The U.S. 10-year treasury bond yielded 1.28%, +1 bp, with the Dow +100, up 0.32% in pre-market, at the time of writing.
Chinese Tech shares in HK pulled back amid concerns over increased regulation, weighing on Asia-Pacific markets.
The X-A-B-C-D pattern complete and bullish engulfing candle highlighted yesterday has seen a follow through in buying today. The RSI and MACD are showing green shoots.
Supports at $31,000 and $30,000 held overnight, but to really turn bullish, we must see a retest of the congestion zone between $28,700 and $30,000. Be weary of a fake-out at the lower levels and only reassess long positions upon a close below $27,000. We'll be buying the dips.
Mini bull runs continue for day traders. The uptrend line is steep and can be easily broken for a back test of recent lows. On the topside, we see overhead resistance at $33,330, $35,020, and $35,950, respectively.
This Chart still looks bearish, with MACD and RSI showing negative momentum on a weekly basis.
A candle close above $35,000 is required to turn this chart bullish.
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BTC rose another 3% yesterday, currently at $44,600 and tantalizingly close to the 45K resistance/support.
Bitcoin has enjoyed a positive trading session today, with prices up 7% post this morning's news that China had taken some small steps to avoid an immediate default from Evergrande. The addition of liquidity to the banking system may just be a shock absorber for next week's action, or it could be the first shot in a sustained program to assist with Evegrande's woes.