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BITCOINS BULLISH BREAKOUT ALLOWS FOR GREATER GAINS... Bitcoin was extremely popular at the end of 2017 and is now in the shadows. What can we say about this crypto now slightly more than a year after the bubble burst? We are in a mid-term bullish correction, so I think that a good description would be: slowly but surely. Since the middle of December, BTC is, actually was, in a symmetrical triangle pattern (red lines). This formation has allowed the price to climb from roughly... 3,000 to around 4,000 USD. A year ago, nobody would bat an eyelid at a rise like this, but now it is something. The reason that we’re writing about bitcoin today is that the recent price movements allowed it to break a super important resistance. Two resistances, in fact. First one is the upper line of the aforementioned symmetrical triangle. The second one is the long-term downward trend line (the one connecting lower highs since February 2018). Although I am not a fan of this instrument, I have to admit that the current price action is positive. In theory, the most recent bullish breakout opens the way towards the long-term horizontal resistance at 6,000 USD. That would mean a 50% rise in value, which is quite good considering the latest volatility. That is the base scenario for now. The positive sentiment will be denied if the price comes back below the upper line of the triangle. That would mean a false breakout and would open the way towards the orange area, slightly below 3,000 USD.

GLOBAL STOCKS, FUTURES RALLY AND BITCOINS STRUGGLES ABOVE $4000. US futures, global stocks rally on risk-on shift Italian bonds leap forward on potential tweaks to budget, boosting the euro Falling Treasurys drag down the dollar, reducing pressure on oil...Continue reading

Stocks in focus in pre-market trade Friday: United Technologies (NYSE:UTX) stock rose 1.3% as of 8:21 AM ET (13:21 GMT) after the company received regulatory approval from China to purchase Rockwell Collins (NYSE:COL), which jumped 8%. Overstock.com (NASDAQ:OSTK) stock increased 7% after The Wall Street Journal reported that the company is expecting to sell its retail business by February.... Aurora Cannabis (NYSE:ACB) stock was down 1.44% after the company received its final regulatory approval to complete the acquisition of ICC Labs. Facebook (NASDAQ:FB) stock inched down 0.55% after news the head of George Soros’s philanthropic foundation asked lawmakers for oversight after the social media site hired a research firm to scrutinize Soros. Visa (NYSE:V) stock fell 0.31% while Mastercard (NYSE:MA) stock dipped 0.62% after the companies announced they are trimming merchant fees in Europe for card payments by tourists. Tesla (NASDAQ:TSLA) stock slipped 0.87% on news that the automaker is cutting the price of its Model X and S cars in China. Apple (NASDAQ:AAPL) stock tumbled 0.62% as the company is effectively cutting the price of its iPhone XR in Japan by offering subsidies to mobile network operators.

4 REASONS WHY USD’s INCREDIBLY RALLY WILL LAST It was a great day to be long U.S. dollars. The greenback traded higher against all of the major currencies in a move that took USD/JPY to its strongest level in 11 months. The Australian dollar was hit the hardest by the dollar’s rise while sterling was the most resilient. Wednesday’s move was driven by the classic story of economic dominance. The largest economy in the world is growing the fastest. While economic reports from ...Continue reading

Bitcoin Fell Due to Regulatory & Sell Pressure, Will Recover Soon bitcoin price According to Jonathan Cheesman, a partner at investment firm Distributed Global, Bitcoin has fallen due to five major reasons: macro trend, speculative dominance, regulatory uncertainty, short selling, and scams....Continue reading