Bitcoin and Etherium rallied in the last few days to early 2020 highs. This white swan event has slightly further to go up but may bounce off of resistance at $10495.92 or around that area if it breaks through there who knows where it will go as it will be achieving highs against the dollar never previously seen.
Bitcoin stored in Etherium
There is talk that Bitcoin is being stored in etherium contracts. This provides a very secure way to store bitcoin (which seems quite strange in a way) but is attracting market investment. However I would be cautious because a rally like this MUST pull back half way before going north (at which point I’m sure the usual nay-sayers will be out in full telling us the cryptocurrency has crashed.
My worry here is that this is market manipulation and the high price cannot be sustained in the longer term. I prefer trading pairs that have volatility but there is a reason behind their movement.
charts courtesy of StrobotUltimate
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