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After the meeting with US President Trump on February 28 local time ended unpleasantly, Ukrainian President Zelensky spoke with French President Macron and NATO Secretary-General Rutte on the phone. He will also attend the European Summit in London, England this weekend and meet with European leaders. Macron, who is visiting Portugal, told the media, "We must thank all those who have helped and respected those who have been fighting from the beginning." German Chancellor Scholz said, "Ukraine can rely on Germany and Europe." Spanish Prime Minister Sanchez said, "Spain stands with Ukraine." European Commission President von der Leyen and Polish Prime Minister Tusk said, "Ukraine is not alone." In addition, many European leaders have expressed support for Zelensky. But there are also leaders such as Italian Prime Minister Meroni who said that "the United States, European countries and other allies should hold a summit immediately." Hungarian Prime Minister Orban expressed support for Trump.According to the Indonesian Meteorological, Climate and Geophysical Bureau, a magnitude 6.0 earthquake occurred in the Banda Sea of Indonesia at 4:58 a.m. local time on March 1, with a focal depth of 158 kilometers.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending February 25, stock fund managers reduced their net long positions in the S&P 500 CME by 35,958 contracts to 912,052 contracts. Speculators reduced their net short positions in the S&P 500 CME by 25,964 contracts to 339,937 contracts.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending February 25, investors reduced their net long positions in WTI crude oil by 33,003 contracts to 39,308. NYMEX and ICE natural gas net long positions decreased by 33,920 contracts to 328,116.U.S. Commodity Futures Trading Commission (CFTC): As of the week ending February 25, speculators net long positions in COMEX gold fell by 7,604 contracts to 194,357. Investors net long positions in COMEX silver fell by 6,408 contracts to 32,993. Investors net long positions in COMEX copper fell by 8,390 contracts to 18,205.

BTC Bulls Target $21,000 While ETH Breaks $1,500 Resistance

Oct 27, 2022 15:21

 截屏2022-10-27 下午3.12.06.png

 

During a breakout session on Tuesday, bitcoin (BTC) and ethereum (ETH) returned to $20,000 and $1,500, respectively. The breakout session was driven by a shift in market attitude towards the Fed, with economic indicators revealing fractures in the US economy. The technical indications have turned bullish, and the momentum supports a strong opening on Wednesday.

 

On Tuesday, bitcoin (BTC) gained 3.95 percent. BTC reversed a 1.25 percent decline from Monday to close the day at $20,104. Notably, BTC closed the day at $20,000 for the first time since October 5 while avoiding sub-$19,000 territory for the fourth session.

 

BTC fell to a morning low of $19,251 due to a negative morning. BTC rose to a late-afternoon high of $20,432 while avoiding the First Major Support Level (S1) at $19,138. BTC was able to surpass the Major Resistance Levels. BTC fell through the Third Major Resistance Level (R3) at $20,258 due to a late pullback.

 

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On Tuesday, Ethereum (ETH) rose 8.63%. ETH reversed Monday's loss of 1.47% to conclude the day at $1,460. Notably, ETH reached $1,500 for the first time since September's middle.

 

Due to a rocky start to the day, ETH fell to a low of $1,335 early on. ETH surged to a late-afternoon high of $1,525 after avoiding the First Major Support Level (S1) around $1,325. ETH surpassed the Major Resistance Levels for the day. The Third Major Resistance Level (R3) at $1,440 provided support late in the day.

 

On Tuesday, US economic figures bolstered wagers that the Fed will take a less aggressive stance in December. Mary Daly, a member of the Federal Open Market Committee, and a Wall Street Journal article published last Friday both referred to the Fed taking its foot off the throttle.

 

This week, economic statistics demonstrated the Fed's impact on the economy. The preliminary private sector PMIs for October revealed a more pronounced contraction in the services sector, along with a decline in consumer confidence.

 

The housing market was adversely affected by the impact of rising interest rates on mortgage rates, as home price growth slowed significantly.

 

There are currently no significant statistics for markets to consider. FOMC members are, however, unable to alter the narrative until November 3, due to the blackout period, which supports the bullish morning session.

 

As of this morning, the FedWatch Tool placed the likelihood of rate hikes in November and December at 95.1% and 47.2%, respectively. Prior to one week, the probability of a 75-basis-point increase in December stood at 77.0%.

 

Elon Musk's ambitions to acquire Twitter (TWTR) and news of CFTC Chairman Rostin Behnam classifying BTC and ETH as commodities are also contributing to the increase.

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