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Market Picture The cryptocurrency market went on to break previous peaks at the end of August, adding over 2.8% in 24 hours to reach 2.29 trillion, a high of almost two months. This rise confirmed the breakdown of the downtrend from the March peak after a higher local low in August. We foresee an easier […]

The post Crypto Market and Bitcoin Break the Months-Long Downtrend appeared first on Action Forex.

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29/03/2024

Bitcoin Doesn’t Fit the Downtrend Now

Market picture The crypto market capitalisation rose 1.4% in 24 hours to $2.66 trillion. Buyers stepped in the night before when Bitcoin touched $68.5K and pushed the price up to $70.7K at the start of active trading in Europe. Bitcoin was rocked on Wednesday, first pushing the price above $71.8K and then dropping to $68.5K. […]
25/01/2024

USDJPY Dives Near 61.8% Fibonacci

USDJPY fails to surpass 148.50 resistance Rebounds off 140.20 still intact However, RSI and MACD suggest negative correction USDJPY has been struggling to surpass the 148.50 resistance level over the last five days after the upward movement from the 140.20 support level. The pair is still holding above the 61.8% Fibonacci retracement level of the […]
19/02/2024

The Weekly Bottom Line: Inflation Progress Stalls and Spending Falls in January

U.S. Highlights U.S. inflation rose more than anticipated to start the year, on a Consumer Price Index basis, largely due to greater price pressures within the services sector. However, retail spending surprised to the downside in January, suggesting that consumer spending may be less vigorous than the stunning pace of last year. A slowdown in […]