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IPFS News Link • Bitcoin

In Brief: Bitcoin Blastoff

• https://www.zerohedge.com, BY VBL

Gold is up $7 and Silver is up almost a full percent at $25.47. Oil is softer and Copper is firm.

Nat Gas is up 10 cents. Bitcoin is up 19.40% from Friday's close and Ethereum is up 18 percent If you ignore Bitcoin, it means little. The accompanying news is about the infrastructure bill and the escalating rhetoric between China and the US. Covid fears are ratcheting up some as well. That would explain the bond rally and flat stocks. The bid in gold is not much to get excited about given the real rates being so negative. But that will matter when it finally does matter.

On Deck: It's a quiet day ahead of the start of the Federal Reserve meeting this week. June new home sales data is released at 10:00 a.m. Tesla Inc. reports second-quarter earnings after the bell, with Lockheed Martin Corp., Hasbro Inc. and Ameriprise Financial Inc. also due.- Source

The following are excerpts from Moor Analytics Technical Reports posted here with permission and not actionable out of full report context

Upside: I am writing this from the higher call. Get long on a decent penetration and/or pullback above $1,813.0 (-1.2 tics per/hour starting at 8:20am)

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If you ignore Bitcoin, it means little. The accompanying news is about the infrastructure bill and the escalating rhetoric between China and the US. Covid fears are ratcheting up some as well. That would explain the bond rally and flat stocks. The bid in gold is not much to get excited about given the real rates being so negative. But that will matter when it finally does matter.

 

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