Today Bitcoin futures once again found resistance at the level it had broken above on Monday of last week. This level is the 23% retracement from 2019’s highs and comes in at $11,900. Currently BTC futures are up fractionally on the day and pegged at $11,760.
Today Bitcoin futures took another step toward reaching the highs of 2019 highs today with BTC futures posting a $550 (4.6%) gain currently trading at $12,485. BTC’s intra-day high today of $12,635 was a price point that we have rarely seen even during the 2019 run up.
Last night or Tuesday morning overseas gold futures began trading lower and by the time that New York markets were opened for trading it was not long before gold futures broke back down below $2,000 per ounce. Gold was not alone in losing over 5% in fact, all of the precious metals lost at least 5% in value yesterday.
Last Monday, July 27th BTC futures broke above $10,500 for the first time this year. The level of $10,500 has held historical résistance and was effectively a ceiling for the entire first half of 2020.
Bitcoin futures on the CME are trading slightly higher on the day currently up $10 on the day and trading at $11,610. This docile appearance of recent actions would not be so calm on actual Bitcoin traded across many platforms. Over the weekend specifically on Sunday, Aug.
