Market Update
It is August 29t, 2018! BTC dominance is currently at 52.8% (-0.2%). Total market cap is currently at $230.5 billion (+ $5.5 billion). The volume of last 24h was $13.4 billion (+ $0.9 billion).
The market cap is growing step by step, in average $5-10 billion per day! The very important area that will give us a lot of answers about the strength of this trend is area around $250 billion. This area was very strong support for months until it got broken. So, previous support could turn into the ressitance!
The technical analysis
After yesterday's uptrend, we are now consolidating in area between $7000 and $7100. In this week, I think we should see test of $7400 area as I said because it is very important area on weekly chart! Currently, it is showing some weakness so we may see dump to 6900-7000 area but after that dump we are probably going to see at lest on more leg up!
The fundamental analysis
In last 24 hours, we didnt see any major news about regulation and things that are popular and very important at the moment!
The news that could be important is this shared by ccn:
" Russia May Unban Telegram…if it Shares Encryption Keys with the FSB "
https://www.ccn.com/russia-may-unban-telegram-if-it-shares-encryption-keys-with-the-fsb/
Also, the news shared by Cointelegraph proves that crypto is getting ready for mainstream adoption:
" Coinbase Research: 42% of Top 50 Universities Offer at Least One Crypto-Related Class "
The correction is closer and closer to ending! :)
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