Service for copy trading. Our Algo automatically opens and closes trades.
The L2T Algo provides highly profitable signals with minimal risk.
24/7 cryptocurrency trading. While you sleep, we trade.
10 minute setup with substantial advantages. The manual is provided with the purchase.
79% Success rate. Our outcomes will excite you.
Up to 70 trades per month. There are more than 5 pairs available.
Monthly subscriptions begin at £58.
This idea was sponsored by a recent quarterly commodity outlook published by American banking behemoth, Citigroup. The firm based its predictions on gold (XAU/USD) and its possible price dynamics ahead of the election season in November. It highlighted that gold could record a new YTD high despite its current bearishness.
Meanwhile, Bitcoin, which has shared a strong correlation with gold since March, tumbled through this week amid similar geopolitical triggers. The benchmark cryptocurrency touched $10,100 briefly following the Federal Reserve Chair Jerome Powell’s announcement of the inability of the bank to support the US economy in the absence of a second Coronavirus stimulus package. Many analysts have predicted that the proposed stimulus measures may not be approved until after the elections.
This delay has caused a lot of investors to flee from safer assets like gold and Bitcoin, to the US dollar (DXY). But for Citibank, this price dynamic in gold and Bitcoin isn’t going to last.
Meanwhile, Tyler Winklevoss, co-founder of the Gemini exchange, has advised that people should go long on Bitcoin to save their capital from the incoming crisis.
Key BTC Levels to Watch
Bitcoin continues to trade under a directionless sentiment as investors look on in anticipation. Based on our 4-hour chart, we can observe that BTC has made some attempts at the upside recently, but remains strongly opposed by the top of our pivot point at $10,800 and the prevailing descending trendline.
BTC has to defeat both indicators in one swipe and break strongly above $10,800 before any bullish recovery can take place. Subsequently, the next level to beat is the $11,200 resistance.
Total market capital: $342 billion
Bitcoin market capital: $198 billion
Bitcoin dominance: 57.8%
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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
