EUR/USD Recovery Faces Resistance. Downtrend Still in Play Wall Street closed November with the biggest monthly gain in a year, supercharged by Donald Trump’s win at the beginning of the month. Optimism and hopes stemming from his proposed tax cuts, higher import fees, and deregulation boosted U.S. stocks throughout the whole month of November. The […]
BTC Pulls Back After Hitting $99,800 ATH. Was This Retracement Enough? On November 28, 2012, Bitcoin went through its first ever halving so we could say that halved Bitcoin is 12 years old (and a day). At that time, block rewards were reduced from 50 Bitcoin to 25 Bitcoin and the apex cryptocurrency went through […]
Greenback Surge Sends EUR/USD to Multi-Year Low Despite Oversold RSI. The dollar is on a run since the U.S. elections and last week it continued to batter the Euro, despite what looked to be a bounce at support. Friday’s PMI releases showed that the Eurozone’s economy is stagnating or even cooling off, while the U.S. […]
Correction Incoming as RSI Shows Overbought on Multiple Timeframes It looks like every day Bitcoin is printing a new high, disregarding any need for retracements, pullbacks, or the overbought RSI. It’s due to a combination of factors, starting with the spot BTC Exchange Traded Funds (ETF) approval in January, followed by the break of the […]
EUR/USD Holds 1.0500 Support as RSI Signals Bounce Since Donald Trump’s win in the U.S. Presidential race, the dollar has been skyrocketing but the last few days have been filled with rate cut noise and speculation. Since Election Day, the US Dollar Index (DXY), which measures the dollar’s strength against a basket of 6 major […]
The Weekly RSI Marches Forward Into Overbought Territory as Bitcoin Retreats off Highs. Donald Trump’s victory in the Presidential race ignited the fire that propelled Bitcoin to unseen-before heights but the signs were already there. For a long time, Bitcoin was trapped inside a descending channel and usually, when an asset breaks out of a […]
EUR/USD Finds Support at 1.0680; Bullish Divergence Hints at Rebound Potential Last week’s Trump win helped both the dollar and Bitcoin and ignited hopes of a loose tax policy going forward. Now it remains to be seen how much of Trump’s campaign talk will translate into actual facts. He proposed business deregulation, sliced taxes, increased […]
New Bitcoin ATH May Face Retracement, RSI Shows Bearish Divergence On Wednesday, November 6, Bitcoin hit a historic All-Time High (ATH) of $76,990 according to Tradingview charts. The favorable wind in its sails was the U.S. Presidential Election, more exactly, Donald Trump’s win. Many have expected this to happen due to Trump’s pro-Bitcoin views and […]
Textbook S/R Reaction Caps EUR/USD at 1.0900, Gap Closure Probable The U.S. Non-Farm Payrolls report came in much lower than anticipated, showing that only 12,000 jobs were added as opposed to the anticipated 106K and the previous 223K. The report reading has been skewed by hurricanes that devastated the U.S. but also by strikes initiated […]
UPtober Bets Paid Off: Bitcoin Adds More Than $10K to Its Value. After breaking through the double top at $69,000, Bitcoin flew to a high of $73,600, coming within inches of the All-Time High at $73,794. It is currently trading at $69,350 and it is printing a pullback, which is relatively normal after a strong […]