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Risk warning: ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage.

76.46% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider.

You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.

Is the Cypto Market Ready to make full recovery yet?

Is the Cypto Market Ready to make full recovery yet?

Information is not investment advice

Recently, on the 16th of January, 2023, Thailand Securities Exchange Commission issued fresh rules in its continued efforts to protect investors' assets and build confidence in the crypto space. It comes right after Bitcoin surged above $20k. However, is this enough to kickstart a full recovery for crypto coins? 

BTCUSD, Daily timeframe

BTCUSDDaily - 1901.png

We see a breakout of the wedge and the 200-Moving Average. The breakout also came with a double break of structure, as seen from the two horizontal arrows. Will the rally continue? I expect a slight retracement toward the 50-Moving Average before the possible recovery of the bullish momentum.

ETHUSD, H4 timeframe

ETHUSDH4 - 1901.png

Ethereum, on the other hand, has recently had a bearish break out of a wedge while still trading above the bullish Moving Average array. However, the constraint with this is the bearish break of structure from the breakout. In my opinion, the bearish movement will continue until a reliable demand zone is found. It should happen close to the 100-Period Moving Average.

Conclusion

The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.

TRY TRADING NOW

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