By CCN Markets: The Dow and broader U.S. stock market advanced on Thursday, as investors found a silver lining in the recent string of downbeat data releases. By this time next week, markets will have a clearer picture of whether the Federal Reserve will indeed lower interest rates at its end-of-July policy meeting. Dow Rises; S&P 500, Nasdaq Follow All of Wall Street’s major indexes reported gains on Thursday. The Dow Jones Industrial Average rose by as much as 142 points before backtracking later. It was last up 67.17 points, or 0.3%, at 26,072.00. The broad S&P 500 Index of
The bitcoin price sought to end the weekend on a high note, bouncing back past the $ 4,000 level after sinking to a new yearly low earlier in the day. The flagship cryptocurrency had plunged as low as $ 3,456 on Coinbase, a move that came less than one day after BTC/USD fell below support at $ 4,000
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The bitcoin price on Wednesday showed signs of recovery after two weeks of massive selling action. The BTC/USD rate surged as much as 7 percent to establish an intraday high at 4645-fiat. The pair consolidated above 4500-fiat for a brief time but lost steam ahead of the US trading session, creating lower highs towards 4241-fiat.
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The price of Litecoin (LTC), the cryptocurrency often considered the silver to Bitcoin’s gold, recently bounced off a major technical support line after staging a full retrace from last year’s incredible bull run. Last week, Litecoin broke through $ 50, hitting a 12-month low of roughly $ 47.5, which was last seen in September of 2017. However, several major […]
Bitcoin is making a slow and steady recovery toward $ 7,000. Has bearish market sentiment alleviated? Or, are the current gains simply the result of a market-wide oversold bounce?
On Thursday, BTC broke through the $ 6,450 resistance and proceeded to reach a weekly high just shy of $ 6,600. This was prior to a brief pullback to $ 6,400. The weekly chart shows Bitcoin (BTC) 00 about to set a higher low. After last week’s break from this pattern, a few more weeks of higher lows will be required to determine if a trend change is in order.
Leveraging technicals in cryptocurrency trading can be extremely difficult, especially when the market is so often driven by fundamental events that can quickly change the entire charting landscape. However, there are times where certain technicals can help guide swing trades, especially when looking at relative support and resistance points on the charts of key cryptocurrencies. Here, […]
Bitcoin (BTC) might finally be out of the woods this time as its price finds support at the 200 EMA on the weekly chart for BNC:BLX above in addition to its previous resistance turned support as well as the $ 5,800 support. This confluence of supports makes it very difficult for the bears to push the price lower from current levels. RSI is already trading in a falling wedge and is all set to break out of it in the weeks to come.
The cryptocurrency markets have shown early signs of a bullish momentum shift following several months of heavy selling pressure. After losing upwards of 75% to 85% and forming ‘adam-and-eve’ style double bottoms, many leading cryptocurrency markets have produced significant bounces over the course of the last fortnight. The markets now appear poised in ‘open air’ – with either a retest of recently broken descending trendlines or further bullish momentum toward 23.6% retracement areas comprising the likely next moves for price of leading cryptocurrencies.