I woke up this morning to a disaster.
Bitcoin and Ether damn well dropped back again.
U.S. stocks were weak yesterday,
and U.S. stock futures are still falling in early trading today.
But fortunately, after today's daily candle closed, Bitcoin was still above 81,500,
and after that wick down, it has already bounced back to 82,000.
Bitcoin and Ether bounced back before U.S. stock futures did.
Lately, the main risk for Bitcoin and Ether has been tied to U.S. stocks.
When U.S. stocks fall, it's hard for Bitcoin and Ether to rise, too.
Right now, U.S. stock futures have strong support around the 30,000–30,500 level.
I don't think U.S. stocks will fall much further.
We're already almost halfway through the month.
The first half of the month has been choppy and trending downward,
so the odds of a choppy upward trend in the second half are increasing.
The 81,500 level is still strong support; it's held several times.
I'm confident it can hold this time too.$BTC
Bitcoin and Ether damn well dropped back again.
U.S. stocks were weak yesterday,
and U.S. stock futures are still falling in early trading today.
But fortunately, after today's daily candle closed, Bitcoin was still above 81,500,
and after that wick down, it has already bounced back to 82,000.
Bitcoin and Ether bounced back before U.S. stock futures did.
Lately, the main risk for Bitcoin and Ether has been tied to U.S. stocks.
When U.S. stocks fall, it's hard for Bitcoin and Ether to rise, too.
Right now, U.S. stock futures have strong support around the 30,000–30,500 level.
I don't think U.S. stocks will fall much further.
We're already almost halfway through the month.
The first half of the month has been choppy and trending downward,
so the odds of a choppy upward trend in the second half are increasing.
The 81,500 level is still strong support; it's held several times.
I'm confident it can hold this time too.$BTC