Crypto update

in #btc2 years ago

It is September 16th, 2018

BTC dominance is currently at 55.8% (+0.2%). The total market cap is currently at $200.6 billion (- $2.1 billion). The market volume of the last 24h was $10.6 billion (- $0.6 billion).

Fundamental analysis

Irrational Exuberance Revisited: Is Crypto The New Dot-Com Bubble?

Very useful article about bubbles! It is time for crypto community to learn more about this phenomena. What is actually bubble and what are the consequences? Is that something positive or negative in long term view? Check it out on the post above!

Technical analysis

D1 time frame :

Forth day in a row the red area is not letting BTC to break it! As we mentioned yesterday the drop may happen and it did happen! It started from our area where we were looking for short entry!

Now, after 2 days of very good short area, we are in no trade zone because currently daily looks very tricky! It could turn bullish or bearish easily so we wont try to guess anything! We are looking for confirmation! Our team think that BTC has solid chance to reach mid bollinger band on D1 TF that is currently at the same price with EMA 50 ( 6700). It is the area where we will look for big swing short position! Everything else is currently mostly small swings or scalps!

Currently daily candle is more bearish than bullish but because of yestetrday daily close that was more bullish than bearish we are not going to short it until we get confirmation on H4 and H1.

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To your success, CS Team

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