Bitcoin Update 3.26.18
Bitcoin Takes a Break & China's Oil Petro-Yuan Oil Futures Market Open
Is Bitcoin lost and confused? A bit tired and taking a rest?
Let's keep it up BTC because the longer you stay in this range bound motion the better off our altcoins will fare for the moment. BTC spent the majority of the between 8300 and 8600 playing with that lower Fib level from yesterday 0.236 at $8320.
https://www.tradingview.com/x/b3SzR5Ct/
In other news, yes related news, China has opened futures markets for Petro-Yuan. At 9AM local time in China crude oil contracts began trading on the Shanghai International Energy Exchange - the first set of futures with September settlement. This means there will now be the ability to purchase oil from the Middle East using Yuan - this is not good news for the USD or any paper assets.
What is it good for? Crypto.
As this weakens the USD.
A currency war it seems to be taking place, USD now pitted versus the Yuan and this was a major power play on China's end. With a weaker dollar expect to see more money moving away from paper assets (stock market is doomed) and racing into crypto and the commodities.
http://www.btcbtfd.com
http://www.bitcoinbuythefuckingdip.com
https://www.reddit.com/r/BitcoinDayTrade
https://twitter.com/BTCbtfd
https://www.facebook.com/groups/BTCBTFD/