Bitcoin Experiences Price Dip, But Bullish Outlook Remains Strong

XAU/USD

Prediction: Bullish

Gold prices are continuing their upward trend and have surpassed significant resistance levels. The uncertainty surrounding President Donald Trump’s economic policies, combined with fluctuations in the USD, is providing momentum for gold to maintain its upward trajectory.

FUNDAMENTAL ANALYSIS

Spot Price: $2,723.6/ounce (latest update). Trump’s Trade Policy: The plan to impose import tariffs ranging from 10% to 60% may impact the U.S. economy, while simultaneously increasing demand for gold as a safe haven asset. USD: The DXY weakened after Trump delayed the immediate implementation of harsh tariffs, making gold more attractive. Fed Interest Rates: The Fed's cautious monetary policy could continue to support gold if expectations of rate cuts increase.

TECHNICAL ANALYSIS

Key Resistance:
● $2,726 - $2,738: The nearest resistance levels, a break above these could push prices higher.

● $2,757: A stronger resistance level, a further target for the bulls.

Key Support:

● $2,696: The first support level, a potential testing area if prices pull back.

● $2,678: A more significant support level, aligning with the 34 EMA.

● $2,660: A strong support level, a break below this could trigger a deeper downtrend.

Technical Indicators:

RSI: At 65.86, not yet in overbought territory but showing signs of strong upward momentum.

EMA 34, 89, 200: Prices are currently maintaining above key EMA levels, reinforcing the bullish trend.

Gold could continue its upward move if it holds above $2,726 and breaks through $2,738 to target $2,757. However, if there is a pullback, the price could test the support zone between $2,696 and $2,678. Investors should closely monitor price reactions at key resistance and support levels.

EUR/USD

Prediction: Bullish

The euro is showing signs of mild recovery in today’s trading session as the market reacts to the uncertainty surrounding President Donald Trump’s trade policy towards Canada and Mexico. The fluctuations in the Dollar Index (DXY) are also influencing the direction of the EUR/USD pair.

FUNDAMENTAL ANALYSIS

Spot Price: EUR/USD is currently trading at 1.03862. U.S. Trade Policy: Trump has announced that he is considering imposing a 25% tariff on imports from Canada and Mexico, causing market disruptions amid concerns about foreign exchange
interest rates.

Dollar Index (DXY): The DXY index has rebounded, currently trading around 108.65, after a sharp decline earlier in the week. Fed Monetary Policy: The Fed remains cautious on interest rates, with the possibility of rate cuts this year if the U.S. economy shows signs of weakening.

Market Sentiment: Uncertainty surrounding Trump’s policies is increasing demand for safe-haven assets, but the USD is still showing signs of recovery due to expectations of strong economic growth in the U.S.

TECHNICAL ANALYSIS

Key Resistance:

●1.0410: The nearest resistance level.

●1.0450: A stronger resistance, which could be tested if the upward trend continues.

●1.0500: A significant psychological level, which could act as a strong barrier if the bullish trend extends.

Key Support:

●1.0360 (EMA 34): The nearest support level.

●1.0320 (EMA 89): A stronger support if a correction trend occurs.

●1.0280 (EMA 200): An important support level for the long term.

Technical Indicators:

RSI: Currently at 62.7, indicating that upward momentum is still present but approaching overbought territory.

EMA: The 34, 89, and 200 EMAs are supporting the short-term bullish trend.

DXY: If the DXY continues to rise, EUR/USD could face downward pressure.

Given the current fundamental and technical factors, EUR/USD may continue its upward move if it surpasses key resistance levels. However, investors should closely monitor upcoming economic data, especially announcements from the Fed and U.S. trade policies, to form a suitable trading strategy.

BTC/USD

Prediction: Mild Correction - Bullish Trend Still Prevails

Bitcoin has reached a new all-time high above $109,000 ahead of President Donald Trump's inauguration, sparking significant excitement within the cryptocurrency community. However, after hitting this peak, BTC has shown signs of a correction and is currently trading around $102,561. This event has demonstrated the strength of the cryptocurrency market, despite the impact of memecoins associated with Trump.

FUNDAMENTAL ANALYSIS

Current Exchange Rate: BTC/USD is trading at $102,561, slightly down from the recent high near $109,000.

Events Affecting BTC:

● Bitcoin reached a record high of $109,000 ahead of President Trump’s inauguration on January 20, 2025, reflecting expectations for crypto-friendly policies from the Trump administration.

● The Trump memecoin (TRUMP) faced a correction after Melania Trump launched her own memecoin, MELANIA. TRUMP coin saw a sharp decline, putting downward pressure on the overall cryptocurrency market, including Bitcoin.

●The market is also awaiting official moves from the Trump administration regarding crypto policies, particularly the creation of a strategic Bitcoin reserve fund. Impact on BTC: The Bitcoin price correction could stem from the price adjustment of memecoins and unmet expectations from the Trump administration. However, Bitcoin’s strongn long-term recovery remains possible if crypto-friendly policies are successfully implemented.

TECHNICAL ANALYSIS

Key Resistance:

●$105,000: The nearest resistance, a break above could push prices back toward the $106,000 -$107,000 range.

●$109,000: A stronger resistance level, which must be surpassed to confirm the continuation of the bullish trend.

Key Support:

●$102,000: The nearest support, a break below could lead to a drop to $100,000.

●$97,000: A deeper support zone if strong selling pressure occurs.

RSI: Currently at 48.71, the RSI shows that the market is balanced, with buying and selling forces nearly equal. This RSI level doesn’t indicate strong overbought or oversold conditions, meaning BTC’s price may continue to fluctuate within a narrow range until a clearer breakout occurs.

 

 

 

 

 

 

Disclaimer

Derivative investments involve significant risks and may result in the loss of the capital you invest. You are advised to carefully read and study the legality of the company, products, and trading rules before deciding to invest your money. Be responsible and accountable in your trading.

RISK WARNING IN TRADING

Transactions via margin involve products that use leverage mechanisms, carry high risks, and are certainly not suitable for all investors. THERE IS NO GUARANTEE OF PROFIT on your investment, so be wary of those who guarantee profits in trading. You are advised not to use funds if you are not prepared to incur losses. Before deciding to trade, ensure that you understand the risks involved and also consider your experience.