Hello steemitans,

Today price of Bitcoin is $6518 with around 4.3 billion USD in 24 hour trading volume.

As highlighted yesterday, we expected a retrace to the $6300-6450 price range for $BTC. Taking a look at the 4hr chart for $BTC, (see chart below), we see a wick into the support zone at $6415. This was the type of price action we were looking for but due to unconvincing volume we assume that the price will challenge this support at least one more time. We began accumulating alts and $BTC around that price point and will look for more buying opportunities in the coming 24 hours.

In our opinion, if the daily candle can hold above $6300 then the bullish case is still in tact. If Bitcoin closes below this mark then our team will return to net short and heavily weighted fiat positions and look for another opportunity to buy back in the future.

Yesterday, a strange trading occurrence took place on Binance’s platform. One trader managed to spend 96 $BTC for one $sys token. Essentially spending over 600k for a token thats market value trades around $0.25. Ouch… This resulted in Binance halting trading as they were investigating the matter by making sure this wasn’t something that occurred due to a mistake on their end. Immediately the FUD began to spread that Binance was hacked. This is not an uncommon story in the crypto space, but, most of the time, these developments hold no real value.

Once again, Binance proved their reliability by alerting the crypto community that funds on their platform are indeed safe.

It's our responsibility to spread the news, so that others will not miss the boat.