Daily Market Analysis - BTC
The global market has remained mostly unchanged and is at 277B. Dominance has has risen up to 69.30%. The price of Bitcoin is at 10,700.
Price action has pulled back from 10,900 and has been able to find support at 10,700.
If the IH&S pattern plays out, we should see the price action reach it's next resistance point at 11,300 by the 24th.
Over the next 2 days, we would ideally see the MACD histogram crossover preceding a bullish crossover of the signal line, which would further support the validity of this move upward.
Bearish: If the price closes below the current support at 10,700, we could pull back to 10,500.
Bullish: If price action continues, we need to clear the resistance zone at 11,000 -11,100.
Bullish 60% / Bearish 40%
Price action has pulled back from 10,900 and has been able to find support at 10,700.
If the IH&S pattern plays out, we should see the price action reach it's next resistance point at 11,300 by the 24th.
Over the next 2 days, we would ideally see the MACD histogram crossover preceding a bullish crossover of the signal line, which would further support the validity of this move upward.
Bearish: If the price closes below the current support at 10,700, we could pull back to 10,500.
Bullish: If price action continues, we need to clear the resistance zone at 11,000 -11,100.
Bullish 60% / Bearish 40%
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