This Week's Hot Trade: Why We're Watching Bitcoin

This is Charting Futures This Week. Gold tumbled Monday, after U.S. President Donald Trump and Chinese President Xi Jinping reached a trade war truce. Gold slumping back below $1,400 an ounce. We're also watching crude oil and Bitcoin.

The cryptocurrency crashed on Monday undoing some of this year's rallies. Despite that, it's still up about 200% since the start of the year. We continue with a technical analysis on Bitcoin. Mike McGlone with Bloomberg Intelligence focusing on Bitcoin.

The ease with which bitcoin, in orange, broke above the bear market's most traded price, $6,500, indicates full recovery. Futures open interest, in white, reaching new highs reflects increasing institutional exposure.

This puts the next big resistance near $20,000. Sustaining below $6,500 is a good definition of risk as it would indicate failure. Holding should prevail in volatile Bitcoin. this is charting futures this week gold tumbled Monday after US President Donald Trump and Chinese President Xi Jinping reached a trade war truce gold slumping back below $1,400 an ounce were also watching crude oil and Bitcoin the crypto currency crashed on Monday undoing some of this year's rallies despite that it's still up about 200 percent since the start of the year we continue with a technical analysis on Bitcoin a mic mcglone with bloomberg intelligence focusing on Bitcoin the ease with which Bitcoin in orange broke above the bear markets most traded price 6,500 indicates full recovery futures open interest in white reaching new highs reflects increasing institutional exposure this puts the next big resistance near 20000 sustaining below 6500 is a good definition of risk as it would indicate failure holding should prevail in volatile Bitcoin you


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