While very technical, also historic, dramatic and influential.
When there is no market for a certain asset, we don't see a price decline, what we see is market failure.
US oil prices plunged well below $0 which is the lowest level since NYMEX opened oil futures trading in 1983.
Possible short opportunity right now with major indices as Coronavirus spreads and volatility expected to continue.
UK FTSE100 is brought here as an example.
Notice the lowered, yet conservative, second bottom as expectations are for cases to surge due to underestimation of people infected and/or surge in unemployment.
Ideal point of buying is up to 5% above...
While Bitcoin proved resiliency in this ongoing crisis pushing towards 6,500 mark again with an intraday surge in value, a 30 day/120 day MA analysis shows a possible bearish crossover indicating a possible Sell
Bitcoin can be crowned king in case of a further decline in equity and even a possible market failure (e.g. circuit breaker, market suspension)
