Markets recovered a little overnight from the selloff last week as portfolios are settled into the election tonight.
There could be unexpected moves throughout the election, with a lot of eyes on Florida to give an early indication on the result.
Bitcoin is holding its bullish posture, with its technical proposition being either another leg higher or a retest of support levels and perhaps more consolidation.
Although it is far from conclusive, the weakness in ethereum could mean that we should expect consolidation or squeezing (lower) here.
BTC last traded at $13,615
24 hr high: $ 13,842
24 hr low: $ 13,220
The trades in bitcoin here are to be short on the trend-line for a good break of the bids since the 22nd of last month. Of course longs could also continue holding for a potential extra leg higher.
Eth was sold last night, which also gives a bearish aspect to the bitcoin price. The bullish pattern has been broken in Ether so we prefer a bias to the downside in trading the asset.
24 hr high: $ 404.61
24 hr low: $ 378
Digital assets were broadly sold – crushed – overnight.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||6.89||0.02328||12,193,653.00||$378,526,581.00|
Australia has an interest rate decision, although the US presidential election will overshadow everything else this week.
Although there is broadly little difference between candidates – both will give fiscal and monetary support to markets, perhaps Biden could sell-off for an economic shutdown and a disputed result will also damage the perception of an incoming fiscal expenditure.
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