Bullish Signs Ahead: Whales Are Loading Up, Exchange Supply Goes Down. Bitcoin has been consolidating for more than 90 days now, which is its longest period of such price action and could be a precursor to a significant upward rally. Usually, the longer the consolidation, the bigger the explosion is when the price finally breaks […]
Dollar Bulls, Rejoice: EUR/USD Prints Triple Top. The U.S. economy is not slowing down according to Friday’s stellar Non-Farm Payrolls report that overshot expectations by a huge margin. The report showed that 272K new jobs were created, while last month’s number was 165K and the forecast was 182K. The Average Hourly Earnings also increased […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]