• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
According to The New York Times: Federal prosecutors have launched an investigation into Federal Reserve Chairman Jerome Powell over renovations at the Federal Reserve headquarters.Ukrainian military: Russia launched a nighttime airstrike on Kyiv.1. Monday: ① Data: Swiss December Consumer Confidence Index; Eurozone January Sentix Investor Confidence Index; China December M2 Money Supply Annual Rate (TBD); ② Event: G7 Finance Ministers Meeting; ③ Holiday: Tokyo Stock Exchange closed for Coming of Age Day. 2. Tuesday: ① Data: US 10-year Treasury auction winning rate and bid-to-cover ratio up to January 12; Japan November Trade Balance; US December NFIB Small Business Confidence Index; US December Unadjusted CPI Annual Rate, Seasonally Adjusted CPI Monthly Rate, Seasonally Adjusted Core CPI Monthly Rate, Unadjusted Core CPI Annual Rate; October New Home Sales Annualized Data; ② Event: Speeches by Fed Chairs Williams, Bostic, and Musalaim; South Korean President Lee Jae-myung visits Japan and holds a summit with Japanese Prime Minister Sanae Takaichi, until January 14; ③ Earnings Report: JPMorgan Chase. 3. Wednesday: ① Data: US weekly API crude oil inventories; US November retail sales month-on-month rate, US November PPI Q3 current account, October business inventories month-on-month rate, December existing home sales annualized data, weekly API and EIA crude oil inventories; China December trade balance; ② Events: EIA releases monthly Short-Term Energy Outlook report; 2026 FOMC voting members, Philadelphia Fed President Paulson, Fed Governor Milan, etc. deliver speeches; OPEC releases monthly oil market report; ③ Earnings reports: Bank of America, Citigroup, Wells Fargo. 4. Thursday: ① Data: UK November three-month GDP month-on-month rate, November manufacturing output month-on-month rate, November seasonally adjusted goods trade balance, November industrial production month-on-month rate; France December CPI final month-on-month rate; Germany 2025 full-year GDP growth rate; Eurozone November seasonally adjusted trade balance, November industrial production month-on-month rate; Canada November wholesale sales month-on-month rate; US initial jobless claims for the week ending January 10, January New York Fed Manufacturing Index, January Philadelphia Fed Manufacturing Index, November import price index month-on-month rate; EIA natural gas storage for the week; ② Events: Federal Reserve releases Beige Book; 2026 FOMC voting member and Minneapolis Fed President Kashkari, FOMC permanent voting member and New York Fed President Williams, etc., deliver speeches; European Central Bank releases economic bulletin; Bank of Korea announces interest rate decision; US and Japanese defense ministers hold summit in Washington; ③ Earnings reports: Morgan Stanley, Goldman Sachs, BlackRock. 5. Friday: ① Data: Germanys final December CPI month-on-month rate; US December industrial production month-on-month rate, January NAHB housing market index; ② Event: 2027 FOMC voting member and Richmond Fed President Barkin speaks on Virginias economic outlook. 6. Saturday: ① Data: US weekly total oil rig count; ② Event: Fed Vice Chairman Jefferson speaks; Italian Prime Minister Meloni visits South Korea from January 17th to 19th.Microsoft (MSFT.O): Claude in Microsoft Foundry enhances its capabilities for healthcare and life sciences customers.1. The Russian Ministry of Defense says it has taken control of Belogorye in the Zaporizhzhia region. 2. According to TASS: Russian troops attacked a Ukrainian defense company and energy facilities. 3. The Ukrainian military says it struck three Lukoil oil rigs in the Caspian Sea. 4. Russian Foreign Ministry spokeswoman Maria Zakharova says Ukraine carried out terrorist attacks on civilians in several regions of the Russian Federation on January 10. 5. The Hungarian Foreign Minister says the deployment of British and French troops to Ukraine will endanger Hungary. 6. The British Ministry of Defence says it is developing a new missile, "Nightfall," with a range exceeding 500 kilometers for Kyiv.

Bitcoin Must Maintain Support to Avoid Severe Selling Pressure

Alina Haynes

May 11, 2022 10:20

 截屏2022-05-11 上午9.54.38.png 

Spot versus Futures Bitcoin Pricing

Bitcoin is trading nearly 3 percent higher on the day at $31,030 as of 4:45 PM EST (Coinbase). At $30,990, BTC futures trade below their spot counterparts, confirming the pessimistic market mood. When future pricing of a commodity or asset is lower than the spot or live pricing, it indicates that market participants anticipate the item or commodity's price will likely decline in the future.

Technical Analysis of BTC

If we perform a Fibonacci retracement from Bitcoin's price a week ago at around $40,000 to yesterday's lows at approximately $30,000, it is evident that Bitcoin failed to surpass the 23 percent retracement level, which is approximately $32,130, on its rebound higher today. This suggests further price prices are anticipated.

 

If Bitcoin fails to maintain support at $29,00, then $20,000 is a distinct possibility. Even in the worst-case situation, I believe Bitcoin will be able to maintain a value of $10,000. However, if we were to reach that price, it would necessitate a loss of over 60 percent. Bitcoin must therefore maintain its current support to prevent a further carnage and prices not seen since 2020.