Industry news:

"We're seeing now a real institutionalization of the digital currency asset class, as well as a lot of infrastructure being built around digital assets like bitcoin," said Michael Sonnenshein, managing director at Grayscale Investments. "We're seeing regulators weigh in on digital currencies and ensuring that the right investor protections are in place...we're seeing legacy financial institutions like Fidelity launching digital currency custodial businesses...these are some of the signals that are super exciting for the investment community."

Bitcoin reached our second downward target at the price of $6.539. There are no signs of any reversal yet. Watch for selling opportunities on the rallies. Next major downward target is set at $5.710.

MACD oscillator is showing new momentum down and slow line is on the new ground down.

Stochastic is looking oversold but no signs of reversal.