Morning Preview: Bitcoin is Now the Star!

Hey Fellas

Another interesting day on markets with stocks starting to look wobbly and the USD finding a bit of strength. I’ve been following the USD closely and it has really fallen away since the FOMC minutes a couple of days ago. As we come into the final trading day of the week, I feel that we’ve seen the low in the USD for the time being, so I’ll be looking to start getting bullish on the USD.

Bitcoin is Flying

The new start of the show is once again Bitcoin. Over the last month, it has been a wild ride for the cryptocurrency. When the Chinese started cracking down on digital currencies and ICOs, traders started getting nervous. Then JP Morgan boss, Jamie Dimon came out and had a swipe at them. That lead to some significant selling.

However, it appears that all is well and truly forgotten. Bitcoin is leading the charge of all digital currencies and is now trading above $5000.

I wouldn’t be looking to buy at the high, however, if we can get a pullback in the next couple of days I think it is looking like an opportunity to buy.

BTC/USD – 240 min Chart.

ABOUT THE AUTHOR See More

Rowan Crosby

Asia-Pacific Analyst

Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.

Related Articles

Bitcoin Price Prediction: Can BTC Break $86.5K as Miners Sell Off 40%?

15 hours ago

Save

Bitcoin (BTC): Resistance at $84,475 Holds as Bearish Momentum Looms

1 day ago

Save

Bitcoin Holding Pattern Could Suggest an Imminent Breakout

1 day ago

Save

Comments

0 0 votes

Article Rating

Subscribe

Login

Notify of

new follow-up commentsnew replies to my comments

Please login to comment

0 Comments

Oldest

Newest Most Voted

Inline Feedbacks

View all comments