Btc update

It is September 10th, 2018

BTC dominance is currently at 55.5% (+0.1%). The total market cap is currently at $197.1 billion (- $3.1 billion). The market cap of last 24h was $11.3 billion (- $1.1 billion).

Fundamental analysis

Australian authorities putting driver licenses on the blockchain

https://www.itnews.com.au/news/nsw-puts-digital-drivers-licence-on-a-blockchain-512298

Major bank CITI group looking to create bitcoin security product before other competitiors

https://theicojournal.com/exclusive-citigroup-source-bitcoin-security-adr-beat-rivals-to-market/

Despite Ban, China Keeps Trading Cryptocurrency Thanks to Tether and VPNs, Says Report

https://cointelegraph.com/news/despite-ban-china-keeps-trading-cryptocurrency-thanks-to-tether-and-vpns-says-report

What people don't understand is that Bitcoin is not some program that you can ban and people wont be able to use it! It is a protocol and as long as we have internet access, we will be able to buy, sell and send bitcoins without any problem! If your country ban bitcoin, well there are more than 200 other countries! You are not a rock! If you don't like where you are, MOVE!

Technical analysis

4h chart : https://www.tradingview.com/x/vfzguG7N/

Price is still below mid bollinger band! Our team is not in a position! A lot of pumps and dumps are sign of consolidation and the beginning of the ranging market! We do not think that it will last for weeks but at the moment, we will short only if price reaches our entry zone (top bollinger band h4/ mid bollinger band d1). Everything else would be just FOMO entry!

Weekly chart: https://www.tradingview.com/x/5FVPYvnS/

If you are curious why we are looking only for short entries, this chart is best answer to this question! When you see bearish engulfing at the resistance, it is huge bearish sign and price will most likely continue to decrease until it reaches area of potential support! We have resistance on weekly time frame so we need to find support on that time frame too! The support is around 5200. This week or next week we may easily see test of this area