Bitcoin breaking 30K and on its way to 26K
|Today’s market risk is primarily focused on the ECB Lending Survey – In Q3, banks forecast a net rise in demand for loans from both businesses and consumers.
Also, China’s fiscal revenue growth is expected to decrease significantly in H2 of this year according to China’s Finance Ministry.
During today’s live stream Dale displayed a potential 3 Drive Falling Wedge on BTCUSD. The Speed Line comes in at around the 26K area. Moreover, USDCHF continues to fail to make new highs while the EURUSD is making new lows. Therefore, Dale has a preference for counter trend scalping the USDCHF as he believes 0.9050 to be a viable level.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.