of recent price moves to assess whether a particular asset is overbought or oversold.
Meanwhile, altcoins marginally headed south. As a matter of fact, the currency pair ETH/USD slumped by 1.6% being worth $102.55. As for Litecoin, the currency pair LTC/USD lost 0.2% reaching $28.91. XRP/USD, the crypto asset, running on the Ripple protocol, dived by 0.3% hitting 34 cents. Besides this, the currency pair BCH/USD headed south by about 0.4% being worth $168.70.
Having dived over 10% on Monday, futures markets stand still on Tuesday. As a result, December delivery Cboe Global Markets contract XBTZ8 decreased by 0.6% showing $3,625, while November delivery CME Group contract BTCX8 rallied by up to 1.8% showing $3,675.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…