Central Banks Are Getting Ready for a Busy Week The safe-haven US Dollar made serious advances last week against its major counterparts: it took the Yen at a 5-year high, while GBP/USD printed a fresh yearly low at 1.3013. All this is ahead of the Fed’s March Meeting where we will most likely see a […]
Bitcoin’s Triple Top Generated the Predicted Outcome Last week we talked about a strong chart pattern that usually triggers a bearish move: the triple top. As expected, the bearish action started soon after, and Bitcoin travelled the entire distance from $45,000 to $37,500 in just a few days. But Bitcoin seems to be a tame […]
Euro at Record Lows as Ukraine Conflict Deepens The US Dollar strengthened late last week as the Non-Farm Payrolls report showed that 678K new jobs were created, above the forecast 407K. The data, coupled with the worsening of the Ukrainian war, made investors flock to safe-haven currencies such as the greenback, while economic worries weakened […]
Triple Top at $45K – The Threatening Bearish Pattern After two days of serious advances, Bitcoin started a downside correction at $45,000 and is currently trading at $41,000. The last three days have been bearish, for a total loss of almost 8% but the apex cryptocurrency is up almost 7% over the last 7 days. […]
West Adds More Sanctions, Ruble Collapses to Fresh Lows In an attempt to shield the country from Western sanctions, the Bank of Russia decided to hike the interest rate from 9.5% to 20%. This is the highest it’s been in almost two decades, as these levels were last seen in 2003. The Ruble dropped as […]
Bitcoin Erases Losses after a War-Induced Decline The flagship cryptocurrency – Bitcoin – has dipped to a low of $34,324 as a direct consequence of the full-scale military clash that is currently scorching Ukraine. The losses were quickly erased and currently, BTC is trading at $38,400, above support but still below the important mark at […]
Biden And Putin Are Set to Meet… “In Principle” The European bloc’s single currency rallied on Monday as news transpired of a potential Biden – Putin meeting. If such a summit does indeed happen, it could ease off the Ukraine crisis but while this may or may not materialise, what is certain is that the […]
Bulls Fail to Break Resistance, Double Top Warns of More Losses After a beautiful rally that saw Bitcoin climb from roughly $33,000 to $45,000 in just over two weeks, the bulls ran out of steam and crumbled at $45K key resistance. BTC/USD created a double top at said resistance and then followed the rules of […]
Resistance Holds: EUR/USD Back Inside the Diagonal Channel Europe’s single currency had a bumpy ride last week, as geopolitical tension increased and the Russia-Ukraine situation brought more turmoil. On the other hand, the US Dollar was boosted by soaring inflation that amplified the probability of a 50-basis point hike at the Fed March Meeting, and […]
Cryptocurrency Bonanza or Just a Flash in the Pan? Bitcoin performed a picture-perfect bounce at $37,500 and is up almost 15% during the last 7 days, but can it hold on to the gains? During the same period, Ethereum gained 11%, BNB added 10%, and Ripple 33%. Can we assume that the Crypto Winter is […]