Quick Markets Update

Let’s start with the daily chart for BTCUSD, which is now testing the neckline once again after the failed breakout from the bull flag as the original backtest. When BTCUSD couldn’t take out the initial breakout high, that’s when the larger rectangle began to form. Now the critical backtest is in play once again around the $111,850 area, which would be where the all-important 4th reversal point is located.

The CDNX is still trading in the middle of it’s new trading range above its 50 day sma.