Go out, enjoy your sundays. Dont get chopped up. There are more important things in life than benjamin franklin. Your mental and spiritual health for example.
Asia market recap:
- In a break from the strong market volatility prompted by anticipation about aggressive Federal Reserve interest-rate hikes to combat inflation, most Asian stocks rose and US equity futures stabilised.
- Though a number of markets, including China's, are closed for the Lunar New Year holiday, an Asia-pacific stock index gained for the second day. Hong Kong's technology equities have risen, despite the fact that the session has been cut short.
- The dollar remained relatively unchanged, while the Yen declined. The yield curve flattened as treasuries fell. Bond investors are bracing for further volatility as the Federal Reserve and other central banks reduce post-pandemic support.
- Meanwhile, crude oil prices rose, owing to concerns that a Russian invasion of Ukraine could disrupt energy supplies. The price of gold continued to fall. Bitcoin has dropped to roughly $37,000, a 20% loss from the beginning of 2022.
- In a break from the strong market volatility prompted by anticipation about aggressive Federal Reserve interest-rate hikes to combat inflation, most Asian stocks rose and US equity futures stabilised.
- Though a number of markets, including China's, are closed for the Lunar New Year holiday, an Asia-pacific stock index gained for the second day. Hong Kong's technology equities have risen, despite the fact that the session has been cut short.
- The dollar remained relatively unchanged, while the Yen declined. The yield curve flattened as treasuries fell. Bond investors are bracing for further volatility as the Federal Reserve and other central banks reduce post-pandemic support.
- Meanwhile, crude oil prices rose, owing to concerns that a Russian invasion of Ukraine could disrupt energy supplies. The price of gold continued to fall. Bitcoin has dropped to roughly $37,000, a 20% loss from the beginning of 2022.
The hourly chart displays a local range bound movement defined by key pivot levels between 36.9k USD and 37.9k USD. As always, a strong breakout outside these levels should have short-term implications unfold in the direction of the breakout.
Supply zone is defined by Supply block of previous highs in 38.3-38.7k USD. Because this zone is nearly located to 37.9k USD pivot resistance, it is fair to assume 37.9-38.7k USD to be of the biggest strength for bears. Hence, it would make little sense, if you are a short-term trader, to open long positions right into the supply given above.
The resistances defined by the price action of bitcoin are given as follows:
43000
38750
37657
Supply zone is defined by Supply block of previous highs in 38.3-38.7k USD. Because this zone is nearly located to 37.9k USD pivot resistance, it is fair to assume 37.9-38.7k USD to be of the biggest strength for bears. Hence, it would make little sense, if you are a short-term trader, to open long positions right into the supply given above.
The resistances defined by the price action of bitcoin are given as follows:
43000
38750
37657