There was a bit more retracement in the S&P500 and oil overnight and minor easing in gold the pet rock.
There has been more insistence from the potential Biden administration on a 4-6 week lockdown of the economy which may weigh on risk
Bitcoin has had another incredible night trading higher by over 3%. The asset is clearly trading higher and is also creating a parabola in the price action. The entire market knows that the all-time high is on the cards and there is some good chance that the end of the move is through the high.
24 hr high: $ 16,370
24 hr low: $ 15,481
Bitcoin remains tricky from the trading perspective despite being a clear bull market. The original break of the high squeezed back through, and it could be the ‘second movement’ type trades that are worth targeting.
These trades avoid the obvious trade the first time around, but fade the stop-out of traders who did take the ‘obvious’ trade and were pushed out.
With risk sold overnight and Eth failing to break higher, perhaps there is a short in the asset? It might make the clearer trade, even in this bull market.
Eth did not follow Bitcoin on its latest push higher and is consolidating around the high.
24 hr high: $ 470
24 hr low: $ 452
It was a bearish night for digital assets as Bitcoin traded higher but risk assets traded lower. Still a lot of volatility in the markets.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||7.85||-10.83635||18,767,106.00||$432,683,071.00|
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