This morning the Trump white house is rumoured to be considering a much larger stimulus bill, days after rejecting the Democrats $2.2 trillion bill.
Markets have been bid all week, with oil being the most sensitive asset to whatever is being concocted behind the scenes in Washington. Vague deduction of the movements so far suggests a large fiscal infrastructure expenditure in the United States.
Bitcoin has been bid on news of Square’s investment of 1% of its capital into the asset. Bitcoin has been nearing the end of a consolidation period into which some type of movement is expected.
A 1% allocation is tokenary and demonstrates a task of convincing stakeholders to make a greater investment but is obviously a step in a positive direction for bitcoin.
The chart shows the long-term up-trend at just over $10k and a support level also at $10k.
BTC last traded at $10,899
24 hr high: $ 10,957
24 hr low: $ 10,535
We are long in the break of consolidation and are happy to stay long for a break of the high of the consolidation, reconsidering the trade at X2 on whether it is capable of breaking the high in August.
If it does start coming off without support, we would consider a cut and reverse (short) if the market trades under $10,800 for a break of the trend-line at which (Y2) underneath which we would probably be happy to cut and reverse again and would consider at the time.
Ethereum traded higher with Bitcoin but looks ready to roll over at current prices. Eth failed to break out of its consolidation in the move overnight. Ethereum last traded at $350.
24 hr high: $ 353
24 hr low: $ 335
XX Outperformed XX Underperformed
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Aave||$LEND||0.452257||-0.25748||Error getting data||$568,353,639.00|
|Algorand||$ALGO||0.308894||Error getting data||Error getting data||Error getting data|
|Cardano||$ADA||0.095712||Error getting data||Error getting data||$2,976,893,149.00|
|Chainlink||$LINK||9.51||7.07322||725,276,475.00||Error getting data|
|Curve Finance||$CRV||0.546883||Error getting data||52,522,933.00||$43,447,427.00|
|Kyber Network||$KNC||Error getting data||Error getting data||42,416,735.00||$182,835,807.00|
|Maker||$MKR||Error getting data||1.78615||33,524,209.00||$484,389,087.00|
|Ren||$REN||0.273944||5.71735||Error getting data||Error getting data|
|Tezos||$XTZ||2.11||Error getting data||94,056,970.00||$1,533,420,413.00|
|Universal Market Access||$UMA||6.5||8.80921||19,352,806.00||$358,360,898.00|
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