Bitcoin Market Analysis for June 9, 2018

Fellow Steemit Users, it’s always a good day in the crypto-space. Whether markets are up or down, a wise trader can always find a way to turn a profit! Sometimes it is all about finding arbitrage opportunities between various trading platforms, sometimes it is about anticipating a rise after a coin experiences a slump, and sometimes it is just about holding your coins and watching those values tick higher. Whatever your preferred method of trading, we here at Cryptonews 24/7 will strive to provide you with daily analysis of various markets to help you in your quest to acquire more wealth, no matter how much or how little capital you are starting with.

When analyzing cryptocurrencies, it is important to look at historical trends in addition to the current market trends. This expansive analysis can provide you with a better picture of where the market has been, and thus, where it might be trending towards next.

Here is what the 1-Month Chart is looking like:

Here is what the 5-Day Chart is looking like:

Here is what the 1-Day Chart is looking like:

As you can see when comparing these three charts, Bitcoin appears to be continuing its consolidation at the $7600 level, while exhibiting hints of a minor upward trend that could signal an overall recovery of some value might be in the cards for the near future. We began our 5-day period with an approximately $400 dip in valuation, but experienced an almost immediate recovery of 2/3 of the lost value and have been tethered to that $7600 level ever since while experiencing smaller and smaller price dips every 48 hours or so. This trend has been continuing in the past 24 hours with both periods of recovery resulting in an overall higher valuation than when the major drops began.

We hope that you have found the above information useful, and we wish you the best in all of your endeavors.

Sincerely,
CryptoNews 24/7

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