February 20, 2019    Market Commentary

February 20, 2019 Market Commentary

The past weeks capital has continued to find its way into the digital asset space as well as other capital markets.

As US Interest rates have continued to push lower, investors have been steadily allocating assets and diversifying portfolios.

The block chain sector has been one of the last to attract some of this capital, but historically, assets which experienced the most ferocious selling  will be the largest gainers.

 

Charts and Graphs Courtesy of Coinmarketcap.com and Barchart.com

 

CMC Block Chain Index (One Week)

 

 

CMC Block Chain Index (One Month)

 

CMC Block Chain Index (Three Month)

With the gains of the past week, the digital asset sector has shifted back to a slightly higher range.

 

Bitcoin , BTC, (3 Month)

Nearing the Midpoint of its 3 month range

 

Dogecoin, DOGE, (6 Month)

Doge is completing its bottoming process right above the 50 satoshi level in it’s BTC pairing.  This level sits just below the 50% retracement level from the Fall 2018 highs.  To complete the formation, Doge will need a quick move above 67 in the DOGE – BTC pair, and if it can hold the higher price level, then a retest of the fall highs is in order.

 

Ethereum, ETH, (3 month)

Ethereum has been battling for the number two position with Ripple on a daily basis.  For a clear break out, ETH-BTC will need to spend some time over the 3,750,000 satoshi level.  If it does not, ETH may consolidate in the current trading band.

 

PAC, $PAC, (3 Month)

Major consolidation over the past three months.  Very tight range, I imagine once the code update happens and more exchanges are added, you will see both sellers and buyer come out with significantly higher volumes.

 

Gold Futures, (GC,) 3 Month

 

Crude Oil Futures, (CL,) 3 Month

 

NASDAQ 100 Futures, (NQ,) 3 Month

 

NASDAQ and Crude 92.1% Positive correlation over the past 90 days

 

 

US Ten 10 Treasury Futures, (ZN,) 3 Month

 

Dollar Index Futures, (DX,) 6 Month

 

“Lower Rates”

“Stronger Dollar”

Higher Asset prices across the board

 

Lower rates and strengthening currency are rarely seen together, one is most likely very wrong.

 

 

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