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Last week, Ethereum (ETH) took a leadership position breaking-out of the recent low volatility period evident in many major cryptocurrencies. This week, Bitcoin (BTC) followed suit and convincingly broke out of a 12-week consolidation. BTC had attempted to break out six weeks ago but failed. Though BTC investors witnessed what is known as “bull trap,” prices ceded little ground and held support. The current breakout is different in that both price and volume have seen rapid expansion, suggesting higher odds of staying power.
Tuesday, the U.S Federal Reserve convened. Chairman Jerome Powell showed little signs of abandoning his “Dovish” stance on interest rates by saying, “You should not expect the Fed will cut back on its emergency facilities for a very long time.” Gold and silver, which have been on a tear recently traded in a volatile manner before giving up short lived gains. Meanwhile, the initial impact on crypto seemed to be limited.
Next week, cryptocurrency investors will watch to see how the Bitcoin (BTC) break out holds. The $10,000 area will be the critical level.
Meanwhile, the Ethereum (ETH) breakout has been unquestionable. ETH is now well above $250 break out zone. Bulls will want to see price digest.
Money is flowing back into stocks as investors hope for a better inflation report this week. The S&P 500 rose 1.9 percent between Friday, May 3, and Friday, May 10. It was the third straight positive week. More than...
Options are an important tool for many retail investors. They can either replace trading shares, or make it easier to position oneself in stocks. Let’s consider the first things options traders need to know. An Option’s Price Is Usually Called ‘Premium’ ...
Options are complex instruments that can swing sharply in value. Traders may find the moves confusing, so this article will help explain key "Greeks" -- some of the most important factors impacting the price of options. Greeks are Greek letters used in complicated...