North Korea strikes again, so we can copy and paste the sentiment from the beginning of last week. Our attention will slowly shift towards the central banks this week with the ECB being the crème de la crème of the macro calendar. For today’s analysis, we’ve prepared a mix of a cryptocurrency, a precious metal and an index.
Bitcoin is going down, influenced by the regulatory outbursts from various central banks and governments. This time, it’s mainly the PBOC, which wants to limit, or even ban, ICOs. Bitcoin is undergoing its fourth serious correction of the year and maybe this time it will retrace something around 1000 USD for 1 BTC.
Next up is gold, where the price is aiming higher, but in the short term, there is a chance for a gap closing movement. Even a move slightly stronger than that will not retrace the whole bullish sentiment that we have here. The closest support is 1300 USD/oz
The last one is SP500, where we are still in positive territory. The drop after the weekend was small and will most probably end with the price aiming higher. Why? Because for the past few months, this is how it’s always ended...