Ready for a new month of tech games? I understood!
This week we look at AMD, Bitcoin (BTC/USD) and AUD/CAD possibly extending their swings and long-term setups.
Get them while they’re hot!
Bitcoin HODL-ers got another push on Friday when BTC/USD bounced off the ascending channel support near the 100 and 200 SMA on the 4-hour chart.
However, the fun stopped around $24,500, which is suspiciously close to channel resistance on the schedule.
with Stochastic approaching oversold levels, and bitcoin approaching support zones near the SMA, you can bet that at least some bulls are looking for a place to pounce.
$22,800 is the nearest inflection point, although traders can also look at $22,500 or $21,500 as a good entry zone.
What do you think? Will BTC/USD Profits Increase? Or the crypto will drop below the channel support and see deeper step back?
Advanced Micro Devices, Inc. (AMD): daily
Daily chart of Advanced Micro Devices, Inc. (AMD).
Advanced Micro Devices, Inc. (AMD) looks poised to hit $100!
Or not. The asset must first pass through 100 SMA this is near the resistance of the descending channel on the daily chart.
Will AMD see more losses in the next few days? Watch how traders react to zone of resistance.
A clear break above the trend line and 100 SMA could help direct AMD to the previous area of interest of $110.50 – $112.00.
A bounce below current levels, however, could take AMD back to the lows of $84.00 and $74.50.
AUD/CAD daily forex chart
Who for someone comdoll action?
If so, you’ll love that AUD/CAD was able to rally from the July lows and approach the psychological level of 0.9000.
What makes .9000 even more interesting is that it matches previous support and the 38.2% Fibonacci retracement multi-month recession.
bears impulse a break below 0.9000 could extend AUD/CAD’s long-term downtrend all the way to new 2022 lows.
However, a break above the big .9000 could push the AUD towards interesting areas like .9150 or .9300.
