Starting in Germany, markets priced in Coronavirus lockdowns, stalemate and deflation overnight in some of the biggest moves we have seen in some time.
Oil and equity was hit particularly hard.
Bitcoin traded as if the original push higher was a false break out of the up-ward trend channel.
Traders should be aware that institutional players are less likely to chase the market, although the asset can obviously still reprice itself (which it had already done a bit of).
BTC last traded at $13,275
24 hr high: $ 13,864
24 hr low: $ 12,892
The best trade in BTC at the moment could be the wait for a break of the levels at $12,800 to get long at around $12,600 as the next point in a potential parabolic move higher.
Ethereum is beginning to look like it wants to make a parabolic move higher as well
24 hr high: $ 409
24 hr low: $ 380
Most digital assets were weaker with the broader market overnight with few winners on the day.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||7.16||-0.40051||23,843,312.00||$396,406,543.00|
There is a huge amount of data out overnight, but traders must think about how the market is going to resolve the moves overnight first and foremost.
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