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BTC/USD Daily: August 3, 2018

· 03 Aug 2018 in Bitcoin

The BTC/USD Daily report for August 3rd, 2018.

The 1 day range for BTC is $7,282-$7,533. It is currently down 2.30% in the last 24 hours.

Today’s BTC/USD Headlines

Published by UBS strategists, the report concludes that bitcoin “falls short of criteria that need to be satisfied to be considered money.”

“I think that bitcoin’s at a very critical stage because if that uptrend’s going to continue, it needs to dig in right here,”

Published in a quarterly report to the U.S. Securities and Exchange Commission (SEC), Square revealed generating over $70 million in revenue via Bitcoin alone through the first half of 2018. In addition, despite the falling price of cryptocurrency throughout 2018, the company reported a growth in revenue between the first and second quarter of the year, posting $34 million and $37 million, respectively.

 

BTC/USD Trading Technicals

Technicals from Tradingview.com

As we can see, the majority of signals have BTC/USD daily at a sell; with all most averages signaling a short strategy for trading. BTC is already down today; as well as many altcoins which have fallen with the market leader. BTC/USD is only down 2% of so, with many altcoins (including ICX and others) down as much as 15-20%. It’s been a down day for the market as the total market cap has slipped to just over $261,000,000. Of course, the BTC/USD trading pair sets the way for most of the market.

BTC/USD Trading Charts

T.A. from user Cheesetoast with a BTC short outlook

T.A. from user YoungShkreli with a BTC short outlook

Daily Altcoin Events

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