Bitcoin increasing exponentially?

Bitcoin increasing exponentially?

If you look at the graph below you can see that the answer for the big bitcoin queston is YES. Similarly to gold, there are no fundamentals underpinning the value of bitcoin. There is no cash flow, dividend or interest, or cash need of an economy in the background. However, it became so popular among traders, miners and so on that we decided to analyze the current market conditions. The lack of fundamentals allows us to apply purely technical analysis. However, as interest rates are expected to increase at a moderate pace in the major economies and the supply of bitcoins is scarce, speculative demand may continue to outpace supply for a while. The big question is that what happens after an exponential move? There should be a major correction and after that a consolidation phase. What happen after that is much more uncertain. It depends on the future of bitcoin as well as the current fate of the current bull market where...
Read More
Forex robots help you to trade the Turkish lira depreciation

Forex robots help you to trade the Turkish lira depreciation

It is not late to get on the train of a massive Turkish lira depreciation with the help of our Forex robots. The lira has lost around one third of its value between January 2016 and early 2017 which was followed by a correction until September. The depreciation of the lira has resumed since then and on Tuesday broke above its previous high. Our forex robots take this as a strong sign that the lira will continue to depreciate in the coming months. You just have to find the best entry points to ride the lira trade well. Our forex robots will warn you to close your position to avoid corrections and will send you a notice to reopen your positions when the technical setting shows that the trend is ready to resume. What is happening in Turkey? Before you start to trade the depreciation of the lira with our forex robots let’s take a look at the fundamental picture. This ensures that the current...
Read More
Key data may move the Euro

Key data may move the Euro

The euro's correction maybe over Hard data shows that the Eurozone economy have never been in a better shape since the crisis. This is also reflected in the renewed strengths of the euro since the beginning of this year. Most euro analysis contended during the summer that the appreciation of the European currency will hurt the continent’s economy. Recent data, however, showed that European growth has stable foundations. On Tuesday (14th November) important data will be published by statisticians which may either prove or refute the idea of a healthy and strong European recovery. First, German HICP inflation and three hours later European GDP growth volumes along with the German ZEW index will be published followed by a speech by Mario Draghi. Looking at the technical picture, the euro is correcting its previous runup since the beginning of September. This, however, seems to be just a shallow correction so far, breaching only the 23.6% Fibonacci support level after dovish comments by Mario Draghi on...
Read More
What about the bitcoin trade?

What about the bitcoin trade?

Similarly to gold, there are no fundamentals underpinning the value of bitcoin. There is no cash flow, dividend or interest, or cash need of an economy in the background. However, it became so popular among traders, miners and so on that we decided to analyze the current market conditions. The lack of fundamentals allows us to apply purely technical analysis. The chart below shows that according to both the Fibonacci retracement and the Fibonacci expansion levels there was a resistance near the 7900-dollar level which prevented the price of Bitcoin to continue rallying. However, as interest rates are expected to increase at a moderate pace in the major economies and the supply of bitcoins is scarce, speculative demand may continue to outpace supply for a while. So let’s see where bitcoin may find a support and turn to the upside. From the 50 percent Fibonacci retracement level, which was also the support of the previous correction, the price bounced back quickly above the 38.2...
Read More
12