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(+) Crypto update: Bitcoin price drops $ 3,000 in two days while South Korean regulations worry majors down

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Wednesday market summary

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Trump Current Value Daily Change
S & P 500 2685 -0.07%
DAX 13070 -0.02%
WTI Crude Oil 59.59 -0.62%
OR 1291.00 0.61%
Bitcoin 15145 -6.30%
EUR / USD 1.1899 0.31%

US markets have ended today's session virtually unchanged, despite the first gains in the main indices, the sustained selling pressures that drove the stock down. Benchmarks are still trading close to their historic highs, though participation in the rally remains tepid, and apart from the clues, life is less rosy on Wall Street.

S & P 500 Futures, Graphical Analysis at 4 o'clock

Stock markets had a very quiet day, but not so much in bonds, as the prevailing trend in US Treasury markets, namely the collapse of the yield curve, resumed after the move against -take pre-vacation. To be precise, short- and long-term treasury bills have recovered today, but the longest end of the curve has come down much more, with short-term yields declining only slightly.

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TLT (long-term ETF), 4 hour graphical analysis

While the inversion of the curve, a major recessionary sign in previous economic cycles, not dominated by QE, at this rate, we could face that in a few months. Stocks were slightly frightened by large movements in treasury bills, and as Apple (AAPL) failed to rebound after yesterday's sale, the NASDAQ continued to drag out the others a little bit indices.

Forex markets have returned to volatility, as shopping centers around the world have reopened, and recent short-term trading has remained at the center of attention, including some commodity-related currencies. on the greenback. Aussie climbed nearly 1%, oil and gold rising for two weeks, while the Canadian dollar continued its rally.

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AUD / USD, Chart Analysis at 4 o'clock

As currencies have reacted to recent commodity trends, crude oil has somewhat corrected after the recent rise, although gold has added to yesterday's earnings 39, approaching more and more the level of $ 1300.

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Now, analysis of graphs in 4 hours

Cryptocurrencies

As expected, the trading activity accelerated in the crypto, and if the general rebound continued in early trading, Bitcoin and most of the altcoins fell in the second half of the session. BTC reached an intra-day high of $ 16,500, but lost $ 2,000 and still finished around $ 15,000 after the end of the US session.

BTC / USD, 4 Hour Chart Analysis

Most of the major altcoins are also lower after an active day, but still at low volume, with Ripple standing out again, hitting a new all-time high at the end of the day. The currency has surpassed the $ 1.25 level after an already strong session, and although the long-term trend is already overbought, the short-term trend is still positive and the $ 1.5 level is now in sight.

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Ripple / USDT, 4 Hour Chart Analysis

Monero and Ethereum are the other two relatively strong majors from a technical point of view, but as long-term bearish pressure is still apparent in the segment, investors should wait for configurations with better risk ratios. / Reward begin to appear, as the correction goes on.

Image from Shutterstock to photo

Warning: The analyst owns cryptocurrencies. He holds investment positions in coins, but does not engage in short-term trading or day-to-day trading and does not hold short positions on coins.

Important: Never invest (exchange with) money that you can not afford to lose comfortably. Always do your own research and due diligence before placing a trade. Read our Terms and Conditions here. The recommendations and commercial analyzes are written by our analysts who may have different opinions. Read my 6 Steps to Financial Freedom here. Sincerely, Jonas Borchgrevink.

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