Market Snapshot – Cryptos Begin Recovery

Cryptos Rebound

The crypto markets seem to be on the path to recovery after the prices fell over the weekend. The end of March marks the end of the month which is the tax season in many parts of the world. It also marks the end of the quarter and it has been a quarter in which the prices of bitcoin fell by over 50% and we believe that the traders and the investors would be happy that the worst is behind them. The bulls would be looking to seize control of the BTC market and for that, they need to recapture the $7400 region first. This has been one of the main regions of support for the prices and once this region is broken back through by the bulls, they would be able to bring in confidence for the other traders and the investor to start buying BTC effect and the bulls would hope that this would start a snowball effect and bring in more buyers and more demand. Else, the bulls are in real danger of being wiped out in the short term and we believe that the bulls would need to achieve this in the next 24 to 48 hours else they would be exposing themselves to the selling due to a lack of confidence in the markets.

Stocks in Slow Recovery

The Asian stock markets showed a bit of recovery after a long weekend in any parts of the world. Most major stock markets in Europe and the US are closed for the Easter Monday but some of the markets in Asia were open today and they were able to push a bit higher on the back of some decent risk sentiment. This is likely to continue into the day tomorrow as well as many of the trader return bac from their long weekend and the liquidity returns back to normal.