4 Global Market Updates- 3 September, 2022

 

In this article, we have covered the highlights of global market news about the Bitcoin, Ethereum, Canadian Dollar, Australian Dollar and S&P 500.

Forecast for the Upcoming Week for Bitcoin and Ethereum

  • Bitcoin: The Path of Least Resistance Is Tilted Negatively

Path of Least Resistance for Bitcoin Is Tilted Down. As tight ranges are maintained, Bitcoin is still circling the $20,000 level. Weak gains in the bitcoin market indicate that we could have reached a temporary top above $25,000. While global bond rates are rising and the USD is getting stronger, momentum indications are still negative, and the macroeconomic outlook is also unfavorable. With an eye on a test of the 17500 lows, the downward is the direction of least resistance. Given the excitement around Merge for Ethereum in recent months, it has seemed as if Bitcoin has been somewhat left behind, which may help to explain why upside in Bitcoin has been difficult to come by.

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