Bitcoin and altcoins hold well and didn't give up much ground on the last day of September. How are we starting the last quarter of the year? Don't miss our crypto market analysis.
The United States equities markets have been under a firm bear grip for a large part of the year. The S&P 500 and the Nasdaq Composite havefor three quarters in a row, a first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on track to record its worst September since 2002. These figures outline the kind of carnage that exists in the equities market.
Let’s study the charts of the S&P 500 index, the U.S. dollar index and the major cryptocurrencies to determine if a recovery is on the cards.The S&P 500 index has been under intense selling pressure for the past few days but the bulls have held their ground. This indicates that bulls are buying the dips near $3,636.The first resistance on the upside is $3,737. If bulls thrust the price above this level, the index could rise to the 20-day exponential moving average .
The bears are likely to have other plans. They will try to extend the downtrend by sinking and sustaining the price below $3,636. If they manage to do that, the index could plummet to $3,500 and later to $3,325.The U.S. dollar index surged to $114.77 on Sept. 28, which pushed the relative strength index into deeply overbought territory. This may have attracted profit-booking by the short-term traders that pulled the price near the 20-day EMA .
On the other hand, if the price turns up from the current level or rebounds off the 20-day EMA, it will indicate that the bulls continue to buy on dips. Buyers will then again attempt to thrust the price above $114.77 and resume the uptrend. The next target objective on the upside is $118.Bitcoin bounced off the strong support at $18,626 on Sept. 28, indicating that the bulls continue to fiercely defend this level.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin price due ‘big dump’ after passing $20K, warns traderBitcoin is due to crack $20,000, but bulls should not trust BTC price strength, analysis concludes.
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data.tradingview's $USD Liquidity Condition Index slipped to a 19-month low of $5.7 trillion. Plus, September has been a historically bad month for $BTC– will the token bounce back in the coming weeks? Watch Chart of the Day, presented by cryptocom:
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data.sjtu1896 recently has been working closely with local governments to promote blockchain technology nationally. It ranks No. 12 on the CoinDeskUniversities list. EducationWeek, sponsored by atlasweb3group:
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price DataA blockchain project to support African farmers is one of the highlights of the blockchain research projects at BU_Tweets. It ranks 49th on the CoinDeskUniversities list. EducationWeek, sponsored by atlasweb3group:
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data.CarnegieMellon has an interdisciplinary approach to blockchain – and key industry sponsors. It ranks No. 22 on the CoinDeskUniversities list. EducationWeek, sponsored by atlasweb3group:
Read more »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data.UZH_en ranked as the highest for best reputation among both teachers and students on the CoinDeskUniversities list. Check the full list, as part of EducationWeek, sponsored by atlasweb3group:
Read more »