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  • Writer's pictureShivkumar

Cryptocurrency & Fx Market Analysis - 26th Jan


BTC

  • BTC $34,000 is a crucial level to hold and if it fails to hold these level than the next level will be $ 24,000.

  • FOMC meeting BTC will be volatile and will be high.

  • Even after recovery of BTC to $ 37,500 Jan 25 after the market was in a state of indecision.

  • The primary reason was uncertainty over the U.S. Federal Reserve’s plan to raise interest rates in the coming months which will be tentatively in March.

  • BTC Upside potential for Bitcoin is likely limited to the $45,000 to $47,000 and downside to $ 33,000 to $ 24,000.

ETH

  • The pair has provided a buying support between between $2,150 and $2,350.

  • A close above $2,450 will be bullish and below will be bearish. Uptrend we can see the rally up to $ 4000. But bottom is seen at $ 2160 and $ 2000.

XRP

  • XRP bulls can target $ 1.00 if the close is above $ 0.64 and below $ 0.50.

GOLD

  • Gold holds its bullish territory around $ 1850.

  • They have negated the fear of yield, FED rate hike, Ukraine-Russia geopolitical issues.

  • Gold has maintained its position as safe heaven investments.

  • A close above $ 1846 will have bulls target $1,877.

  • The immediate support below $ 1846, around $1,843 and $1,830, and near $1,823.

EUR/USD

  • The bears are in control ahead of FOMC and below 1.1300.

  • Markets are reacting to pre-Fed anxiety, Russia-Ukraine tension and IMF’s growth forecasts.

  • European Central Bank, rejects hawkish calls due to Omicron, adding to bearish bias.

The views and opinions expressed here are solely mine. Every investment and trading move involves risk, you should conduct your own research when making a decision. For analysis and investment contact +91-76000-48237.



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FOREX - CRYPTOCURRENCY

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