What happens to the first cryptocurrency? In the summer it seemed that the price would not go below $10,000, then for a long time it fluctuated around $8500-9500, and now it has confidently moved to the level of $6500.
BTC Chart of the day
Bulls, especially those who bought above 10k, were in a real panic. The moods of the miners were even darker. The general background is extremely negative.
However, even against this background, the BTC is still 2 times higher than at the beginning of the year. The only question is to what extent this money will be enough. Wednesday afternoon candlestick is indicative. We saw a strong reversal day. First the new lows, then the pair buyback at all round levels up to $6900.
Thursday is a very important day for us. If we see another upward movement of $200-300, the December lows are probably already behind us.
For 5 days in a row, the euro tested the resistance of the 200-day moving average. And not once in these five days, the pair could not close lower. This is an extremely strong bearish signal, which on Wednesday was recouped by massive sell-offs of the single European currency. There are 1.11 and 1.10 levels ahead. There is no good reason why we will not be able to see the Euro there before the end of the year.
The gold has frozen in time. It is no longer interesting to look at the chart. It seems that no event can push the yellow metal out of the corridor. Now everybody earns money on the counter trend strategy: they buy at the bottom and sell at the top. And the longer this uncertainty persists, the more traders earn. Naturally, this cannot last forever. The volatility spring is shrinking and we are waiting for a very powerful outflow of bulls or bears.
What awaits us today?
01.30 November unemployment rate in Australia
04.00 Resolution of the Central Bank of Japan on interest rate
13.00 Decision of the Bank of England at the interest rate
13.00 Publication of protocols of the Bank of England
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