In cryptocurrencies, bitcoin traded near two-and-a-half month lows as investors continue to digest Tesla Inc. Chief Executive Officer Elon Musk tweeted that the company would not accept the digital currency as a method of payment due to environmental concerns.
Meanwhile, fellow cryptocurrency dogecoin moved in the opposite direction, jumping as much as 20% after Musk said that he was involved in efforts to improve the token's transaction efficiency.
Investors are also monitoring a U.S. probe into Binance, one of the biggest cryptocurrency exchanges globally.
The market posture is negative. The slide back through last Thursday’s reversal leaves trade positioned to continue attacking under 46242. A close under 46242 projects to 42217. Any near term rebounds will find resistance at 52544. A close over 52544 is needed to recapture bottoming / bullish trade action.