Financial market overview

Gold and Bitcoin on the Move

2022.12.14 08:03

[ad_1]

Naeem Aslam

Gold and Bitcoin on the Move

Gold

Gold thoroughly enjoyed the gains on the back of the ‘s weakness, which is sitting near the five and half month low. Traders are more optimistic about gold prices as there are fewer chances for the dollar index to score more gains from here onwards.

The reason is that the Fed’s tools have worked in fighting , and now the time has come for the Fed to scale back on its efforts to fight inflation. This could make the dollar index weaker, and that could keep gold prices firmly above the 1,800 price mark.

This price level is highly important for traders as they know that if the price is going to move higher, gold traders must cement the support of 1,800 for higher highs.

Bitcoin

also did see some solid gains. Traders paid more attention to the US CPI data than what is happening with the co-founder of FTX, who finally got arrested yesterday. There is no doubt that BTC prices are oversold no matter which metric you look at when it comes to technical price analysis.

The price could move higher, and we could see the price moving above 20K before the year’s end if the current momentum continues. The one major challenge for the price action is its 50-day SMA, whose price may break today. The move above this moving average could indicate more power shifting to the bulls.

[ad_2]

Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 82,074.99 1.66%
ethereum
Ethereum (ETH) $ 1,893.43 0.90%
tether
Tether (USDT) $ 1.00 0.00%
xrp
XRP (XRP) $ 2.29 2.52%
bnb
BNB (BNB) $ 581.02 0.54%
solana
Solana (SOL) $ 124.76 0.36%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.709859 1.46%
dogecoin
Dogecoin (DOGE) $ 0.168219 0.86%
tron
TRON (TRX) $ 0.223799 0.51%
staked-ether
Lido Staked Ether (STETH) $ 1,889.86 0.76%
pi-network
Pi Network (PI) $ 1.68 1.67%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,806.92 1.75%
leo-token
LEO Token (LEO) $ 9.72 0.34%
chainlink
Chainlink (LINK) $ 13.33 0.79%
stellar
Stellar (XLM) $ 0.272438 2.44%
usds
USDS (USDS) $ 1.00 0.05%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,260.46 1.19%
hedera-hashgraph
Hedera (HBAR) $ 0.188737 3.49%
avalanche-2
Avalanche (AVAX) $ 18.61 0.90%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 2.63%
the-open-network
Toncoin (TON) $ 2.80 3.07%
sui
Sui (SUI) $ 2.18 3.28%
litecoin
Litecoin (LTC) $ 88.80 1.06%
bitcoin-cash
Bitcoin Cash (BCH) $ 326.88 3.87%
mantra-dao
MANTRA (OM) $ 6.24 3.56%
polkadot
Polkadot (DOT) $ 4.03 1.63%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.01%
weth
WETH (WETH) $ 1,894.47 0.93%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 0.999741 0.03%
bitget-token
Bitget Token (BGB) $ 4.22 0.65%
hyperliquid
Hyperliquid (HYPE) $ 13.32 4.32%
whitebit
WhiteBIT Coin (WBT) $ 28.14 1.46%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,010.89 0.93%
monero
Monero (XMR) $ 207.85 0.25%
uniswap
Uniswap (UNI) $ 5.88 0.68%
susds
sUSDS (SUSDS) $ 1.04 0.05%
near
NEAR Protocol (NEAR) $ 2.63 2.49%
dai
Dai (DAI) $ 0.99982 0.01%
aptos
Aptos (APT) $ 5.13 0.05%
pepe
Pepe (PEPE) $ 0.000007 1.44%
ethereum-classic
Ethereum Classic (ETC) $ 18.17 2.38%
ondo-finance
Ondo (ONDO) $ 0.837382 1.87%
internet-computer
Internet Computer (ICP) $ 5.51 0.06%
okb
OKB (OKB) $ 41.93 0.76%
gatechain-token
Gate (GT) $ 20.51 1.72%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 82,093.00 1.54%
aave
Aave (AAVE) $ 163.69 5.00%
mantle
Mantle (MNT) $ 0.725955 2.96%
official-trump
Official Trump (TRUMP) $ 11.62 7.62%