Bitcoin Struggles to Break Free. The Descending Channel in Play Once More Amidst a lively crypto market, all eyes are on the debut of Ether ETFs in the U.S. On July 23, the first trading day for these spot Ether ETFs saw net outflows of $78 million. However, the following days brought a positive shift, […]
EUR/USD Triple Top Invalidated as RSI Nears Overbought Big news over the weekend, as President Joe Biden decided to step out of the election race, endorsing the current Vice President, Kamala Harris to take over the Democratic reins for the November head-to-head. Harris garnered support from many party members, though several prominent figures, including former […]
Bitcoin’s Descending Channel Is Still Doing Its Job. Upper Barrier Next? Bitcoin ETFs are still the talk of the town and they continue to attract massive investments. BlackRock’s IBIT Bitcoin Exchange Traded Fund (ETF) saw another $107 million in inflows on July 18, marking the ninth consecutive day of growth. This could be related to […]
Triple Top Formation and RSI Signal EUR/USD Reversal Inflation is on track to drop to acceptable levels in the U.S., as shown by last week’s Consumer Price Index (CPI) release. The yearly headline figure moved from the previous 3.3% to 3.0%, while the monthly figure showed a -0.1% change from the previous 0.0%. This is […]
Bitcoin Shows Another False Break. Top Of The Channel Next? For the fifth consecutive day, U.S. spot Bitcoin exchange-traded funds (ETFs) saw positive net inflows, totaling more than $100 million on Thursday. Leading the pack, BlackRock’s IBIT, the largest spot Bitcoin ETF by net asset value, recorded net inflows of over $72 million and was […]
EUR/USD Approaches Key Resistance with Triple Top in Play The latest US jobs report revealed a surprising increase in Non-Farm Payrolls, rising to 206K against the anticipated 190K. Despite this headline boost, the finer details were less encouraging. The unemployment rate climbed to 4.1%, marking its highest point since November 2021. Additionally, average hourly earnings […]
The Mt. Gox Snowball Is Rolling Downhill Bitcoin took a nosedive this week, hitting its lowest point in four months. The price dropped over 12% for the week, to a low of $53,550, breaking the support levels at $57,000 and $55,000, as well as the lower barrier of the descending channel. This decline marks Bitcoin’s […]
EUR/USD: Anticipating Breakout with Packed Economic Calendar Inflation remained unchanged in May as shown by the Core PCE Price Index, which printed a flat reading of 0.1%, meeting the consensus. However, the previous reading was revised from 0.2% to 0.3%, so, overall we can see a downward trend for U.S. inflation. This sparked some optimism […]
The Double Top at Work: Will BTC/USD Reach the Bottom of the Channel? This month, Bitcoin’s price has fluctuated wildly: after nearing $72,000, close to its all-time high from March, it retreated to the $58,000 area. Just Monday, BTC dropped from $63,100 to $58,500 before erasing some of the losses and closing the session at […]
EUR/USD Under Pressure, USD/JPY Near Intervention. On Friday, the U.S. dollar strengthened against major currencies following the release of PMI (Purchasing Managers’ Index) data, which indicated that the U.S. economy is in better shape compared to other major economies. The U.S. Dollar remained a preferred safe-haven currency due to ongoing political uncertainties surrounding the French […]