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Bitcoin Nears ATH: Economic Data Could Be Key

Jun. 07, 2024

Double Top or Breakout? Today’s NFP May Hold the Answer. Bitcoin started the week on a positive note, with wind in its sales and a fresh challenge of the resistance at $71,500 after a bounce off the bullish trend line. And since we are close to the All-Time High, the question arises: can Bitcoin reach […]

NFP Report and ECB Rate Cut Loom: Market Poised for Action

Jun. 03, 2024

EUR/USD: Technical Patterns Hint at Volatility May ended on a bad note for the US Dollar Index (DXY), which dropped 1.54% for the month but is still up around 3% for the year. Inflation was the main focus of last week, with the U.S. Personal Consumption Expenditure Index (PCE) showing a 0.2% drop, exceeding the […]

Bitcoin in the Boredom Zone: Waiting for the Next Big Move

May. 31, 2024

Chart Analysis Suggests Key Support Levels as Mt. Gox Payout Looms. Right now, Bitcoin is stuck in what many analysts call the “boredom zone,” with prices showing slow movement and low volatility. Hovering around $68,000, Bitcoin hasn’t seen any major spikes or dips in the past month, reflecting a period of relative calm. It seems […]

Dollar Declines Amid Profit-Taking. PCE Data Ahead

May. 27, 2024

EUR/USD Faces Double Top, Bearish Divergence. On Friday, the greenback slipped against most major currencies as traders took profits after a full week of gains. However, the US Dollar still shows signs of strength, boosted by strong economic data that has tempered expectations for interest rate cuts. Recent data highlighted a robust U.S. economy, with […]

Bitcoin Challenges ATH, Fails at Resistance

May. 24, 2024

Ethereum Sees Price Volatility Amid SEC ETF Approval Earlier this week, Bitcoin reached a high of $71,960, challenging its All-Time High before failing to break the upper side of the descending channel. Currently, Bitcoin is changing hands at $67,000 after a sharp drop, however, many think that there is a lot of room for upside […]

U.S. Inflation Slows; Traders Eye Rate Cut Clues

May. 20, 2024

EUR/USD Bulls Test Resistance; RSI Nears Overbought U.S. inflation took a small step in the right direction last week, as indicated by the CPI numbers that came in below the previous reading but in line with expectations. The Core CPI showed a 0.3% change, down from 0.4% the previous month. The headline figure showed the […]

BTC Nears $67K: Big Players and Positive Inflation Data

May. 17, 2024

Bitcoin Breaks Resistance and Sets Sights on $70K Bitcoin (BTC) has been on quite a ride this week, thanks to some positive U.S. CPI data suggesting inflation might be cooling off. The surge has been helped by major financial institutions, including Morgan Stanley, revealing significant holdings in US spot Bitcoin ETFs. Currently, Bitcoin is trading […]

Currency Alert: CPI and Retail Sales Figures on Deck

May. 13, 2024

EUR/USD Faces Triple Resistance Barrier. Last week’s lack of major economic releases translated into choppy price action, with the US Dollar Index (DXY) gaining moderately but the dollar itself losing the weekly battle against the Euro. The European STOXX 600 index showed the largest weekly gain since January but EUR/USD ended the week almost where […]

Bitcoin Whales Hesitate as Altcoins Capture Interest

May. 10, 2024

From Bitcoin dips to MEMECOINs: Whale movements suggest a new market direction. The traditional markets are going through a wave of uncertainty, which has led some experts to suggest a growing “love” of riskier investments, including a wide array of altcoins beyond Bitcoin. This drift comes from disappointment with legacy money systems, pushing individuals towards […]

US Dollar Bruised and Battered: NFP Misses Expectations

May. 06, 2024

Low Liquidity Warning: Expect Jerky Movement Friday’s U.S. job data missed the mark by a landslide, with the Non-Farm Payrolls report leading the charge: forecast 238K VS actual 175K. This is actually the first time the NFP numbers came out below expectations since November 2023. The Average Hourly Earnings ticked lower at 0.2% (previous 0.3%) […]