Skip to main content

Bitcoin still reeling this morning

If you care to take a look at the Dow Jones price action on the charts, from 5pm GMT yesterday evening until the close and then do the same with the price action of Bitcoin over the same period, you will see an uncanny positive correlation. This has been mentioned here before and it was clear to see unfold again last night. Bitcoin jumped higher (towards 59.5k) with the Dow and then fell back with it too (towards 56.5k). That said, the lead cryptocurrency has somewhat decoupled from that in more recent trading and right now the topside looks hard fought so far today. Bitcoin is still camped someway south of the 100 day moving average that it busted yesterday. Looking at the longer term chart of this one, there is a level closed to 50k from here that comes to mind. Is that on the radar yet today? Well, that is hard to say, might it might yet become so, if the current downdraught extends further. There will be more to add on that later. Meantime, Bitcoin is currently trading at 57,650
 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!