Cryptic ball: and no surprises.
Bitcoin pumped up to 5% last night, on no particular news other than some early reports that Russian troops were returning to their bases - deescalating fears that a war was about to break in Europe. Stocks followed in the morning, adding strength to this theory - which was fighting the narrative that Canada's plans to freeze the personal accounts of protestors (and more) were to blame.
In any case, the world is indeed awakening to the importance of "uncensorable assets such as bitcoin", as Alex Krüger puts it. But what's next? We're currently facing two scenarios. On the one hand, this is - so far - confirmation of a higher low, which hints at another attempt to conquer $46k. Conversely, a failure to overcome that level would print a double top, typically interpreted as bearish.
Remember any external events could favour one of these scenarios, as today's tweet tip jokes about, so keep an eye on all things new - but make sure you don't feel like today's meme! Lastly, the fact we didn't get a public report from the Fed's closed-door board meeting is good - in the sense we're not getting any surprise for now, with March's double hike possibility practically entirely priced-in! But this Thursday we'll know more about that in the Fed's publishe minutes.
Chart art: everything in its right place.
Three things: there are two posts in my ehad.
- Arca's Jeff Dorman argues there have been four successful blockchain use cases to date, sharing some ways to express their investment ideas.
- Ming Zhao lifts the veil on "10 under-the-cover trading hacks". Think about 3. applies to crypto.
- Andre Cronje shared some great "suggested reading for anyone wanting to get into smart contract development".