Analyst Predicts That a Journey to the Lower-$11,000 By Bitcoin is Imminent

31 August 2020 | Updated: 31 August 2020

Bitcoin (BTC) continued on its ‘rocky’ momentum through the Monday session. However, despite the shaky trajectory, Bitcoin bulls have been able to defend their stance against any major downside move.

Towards the end of last week, the cryptocurrency gained some positive momentum, which sent it to the $11,600 level but was immediately met with a strong influx or shorts and was forced to the $11,100 demand zone. Bulls managed to defend that line and have sent it to a fresh high around $1975 just today.

Despite the show of strength on the part of Bitcoin, one analyst believes that we could revisit the downside soon. He cites that BTC is currently faced with heavy resistance coupled with plenty of liquidity in the lower-$11,000 area. He believes that the benchmark cryptocurrency needs to ‘tap’ this liquidity before any significant momentum can be observed. That said, he expects a bear run in the near-term before Bitcoin can climb higher.

The analyst elucidated that the lower-$11,000 area is filled with liquidation levels for leveraged positions and that tapping these leveraged long positions could provide fuel for a move higher in the coming days and weeks.

BTCUSD – 4-Hour Chart

Key BTC Levels to Watch

At press time, Bitcoin is trading at the $11,670 level. The cryptocurrency appears to have entered a consolidation phase over the past hours as bulls have failed to clear the $11,800 key resistance.

Meanwhile, Bitcoin has been forming higher lows for a while now, indicating that bulls are mostly in control. The price is currently on the mini trendline and suggests that a bounce to the $11,800 level in the near-term is imminent.

Total Market Cap: $377 billion

Bitcoin Market Cap: $215 billion

BTC Dominance Index: 57%

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Bitcoin SV Price May Commence Ranging Movement in Case $198 and $185 Level Hold

31 August 2020 | Updated: 31 August 2020
Bitcoin SV Price Analysis – August 31

The coin may commence ranging movement in case the resistance level at $198 and support level at $185 hold. Major resistance level above $198 level can be found at $217 and $237 price level. At the lower side of the market, major support levels can be found at $185, $179, and $134.

BSV/USD Market
Key Levels:

Resistance levels: $198, $217, $237
Support levels: $185, $179, $134

BSV/USD Long-term Trend: Bearish

On the daily chart, Bitcoin SV is bearish. There is little or not much difference in the price of BSV, although the sellers still hold the market. The bearish pressure pushed the price down to the support level at $185 on August 27 with the hope from the traders that the price may fall below the level. It is a surprise to see the demand level at $185 holding the price and the bulls pushed up the price to retest the resistance level at $198.

BSV Daily chart, August 31

The price is trying to pull back from the $198 level. Also, it is trading below the 9 periods EMA and 21 periods EMA, which indicates that the bears still hold the market. The coin may commence ranging movement in case the resistance level at $198 and support level at $185 hold. Major resistance level above $198 level can be found at $217 and $237 price level. At the lower side of the market, major support levels can be found at $185, $179, and $134.

BSV/USD Medium-term Trend: Bullish

BSVUSD is bullish in the 4- hour chart. It was on a bearish movement a few days ago and the coin found support at $185 level. The bulls defend the just mentioned support level and push the price to penetrate the two EMAs upside, also tried to break up the resistance level at $198 but the bears reject the move. The price is consolidating at the $198 price zone.

BSV 4-hour chart, August 31

The Relative Strength Indicator is pointing downside at 50 levels to indicate a sell signal. The price may break up $198 level to expose the price to $217 level.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Gold Price Analysis — August 31

31 August 2020 | Updated: 31 August 2020

Gold (XAU/USD) has climbed higher on Monday despite the insufficient volatility in the market as a result of the U.K. bank holiday.

Some bearish comments came from the Fed today after Bostic said that economic recovery is happening but at a slow pace. Also, Fed’s Clarida shed more light on the Fed’s stance noting that “unemployment rate by itself and in the absence of inflation will not be a sufficient trigger for a rate hike.” If this stance remains unchanged at the Fed meeting in September, then gold could see further gains.

Meanwhile, the early optimism over the goodish Chinese PMI data for August has faded from the market rather quickly. This can be seen in the sharp turnaround in the global risk appetite, which has bolstered demand for gold in the near-term. The anti-risk sentiment was strengthened by a slight intraday pullback in the US Treasury bond yields.

However, despite the favorable conditions, the uptick seen in gold lacked the strength to follow-through, and bulls are not yet convinced. That said, it would be wise to wait for a strong break above the $1977 supply region before expecting any significant bull rally.

XAUUSD – 4-Hour Chart

Gold (XAU) Value Forecast — August 31

XAU/USD Major Bias: Sideways

Supply Levels: $1977, $1983, and $2000

Demand Levels: $1940, $1923, and $1909

Gold remained well within our pivot region ($1983-60) as stipulated in this morning’s analysis. Meanwhile, it is appearing more and more likely that bulls, rather than bears, will win this bout. That said, a bullish breakout is to be expected in the near-term as upwards appears to be the “path of least resistance” currently.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Germany 30 (DE30EUR) Resumes Downward Move after Facing Strong Rejection from Level 13200

31 August 2020 | Updated: 31 August 2020

Key Resistance Zones: 13600, 14000, 14400
Key Support Zones: 11200, 10800, 10400

Germany 30 (DE30EUR) Long-term Trend: Ranging
The index is range-bound between levels 12400 and 13200. All price movements get terminated at level 13200. The index has been fluctuating since June. The index is falling and making a downward move.

DE30EUR – DailyChart

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the upward move. The index is at level 58 of the Relative Strength Index period 14. This indicates that the market is in the uptrend zone and above the centerline 50. The index is presently rising.

Germany 30 (DE30EUR) Medium-term Trend: Ranging
On the 4- hour chart, the index is in a sideways trend. The price makes an upward move but faces rejection at level 13200. The market is now fluctuating in the middle of the price range. The price movement has no clear direction.

DE30EUR – 4 Hour Chart

4-hour Chart Indicators Reading
The market is below the 50% range of the daily stochastic. It indicates that the market is in a bearish momentum. The market has reached the overbought region. Meanwhile, the 50-day SMA and the 21-day SMA are sloping sideways indicating the sideways trade

General Outlook for Germany 30 (DE30EUR)
DE30EUR is still fluctuating between levels 12400 and 13200. The index is in a downward move after testing the upper price range. The index is yet to break away from the current price range.


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EUR/CHF Is Range-Bound, Faces Rejection at Level 1.0780

31 August 2020 | Updated: 31 August 2020

Key Resistance Levels: 1.0800, 1.0900, 1.1000
Key Support Levels: 1.0600, 1.0500, 1.0400

EUR/CHF Price Long-term Trend: Ranging
EUR/CHF is still fluctuating between levels 1.0740 and 1.0840. The price is rising at the lower levels of the market but it is facing initial resistance at the recent high. The current upward move is facing resistance at level 1.0780. The pair is in a choppy price action.

EURCHF – daily chart

Daily Chart Indicators Reading:
The pair is at level 53 of the Relative Strength Index period 14. It implies that the market is in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping upward. It indicates the present uptrend.

EUR/CHF Medium-term Trend: Ranging
On the 4-hour chart, the pair is fluctuating between levels 1.0740 and 1.0840. The price has fallen above level 1.0740 and resumed consolidation. The market is in a choppy price action. The price is consolidating at a lower price level. A breakout on the upside is likely.

EUR/CHF – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping sideways indicating the sideways trend. The pair is below 80% range of the daily stochastic. It indicates that the market is in a bearish momentum. Sellers are emerging to push prices down

General Outlook for EUR/CHF
EUR/CHF is in a sideways trend but likely to rise. The previous uptrend is short-lived as price resumes downward. It appears the upward move will resume.



Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results


  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

USD/JPY Drops to Level 105.23 and Resumes Upward Move

31 August 2020 | Updated: 31 August 2020

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Ranging
The USD/JPY pair is currently in a sideways move. Since July the Yen has been trading between levels 105.00 and 107.00. Presently, the pair is rising to level 107. In the last two months, the key levels of the market are yet to be broken.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and 21-day SMA are sloping horizontally indicating a sideways move. The Yen is currently at level 49 of the daily Relative Strength Index. This indicates that the market is in the downtrend zone and below the centerline 50.

USD/JPY Medium-term Trend: Ranging
On the 4-hour chart, the pair is in a sideways move. Today, the market is moving upward. A red candle body tested 0.382 Fibonacci retracement level. The Yen will rise and reach a high of 2.618 Fibonacci extension level. In other words, the market will reach a high of level 107.72.

USD/IPY – 4 Hour Chart

4-hour Chart Indicators Reading
The market is currently above the 25% range of the daily stochastic. Buyers are emerging from the oversold region of the market. It is showing a bullish signal. The SMAs are also sloping in a sideways move.


General Outlook for USD/JPY
USD/JPY is in a sideways move. The Yen is currently rising to the upper price range. According to the Fibonacci tool, the pair will rise and reach a 2.618 extension level or level 107.72.


Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Key Ascending Trendline to Keep Gold Up in the Near-Term

31 August 2020 | Updated: 31 August 2020

Gold (XAU/USD) etched lower through the early European session on Monday and has recorded a new daily low at $1954.

The yellow metal couldn’t hold on to its bullish momentum from Friday, which shot it to its previous high around the $1977 supply region. However, the upbeat risk appetite in the equities market was the major factor weakening demand for gold’s safe-haven appeal.

The global risk sentiment was bolstered by positive Chinese Manufacturing and Services PMI data released on Monday. The data renewed hopes among investors for a strong economic recovery from the Coronavirus pandemic.

Also, a goodish bounce in the US dollar (DXY) today has applied more bearish pressure on the dollar-denominated commodity. However, last week’s dovish stance by the Fed might keep the USD bulls from becoming aggressive in the near-term, which could help the non-yielding metal consolidate or recuperate. Fed Chair Jerome Powell, at last week’s highly-anticipated Jackson Hole Symposium, announced that the central bank was considering a major policy shift to create more room for inflation to wiggle while unemployment stabilizes.

That said, traders will be looking for a strong breakout at this level before placing any aggressive bets.

XAUUSD – 4-Hour Chart

Gold (XAU) Value Forecast — August 31

XAU/USD Major Bias: Sideways

Supply Levels: $1977, $1983, and $2000

Demand Levels: $1940, $1923, and $1909

Gold has reentered the $1983 – $1960 pivot/consolidation range and a break of either end of this region could precipitate a rally. Meanwhile, last week’s drop was strongly supported by the ascending trendline once again, signifying that this level is key if bears desire to take prices lower.

That said, we could see a retest of this level in the near-term, which could strongly push the price upwards.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

EURUSD Extends Positive Traction Past Level at 1.1900 Ahead of Data

31 August 2020 | Updated: 31 August 2020

EURUSD Price Analysis – August 31

EURUSD continues to keep traction past the 1.19 mark, recapturing the upside bias to the 1.1883/80 band or daily lows after an early lower move. The pair holds gains of more than 1.19 marks to last weeks, notching fresh multi-day highs at the same time and relaunching the positive side weekly.

Key Levels
Resistance Levels: 1.1980, 1.1965, 1.1940
Support Levels: 1.1750, 1.1685, 1.1606
EURUSD Long term Trend: Bullish
Last week, EURUSD emerged beyond the multi-day trending structure and proceeded to reclaim the 1.19 mark and beyond, where it is now seeking to consolidate. The pair is currently up 0.24 percent at level 1.1932 and a step beyond level 1.1965 (2020 high Aug.18) may aim 1.1996 (strong) on the way to level 1.2032.

On the other side, the next support is situated close to level 1.1750 seconded by level 1.1709 (weekly low Aug.12) and finally level 1,1695 (low Jul 27). As long as the 1.1422 resistance level turned support holds, this might stay the desired scenario.
EURUSD Short term Trend: Ranging
In EURUSD, range trading persists and intraday bias stays initially neutral. A further increase is in support and breach of level 1.1965 may restore entire growth from level 1.0635. Regarding the upside condition in 4 hour RSI, nevertheless, a breach of 1.1709 level may indicate short-term topping.

The short-term oscillators further show that positive traction is rising. For intraday bias can be switched back to the downside (now at 1.1606 horizontal support level). If sellers re-emerge, initial obstacles may emerge from the near-term low horizontal support lines at 1.1852 and 1.1806 levels respectively, ahead of the 1.1750 level.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Silver Price: XAGUSD Path of Least Resistance Stays to the Downside

31 August 2020 | Updated: 31 August 2020

XAGUSD Price Analysis – August 31

Having initially surged to the highest since August 18, Silver prices recede to $27.87 level during Monday’s early European session. Even so, the white metal flashes 1.30% gains while rising for the second day in a row. However, Silver’s downside appears more compelling in the absence of long term buyers, as the XAGUSD path of least resistance stays to the downside.

Key Levels
Resistance Levels: $30.00, $29.50, $28.15
Support Levels: $27.15, $26.50, $25.00
XAGUSD Long term Trend: Bullish
At press time, the spot is trading well above the bullish MA 5 and MA 13 at $27.84 level, looking to retest the horizontal trendline resistance placed at the $28.15 level. As a result, the bulls may wait for a clear break of the mid-August peak around $28.50 level for fresh entries. In doing so, the current monthly high near $29.85 and $30.00 levels will be on their radars.

Meanwhile, a downside break of the MA 5 and MA 13 levels of $27.00 region can trigger the quote’s fresh declines targeting the previous week’s low around $26.00 level. Sellers will then target a low level of $25.00 level should the downside pressure intensify.
XAGUSD Short term Trend: Ranging
From a short-term technical perspective, the white metal fell as low as $27.57 level during the European trades, piercing through the Moving Average 5, then at $27.80 level as it approaches the Moving Average 13 at $27.50 zone.

The pair is supposed to find support at the level of $27.15, and a plunge over could take it to the next level of $26.50. The pair is supposed to meet its initial resistance at the level of $28.15, and a spike out could push it to the next level of resistance of $29.50.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Bitcoin Cash (BCH) Price Analysis: BCH Resumes Uptrend, Struggles to Jump Over $280 Hurdle

31 August 2020 | Updated: 31 August 2020

Key Highlights
BCH rebounds above the $260 low but faces rejection at $280 high
The coin will reach a target price of $366 if the $366 resistance is breached
Bitcoin Cash (BCH) Current Statistics
The current price: $278.20
Market Capitalization: $5,147,952,181
Trading Volume: $1,140,152,311
Major supply zones: $325, , $350,$375
Major demand zones: $200, $175, $150

Bitcoin Cash (BCH) Price Analysis August 31, 2020
On August 25, the bears broke the $280 support to $270 low. After a retest at the $280 high, it dropped to  $260 low. The bulls are making frantic efforts to push the coin to the previous highs. Today, BCH is trading at $278 at the time of writing. The crypto is facing rejection at the $280 high as buyers attempt to push the coin to the previous highs. The coin will achieve price acceleration if the bulls push the coin above $280 resistance or the EMAs. BCH will rise and retest the $320 resistance. Conversely, if the bears break below the current support, the coin will fall to $240 low.

BCH/USD – Daily Chart

Bitcoin Cash Technical Indicators Reading
BCH has risen to level 48 of the Relative Strength Index period 14. The coin is in the downtrend zone and below the centerline 50. The price is attempting to break above the 21-day SMA. If it breaks above the SMAs, the crypto will resume an upward move. At the moment, BCH is struggling to break into the  previous highs.

BCH/USD – 4 Hour Chart

Conclusion
BCH is recovering above $260 support but faces rejection at the $280 high. On August 1 uptrend, BCH was resisted at $320, and the coin retraced to the previous low. A retraced candle body tested the 61.8% Fibonacci retracement level. This implies that the $320 resistance is likely to be broken and the coin will rise to 1.618 Fibonacci extension level. In other words, the crypto will reach a high of $366.



Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.