2019-11-11 • Updated
In recent years, bitcoin has become an all-time favorite asset of many traders due to its fast appreciation. 2017 is truly fruitful for BTC. Simple because since the beginning of this year it spiked by nearly 200%, outpaced the yellow metal and achieved its all-time high of $3000. What causes such an unprecedented rally? It is bitcoin’s exceptional characteristics. Its main distinction from fiat currencies is the fact that no government controls it. While there is no limit to a number of banknotes the central political entity can get out of money printing press, bitcoins are very limited in number. There are only 21 million of them in circulation and this number cannot be increased. Many believe that the limited quantity of bitcoins increases their value in the long run. So, don’t be surprised if Bitcoin rebounds to even higher peaks.
A major drawback of the bitcoin is its extreme volatility. Bitcoin is moving upwards with numerous corrections – multiple dips that can easily hit traders’ pockets. There are three major factors that may distort the BTC’s way to the upside:
The recent big drop was spotted on June 15, 2017. Bitcoin slumped to $2250 from $2570 in a single day for no fundamental reason. Then, the digital currency managed to recover to $2640 in just a few days. Such swing is not new for Bitcoin. It is already an established pattern: after the significant downfall, the BTC rebound to the even higher levels. Those who decide trading BTC should make a note of such extreme fluctuations in BTC/USD and remember about bitcoin’s characteristics we specified in this article.
Crude oil futures surged on Monday due to disruptions in Russian refining capacity caused by Ukrainian drone strikes and Moscow's decision to cut output to comply with OPEC+ targets. The West Texas Intermediate (WTI) contract for May settled at $81.95 a barrel, up $1.32, while the Brent contract for May settled at $86.57 a barrel, also up $1.32. Russia instructed...
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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