• Add
    Company

Where Bitcoin will go next step?

Olymp Trade

After Fed raised interest rate to 1.5%, investors speculate sold out. In my opinion, the interest rate may keep dollar steady in middle term and long term. But in short term greenback may move sideways against major currencies.
I suggest listening Head of BoC speech because it may supporting Canadian dollar steady. Loonie may move between 1.2900- 1.2660 points*. If U.S. dollar close lower than 1.2650 Canadian dollar, Loonie may begin bearish trend.
The better forecast of production market in Japan may support yen to rise up against U.S. dollar. Tankan large manufacturers index and large non-manufacturers index (4th quarter) at 06.50 a.m. predicted higher so it may support Nikkei and yen to edge higher, if the actual is good. I suggest 111.50 as a support line for USD/JPY.
Stock market in Thailand may stay in green zone by strong buy from LTF-RMF so it may break 1720 points. In my opinion, If SET can close higher 1720 point*. SET may start the bullish trend.
According to the weaker U.S. dollar, gold price may rise up. I think may possible rise to 1280USD but if it cannot break this level, it may fall. In contrast, if gold price can close higher 1280 points, it may change trend.
Bitcion is a “highly speculative asset” said Janet Yellen. Will this effect to bitcoin price? In my opinion, it may attract more investors in bitcoin now as new investors may think it’s really modern financial instrument which all significant people keep their eyes and comment. Bitcion price may rise to 20K, if it can close higher 17K*. However, I suggest investors to invest in Crypto currencies carefully.
*on 1 day Timeframe chart

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review

Source: https://olymptrade.com
Disclaimer
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}