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On August 24th, at the Xiaomi Xuanjie chip technology communication conference, Xiaomi announced its new product plans. The Xiaomi 18 Fold, the top-of-the-line foldable screen flagship in the Xiaomi 18 series, will be the first to be equipped with the Xuanjie O3 chip, and the new phone is scheduled to be officially launched in September; the Xiaomi Mi Pad 9 Pro Max will also be equipped with the Xuanjie O3 chip at the same time.Iranian Deputy Foreign Minister: (Refuting former Israeli Prime Minister Bennetts claim that Irans military power has been dismantled) To deal with this Iran, the United States needs to launch the "largest financial attack in history" and mobilize "all American institutions and departments"? Is this a victory or a bitter admission of defeat?Ukrainian President Zelensky: We do not ask the United States to protect us, we only hope that they will provide us with the supplies we need to defend ourselves.On August 24th, Hauke Siemssen, interest rate strategist at Commerzbank, stated in a report that the bond market remains fragile due to persistently high oil prices and escalating fiscal concerns. "Global bond markets remain risky, with yield curves across all maturities testing multi-year highs." While the market consolidation this morning was encouraging, a sustained market reversal appears unlikely at present, as there are no easy solutions to the fundamental factors driving the current trend. Siemssen anticipates that this weeks US PCE inflation data and policy signals from the annual Jackson Hole symposium will provide new guidance for the market, and these data and the meeting "should be closely watched."On August 24th, Swissquote strategist Ipek Ozkardeskaya stated that the U.S. Treasurys purchase of bonds to suppress yields could prevent the market from fully pricing in inflation and fiscal risks, and could also limit the markets ability to fully react to the Federal Reserves policy decisions. Therefore, this could increase the difficulty for the Fed to pull inflation back to near its 2% target, which is precisely what Fed Chairman Warsh might want to avoid. She added that Warsh "doesnt want to look like a fool in front of the world." Ozkardeskaya indicated that this weeks Jackson Hole meeting may further clarify how the Fed will integrate with the governments policy plans.

Is Bitcoin Trying To Start A Reversal Around Current Levels?

Teddy Fairbank

Dec 22, 2021 09:56

There is a fair chance that 2022 may start in a great way for Bitcoin. Whether it will be good for all coins is a different concerns, we keep believing that active bi-furcation will start crypto markets as per our crypto forecast 2022. That stated, we likewise believe it is reasonable to begin switching to a more bullish stance for crypto as a short term 2022 forecast. That's since the very first signs of stabilization right above 47k in BTC show up. It's a little prematurely to tell but we should now in the next 3 to 4 trading days.

What is it that is attracting our attention on the Bitcoin chart?

Well firstly, the short term timeframe. Although not included in this article the shorter timeframe (which will be made available in our crypto investing research location today or tomorrow) shows solid indications of support right listed below 46k. It is tough to see, you need not only a skilled eye but also the ideal trendlines and chart structures. It is noticeable, and it is the very first useful sign given that mid-November.

 

Second, if we zoom out the everyday chart begins revealing the first part of the turnaround might be almost complete now. This does not imply that a huge bull run is imminent, on the contrary. A lot of hard work is needed, and above all the crucial 46-47k level needs to hold strong (bulls can only accept intraday wicks) in or below that level).

 

Here is the point: a turnaround has 3 parts. The downtrend, followed by a stabilization and next the start of the right part of the reversal. Only when this process is total can we reasonably anticipate a solid structure for a leg greater.

 

The first part of the reversal took 2.5 weeks to complete. Assuming that we are near the middle part we can also fairly anticipate that a good result will take another 2 weeks of base structure. Once again, present levels can not be violated.

 

We would not be shocked if BTC goes back to 56k in January just to test levels around 59-60k late in January. All this, obviously, assumes that international markets don't crash between from time to time. It's an essential presumption.

 

In our crypto investing research service we are preparing our regular charts updates in 30 unique coins. This comes with conclusions in which locations prospective chances may emerge, but also when to understand that to be protective.


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