BTC/USD Market Update : BTC Tried to Break 6800 Twice!
Market Update
It is August 26th, 2018. BTC Dominance is currently at 53.7% (+0.1%). Total market cap is currently at $212.7 billion (- $2.6 billion). The volume of last 24h was $9.3 billion (-$2.8 billion).
BTC tried to break $6800 area of resistance and failed both time. Now it is currently trading at $6590. I won't say I told you but check or last post and it will be clear what was our opinion on BTC!
Now, oue team is waiting for potential pullback to mid bollinber band m15 or h1 to take new short position!
In crypto at the moment even the fact that more than $500 million Tether (USDT) were printed in August doesn't help too much!
(More on the link: https://cointelegraph.com/news/bloomberg-more-than-500-mln-tether-issued-in-august-is-not-impacting-crypto-markets )
In the article, Bloomberg noted that the allegations that Tether has been used to manipulate or stabilize the price of Bitcoin (BTC) — previously put forward in a paper from the University of Texas — are not holding true for the crypto markets this August.
In current market, every pump should be considered as a better opportunity for shorting! Until we change market sentiment, I do not expect test of local high ($8.5k) in near future! Near future means at least 3-4 weeks!
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