OSL Trader View — 13 Jun 2019

Hate giving mindshare to these people but have to admit, am pleased to see queries for Bitcoin still having a leg up vs. the Likes of Donald Trump and Kim Kardashian despite the declining trend. The correlation between Google queries and BTC px action is surprisingly uncanny.

The peak in queries superseded the +17% pop that lifted BTC from $6340 which extended to clock in a 43% move before pulling back to where we are now. The heating Sino-US trade war certainly playing a hand as well through the impact on the CNY which has been drifting higher on the back of this; -3.65% vs. the Greenback from mid-April. CNY-CNH spread widens on these abrupt moves (either way). Not to mention the demonstrations; reportedly over a million protestors took to the streets against the extradition bill slated to be voted by LegCo 20th June.

May the trend be your friend… Happy Trading!