Cryptocurrencies

Crypto currencies went into freefall earlier today, with Bitcoin falling over 20% at the low of the session.

With Gold prices stretched and Bitcoin Around Key support, convergence could be approaching.

Bitcoin’s shakeout at the highs continues after tumbling over 8% early Asia. Over 5% of which, was shed within 30 minutes.

Despite today’s tentative recovery, there are some technical signs that Bitcoin has formed a near-term top...

On Sunday night during quiet trade, Bitcoin rallied 7% within an hour to take it to fresh highs and see the crypto currency higher on a year over year basis for the first time since November.

Bitcoin was in the process of potentially forming a bearish outside bar candle on its daily chart, so this phase of the uptrend could come to an end.

After both breaking higher in style, CNH and BTC have stalled at a technical juncture. The world awaits their next move.

Most risk assets are selling off on fears of a negative outcome from US-China trade talks, but Bitcoin is quietly defying that trend.

The pressure was building for Bitcoin to break above the technically-important $4200 level over the past several weeks and today it finally gave way.

With headlines flying ahead of tonight’s high-profile Brexit votes, a big dovish shift at the RBNZ, and the “race to the bottom” in global bond yields, what topic should an experienced market analyst write about? Why, Bitcoin of course!

“I think it’s essential to remember that just about everything is cyclical. There’s little I’m certain of, but these things are true: Cycles always prevail eventually. Nothing goes in one direction forever. Trees don’t grow to the sky. Few things go to zero. And there’s little that’s as dangerous for investor health as insistence on extrapolating today’s events into the future.” - Howard Marks, billionaire investor

With tongue fully in cheek, I feel a bit like the editor of a local news outlet this morning – “Which of these many disasters do I cover today?”

It’s been less than nine months since traders flipped their calendars to 2018, but cryptoasset bulls have aged years (if not decades!) since the holiday season’s euphoria.

The technical outlook on Ethereum hasn’t changed much since our last update on it at the start of the month

Crypto currencies have been in demand again of late, with prices making higher highs and higher lows. It is not clear what exactly is behind the rally but with the stock markets falling in the US, they may have found some safe haven flows.