This Week In Forex, Crypto, And Stocks [Video]

Kiana Danial, CFP Invest Diva

Taking a Closer Look at BTC/USD

We actually identified a double top bearish reversal chart pattern in BTC/USD at the beginning of July, and the pair has also broken below the daily Ichimoku cloud.

In my book, Ichimoku Secrets, I explain how this could be a bearish indication. For more on Ichimoku strategy development, don’t forget to grab the PDF version of my book, Ichimoku Secrets.

On top of this, Bitcoin has generally been inversely correlated to the US stock market as many institutional investors have been using it as a hedge. With a potential rate cut by the Fed this week, the US stock could see further gains. Double down on that if the Fed hints on more cuts in 2019.

With that, the combination of technicals and fundamentals point to potential further declines for Bitcoin, to at least $8,792.

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Author

Kiana Danial, CFP

Invest Diva

Kiana Danial is an award-winning, internationally recognized personal investing and wealth management expert.

XRP steadies in narrow range as fund inflows, futures interest rise

Ripple is trading in a narrow range between $1.45 (immediate support) and $1.50 (resistance) at the time of writing on Monday. The remittance token extended its recovery last week, peaking at $1.67 on Sunday from the weekly open at $1.43.

Crypto Today: Bitcoin, Ethereum, XRP trade within range amid low retail interest

Bitcoin, Ethereum and Ripple continue to exhibit subdued volatility, consolidating within narrow ranges at the time of writing on Monday. Persistent low retail participation and weak technical structures limit the chances of any extended upside price movements.