Cryptocurrency market approaching $400 billion as bitcoin tests $9000
Yesterday, we saw a small drop of about 35 pips. The euro dollar traded around 1. Price action is still moving in a range as part of a bull trend.
The euro could continue to trade between the limits of the range between 1. This middle ground is not a preferable situation to trade in. A break to the upside and beyond the resistance at 1. Make sure that there is a daily candle that has surpassed and closed above the resistance area. A breakout to the downside with the euro closing below 1.
Those levels could offer potential opportunities to buy from better prices. A mandatory element is a bullish rejection candle of at least pips from either 1. What we saw yesterday was the precious metal cryptocurrency market approaching $400 billion as bitcoin tests $9000 about 90 pips. The formation is an inside bar see the daily chart which means that there is a high probability that price earses the losses from yesterday and continues to move in northern direction.
The scenarios on our Watch List are the following: Gold goes for the upper band of the target and at the same time resistance at There are only two routes from here for price to go. If price respects the resistance at The pull back should be of at least 80 pips for us to be sure that Gold is about to get lower and probably test the support level at A breakout to the north and outside the boundaries of The movement is likely to coincide with a weakness in the dollar against the basket of major currencies- so it is good to keep an eye on the U.
This level could also offer an opportuntiy for a short trade provided we see price action evidence of at least two 4-hour bearish candles. There is a level that marks a potential reversal of the trend-from bear to bull. Similarly to Bitcoin, Ether is trying to push up. Additionally, there should be specific candle formations reacting off of these levels.
This is one of the places that big players go start selling again. How would we know? Price action would leave the trail needed. If there are two 4-hour bearsih candles rejecting the level then this could become an opportunitiy for a short. Retracements could take place by reaching the following levels: Both those levels could be points from which price reacts with bearsihness. If it does,we could take advantage and get short.
See target levels above. In case a news event gets reported with positive news of increasing confidence that could be applicable not only for Ether but for the entire crypto asset classwe could see price soaring.
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The post Cryptocurrencies and Forex Analysis April 4th: Euro still ranging appeared first on Tradeo Blog. Social trading Regulation And License. Sign in Sign up. Learning center Home Learning center News and analysis post When cryptocurrency market approaching $400 billion as bitcoin tests $9000 are young, work to learn, not to earn. Market News Technical Analysis. Cryptocurrencies and Forex Analysis April 4th: Euro still ranging 04 April, - Uptrend Yesterday, we saw a small drop of about 35 pips.
Gold, Daily cryptocurrency market approaching $400 billion as bitcoin tests $9000 Bias: Uptrend What we saw yesterday was the precious metal falling about 90 pips. Bearish, 4-Hour timeframe Similarly to Bitcoin, Ether is trying to push up. Wishing you Happy and Successful Trading! You may also like Cryptocurrency market approaching $400 billion as bitcoin tests $9000 Brief May 3rd: CNBC reports that oversight watchdogs with regulation ove.
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