Watchlist: Bitcoin, Gold and Dollar

Important News

  • The first trading day of the week was slow due to the lack of economic activity.
  • The market focus was on prices that had risen with Tesla’s announcement to the SEC the other day.
  • The parity, which started the day at $ 38,000, increased to $ 46,600 after Musk’s Twitter speeches. In the speeches, it was stated that Tesla has invested $ 1.5 billion in Bitcoin and that BTC will be accepted for future sales.
  • The major saw short-term gains as the dollar weakened.
  • It faced selling pressure here after rising as high as 1.2070. It closed the day in the 1.2050 zone.
  • at 1.3781, a few points below the annual peak.
  • sales pressure was high despite the oil rise on the side. rose above 0.77.
  • Valdis Dombrovskis, Senior Vice President of the EU Commission, stated that the EU economy will strengthen in the second quarter of the year, with the vaccination accelerating in the coming weeks.
  • The UK reported less than 100,000 new Covid-19 cases for the first time since November. 17% of the British population has been vaccinated at least once.
  • On the US side, the number of new cases is in a downward trend.
  • With the weakening of the dollar index, prices also started to rise. He closed the day in resistance in the region of 1838. Oil prices continue to rise. at $ 58 per barrel.

BTCUSD

In the Bitcoin / Dollar charts, which rose after Tesla’s announcement to the SEC last day, we recorded an increase from 38,000 to 47,000 in the same day. The fact that the first bullish wave has retreated only to the level of 23.6% fibonacci can be considered as one of the factors that shows the high upward momentum.

In the short term, the price is waiting to be tested on the downside 45,000 resistance as support. Below it is a playground up to 43,250 and 40,000 levels.

On the upside, psychological resistance is expected at 50,000 level above the 48,180 peak resistance, which is the highest price of the day. The latest resistance is fibonacci expecting 161.8% resistance at 51.550.

We can say that sales-oriented transactions involve a high risk rate due to their reverse trend nature. On the other hand, the advantageous areas for buying were around 34,700 and 43,060, the last two break regions. Entries at the current price may be considered low in terms of risk / earnings ratio. Therefore, evaluating purchases from withdrawals may offer more advantageous positions.

  • Resistors: 48.180 – 50.000
  • Supports: 45.000 – 43.060

DXY

It confirmed the OBO formation on the 1H charts in the past day and dropped to 90,700. For the index that finds short-term support in this region, the price action that will occur today is critical. The index expects psychological support at 90,700 and historical support at 90,631 below it. Below these levels, the playing field expands to levels 90,470 and 90,310. Therefore, the daily candle that will close below 90,630 will increase the selling pressure.

On the other hand, it should not be forgotten that the price is in a region with a high risk / profit ratio for buying-side transactions. If the price confirms the 90,700 support and there is a signal that it will continue to move, the purchases can be evaluated. Low timeframe reversal patterns and bullish candlesticks are required for this signal confirmation. In this scenario, the price awaits the upside resistances 90.812 – 90.950 and 91.110.

  • Resistors: 91,812 – 91,950
  • Supports: 90,700 – 90,470

NOTE

In the ounce gold / dollar parity, the price started to rise with the weakening of the dollar index. The momentum mismatch in the low timeframe signals that the bullish wave is weakening. It is necessary to close candles above the 1850 level to regain the lost momentum. On the upside, the price awaits resistances of 1850, 1855 and 1875, respectively. The price levels 1821 and 1808 await as minor support in a possible retracement move. If the weakness of the price is confirmed, short selling-oriented transactions will be advantageous in terms of risk / earnings ratio. Candles close above 1855 are required for the purchases to be advantageous.

  • Resistors: 1850 – 1875
  • Supports: 1820 – 1808
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Check Also

Bitcoin futures market mimics last year’s end

The new data shows that the open interest of the Bitcoin (BTC) futures market mimics …

Leave a Reply

Your email address will not be published. Required fields are marked *