A Welcome Step From The U.S. Regulator
(Source: forbes.com)

clicks | 2 months ago | Google AI sentiment 0.70 | comments: discuss | tags: ethereum bitcoin

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(Original link: forbes.com)

Tuesday began with early selling pressure during Asian and European trading sessions. Bitcoin (BTC) slid down to $3,800 while Ethereum ETH dipped to $127.35. However, as the US day began, we saw a quick turnaround with BTC back to $3,870 and ETH up to $134.30. The phrase ‘directionless trading’ springs to mind. Without any earth-shattering headlines, the rest of the trading day saw the broad market struggle to find momentum or direction. ETH would slip back to $132 but both EOS and Stellar would register 3% gains on the day. On the news front, there were headlines indicating that the US SEC is preparing for a number of ‘meet-ups’ to allow for participants in the fintech and crypto industries an opportunity to voice concerns and to seek clarity around the current regulatory environment. This should be viewed as a welcome step by the U.S. regulator to engage directly with the community. Technical Analysis
Below is an hourly chart for BTC with a broad horizontal channel drawn stretching back to mid-December. While the breadth of the channel is wide (just shy of $1,000), it reflects the current state of play. Market participants have become a little too accustomed to exponential moves and unprecedented volatility, neither of which are conducive to the growth of the market. While we continue to test either side of this channel, until we get a clear break, we believe the broader market will remain rangebound. Of course, there may be exceptions, but maybe the market needs to get used to lower volatility and more realistic price targets.
13th March 2019, David Hannigan. trade.io 13th March 2019, David Hannigan. trade.io
Tuesday’s biggest winner and loser. Tuesday’s biggest winner and loser.
With additional commentary & technical analysis by David Hannigan, Chief Dealer, trade.io.
Disclaimer: All opinions expressed by Jim Preissler are solely his opinions and do not reflect the opinions of Forbes, Forbes CryptoMarkets, their parent company or affiliates....