Bitcoin [BTC] vs US Dollar [USD] Friday 18th May 2018 - Daily Techical Anaylsis [BTFD]

BTC vs USD Friday 18th May 2018:

📉 A now quiet predictable Friday sell-off during early Asian trading as traders liquidated before the weekend, saw price action test support at $7900, as prices quicky recovered to the $8k handle.

🔔 Stochastics remains oversold ahead of the weekend. Consensus NY summit has finished and despite many very bullish announcements, markets are yet to consume new inflows.

🤔 Market cap remains at $366b, alongside a stronger Dollar due to rising US Treasury Yields, that is pulling precious metal prices down also.

In other news:

WSJ finds 'Red Flags' in 19% of all ICOs https://cointelegraph.com/news/wall-street-journal-research-finds-red-flags-in-19-of-icos

BitFinex FUD kicks up again, amid asking large portfolio holders to report their revenue - https://cointelegraph.com/news/bitfinex-requires-customer-tax-info-which-it-may-exchange-with-govt-tax-authorities

China downgrades Bitcoin to no 13 in crypto index, Ethereum takes first place - https://reut.rs/2L9io6s

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Disclaimer:
Please note that the above information is for educational purpose only and is not to be taken as investment advice. Other Cryptocurrencies are available.