Market Volatility Post-Red Monday: False Breaks and Next Moves Following Red Monday, markets were in shock and there were even talks of an emergency Fed meeting discussing a 75-bps rate cut. The Dollar Index (DXY) fell to 102.16 but recovered throughout the week to a high of 103.55 and is currently trading at 103.15. Yields […]
The Descending Channel Proves Its Worth Once Again, Sends Bitcoin Higher. Following what many call Red Monday, Bitcoin, Ether, and other cryptocurrencies have been on a bit of a roller coaster. On Monday, we saw a sharp move down, continuing last week’s 13.1% drop – the biggest since the FTX exchange drama back in 2022. […]
EUR/USD Hits Long-Term Trend Line. Bounce-or-Break Scenario in Play The US Dollar received a big hit from the NFP and accompanying reports, which sent the US Dollar Index (DXY) to a low at 102.65 and EUR/USD to a high at 1.0940. The jobs data also sparked fears of a recession and talks about a […]
BTC/USD Hits $70K, Faces Critical Support at $63,600 Former President Donald Trump is going “all-in” on cryptocurrency, promising to make the U.S. a “Bitcoin superpower” if re-elected. Speaking at a Bitcoin conference in Nashville, Trump laid out plans to turn the U.S. into the “crypto capital of the planet.” His plans include creating a strategic […]
EUR/USD Eyes Support as Dollar Bulls Gain Momentum Last week’s main story was the release of the U.S. Personal Consumption Expenditures Index (PCE), which showed that inflation increased at a restrained pace. The Personal Spending survey that came out at the same time showed that consumers accelerated their spending, a sign of a healthy economy. […]
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 […]