Leading Economic Index Decline Adds to Recessionary Red Flags

The Conference Board’s Leading Economic Index showed another decline for October, suggesting the economy will finish the year on a low note. The LEI isn’t the only worrying trend pointing to an eventual recession. Even as the economy slows, the stock market could continue to climb in the near-term. But long-term worries persist. On Thursday, the Conference Board revealed that its Leading Economic Index for the US declined to 111.7 in October. This is the third consecutive monthly decline for the LEI, and its six-month growth rate was negative for…

Uber’s Ousted Founder is Dumping Shares While the CEO Loads Up

Travis Kalanick’s total haul from the sell-off is now nearing $1 billion. Current Uber CEO joins board chair on the buy-side. Uber co-founder Garett Camp now owns more shares than Kalanick. As the co-founder and former CEO of Uber Technologies (NYSE: UBER) Travis Kalanick cuts his stake in the ride-hailing firm, the current CEO Dara Khosrowshahi is increasing his shareholding in the company. An SEC filing posted on November 20th shows that Khosrowshahi acquired 250,000 shares of Uber on Monday, November 18th. This brings his total stake, including stock awards,…

Bitcoin (BTC) Price Diving, Gates To $7,400 Now Wide Open

Bitcoin price is diving and it recently broke the $8,000 support area against the US Dollar. The price is under a lot of pressure and recently traded to a new monthly low at $7,828. Morning’s bearish flag pattern was breached with support near $8,080 on the hourly chart of the BTC/USD pair (data feed from Kraken). The next key target for the bears could be $7,400 (as discussed in the recent medium term outlook). Bitcoin price is gaining bearish momentum below $8,000 against the US Dollar. More importantly, there is…

Bitcoin (BTC) Price Hesitates But Further Downsides Seem Likely

Bitcoin price is consolidating losses above the $8,000 support area against the US Dollar. The price is likely to struggle near the $8,150 and $8,220 resistance levels. There is a key rising channel or a bearish flag pattern forming with support near $8,060 on the hourly chart of the BTC/USD pair (data feed from Kraken). An upside correction towards the $8,220 and $8,280 levels could face a solid selling interest. Bitcoin price is consolidating losses with corrective moves against the US Dollar. However, BTC remains sell on rallies if it…

Hong Kong Bill Could Be Nail in Coffin for US-China Trade Deal

Trump will likely sign a bill supporting Hong Kong protests, according to reports. The bill has been vehemently condemned by China. Stocks took a hit as hopes of a U.S.-China trade deal by 2020 are squashed. President Donald Trump is expected to sign legislation supporting protesters in Hong Kong, according to a report in Bloomberg. The move would put Washington, D.C. on a collision course with Beijing and could squash any hopes of a U.S.-China trade deal before 2020.  Source: Twitter U.S.-China Trade Deal Hanging by a Thread  If passed…

Bitcoin (BTC) Price Primed For Breakdown Below $8K

Bitcoin price is extending its decline below the $8,250 resistance area against the US Dollar. The price is likely to decline below the $8,000 and $7,800 support levels in the near term. There is a major bearish trend line forming with resistance near $8,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). There are many bearish signs on the chart, suggesting a drop below $8,000. Bitcoin price is facing an uphill task near $8,200 and $8,400 against the US Dollar. Therefore, BTC is likely to decline…

Bitcoin And Crypto Market Remain at Risk: BCH, Litecoin, EOS, XLM Analysis

The total crypto market cap remains at a risk of a drop towards the $200.0B support. Bitcoin price is currently correcting higher, but there are many resistances near $8,250. Litecoin (LTC) price is currently consolidating above the $55.00 support area. Bitcoin cash price is now trading in a bearish zone below the $250 level. EOS price is under a lot of pressure and it is approaching the $3.050 support area. Stellar (XLM) price is now closing in towards the $0.0650 support area. Bitcoin (BTC) and the crypto market cap are…

Bitcoin Medium Term Outlook: Here Is Why BTC Could Test $6.5K

Bitcoin price is currently in a downtrend below the $9,100 pivot level against the US Dollar. The price is trading well below the $8,500 support and the 100-day simple moving average. There is a crucial bearish trend line forming with resistance near $8,880 on the daily chart of the BTC/USD pair (data feed from Kraken). If the current trend remains intact, the price could test $7,400 or even $6,500. Bitcoin price is following a significant downtrend on the daily timeframe against the US Dollar. If BTC fails to stay above…

Crypto Market Dives $40 Billion In Nov, More Losses Likely: BNB, BCH, LTC, EOS Analysis

The total crypto market cap is down close to $40.0B this month and remains bearish. Bitcoin price is down around 3% today and it is now approaching the $8,000 support. Litecoin (LTC) price is down around 5% and it broke the $60.00 support area. BCH price is currently accelerating its decline below the $260 and $250 levels. EOS price is down more than 6% and it is now trading near the $3.200 support area. Binance coin (BNB) broke the key $20.00 support area to enter a bearish zone. Bitcoin (BTC)…

Bitcoin (BTC) Diving, Can Bulls Protect $8.2K Support?

Bitcoin price is extending losses and it recently broke $8,375 support against the US Dollar. The price is currently correcting, but upsides are likely to be capped by $8,500. Morning’s key bearish trend line is active with resistance near $8,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). Ethereum is still holding the $180 support area and ripple is trading in a range above $0.2520. Bitcoin price is showing signs of more losses below $8,500 against the US Dollar. BTC could drop towards $8,200 before a…