The analysis of the long-term BTC/USD chart reveals a crucial point in Bitcoin’s price movement. The price of Bitcoin has been fluctuating within two distinct channels – a bullish channel and a bearish channel. The bullish channel, which originated from rumors of Bitcoin ETF approval in 2023, has been struggling to maintain momentum. On the
Technical Analysis
Gold has been facing a glass ceiling at $2525 an ounce on the spot market, struggling to break through for the past two weeks. However, a series of smaller pullbacks and more frequent rallies towards the resistance point to impressive buying pressure in the market. Over the past two weeks, a triangle has formed on
Gold has been holding a firm tone, remaining near its new all-time high as it awaits the release of the US PCE data. The metal’s strong position is attributed to factors such as strong demand, geopolitical tensions, and expectations for the Fed’s first rate cut in September. With a gain of approximately 22% since the
The euro has faced strong resistance at the 1.12000 level, leading to a correction down to 1.1100. This level has previously acted as support for the pair, creating a range-bound trading pattern between 1.1200-1.1090. The upcoming trading sessions hold the potential for different scenarios based on key technical and fundamental factors. If the price breaks