The World Bank rejected a request from El Salvador to help implement its new bitcoin policy citing “environmental shortcomings.” The rejection points to a hesitancy among institutions to get involved in crypto. Despite the growing adoption by banks and businesses, the growth potential remains huge. BTW I’m long bitcoin.
The Fed announced it COULD raise interest rates as soon as 2023 and the algos sparked a market sell-off with the SPY dipping 1%. It’s the most volatility the market’s seen in a while. Its current stance is unchanged. The Fed said it’s talking about talking about having a meeting … I think this dip gets bought.
More action in the OTC this week. I’ll likely keep my focus there today.
Futures are down near yesterday’s low.
*SNPX has support at $9
*VINO has resistance at $8
*GBS has resistance at $5
*MTP has resistance at $4
TRCH is on watch
OTC (on watch, no levels):
HTZGQ, ABML, ENZC, RECAF, DPLS, PHIL, AMMPF, MJWL, RSHN, RLLCF, LWLG, ALYI