2024-01-24 • Updated
Bitcoin undergoes a halving approximately every four years, halving the rate of new Bitcoin creation. The last three occurred in 2012, 2016, and 2020, with the upcoming one expected in April 2024. This process regulates Bitcoin's supply, contributing to its scarcity and controlled issuance, ensuring a stable and valuable asset. Halving impacts miners, and market competition, and is historically associated with price increases due to reduced supply and growing demand. While it brings potential positives, it also introduces increased volatility to the Bitcoin market.
Bitcoin took a nose-dive shortly after crossing the $47k mark and the SEC approval of a Bitcoin spot ETF. The bearish move initially threw off a few retail investors, but given that price is currently reacting to a confluence of trendline support, moving average support, and demand zone areas whilst retaining a bullish moving average array tells me the market could be gearing up for another bullish rally.
Analyst’s Expectations:
Direction: Bullish
Target: $50,000
Invalidation: $38,000
ETHUSD as seen from the chart is currently sitting on a major demand zone, with credible confluence from the trendline support, 100-day moving average support, bullish moving average array, and the 76% of the Fibonacci retracement tool; which I have deliberately not plotted on the chart so that the price action can be seen clearly. Here, my sentiment is also bullish.
Analyst’s Expectations:
Direction: Bullish
Target: $2,750
Invalidation: $2050
Ripple may be preparing for a bullish run of its own too, since we currently have price reacting from the demand zone, supported by a trendline, and the bullish array of moving averages as seen in the previous commodities. I expect price to reach my target at the 200-day moving average.
Analyst’s Expectations:
Direction: Bullish
Target: 0.59749
Invalidation: 0.47383
The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.
You can access more of such trade ideas and prompt market updates on the telegram channel.
Robert Kiyosaki, the author of "Rich Dad Poor Dad," has updated his bitcoin price forecast, now projecting the cryptocurrency to hit $100,000 by September. He plans to acquire more bitcoin before April, attributing his decision to the upcoming halving event. Kiyosaki advises investors to consider adding bitcoin to their portfolios and suggests...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
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...
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!
|
