您现在的位置是:Bitcoin diverges from the FX market and ignores the recent dollar’s strength >>正文
Bitcoin diverges from the FX market and ignores the recent dollar’s strength
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛5人已围观
简介Bitcoin diverges from the FX market and ignores the recent dollar’s strengthPositive momentum ...
- Bitcoin diverges from the FX market and ignores the recent dollar’s strength
- Positive momentum builds up
- Possible pennant formation points to a move above $30k
The US dollar reacted to the recent monetary policy decision in the United States and the strong economic data for January. As such, it gained against its peers, with the best example being EUR/USD.
The exchange rate dropped from above 1.10 more than three big figures (i.e., three hundred pips). But Bitcoin ignored the dollar’s strength.
Indeed, the price action corrected a bit, but that was pretty much all. Instead of correlating with the FX market, Bitcoin diverges as bullish conditions remain. Moreover, momentum builds up, with another leg higher possible.
Possible pennant hints at a move above $30k
Bitcoin builds momentum just below the main resistance. Back in the summer of 2022, Bitcoin failed at $24k.
It tried its hand three times in a row, lost the momentum, and made a new lower low in the last months of the year. But the 2023 rally erased all that weakness.
The consolidation below the resistance looks like a triangular formation. More precisely, like a pennant.
A pennant’s measured move is equal to the distance prior to the pennant, projected from the pennant. In other words, it points to above $30k, should Bitcoin overcomes resistance.
If Bitcoin leads the way for the dollar, it should be used as a benchmark for the FX market. Therefore, one should not be surprised to see the EUR/USD making a new high for the year and erasing all the NFP losses.
For Bitcoin to trade above $30k the dollar should not diverge. Hence, the chances are high for the dollar’s strength in reaction to the January NFP report to be transitory.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/5292.html
相关文章
FTX Collapse Opens the Door for Newcomers Like Metacade (MCADE) – Here’s Why
Bitcoin diverges from the FX market and ignores the recent dollar’s strengthThe FTX collapse has severely damaged trust amongst the crypto communityProjects that focus on commu...
阅读更多
Hedera price jumps as COFRA Holding joins Hedera Governing Council
Bitcoin diverges from the FX market and ignores the recent dollar’s strengthThe Hedera Governing Council has today announced that COFRA Holding has joined the Governing Council...
阅读更多
Beaxy Exchange suspends operations after the US SEC charges
Bitcoin diverges from the FX market and ignores the recent dollar’s strengthThe US SEC has filed several charges against the Beaxy Exchange.The exchange has consequently suspen...
阅读更多
热门文章
- Bitcoin Influencer Triggers Debate On DeFi
- Ethereum price prediction: Will ETH top the $2k level soon?
- bitFlyer Links Up With PayPal To Offer New Deposit Method
- JVH acquires Web3 social intelligence platform NFT Inspect
- New York AG’s Office Almost Losing Patience With The Constant Delays by Bitfinex and Tether
- Bittrex US files for Chapter 11 Bankruptcy
最新文章
Markets Where Crypto Usage is Highly Likely to Explode in 2023
Blockchain Pioneer Acquires International Fashion House Blk DNM
Bonk price has soared: prepare for a major dive
TORN price falls 50% after attacker drains Tornado Cash DAO
Report showing Binance.US unable to find bank partners in the US
Is PancakeSwap (CAKE/USD) bullish market over?