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Bitcoin back under pressure as Nasdaq breaks support

18 Sep, 2020

The US equity markets are coming under increasing pressure this afternoon and that has seen the Nasdaq 100 break below the noted support points at 10,945 and 10,936. It is now a question of how far it will break to the downside, assuming the move does not grind to a halt again. The move lower in the Nasdaq is not really helping the dollar much at the moment, but the tech fallout is having an impact on Bitcoin. Earlier the lead Cryptocurrency had another look above 11,000, reaching 11,045, but once again it shied well clear of taking on that 11,100 level. The subsequent drop back this afternoon is now pushing it towards session lows, as it trades to 10,875. The continued failure to break above 11,100 is setting up a potential weekend move to the downside

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