OSL Daily Update - October 12, 2020 

$BTC 24 Hour High $11,400
$BTC 24 Hour Low $11,300
$BTC +0.6%

Stimulus talks in the United States remain on hold as President Trump blames Nancy Pelosi (despite GOP Senators alongside the Speaker) for the lack of a deal, a situation that may affect the current bullish momentum we saw last week.

Digital assets market:

  • Digital asset market cap at 352B to start this week; moving up for the past five consecutive days since dropping to 321B monthly lows. As a whole, markets look to be waiting for the next big news to steer the direction of the ship.
  • As a form on confirmation; Google search results relating to DeFi has dropped since September 
  • $BTC trading broke 11K over the weekend and has since been range bound throughout (between 11300 and 11400) after moving up 8% since Oct 1st.  Looking to target next resistance at 11,500 throughout the week on increased volumes
  • $ETH following $BTC, moving up for the past four consecutive days (from 340 to 375 levels), currently range bound at 370 to 376, trading at neutral RSI levels.

Alts and DeFi watch:

  • $ATOM saw an uptick of 10% over the past 24 hours to 6 levels
  • $LINK got back above 10 after dropping down to 8.33 levels during its most recent sell-off.
  • $YFI volatility has increased since founder, Andre Cronje, stepped away from development after receiving unfair criticism surrounding his Eminence project. It's trading at 16,300 levels within a 2,600 trading range (between 15,100 and 17,750).



OSL Trader View and Weekend Digest are contributed by Stefan Chu, SJ Oh, and Santiago Nazaretti



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