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Bitcoin – USD – Forecasts, March 19, 2020
Bitcoin – USD – Forecasts, March 19, 2020
Posted

By - Jamel Lahiani

Posted - 19-03-2020
  • The Bitcoin/USD is ranging volatile at short term. Sell
  • The Euro/USD is bearish volatile at short term. Sell
  • The Crude oil/USD is bearish volatile at short term. Sell

Today our analysis will be concerned with:
BTCUSD (Bitcoin /US Dollar) the most popular cryptocurrency in the world exchanged to the US dollar. Bitcoin price grew significantly within a short period of time making the BTC/USD pair quite popular among active traders and investors.

EURUSD (Euro /US Dollar) is the most traded currency pair in the world. This pair represents the world two largest economies and has faced most volatility since the inception of the euro in 1999. Crude oil WTI (WTI /US Dollar) is the United States’ WTI (West Texas Intermediate) crude oil price measured in US dollar. The demand for crude oil is dependent on global economic conditions as well as market speculation.

FOREX Market Insights
US stocks collapse on Wednesday and the Dow lose the US President Donald Trump’s period gains, as
repercussions of the coronavirus pandemic stopped the economic activity. Also, the China and European stocks end lower on Wednesday, as worries increase over the rapid spread of the coronavirus outside China dashed risk sentiment. The worst hit by the outbreak is the Oil and gas price, with crude prices sinking on lower demand, ended at their weakest level in 24 years.

Today in Focus
Today, we have a high impact published indicator:

AT 12H30GMT: The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance.

GRAPHIC 1: BTCUSD HOURLY CHART (MARCH 19, 2020)
OPEN PRICE: 5413.00  SUPPORT: 4417.37  RESISTANCE: 5977.15
The BTCUSD chart has a ranging volatile movement between the two limits of the range. The chart is
moving above MA9 line. It is expected profitable to sell this pair if a candle pullback from the top limit of the range. A buy order is expected profitable if a pullback occurs from the bottom limit of the range. The BTC is more weakened by coronavirus outbreak than the US dollar because it is virtual money and investors prefer sure equities and money. Then, a sell order is more profitable.

GRAPHIC 2: EURUSD HOURLY CHART (MARCH 19, 2020)
OPEN PRICE: 1.09118  SUPPORT: 1.08024  RESISTANCE: 1.10445
The EURUSD chart has a bearish volatile movement inside the blue channel. The chart pullback from
MA9 line and closes to the downside following a lower high and lower low movement. It is expected
profitable to sell this pair at the top of the channel or if a pullback occurs from the MA9 line to the downside. If a candle closes above the top limit of the channel then a buy order will be expected
profitable.

GRAPHIC 3: CRUDE OIL WTI HOURLY CHART (MARCH 19, 2020)
OPEN PRICE: 22.27  SUPPORT: 20.12  RESISTANCE: 27.22
The Crude oil WTI chart has a bearish volatile movement inside the green-colored channel. The chart
follows a lower low and lower high movement. It is expected profitable to sell the crude oil at the top
of the channel or if a candle closes under the MA9 line. In fact, crude prices sinking on lower demand
in the international market.

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