Bitcoin Breakout

Today's Highlights

• A Sad New Record

• An old adage

• Bitcoin Breakout

Please note: All data, figures & graphs below are valid as of December 21st. All trading caries risk. Only risk capital you're prepared to lose.

Market Overview

Bittersweet emotions on Wall Street yesterday as the Dow Jones reached a brand new all-time record high of 19,986.50 points. Try is it might it just could not muster the additional 13.5 points required to cross the party level of 20k.

Maybe we'll see it cross today and the raging bulls can cool their jets a bit.

Still, the fact that global stock indexes are rising and gold is falling in the wake of multiple terror attacks around the world seems a bit counter-logical. There's an old adage in the market that may be fitting here...

"The markets can remain irrational longer than you can stay solvent."

Meaning, a short term trader needs to make sure they're on the right side of the moves.

Bitcoin Surge

If not in the stock markets, the fears are showing up somewhere. It's been said before that Bitcoin is the new gold. So while gold shows absolutely no sign of acting like a barometer of fear, investors can start to look at this new shiny digital matter for guidance.

This chart shows the price over the last few months. The yellow line was the previous high of $775 a coin reached in June. The price has now shot past the previous high representing a very strong breakout.