Reaction wasn’t enormous, BTC first test of $9,000, but a case of if you blink you miss before profit taking began for the day. Flows are a lot clearer in LTC, perhaps on some squaring up of Crypto portfolios, but you’d have to expect there will be lots of soft hands wanting to take profit between $9000-8500. I certainly don’t think the BTC rally is over, we might however spend some time resolving this range over the coming sessions.
BTC showing resilience after testing 9000 this morning. There has been steady buying all day long with noise of Craig Wright fading into the background. I do think we should see 13,500 in the minimum flow so happy to hold longs for now.
LTC found some bids once again following the sharp breakout through 45 last week. I have a bias to stay on the long side as the Crypto inflows continue to remain, the price action suggests LTC has more room to go with 64 my initial target. Strong collateral factors and a robust Crypto market should continue to support the large inflows in LTC in Jan and Feb.
EOS a sizeable mark up after announcements from LiquidX justifying the breakout. This should open the door to $4.50 and $7.50 this year. The rally in EOSUSD that I expected on the lows has played out exactly as envisaged. The lows were capped around 2 and there was certainly a lot of demand to buy EOS around there. 3.50 is the line in the sand to buy any pullback from the breakout, which would be EOS supportive. Happy to hold EOS longs for now.