Bearish channels in cryptos capping upside [Video]

Steve O'Hare Signal Centre

Cryptocurrencies were little changed during the European session on Monday with markets monitoring overall risk conditions.

Bitcoin consolidated just above the $57,000 level but surged again just after the European close with a push to highs near $59,000.

There was further choppy trading due to shifts in risk appetite and fresh reservations over the Omicron situation triggered renewed losses in Asia with bitcoin dipping to near $56,000.

After consolidation around $4,300, Ether also posted a strong advance to around $4,500 before a retreat to near $4,400.

Author

Steve O'Hare

Signal Centre

Steve has over 30 years of trading experience in Commodity, Equity and Fixed Income markets, in both research and trading.

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