ECB meeting is on the agenda. Will the EUR get weaker?
Charlie Lee, creator of Litecoin:
“Crypto’s really risky. I've seen many bear markets or crashes that are 90% down … when the price does crash, it shakes off all the weak hands. So, my point was that if you can't withstand a 90% drop, then don't buy-in, because it's too risky for you."
After the test of the $13,130 level on Wednesday, the price for BTC dropped to the support at $11,000. If the price for the digital currency gets more pressure from the downside, the retest of the $11,000 level (lower border of the symmetrical triangle) will be possible. In that case, the next support will lie at $10,560. The break of this level will increase the possibility of the test of the 38.2% Fibo at $10,020. If the price for the oldest crypto gets bullish momentum, it will rise to the resistance at $12,030, after that the resistance will lie at $12,370. If bulls manage to overcome these resistance levels, the test of the $12,770 level will be inevitable.
· This week was remarkable for the comments by the US officials on crypto. At first, the Federal Reserve Chair Jerome Powell called Bitcoin a store of value, like gold. After that, US President Donald Trump tweeted that cryptocurrencies are not money and their value is based on thin air. According to his words, the only currency in the USA is USD.
· US Security and exchange commission (SEC) allowed conducting the first ICO to the Blockstack project.
· Turkish central bank plans to make its own cryptocurrency. It seems like the policymakers gave up on the Turkish lira, doesn’t it?
· Authorities of Iran age going to legalize mining.
· US tax regulator promised to develop new methods to deal with the tax fraud.
· Goldman Sachs opened its own crypto department and now is ready to compete with JP Morgan.
· The news about the search in the TRON office turned out to be fake.
Current prices (last update 15:16 MT time):
The news that opposition lawmakers plan to stop Boris Johnson to leave the European Union without a deal increased the political uncertainties in the UK.
The level of non-farm payrolls (NFP), also known as non-farm employment change will be published on September 6, at 15:30 MT time.
The retail sales for the US in focus today
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
The USA will publish the level of retail sales and core retail sales on September 13, at 15:30 MT time.