FxWirePro: GBP/USD slips lower as dollar firms after Warsh comments 
FxWirePro- Woodies Pivot (Major) 
FxWirePro: GBP/NZD trades flat as markets await warsh’s jackson hole speech 
JPY Major Currency Score: NZDJPY and AUDJPY Lead with Extremely Bullish Momentum 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro- Major Crypto levels and bias summary 
FxWirePro- Major Pair levels and bias summary 
FxWirePro: GBP/NZD uptrend loses steam, remains on bearish path 
Add as a preferred source on Google
BTCUSD trades below $60000 on weak institutional demand. It hit a low of $57713 and is currently trading around $58662.
Based on SoSoValue statistics, U.S. spot Bitcoin ETFs saw net outflows of about $226.8 million last week, therefore extending their six-week streak of outflows. Although this reflects a continuous trend of redemptions, the rate has slowed dramatically from that of earlier weeks in January, when there were outflows of $1.72 billion and $1.22 billion, respectively. Though things have lately improved, the total outflow over the last six weeks has topped $5.94 billion, with BlackRock's IBIT apparently contributing a lot to this. Though the lower weekly amount may signal that capitulation is starting to slow rather than speed up, this ongoing outflow points to ongoing weaker demand from conventional investors, hence impacting Bitcoin's price momentum.
|
Technicals |
CMP -$58621 |
Trend |
|
|
1- Hour chart |
Value |
|
|
|
55 EMA |
$60594 |
CMP<55 EMA |
Bearish |
|
200- EMA |
$64576 |
CMP <200- EMA |
Bearish |
|
365- EMA |
$67610 |
CMP<365 EMA |
Bearish |
Major support- $57700/$52796. Minor bullishness only above $63500. Any break above targets $67000/$70000/$72200/$74950/$78000/$80000.
|
Momentum indicator (4-hour chart) |
Inference |
Value |
|
CCI(50) |
Bearish |
-103.20 |
|
ADX |
Bearish |
Strength increased from 38.94 and 48.49 |
It is good to sell on rallies around $63000 with an SL around $67000, for a TP of $50000.
