Account
New to ADSS? Open an
account now to get started.
Already have an account?
Add funds to your ADSS account
Account
New to ADSS? Open an
account now to get started.
Add funds to your ADSS account
Asset Watch
Thursday, 21 November 2024
The Bitcoin price is steadily advancing toward the $100,000 threshold, buoyed by the recent U.S. presidential election victory of Donald Trump. While the new administration’s plan on cryptocurrency remains unclear, President-elect Trump has expressed support for the technology sector, leading investors to anticipate reduced regulatory pressures under his leadership.
Another catalyst for Bitcoin’s rise is the bold strategy by MicroStrategy’s CEO, Michael Saylor, who plans to acquire $42 billion worth of Bitcoin over the next three years.
Chart Source: ADSS Platform
In mid-October, Bitcoin broke above the upper boundary of a bull flag pattern, signaling further upward momentum with the $100,000 mark in sight. Currently, the price is trading within the $90,000–$100,000 range. A daily close above the upper limit of this zone could pave the way for a rally toward $110,000, though the psychological resistance at $105,000 should not be overlooked.
Conversely, a pullback from the upper boundary may indicate waning bullish momentum, potentially driving the price back toward the lower end of the range. Additionally, the Relative Strength Index (RSI) remains in overbought territory. A decline below the 70 level could signal a potential price correction.
ADSS
8th floor, CI Tower
Corniche Road
PO Box 93894
Abu Dhabi
United Arab Emirates
Trading Services
ts@adss.com
+971 2 657 2414
Investing in CFDs involves a high degree of risk that you will lose your money due to the use of leverage, particularly in fast moving markets, where a relatively small movement in the price can lead to a proportionately larger movement in the value of your investment. This can result in loses that exceed the funds in your account. You should consider whether you understand how CFDs work and you should seek independent advice if necessary.
ADS Securities LLC – S.P.C (“ADSS”) is authorised and regulated by the Securities and Commodities Authority (“SCA”) in the United Arab Emirates under First Category: Dealing in Securities and Fifth category: Arrangement and advice (Introduction). ADSS is a Limited Liability Company – Sole Proprietorship Company incorporated under United Arab Emirates law. The company is registered with the Department of Economic Development of Abu Dhabi (No. 1190047) and has its principal place of business at 8th Floor, CI Tower, Corniche Road, P.O. Box 93894, Abu Dhabi, United Arab Emirates.
The information presented is not directed at residents of any particular country outside the United Arab Emirates and is not intended for distribution to, or use by, any person in any country where the distribution or use is contrary to local law or regulation.
ADSS is an execution only service provider and does not provide advice. ADSS may publish general market commentary from time to time. Where it does, the material published does not constitute advice, or a solicitation, or a recommendation to a transaction in any financial instrument. ADSS accepts no responsibility for any use of the content presented and any consequences of that use. No representation or warranty is given as to the completeness of this information. Anyone acting on the information provided does so at their own risk.
