
US Core monthly retails sales will be announced on Friday at 15:30 MT time.
Niall Ferguson, crypto skeptic, the author of "The Ascent of Money": “I was wrong. Wrong to think there was no … use for a form of currency based on blockchain technology. It is an option on digital gold. By this, I mean that bitcoin’s role in the foreseeable future is as a liquid asset that is hard to confiscate, and thus serves as a type of insurance. You might hold your private keys the same way the European wealthy used to hold gold jewelry and precious stones. However, the experiment launched by Satoshi Nakamoto in 2008 is not yet finished. To own bitcoin today is to have an option on Satoshi’s experiment succeeding.”
Let’s consider the key levels for Bitcoin. Is it too early to talk about the bullish market?
The trading of the digital asset was quite mixed at the beginning of the week. On Tuesday, Bitcoin opened at the lower level on the daily chart, but bulls managed to push it back to the resistance at $4,113. The resistance has not been broken since that day. If bulls take over the market, we may see the rise of the price for cryptocurrency to the next resistance at $4,212. The next key target for bulls lies at $4,293. On the other hand, if the price for Bitcoin weakens, it will slide towards the support at $4,035. The next support is placed at $3,921.
From the technical perspective, Bitcoin has been trading within the upward channel. Parabolic SAR also confirms that. As for ADX, it shows bears dominating the market, but their strength is weakening.
New announces:
Regulations:
Current prices (last update 15:48 MT time)
Bitcoin $4,086
DASH $92.87
Ethereum $139.33
Litecoin: $60.44
US Core monthly retails sales will be announced on Friday at 15:30 MT time.
Banks are reporting next week: JPMorgan and Citigroup on Tuesday (15:30 MT and 17:00 respectively), and Bank of America on Wednesday (15:30 MT). What do we have in store?
Morgan Stanley analytics forecast the economy will return to pre-crisis levels by the fourth quarter. Here’s why.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
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