Thoughts on the market at 16. 06.2020
Bitcoin updated the local minimum but did not stop below 9000: the strait was redeemed and the price of the main cryptocurrency sequentially broke through 9200-9300 within a day, and a few hours ago quite confidently fixed above 9500.
The market capitalization of 269 billion, dominance index 65.3
S&P 500 at the opening yesterday updated the local minimum, after which it moved to growth and closed at 3066.
The reason for the growth was the comments from Morgan Stanley - investment bankers forecast the S&P 500 index at 3350 (at the time of comment it was below 3000).
The imbalance between growing markets and a declining economy clearly requires a significant correction.
But the huge amounts that are thrown into the economy, but go to the stock market, prevent the markets from falling. If today the S&P 500 continues to grow, goes above 3100, or at least holds above 3050, the correction can be considered complete.
To send markets down can some significant negative on coronaviruses.
Now Asian markets are growing significantly, and Brent oil is returning to 40.
The fact that Bitcoin held above 9000 is a good sign for the market. For so long above 9000, the market was held only from June to September 2019, and the upper limit of the range was then at 12000.
If Bitcoin is kept above 9500 before the American session, the market returns to the well-known range of 9500-9800 and is preparing for another attempt to test 10K.
If we do not hold above 9500, then we go to the range of 9500-9300 and look forward to further developments.
In Profit ChieF, we hold transactions in Ether, XTZ, BNB, ZEC, and Bitcoin, and in Medium-term transactions - Bitcoin Bull and Ether Bull
Bitcoin updated the local minimum but did not stop below 9000: the strait was redeemed and the price of the main cryptocurrency sequentially broke through 9200-9300 within a day, and a few hours ago quite confidently fixed above 9500.
The market capitalization of 269 billion, dominance index 65.3
S&P 500 at the opening yesterday updated the local minimum, after which it moved to growth and closed at 3066.
The reason for the growth was the comments from Morgan Stanley - investment bankers forecast the S&P 500 index at 3350 (at the time of comment it was below 3000).
The imbalance between growing markets and a declining economy clearly requires a significant correction.
But the huge amounts that are thrown into the economy, but go to the stock market, prevent the markets from falling. If today the S&P 500 continues to grow, goes above 3100, or at least holds above 3050, the correction can be considered complete.
To send markets down can some significant negative on coronaviruses.
Now Asian markets are growing significantly, and Brent oil is returning to 40.
The fact that Bitcoin held above 9000 is a good sign for the market. For so long above 9000, the market was held only from June to September 2019, and the upper limit of the range was then at 12000.
If Bitcoin is kept above 9500 before the American session, the market returns to the well-known range of 9500-9800 and is preparing for another attempt to test 10K.
If we do not hold above 9500, then we go to the range of 9500-9300 and look forward to further developments.
In Profit ChieF, we hold transactions in Ether, XTZ, BNB, ZEC, and Bitcoin, and in Medium-term transactions - Bitcoin Bull and Ether Bull