Bitcoin fails to break resistance [Video]

Steve O'Hare Signal Centre

After the surge in Asia on Monday, cryptocurrencies held firm in Europe, although there was a bitcoin correction to near $38,000.

There were renewed gains after the European close with bitcoin attacking the $40,000 level.

There was, however, a sharp retreat at the New York close as Amazon downplayed reports that it would accept bitcoin this year.

Bitcoin continued to lose ground in the Asian session with lows below $36,500 before a recovery to above $37,000.

Ether posted further strong gains to highs above $2,440 before a very sharp dip back below $2,200.

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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