Market closure November 23, 2024

US STOCKS MARKETS AND GOLD

The American markets are stronger than last week's close, therefore they have risen weekly, and even gold seems to have already found support, after the latest falls from the highs of the year. We therefore perhaps have a bullish continuation for the coming weeks, and we will see as the end of the year approaches, if the big managers make cash to close their balance sheets, or not.

EUROPE STOCKS MARKETS

Green, that is the word for European stock markets. We have contagion from the USA. The end of the weekly closing has been really good, with general increases and also, above one percentage point, in most of the European markets.?

A great Friday day.

CURRENCIES

EUR/USD

Last week we indicated the possibility of loss of relevant support, as has happened.

And although it could continue to fall, long-term observation indicates that many times, the loss of support, with relative strength in oversold areas, does not indicate that it will fall much more, but rather it may be an opportunity for a turnaround. market.

If you have to take into account, do not lose areas of 1.02 / 1.025, since it would no longer be a test with perhaps a market trap, but rather a continuing bearish trend.

Under observation.

CRYPTOCURRENCIES

BITCOIN (BTC)

Trump, in 2019: "Bitcoin is highly volatile and its value is pure smoke".

I maintain the phrase that Trump commented, since since he won the elections, the effect has been immense. It's time to pause or continue... time will tell us.

TA for BTC

Last week we commented in the weekly market closing article that bitcoin should head towards 100K USD. Something that has been done in 7 days, since we are almost at the doors of touching them: “If the structure is not lost, the price could continue on its way to the desired 100,000 USD”.

We also observe how the graph since 2017 has large bullish and bearish movements, and generates support and resistance zones.

The 100K is basic, due to its simple number, resistance and although it could continue to rise, it is also possible to have a pause now.

Let's not close ourselves to it since if it continues, it could go to areas of 120,000 USD. But first, let it exceed 100K widely, and we will comment on it in new articles, here, in BELOBABA.

(FGI BTC) Bitcoin Fear and Greed Index ?

The Bitcoin Fear and Greed Index is a tool that helps investors and traders analyze the Bitcoin and Crypto market from a sentiment perspective.?

Currently we have the FGI is 93 points.

Bullish pressure for bitcoin, according to fear and greed.

Will it have more strength to continue rising in the short term?

FG Index compare to Ethereum

The comparison, with bitcoin at almost 100K, against ethereum, indicates that bitcoin could enter a range, at least lateral, in the short term, or rise but little, while ethereum would take a better upward path, it would rise in percentage, much more in the short term.?

It is not an investment recommendation, but it is the most likely thing to happen, provided you have the fundamental data, and how the crypto world usually behaves.

We accompany the FGI graph linked to Ethereum, for your observation.

In general, the crypto market has risen throughout the month of November, with percentages in many cases of 100% or higher.?

A fantastic November.

Legal warning: This content is for informational and educational purposes. There is no consumer protection. Your capital is subject to risks. It is not a recommendation to buy or sell any asset or crypto asset. Please do your own research (DYOR) or contact your trusted financial advisor.

Jesús Sánchez-Bermejo