Oct 28, 2020 Forex News
Everyone knows that when Bitcoin whales make large transactions, the price of Bitcoin changes. Thus, they have an impact on the price. However, soon there may be more such Bitcoin whales and the price of Bitcoin may become regulated. Glassnode has presented a report that demonstrates that the number of addresses that own more than $1 million in Bitcoins is growing, and currently, their number has exceeded 20 thousand. Their number increased significantly during the last rally. This, incidentally, may indicate that the price has reached the top of the rally.
As practice shows, when the market demonstrates such a sharp growth (the price has grown by almost 23%), it is followed by a short-term correction. Such a correction is most often caused by profit-taking.
The RSI technical indicator confirms the possibility of a correction.
At the same time, it should be noted that if earlier the majority of the Bitcoin market was made up of futures, now, after the fall of BitMEX, spot transactions make up most of the market. Therefore, it is likely that investors will not rush to fix profits around $13900 and will wait for the breakdown of this resistance. This level prevented the bulls from pushing the price higher in June last year.
It should be noted, however, that the Bitcoin price has practically no resistance above the level of $13900. Therefore, if the resistance level is overcome, the pair BTC/USD may reach a new maximum.
In the current situation, analysts assume that in the case of a correction, the pair BTC/USD will not fall below $12500.
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