Forex News December 10, 2021

#edgeforex #trading #market #stocks #money #usd #gold #forex #crypto #cryptocurrencies #law #bitcoin #fallen #covid19 #omicron bitcoin

  • Bitcoin’s dominance has fallen below 40%. After a dizzying surge since May, bitcoin prices have continued to suffer strong profit-taking. 
  • In the last 24 hours, the cryptocurrency market capitalization increased by 0.4 percent to 2.36 trillion. The Bitcoin Fear & Greed Index rose 1 point overnight to 29, indicating a major rebound from the December 6 lows of 16 points, but its still in the fear zone. 
  • Binance Coin, XRP, and Luna all gained between 4% and 10% in the last 24 hours, topping the increases among the major cryptocurrencies. 
  • The negative dynamics of the first cryptocurrency, which is losing more than any other of the top-20 currencies, have stifled growth. 
  • The pressure increased after the price surpassed $50,000, causing it to fall 1.7 percent in a day and 12 percent in seven days.
  • Bitcoin’s peak share decreases from cycle to cycle as more new participants arise. It was 87 percent at the start of 2017, but it is now less than 70 percent in 2019.
  • It should be noted that a continuous negative on Bitcoin has the potential to disrupt the whole crypto market; however, the gradual drop in price implies that aficionados are exploring for alternative ideas in the sector, rather than a mass flight out of it. 
  • Perhaps the greatest case for the entire market is wealth moving from one cryptocurrency to another.
  • The cryptocurrency fear and greed index fell from 29 to 24, plunging into strong fear zone.
  • The 200-day average for Bitcoin promises to be an important short-term indication for the market. 
  • Bitcoin is the world’s largest and first digital currency, founded in 2009 by the entity Satoshi Nakamoto. 
  • Bullish mood has prevailed and would presage further attempts to soar above $50K or $60K this month. A precipitous drop would formally pave the stage for a larger decline to $41,000 or possibly $30,000. 
  • ETHUSD has lost 6% in the previous 24 hours and is perilously near to the psychologically important $4000 barrier. The recent downward momentum moved the first cryptocurrency away from the 50-day moving average, and a larger correction is possible.

Plans to enhance quarantine for US visitors in Hong Kong • US to highest COVID-19 danger level. 

South China Morning Post with the headline An announcement might be made as soon as today. 

This is the first time that a country outside of Africa has been placed in the highest degree of risk. 

There’s nothing surprising here, but it’s a timely reminder that, despite good early signs, many Omicron concerns remain.


EURNZD: Head and shoulders reversal pattern.

Sellers are expected to be on the favourable side of the trade 

On a return to a bullish risk tone, the EURNZD pair is an intriguing pair. It’s one I’ve been keeping an eye on, and we can now see a nice reversal pattern that was pointed out to me. 

The EUR’s role as a financing currency resulted in shorts unwinding following Omicron variant worries. With those concerns dispelled and the ECN expected to stay dovish, EUR weakening should resume. 

The New Zealand dollar is a wonderful value and is set to go on a rate hike frenzy. If risk returns, the NZD should appreciate swiftly. 

The entry point is at the neckline’s break.

Leave a Comment