The Daily Dood for 2- 6 -18

Today's bitcoin high was about $7,900 USD with a low of about $6K on BitFinex

We started out the day with a low of around $6K in the early morning hours. As rumors began circulating that the SEC hearing in the US was going to be favorable towards cryptocurrency the price began to rise slowly. By mid afternoon after the SEC hearing, it was realized the rumors were indeed true, cryptocurrency market confidence returned, trade volume increased slightly and the price slowly began to rise more. A strong day on Wall St after yesterdays stock market correction may have helped as well.

It currently looks like we have some resistance around $7900 USD. and a little support around $7200 USD. Some consolidation in this band would be great. Look for a breakout above $8000 with resistance turning into support. If we fall below $7K things could get real ugly again so we're not out of the woods yet.

The Crypto Top 11

The top 11 looked much stonger today as well, as confidence returned to the altcoin market. The overall market cap began to rise again from just around $300,000,000,000 to around $355,000,000,000 this evening. All currencies in the top 11 began to rise by 15% or more right across the board. Bitcoins dominance fell slightly by a whopping ½ percent.

Today's Headlines

SEC.gov | Testimony on Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission https://www.sec.gov/news/testimony/testimony-virtual-currencies-oversight-role-us-securities-and-exchange-commission

Bitcoin Recovers Ahead Of Senate Cryptocurrency Hearing https://www.investors.com/news/bitcoin-recovers-ahead-of-senate-cryptocurrency-hearing/

Brave New World for Cryptocurrency Regulation: Expert Take https://cointelegraph.com/news/brave-new-world-for-cryptocurrency-regulation-expert-take

US man sues T-Mobile after his bitcoins were hacked http://ibt.uk/A6xeE?utm_source=social&utm_medium=twitter&utm_campaign=/us-man-sues-t-mobile-after-his-bitcoins-were-hacked-1659258

What Is PIVX? https://themerkle.com/what-is-pivx/

Most Crypto Traders in South Korea Remain Anonymous Despite Regulations https://news.bitcoin.com/crypto-traders-south-korea-remain-anonymous-despite-regulations/

Major Payments Processing Platform to Accept Litecoin https://www.newsbtc.com/2018/02/07/major-payments-processing-platform-accept-litecoin/

Virginia Senator Mark Warner: Crypto Market Could Hit $20 Trillion https://bitsonline.com/senator-warner-20-trillion

Coinbase Is Adding Segwit Support https://news.bitcoin.com/coinbase-is-adding-segwit-support/

Regulators Pressuring Google To Follow Facebook In Banning Ads Related To Binary Options, ICOs, And Cryptocurrencies https://www.newsbtc.com/2018/02/07/regulators-pressuring-google-to-follow-facebook-in-banning-ads-related-to-binary-options-icos-and-cryptocurrencies/

“ARK Explorer V3 — Developed From The Ground-Up, New Design, Quicker Response and Ready for Push…” by BoldNinja https://blog.ark.io/ark-explorer-v3-developed-from-the-ground-up-new-design-quicker-response-and-ready-for-push-4b66a87b5d9e

Cryptocurrency Prices Make Bullish Pivot as US Regulators Signal Cautious Approach to Markets https://www.ccn.com/cryptocurrency-prices-make-bullish-pivot-us-regulators-signal-cautious-approach-markets/

Youtube

The SEC Hearing On Cryptocurrency

Tweet of The Day

STEEMIT

🖖LIVE Q & A with SEAN WORTHINGTON FOUNDER of CLOUDCOIN last night. — Steemit https://steemit.com/crypto/@bluerocktalk/live-q-and-a-with-sean-worthington-founder-of-cloudcoin-last-night

The Memes Of Steemit

Crypto traders condition before Vs crypto traders conditions now — Steemit https://steemit.com/dmania/@freecrypto/crypto-traders-condition-before-vs-crypto-traders-conditions-now-zg1hbmlh-o2jq5

Links

Music and cryptocurrency commentary http://radiocrypto.com/

So many people ask me about TA or technical analysis and where to start. Tone Vays just put together a real great educational page covering the basics of TA. http://www.libertylifetrail.com/education/learntrading/

Here's something that's long overdue! The Crypto Scam Checker. Listing of known internet crypto scammers! https://fried.com/crypto-scam-checker/

LiveCoinWatch is similar to CoinMarketCap. Check it out if you like researching coins, trade volume, and who's in the top 10.
https://www.livecoinwatch.com/

It's looking like Binance is taking on new traders again. Sign up while you can, and find out why over 3,000,000 active cryptocurrency traders call Binance home!
https://www.binance.com/?ref=11560333

The End

The Daily Dood is a review of my daily Twitter feed and some of the interesting articles I find here on Steemit. If you're on Twitter hope you decide to join me here:

https://twitter.com/BitcoinDood

That's it for todays edition of The Daily Dood. If you found the information in this post useful I hope you decide to follow for the daily headlines and events happening in the altcoin & cryptocurrency space. Nothing here is meant as investment or financial advice. Please seek a duly licensed professional for investment advice, not some guy on the internets who refers to himself as The Dood. Thanks for reading and happy trading!