Bitcoin Rises After Fed Rate Hike
The reaction from crypto investors was largely muted as bitcoin and ethereum also dipped slightly before reversing course after Fed Chairman Jerome Powell spoke about the latest rate hike.
Crypto exchange CoinFlex floats plan for creditors to own 65%.
Cryptocurrency exchange CoinFlex has detailed a restructuring plan in which creditors will own 65% of the company, with a vote on the proposal coming over the next week.
BTC/USD exploded 1.6% in the last session.
The Bitcoin-Dollar pair rose 1.6% in the last session after gaining as much as 2.1% during the session. According to the CCI, we are in an oversold market. Support is at 17185.5117 and resistance is at 20533.5117.
The CCI is signaling an oversold market.
ETH/USD exploded 1.7% in the last session.
The Ethereum-Dollar pair skyrocketed 1.7% in the last session. According to the Stochastic indicator, we are in an oversold market. Support is at 1120.1867 and resistance is at 1452.1667.
The Stochastic indicator points to an oversold market.
XRP/USD exploded 6.4% in the last session.
The Ripple-Dollar pair skyrocketed 6.4% in the last session. According to the Stochastic-RSI, we are in an overbought market. Support is at 0.3536 and resistance is at 0.4523.
The Stochastic-RSI points to an overbought market.
LTC/USD skyrocketed 2.3% in the last session.
The Litecoin-Dollar pair exploded 2.3% in the last session. The Stochastic-RSI indicates an oversold market. Support is at 47.081 and resistance is at 57.521.
The Stochastic-RSI is signalling an oversold market.
Daily Economic Calendar:
US Baker Hughes US Oil Rig Count
The Baker Hughes Rig Count is an important business barometer for the drilling industry and its suppliers. Active drilling rigs consume products and services produced by the oil service industry. The US Baker Hughes US Oil Rig Count will be released at 17:00 GMT, the Dutch Gross Domestic Product at 04:30 GMT, Japan’s CFTC JPY NC Net Positions at 19:30 GMT.
NL Gross Domestic Product
The Gross Domestic Product is a measure of the total value of all goods and services produced by a country. The GDP is considered as a broad measure of economic activity and health.
JP CFTC JPY NC Net Positions
The weekly Commitments of Traders (COT) report provides information on the size and the direction of the positions taken. The report focuses on speculative positions.
UK CFTC GBP NC Net Positions
The weekly Commitments of Traders (COT) report provides information on the size and the direction of the positions taken. The report focuses on speculative positions. The UK’s CFTC GBP NC Net Positions will be released at 19:30 GMT, Canadas’s Retail Sales at 12:30 GMT, and Singapore’s Consumer Price Index at 05:00 GMT.
CA Retail Sales
Retail Sales measure the total receipts of retail stores. Monthly percent changes reflect the rate of change of such sales.
SG Consumer Price Index
The Consumer Price Index measures price movements by comparing the retail prices of a representative shopping basket of goods and services.
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