Btc update!!!

in #btc2 years ago

It is September 29th, 2018

BTC dominance is currently at 52.1% (+0.3%). The total market cap is currently at $216.5 billion (- $7.5 billion). The market volume of the last 24h was $15.8 billion (- $0.5 billion).

Fundamental analysis

US Congressmen Call on SEC for Regulatory Clarity Regarding Cryptocurrencies

70% of Small-Cap Cryptocurrency Tokens Now Worth Less than ICO Raised

Bitcoin Fraudsters Misled Investors and Impersonated Regulators, CFTC Alleges

Technical analysis

H4 time frame :

Our final long target has been achieved yesterday and then we saw the dump. The price is going up and down, ranging in the channel and the chances for uptrend or downtrend are almost the same! But what we want to say is more fundamental or more about market sentiment! We think that chances for downtrend and higher than chances for uptrend and here is the reason! Market get used to this price! People are not scared to see BTC at 6k. It is becoming normal! When something becomes normal in crypto world, it is warning sign. We got a lot of positive news in last few weeks but nothing significantly did happen! Our opinion is that BTC is most likely going to continue to go sideways for next few weeks because TA is not read for both uptrend or downtrend! But because of current market sentiment, if we see some big move in next few days, more likely it is going to be dump!

Now, everything depends on FA. We todl you few weeks ago, when we get 2-3 bit positive news, the bottom is reached and bull run may start! These news could happen in few days or few months! Once it happens price will go up! So generally, for investing, if you buy now, you are buying close to the bottom and for an investmnet is is perfect buy entry! But for trading, ever $ does matter and that's why we are waiting only for safe etries with positive risk to reward ratio!

Daily time frame :

It is testing support area. If it closes above, we will look for long entries, otherwise we will look for short entries! Currently, it is very indecisive so we are going to trade only with confirmation!

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To your success, CS Team!


I wish the price of BTC go up at the end of this year as it did last year. But for the sake of now let's wait and watch what will happen.

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