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DAX fights like a lion. Bitcoin already gave up

Tomasz Wiśniewski
Updated
DAX fights like a lion. Bitcoin already gave up

11k USD is becoming a nemesis for Bitcoin. Recent developments around this crypto pushed the price even lower, below the support on 10k USD – strong psychological barrier. With that breakout, we have high chances to see the 8,7k USD soon. As long as we stay below the 11k USD we don’t have any buy signal whatsoever.

DAX is doing everything possible to stay above the 11900 points. They are doing pretty well. A bullish engulfing pattern on a daily chart is still alive. One small obstacle ahead – 12275 points (navy blue). In the last few days that is a strong resistance. Only the breakout of this level can bring us a buy signal.

USDCAD locked inside if the sideways trend between 1.2865 and 1.299. So far, so good for the buyers and we generally think that the price should continue to climb up.

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This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis

This article was originally posted on FX Empire

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