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BTC/USD Price Likely to Cross $10,000 While the AUD/USD Pair Is Likely To Break the 0.6700 Support

Published on: 02/7/20 10:40 AM

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Category: Newsletter

Bitcoin price likely to cross $10,000, following a bullish run with no strong resistance on sight. On the other hand, the upbeat data from China failed to rescue AUD/USD from losses, as the pair continues to try the 0.6700 support. Forex Broker comparison service FXBrokerFeed brings you the latest news bites and trends in the FX Broker Market, featuring Bitcoin price prediction and AUD/USD losses.

BTC/USD Price Prediction – Likely to Cross $10,000?

BTC/USD reached the $9,782.30 price mark this week, following a bullish market run from $8,325.16. From indications, Bitcoin is on the path of crossing the $10,000 price mark, especially as there is no significant resistance on the uptrend. The daily confluence detector reveals that there is likely no stopping Bitcoin from crossing that price mark. There is, however, strong support at the $9,580 price mark. Recall that that price zone was a previous daily pivot point, weekly high, and monthly high. Meanwhile, Terry Duffy, the CEO of CME Group, believes that Bitcoin is just like gold because its price keeps increasing amidst the shake in the equity market. According to him, Bitcoin is seen as a haven by more people today.

AUD/USD Looking Bearish Despite Positive China Trade Data

The AUD/USD pair continues its downward streak despite the upbeat trade data from China. This week has seen the price threatening to break the 0.6700 support zone in the European session. Philip Lowe, the RBA Governor, statement during the Asian session suggested coronavirus was no cause of alarm. He tried to overshadow the coronavirus fear under a bubbling economy and insisted interest rates should not be negative. But the Australian central bank’s statement on monetary policy (SoMP) seems to have negated the effect of Philip’s statement and lowered the GDP growth forecast.

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