Daily Market Analysis - BTC
The market is up to 258.73B. Dominance is down to 55.88%. The price of Bitcoin is re-testing 8200.
The current bottom trendline has held up well against the price, indicating a newly confirmed trendline.
Stochastic RSI has crossed above 20, which suggest bullish momentum is increasing.
Whereas, the MACD is still oversold.
Because the stochastic RSI is a leading indicator, the crossover is bullish, but not a full confirmation of upcoming potential bullish price action.
The MACD is a lagging indicator and will take more time to trigger a buy signal.
Volume is lightly ascending and the chikou span is nearly about to upcross the price.
All of these conditions point to a much more bullish market structure with a good probability of bullish price action over the next few days.
Bearish: Price is denied at 8200 and continues to range sideways between 8200 and 7400.
Bullish: Price breaks to the topside of 8200 backed by bullish volume leading to an upside breakout. Target would be 8500 and then 8800.
Bullish 70% / Bearish 40%
The current bottom trendline has held up well against the price, indicating a newly confirmed trendline.
Stochastic RSI has crossed above 20, which suggest bullish momentum is increasing.
Whereas, the MACD is still oversold.
Because the stochastic RSI is a leading indicator, the crossover is bullish, but not a full confirmation of upcoming potential bullish price action.
The MACD is a lagging indicator and will take more time to trigger a buy signal.
Volume is lightly ascending and the chikou span is nearly about to upcross the price.
All of these conditions point to a much more bullish market structure with a good probability of bullish price action over the next few days.
Bearish: Price is denied at 8200 and continues to range sideways between 8200 and 7400.
Bullish: Price breaks to the topside of 8200 backed by bullish volume leading to an upside breakout. Target would be 8500 and then 8800.
Bullish 70% / Bearish 40%
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Join The Spekre ACS Creator Pool and gain access to exclusive trading indicators, copy trading, exclusive content, and more tools in the future! Link: hub.accessprotocol.co/creators/J8TpW6cypxheFUYjWn4mxS6ExvBEMxyMiRvrf43Nhnvy
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.