Good morning ladies and gentlemen,
The price of Bitcoin is $6,833 at the time i'm writing this , with 24 hour trading volumes around 4,4 billion USD.
Fundamental analysis :
Bearish News : ( bad news )
Last few days we had a FUD and a sell-off, the media was talking about Coinrail Hack, 40 million USD were stolen, but that exchange ranked 100th in term of volume. but as always big investors will liquidate their assets and price will drop. it's just a small FUD
link : https://bitcoinmagazine.com/articles/south-korean-exchange-coinrail-hacked-40-million-crypto-reported-stolen/The other pressing issue within the space is that the U.S. government officials have ordered multiple cryptocurrency exchanges to fork over comprehensive trading data in order to aid in their investigation of whether or not cryptocurrency markets are being manipulated.
link : http://bitcoinist.com/4-exchanges-must-turn-over-comprehensive-information-to-us-government-investigators/
Bullish news : ( good news )
US Regulator Gives Epic, Historic Speech at the UN on How Cryptocurrency Will Change the World
link : https://dailyhodl.com/2018/06/11/us-regulator-gives-epic-historic-speech-at-the-un-on-how-cryptocurrency-will-change-the-world/we all know what was the effect on the market when china banned the cryptocurrency trading, a huge dump, but what if i tell you that the government is changing it's stance on bitcoin and alts and soon i think it will lift ban , fresh new money coming yoow ...
link : https://dailyhodl.com/2018/06/06/china-is-changing-its-stance-on-bitcoin-and-cryptocurrency-facing-pressure-to-lift-ban/
Technical analysis :
Bitcoin broke the uptrend that he was forming since February. It failed to make a lower low.
It's still bouncing on the January downtrend that became a new support.
Next support is around 6.000 $ this support hold the price 3 times successfully, and every-time price bounce with a good volume it will be a good buy at that price, if that support is broken we will see 4.500$ and at that time bitcoin will bounce very hard because we will never see again bitcoin at that price.
RSI : is at a good level, ready to bounce.
MACD : is not looking really great now.
Volume : forming a good pattern : volume down + price down
RULE : Price Down–Volume Down (PDVD) in a downtrend this can suggest that the retreat is slowing or beginning to end as there are fewer people interested in buying or selling the stock at these prices. In an uptrend this may indicate the stock is stopping for breath or due a pull back before continuing on its upward trajectory. Volume tends to trend in the same direction as the price trend, so PDVD also suggests a continuation of the main down trend, or a pull back and possible continuation of an uptrend.
PS: i analyse bitcoin and market every month, follow and upvote if you like my content this will encourage me to keep writing for you and educate you
Please trade at your own risk, i'm not a financial advisor
Do your own research
I need to reread this and go through those links but this is an excellent insight into how you do your analysis and what you weigh up. Brilliant post - I have resteemed and upvoted! 👍