Risk assets have struggled overnight although more or less trading sideways. They are in a place where they need to take off to be convincing here though and too much time spent at the high and they ought to roll over – potentially on events.
Bitcoin has lost a lot of its volatility at the high of the market. Our original thesis over the weekend was that the S&P500 and BTC markets were in a similar structure and that there was far more potential to the downside than upside, but gave the market 24 hours to digest the M1 numbers.
We are more biased towards the downside for now.
BTC last traded at $19,173
24 hr high: $ 19,400
24 hr low: $ 18,898
The better risk/reward for a trade is short (always HODLING investments separate to trade) at the current position here. If the market does come off we might expect it to pick up in January/February
Eth looks more like a market rolling over than Bitcoin.
24 hr high: $ 601
24 hr low: $ 585
Most assets were lower overnight
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||7.81||-1.49388||10,631,948.00||$436,350,880.00|
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