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In our 28 January report, “Bitcoin Price Holds Above $100k. For Now?”, we highlighted the heightened volatility surrounding Trump’s inauguration. We speculated that major market players might have capitalized on this surge to lock in profits from long positions, potentially preparing for a bearish market phase. Since then, Bitcoin’s price has dropped by approximately 20%. […]

The post BTC/USD Analysis: Bitcoin Price at a Critical Support Level appeared first on Action Forex.

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22/04/2024

EURJPY Rallies Ahead of Key Market Events

EURJPY is preparing to test the recent 165.34 high The growing intervention threat is limiting the aggressive bullish appetite Momentum indicators maintain some degree of bullish tendency EURJPY is edging higher today with the bulls apparently preparing to challenge the recent 165.34 high following another false attempt by the bears to push this pair below […]
19/07/2024

USD/JPY Outlook: Bear-Trap Underpins But Recovery Still Faces Headwinds

USDJPY remains constructive on Friday and attempts to further extend Thursday’s strong bounce, with recovery being supported by signals of a double bear-trap, following a false break below pivotal Fibo support at 156.04 and thin daily cloud (spanned between 155.83 and 155.50). Rising and thickening daily cloud also underpins near-term action, however, headwinds are still […]
05/06/2024

USDCAD: Influence of Linear Regression Channel and BoC

Bullish Scenario: Buy above 1.3676 with TP1: 1.3699, TP2: 1.3720, and TP3: 1.3735, with an SL below 1.3665 or at least 1% of account capital. Apply trailing stop. Bearish Scenario: Sell below 1.3665 with TP1: 1.3623, with an SL above 1.3686 or at least 1% of account capital. Fundamental Analysis The BoC has maintained its […]