In this article of the latest crypto magazine news, you will get to know all the weekly updates regarding market. Morgan Stanley Investment Management’s chief strategist and head of emerging markets Ruchir Sharma believes that the huge money printing by the U.S. Federal Reserve is likely to stoke inflation and interest rates could rise as early as next year and surprise everyone.

Therefore, he suggests traders keep about 5% of their portfolio in gold, and for the adventurous in Bitcoin, over the next three to five years.

A few traders are buying call options at the $36,000 and $32,000 strike price expiring on December 25. However, the possibility of such a move is less than 2%. Options can be used to form various complex strategies; hence, traders should not get overly excited about these options purchases.

OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE
CRYPTO INVESTMENT RATINGS – HOW EVAI DECENTRALIZED RATINGS WILL NAVIGATE THE
HYPE AND BIAS, BLOCKCHAIN IN HEALTHCARE: HOW ATROMG8 CAN HELP?,
UK HOUSING CRISIS AFFECTING LANDLORDS – HOW PROPERTY INFO FILE CAN HELP?
&
ROWAN ENERGY BLOCKCHAIN TOKEN (RWN) IS MAKING MAJOR MOVES WITH A THIRD
EXCHANGE LISTING ON PROBIT

Bitcoin failed to break above the $12,134.29 resistance on September 1, which attracted profit booking from the short-term traders. Bitcoin stayed below the $10,500 level from September 3-13 but the bears could not capitalise on this and hammer the price below the $9,813 support. This suggests that the bulls were accumulating below the $10,500 level.

On September 14, the bulls pushed the price back above $10,500 and the 20-day EMA. This indicates the possible start of a relief rally that can reach the 50-day SMA. The bears are likely to defend this level aggressively. You can find out our crypto news magazine past edition here.

However, if the bulls do not give up much ground and arrest the next decline above $10,500, it will suggest that the correction is over. We had suggested traders initiate long positions on a break above $10,650 and that filled on September 14. Aggressive traderscan book profits on 50% of the positions close to the 50-day SMA and buy again on a bounce off $10,500.Positional traders can hold their long positions with a stop of $9,800 as a rally to $12,486.61 is possible. The stops can be trailed higher as the BTC/USD pair moves above the $11,000 levels. The 20-day EMA has flattened out and the RSI has risen to the midpoint, which shows that the selling pressure has reduced.

The trend will turn in favour of the bears if the price reverses direction from the current levels and breaks below $9,800. Such a move will be a huge negative that can result in a drop to $9,000 and then to $8,000 levels.

Lastly please check out the advancement’s happening in the cryptocurrency world. You can subscribe our crypto news magazine for latest updates.

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MAJOR HIGHLIGHTS IN THIS WEEK