Bitcoin Testing Key Short-Term Support Level

An immediate bounce-back in the stock market looks fleeting.

• The action in the stock market yesterday was not very impressive, we could/should see some more weakness on a very short-term basis…even if we still get a Santa Claus rally. (In other words, this mild decline is not presenting a great buying “opportunity”…at least not yet.)

• Bitcoin is close to testing its key near-term support level. If it breaks that level, it will be tough for this cryptocurrency. However, it will have to see A LOT more weakness before it would test the much more important support levels. Thus, its positive trend will remain solidly intact for now no matter what happens over the very-short-term.