Crypto Ideas & Daily market report November 6th 2019
Cryptocurrencies dipped lower early in European trading on Tuesday with a bitcoin retreat to below $9,200. Ranges were relatively contained during the day with bitcoin settling just above $9,300.
Markets continued to assess whether cryptocurrencies were trading as a defensive asset or a pro-risk asset given conflicting signals.
This uncertainty continued on Wednesday with bitcoin trading just above $9,300 in early Europe on Wednesday. Hopes of a more positive Chinese stance towards blockchain provided an element of support.
Ether traded with a significantly more positive tone and pushed above $190 in early Europe on Wednesday.
Trade of the day
NEO idea – We look to Buy at 9.9650
Target 1: 16.50
Target 2: 17.00