BTC update

The price of Bitcoin is roughly $6550 right , with 24 hour trading volumes around 5.25 billion USD. Volume have risen at a steady pace for the past week . This increase in volume has coordinated itself with a simultaneous increase in price, and is considered a positive sign for the overall health of the market, as it shows buyers taking control of price action. The Crypto community has been witnessing a plethora of news recently, that is strengthening the value proposition of the digital currency ecosystem as a whole.

Combining our recent technical analysis with the positive fundamentals arriving on a daily basis, a break of the bearish order block at $6800-6850 would ignite at least a short term bounce in crypto markets.

A break above $6850 to would lead to the unload fiat into the markets, or a break below $6050 would be a signal to short the market and convert crypto into tether and fiat.

In other news, Switzerland’s stock exchange (SIX) announced today that they will be building a fully integrated crypto/digital assets trading platform. SIX is regulated by Swiss Authorities as an operator of Financial market infrastructure.

Switzerland is one of the most important economic nations in the world. The average personal fortune in Switzerland is $530K, making their citizens, on average, the richest in the world. Essentially, the Swiss are a financially savvy nation and have been for quite some time. This move by SIX points once again to us that the financial elite are integrating themselves with the digital currency revolution.

Charts may not say it currently, but actions do. Crypto is here to stay. Those who continue to weather the storm of this bear market will likely be rewarded.