Bitcoin made fresh all-time highs in March, but in typical volatile fashion for this new asset class, it’s already corrected well over 19% in just a few weeks. After last week’s reversal higher, we would be looking for buying opportunities from a trading perspective, a bullish read-through for stocks.
NB For new subscribers, MM doesn’t trade or invest in cryptocurrencies, but we do use them to indicate the market’s “free liquidity” for speculative assets.
- Bitcoin is consolidating its recent explosive gains. Below $US60,000, the risk/reward ratio looks attractive for traders.
MM is now neutral to bullish towards cryptocurrencies short-term
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