Bitcoin short-term analysis for 04 April 2022
The chart on the left shows bitcoin's daily heikin ashi candles (HA). These are trend-following and are in bitcoin's area of strength between the upper blue and red bands.
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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The chart on the left shows bitcoin's daily heikin ashi candles (HA). These are trend-following and are in bitcoin's area of strength between the upper blue and red bands.
Friday's job report shows a robust labour market. Given last week's high core PCE reading, a 50bps hike in May is a strong possibility. Our analysts note the inverted yield curve and look forward to Wednesday's FOMC minutes. Finally, Bitcoin is showing signs of accumulation.
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Bitcoin is building momentum on the short-term timeframes.
In today's "Morning Market Review," we discuss the uncertainty in the gold and oil markets. The GER30 has hit resistance, and we cannot discount a bear market rally. We also suggest Bitcoin may be in an accumulation pattern.
The left chart show's the GER30 daily heikin ashi (HA) candles. Over the last six trading sessions, the index has battled and failed to overcome overhead resistance around the 14,550 level (red shaded horizontal). HA candles are trend-following in nature, and the latest candle has turned red after the index reaction off of resistance - a bearish development The righthand hourly chart has bearish signals. The EMAs have turned down,…
The left chart shows the daily heikin ashi (HA) candles for USOil. A trend-following indicator, it is blue and crossing into USOil's bullish area, between the upper blue and red bands. The hourly chart on the right has bullish signals. The EMAs have crossed positively, and the stochastic has turned up (black ellipses). If the EMAs develop angle and separation to the upside, and the stochastic moves toward the 80+…
Bitcoin weekly triangle continues.
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In today's "Morning Market Review," we look at the spike in volatility in the oil market. The current range is higher than when lockdown began back in 2020.
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