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In our previous analysis of Bitcoin’s price (dated 4 April), we: → outlined a long-term ascending channel (marked by blue lines); → noted signs suggesting a potential bearish breakout below the channel’s lower boundary. Since then, bears indeed managed to push the price (as shown by the arrow) below the channel’s lower line – driven […]

The post BTC/USD Analysis: Bitcoin Price Faces Key Resistance appeared first on Action Forex.

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07/03/2024

Dollar Index (DXY) Should Continue Lower

Short Term cycle in Dollar Index (DXY) shows an incomplete bearish sequence from 2.14.2024 high favoring further downside. Down from 2.14.2024 high, wave 1 ended at 103.43 as an impulsive structure. Wave ((i)) ended at 104.18 and wave ((ii)) ended at 104.67. Wave ((iii)) lower ended at 103.79 and rally in wave ((iv)) ended at […]
05/08/2024

Could Data Open the Door to RBNZ Cut Next Week?

Market in crisis mode after Friday’s US labour report An RNBZ rate cut could be on the cards if data weakens China’s problems hamper progress in the region Kiwi in desperate need of good data prints Markets in disarray With the market digesting last week’s events, especially Friday’s US labour market report that triggered discussions […]
08/01/2025

Fed Hawks Getting Louder

Good news were bad news yesterday and they even wiped out the optimism that Nvidia initially created around AI with the announcement of new products. When Jensen Huang took stage at the opening of the CES this week, he didn’t only show off the company’s new products like the new $3000 personal AI supercomputer and […]