Jul 26, 2021 Forex News
It looks like Bitcoin has started a new phase of growth. Bitcoin price forms the sixth bullish daily candlestick in a row. At the same time, in 6 days the price of Bitcoin increased by almost 30%. At the time of publication, the BTC/USD pair is trading at around $38000. Today, the bulls even tried to push the price up to $40000. Bitcoin recorded a high of around $39850.
If you look at the price chart of the BTC/USD pair, you can see that the bulls activated after the price of Bitcoin rose above $32000. The price has broken upward through the border of the descending price channel, which it has been since the beginning of July. Bitcoin price is forming an uptrend on the 4-hour chart. It provides support in the region of $36000.
An unsuccessful attempt to raise the price above $40000 showed that this level provides enough resistance. The bulls will not be able to pass it the first time. A successful breakout of the $40000 level will provide Bitcoin with a new bullish rally. In this case, the BTC/USD pair may rise to the area of $42500.
If the bulls fail to close the daily price above $39500- $40000, we may see the bears activating. In this case, the BTC/USD pair may start a bearish correction towards the support level of $37500.
Despite the strong growth, investors are still wary of the market. At the same time, the index improved from extreme fear to simple fear. This means that this growth instills confidence in investors, but it is still a long time before the state of the market returns to what it was a few months ago.
Despite the short-term effect of rumors that Amazon was going to accept Bitcoin this year and the subsequent pullback, the BTC/USD pair was able to find support in the area of $36500 and start a new rally. As a result, today the BTC/USD pair was able to rise
Mar 2, 2023 Forex Forecast
Dear clients, Please note that due to Independence Day celebrated in the USA on 4 July 2022 you may experience the following changes: Monday, July 4rdMetal CFDs: trading closes at 21:30. Indices CFDs: Europe 50 (#ESX50): trading closes at 23:00; France 40 (#FCHI): trading closes at 23:00;
Jul 1, 2022 Company News
On March 13th, 2022 TenkoFX will switch its trading servers 1 hour ahead, from GMT +2 to GMT +3. The change will affect all types of TenkoFX trading accounts. In ECN, STP accounts summer time will take effect starting with the market opening on Monday, March 14th, 2022. In Crypto
Mar 10, 2022 Company News
Dear Clients, Please note that due to President’s Day in the US on February 21, 2021, trading hours for some financial instruments will be changed as follows: Spot commodities CFD:Gold (XAUUSD) - trading ends at 21:30;Silver (XAGUSD) - trading ends at 21:30;US Crude (XTIUSD)
Feb 14, 2022 Company News