FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURUSD and AUDUSD) for the day)
The breakdown of FTX will cast a longer-standing impact on the market, as a series of unstable signs are detected.
Binance has stopped accepting FTX's FTT tokens on its platform after the latter's bankruptcy filing.
NCSOFT invested in Mysten Labs for its plans to add NFT and blockchain features in its 'Lineage W' game and expansion.
FxWirePro- BTCUSD Predictions
BTCUSD is trading weak for a second consecutive week on the hawkish Fed Chairman speech. The demand for riskier assets like Bitcoin and stocks decreased on hopes of a 75 bpbs rate hike by the ECB in the next monetary policy meeting. The surging US treasury yields also put pressure on BTC at higher levels.BTC hits a low of $19526 and currently trading around $19916.
Factors to watch for Bitcoin price action-
US markets -
NASDAQ (positive correlation with BTC)- Bearish (negative for BTC). The index dropped more than 10% from a minor top of 13727. Any close below 12000 confirms a bearish continuation.
US bond yields (Bullish)-Negative for BTC. US 10-year yield gained more than 25% from the recent low of 2.51%.
Major support- $19000. Any Break below will take to the next level at $17500/$15800 is possible.
Primary supply zone -$20600. The breach above confirms minor bullishness. A jump to the next level of $220000/$23020/$23530/$24500/$25400/$30000 is possible.
Secondary barrier- $33000. A close above that barrier targets $37000/$4000.
It is good to sell on rallies around $21000 with SL around $22500 for TP of $15800.