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BTCUSD $50,000 Possible

Bitcoin is looking for more short-term gain, following a false downside breakout below the $44,000 support level over the weekend. Sellers failed to ignite a large head and shoulders pattern, which has encouraged a bounce back towards the $46,000 level. The technicals on the four-hour time frame show that...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. As we expected, the speech by the head of the Fed turned out to be quite interesting. Jerome Powell presented to Congress a semi-annual report on monetary policy, from which it followed that not everything is as good as we would like...

Week Ahead: When Doves Cry

Fed Chairman Powell provided testimony to Congress last week regarding Monetary Policy.  He noted that the Fed was in no hurry to take its foot off the easing pedal and that although inflation expectations have been creeping into the markets, the Fed views this as a sign of confidence...

A Wild End to the Week

It's a bit of a wild end to the week, with stock market jitters returning in force after yields spiked again on Thursday. As the morning progressed in Europe, yields pared gains which has alleviated some of the pressure on stock markets but that seems to have reversed itself once...

Bitcoin breaks 45k as correction starts third leg, heading to 40k cluster level

Bitcoin's correction has turned out to be deeper than originally expected. The relatively weak recovery from 45000 was limited at 52116. Subsequent fall is now seen as the third leg of the correction from 57529. Deeper fall is in favor towards 100% projection of 52579 to 45000 from 52115...

Stocks Pull Back on Higher Yields

US futures have turned negative, with European stock markets reversing earlier gains as rising yields continue to weigh on sentiment. Jerome Powell's soothing tones and some positive results from J&J on the vaccine front had given markets a boost late Wednesday, going into today, but already we're seeing that fade....

Powell, Markets, Oil, Gold, Bitcoin

US futures are flat while Europe is seeing a small recovery after trading in the red ealier in the session. We're going through a very choppy period in the markets, with investors uncertain how to read the movements we're seeing in bond markets. The curve is steepening and investors are...

Yields Hit Nasdaq, Bitcoin Pre-Powell

Indices broaden their losses as bond yields ask harder questions, with NASDAQ tech sectors feeling the pinch from rising borrowing costs (especially those that finance buybacks), especially as the index is devoid of financials. Bitcoin posted its habitual 30% decline off the highs, testing the key 21-DMA. No coincidence...

There’s No Such Thing As Inflation, It’s Just An Illusion, Or Is It?

The major US indices erased earlier losses and the long-maturity treasury yields reached a delightful moment of release after the Federal Reserve (Fed) Chair Jerome Powell told the US policymakers that the monetary policy will remain unchanged until substantial progress is made in the US jobs market, and more...

All Eyes on Powell

An uninspiring start to trading on Tuesday, with all eyes clearly on Jerome Powell's testimony in the Senate after the open. European stocks have pulled back as the morning has progressed and find themselves largely in negative territory and US futures suggest we're going to similar moves there, with tech...

BTCUSD Breaking Lower

Bitcoin is under heavy downside pressure again on Tuesday as a widespread sell-off continues to engulf almost the entire cryptocurrency market. A bearish head and shoulders pattern on the daily time frame currently look to be targeting the $43,500 technical area. The RSI indicator on the daily time frame...

Commodities And Cryptos: Oil Surges, Gold’s Back, Bitcoin’s Wild Ride

Oil Crude prices continue to ride the reflation trade and herd immunity hopes. The return to normalcy for large parts of Asia and the US are providing a strong case for an even stronger pickup in crude demand in the second quarter. The reflation trade is driving dollar weakness and...

Bitcoin break 50k as correction starts, support expected between 46-49k

Bitcoin's correction has finally started today, probably in reaction to Elon Musk that "BTC & ETH do seem high lol" over the weekend. The strong break of 52672 support and the near term channel confirms short term topping at 57529, on bearish divergence condition in H and 4H MACD. Nevertheless, we're...

BTCUSD Extremely Overbought

Bitcoin has staged a pullback towards the $55,800 region after finding strong technical resistance around the $58,300 level over the weekend. The RSI indicator on the daily time frame is extremely overbought, meaning that the BTCUSD pair could be due for a correction. Sustained weakness below the $55,000 level...

A Mixed Day Ahead

The weekend was a quiet one on the news front, and that has set Asia up for a mixed start to the week. China held its 1 and 5-year Loan Prime Rates steady this morning as expected. However, it continued gently withdrawing liquidity via the repo market, ensuring that...

Bitcoin kept well inside near term channel, 58843 next

The unstoppable Bitcoin staged another impressive rally last Friday and took out our perceived resistance zone around 53618/54629 without any hesitation. Though, we're still skeptical on the sustainability of its momentum. Firstly, bearish divergence condition seems to be building up in hourly MACD. Secondly, there appears to be some...

Forex Forecast And Cryptocurrencies Forecast

First, a review of last week’s events: EUR/USD. The sharp rise in bond yields in the US and Europe has hit not only the stock market, but also the “carry trade”, providing support to funding currencies, primarily the euro and the US dollar. Recall that the funding currency is usually...

BTCUSD $50,000 Support

Bitcoin appears has staged a minor technical pullback from just under the $53,000 level, although the bullish short-term trend appears far from over. Any technical corrections back towards the $50,000 support area may be a buying opportunity for the next upside target, which is $55,000. A recent bullish breakout...

BTCUSD Increasingly Bullish

Bitcoin appears increasingly bullish in the near-term, as the pioneer cryptocurrency continues to appear comfortable above the $50,000 level. The BTCUSD pair has performed a bullish breakout from an ascending triangle pattern on the four-hour time frame. The MACD indicator on the four-hour time frame is also trending higher...

Crude Oil Price Rises As US Inventories Continue Falling

The price of cryptocurrencies rallied overnight as investors remained optimistic about the industry. The price of Bitcoin crossed $52,000 for the first time while ETH rose above $1,900. In total, the market capitalisation of all cryptocurrencies rose to more than $1.4 trillion. The recent rally was because of the...

Oil Pares Gains, Gold’s Pain, Bitcoin Surges Again

Oil Energy markets are focusing more on the deep freeze that is curtailing US production by a third and less on Saudi Arabia's plan to ramp up production in the coming months. Despite a strong dollar and expectations the Saudis will quickly take back their surprise 1 million barrel a...

Bitcoin Climbing To Fresh Records Above $50K

Gold and Bitcoin continue to head in the opposite directions. The cryptocurrency broke above the $50,000 hurdle for the first time ever on Tuesday and is continuing to push to new uncharted territories at the start of today’s session, hitting a high so far of $51,500. In contrast, gold...

BTCUSD $53,000 Possible

Bitcoin is continuing its recent record-breaking run higher above the $50,000 level, with the top crypto now testing above $51,000. An ascending triangle pattern, which is typically considered to be a bullish pattern, shows that $53,000 is the next major upside target. The MACD indicator on the four-hour time...

Bitcoin breaks 51k, to enter take profit zone with current rally

Bitcoin is finally having some follow through buying to sustain above 50k handle. Hourly MACD also indicates it's building up some upside momentum again. Current up trend is back on track to 100% projection of 17629 to 41964 from 29283 at 53618. Nevertheless, it should be noted that Bitcoin appears...

British Pound Retreats Ahead Of The UK CPI Data

The Japanese yen rose slightly against the US dollar in early trading after relatively strong economic data from Japan. According to the statistics agency, the country's exports rose by 6.6% in January, an increase from the previous month's increase of 2.0%. In the same period, imports declined by 9.5%,...

Follow The Leader

Apart from being another year older, not much has materially changed in the world over the weekend from my perspective. Markets remain target fixated on the Biden stimulus and vaccine rollouts as the magic panacea for the world's pandemic ills. With the world awash with liquidity looking for a...

Yen Accelerates Downward as Strong GDP Lifts Nikkei Above 30k

Yen and Dollar are under selling pressure today on strong risk-on markets. Nikkei closed above 30k handle for the first time in 30 years, as lifted by stronger than expected GDP data. Swiss Franc is following closely as third weakest. Sterling, is currently the best performer, on optimism of...

Bitcoin fails 50k again, more consolidations first

Bitcoin hits as high as 49238 in early trading but was rejected below 50k handle once again. As noted before, upside momentum is unconvincing with bearish divergence condition in hourly MACD. Even in case of another rally attempt, we'd expect 50k to limit upside for now and more consolidation...

Forex and Cryptocurrencies Forecast

First, a review of last week's events: EUR/USD. It often happens that monthly forecasts come true faster than weekly ones. That was what happened this time as well. Recall that only 30% of experts expected the EUR/USD pair to grow in the weekly perspective. In the transition to the monthly forecast,...

Sterling Supported by GDP, Bitcoin Hits Record

Sterling appears to be one of the stronger after data showed larger than expected GDP growth in December and Q4. But for now. Mean while Dollar and Euro are following as the next better performer. The greenback attempted for a recovery earlier today. But apparently, there is now follow...