BTC/USD Update 13/08/2018

​​📈 # BTC

The postponement of the decision of the SEC on ETF-applications CBOE strengthened the negative sentiment in the market. This week the market fell further, but in terms of the decline, it was slightly inferior to the "losses" suffered by the capitalization last week ($ 52 billion). Over the current week, the crypto-market "lost weight" by about 48 billion US dollars.

This week Bitcoin's share in the total market capitalization for the first time since the beginning of the year exceeded 50%. The drop in the price of BTC this week lowered Bitcoin's capitalization by $ 15 billion. After a little yesterday's recovery, its capitalization is about $ 108 billion.

Yesterday, after a minimum of 6000.00 USD, the bulls managed to raise the price by almost 500.00 USD short-term. However, yesterday's high at 6494.13 USD is the continuation of the sequence of declining highs of the falling channel, which began to form at the end of July. Movement within this channel will lead the Bitcoin price to the first target level, which we determined yesterday in the area of ​​5500.00 USD.

Today the pair will decline to support 6090.00 USD and after its breakout, the price will continue to move sideways, in the range of $ 6090.00 - $ 5920.00.

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