EUR/USD 1.18258
0.606%
Gold 4988.24
1.060%
Oil 61.059
2.474%
USD/JPY 155.783
-1.664%
GBP/USD 1.36409
1.029%
GBP/JPY 212.511
-0.635%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
January 25th - At the start of the new year, Beijing announced several policies to support the development of high-tech and cutting-edge industries. The Beijing Municipal Bureau of Economy and Information Technology announced the compilation of the first batch of implementation guidelines for high-tech and cutting-edge industry development projects and SME support funds for 2026, aiming to ensure a good start and rapid development of high-tech and cutting-edge industries in 2026. The first batch of implementation guidelines focuses on the annual key tasks in the high-tech and cutting-edge industry sector, as well as the long-term industrial vision for the 15th Five-Year Plan period. It emphasizes four key aspects: promoting innovation, accelerating transformation, improving quality and efficiency, and fostering growth. The planned investment exceeds 1.5 billion yuan to support more than 10 key industries, including integrated circuits, biomedicine, materials and energy, information software, and the digital economy.January 25th - According to the European-Mediterranean Seismological Centre, a 5.0-magnitude earthquake struck the southeastern waters of Easter Island, Chile, at 16:40 local time on the 24th, with a focal depth of 10 kilometers. No tsunami warning has been issued so far.January 25th - It was learned on January 24th local time that a US official revealed the next round of trilateral talks between Russia, the US, and Ukraine is expected to be held on February 1st in Abu Dhabi, UAE. Earlier that day, the trilateral talks in Abu Dhabi concluded. Ukrainian President Zelenskyy stated that the days dialogue was broad in scope, the discussions were constructive, and the focus was on the conditions for ending the conflict.Ukrainian President Zelenskyy: Following several days of talks, all parties agreed to report to their respective capitals on all aspects of the negotiations and coordinate follow-up steps with their leaders. The military has drawn up a list of topics that may be discussed at the next meeting. If all parties are ready to move forward with the negotiations—and Ukraine is ready—the next meeting will be held, possibly as early as next week.US President Trump: The United States has retrieved oil from the seized Venezuelan oil tanker. The Venezuelan oil will be shipped to the Houston refinery.

Early Support for ETH and BTC, with US Economic Indicators in Focus

Alina Haynes

Nov 03, 2022 19:39

 截屏2022-11-03 下午7.34.53.png

 

Wednesday saw Bitcoin (BTC) and Ethereum (ETH) join the larger market in the red. The NASDAQ Composite Index, Bitcoin, and Ethereum all fell in response to Fed Chair Powell's news conference. Nevertheless, the technical indications continue to be optimistic, indicating upward price trends. On Wednesday, Ethereum (ETH) fell 3.80%. Reversing Tuesday's gain of 0.32%, ETH closed the day at $1,518.

 

After a turbulent morning session, ETH recovered to a high of $1,622 by late afternoon. ETH surpassed the First Major Resistance Level (R1) at $1,606 prior to falling to a late low of $1,506. ETH ended the day below $1,520 after breaking through the First Major Support Level (S1) at $1,556 and the Second Major Support Level (S2) at $1,535.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

On Wednesday, the price of bitcoin (BTC) plummeted by 1.63 percent. BTC ended Tuesday at $20,165, a decrease of 0.04% from its opening price.

 

BTC rose to a high of $20,817 in response to the FOMC Statement, following a range-bound morning. BTC surpassed the First Major Resistance Level (R1) at $20,686 before falling to an intraday low of $20,086. BTC went below the First and Second Major Support Levels (S1 and S2) at $20,327 and $20,154, respectively.

 

In accordance with forecasts, the Fed raised rates by 75 basis points on Wednesday. The FOMC Statement hinted at a likely policy move in December, lending credence to December Fed pivot wagers. The Rate Statement pushed BTC and ETH to their daily peaks.

 

However, Fed Chair Powell dashed prospects for a reversal, citing excessive inflation and the need to continue forward. Powell remarked that the "final level of interest rates will be higher than anticipated."

 

As a result, the NASDAQ Composite Index fell 3.36 percent, sending BTC and ETH into the negative.

 

Today, attention will be on US factory orders, jobless claims, and the ISM Non-Manufacturing PMI. We anticipate the PMI and its subcomponents to have the most effect.

 

Due to the sensitivity of BTC and ETH to US economic statistics and the FED, the correlation with the NASDAQ Composite Index remains intact. The NASDAQ 100 Mini was up 35 points this morning.


Suggestion