OSL Daily Update - October 15, 2020
$BTC 24 Hour High $11,500
$BTC 24 Hour Low $11,400
Not much to note overnight as markets were stagnant for the second consecutive day and the major coins were largely range-bound, a trend that has persisted all week.
- Digital asset market cap at 351B, down another 3B from yesterday.
- $BTC maintained support at 11,300 but is still trading range-bound after rejecting 11,500 three days earlier (Oct 12th). Prices have dropped slightly over the past couple consecutive days. Currently trading at neutral RSI levels within a tight bollinger band.
- $ETH also found support above 373, currently trading at 377 with a tight traded range of $4 and has dropped slightly over the past 3 days, coupling movements with BTC. Next psychological target remains at 400.
- $BCH inched up 2% (~$5) from yesterday to 258, month to date has improved 13%. Most recent high at Aug 2nd at 338 levels (currently down 21% from that high)
Alts and DeFi watch:
- DeFi TVL up 10M to 11.36B
- $YFI dropped for its fourth consecutive day as it’s been unable to win back DeFi supporters at the moment with a lack of a voice on their social media platforms post-Andre and new staking opportunities. It has dropped 23% over this period trading at 14,000 levels and 1.24 YFIBTC
- $LINK maintaining above 10.50 levels, trading range-bound between 10.50 and 11. Currently trading at oversold RSI levels, but still 3% above 10d SMA expectations
OSL Trader View and Weekend Digest are contributed by Stefan Chu, SJ Oh, and Santiago Nazaretti
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