BITCOIN ANALYSIS TODAY (1/11)-Accumulation Waiting for Breakout
In terms of macro, the market is showing many positive signals. BTC.Dom plummeted. The Fed has shown signs of slowing interest rate hikes. Along with that, the capitalization of USDT has increased by more than 1 billion USD in the last week, signaling that the market is highly liquid.
Bitcoin price today recorded at 7:30 am at 20,462.32 USD, down 0.79% compared to 24 hours ago.
In the market, 67 of the top 100 coins by market value are down from 24 hours ago.
In which, the strongest decrease of 7.66% belongs to Toncoin.
The biggest gainer in the market is Chain with a price increase of 30.13% in the last 24 hours.
In the top 10, there are 6/10 coins that are down compared to 24 hours ago.
The total cryptocurrency market value recorded at 7:30 am at $1.014.19 billion, $0.28 billion higher than 24 hours ago.
The market's 24-hour trading volume currently stands at $88.09 billion, 25.09% higher than on October 31.
Technically
BTC price continues to show a compaction zone behavior just above the breakout of a set of resistances including a diagonal trendline and horizontal resistance. If the price can further break above the $21,000 round number area resistance, the uptrend will resume.
If you want to Long/Buy, wait for the price to accumulate enough momentum and break above the $21,000 resistance to enter.
Bitcoin price today recorded at 7:30 am at 20,462.32 USD, down 0.79% compared to 24 hours ago.
In the market, 67 of the top 100 coins by market value are down from 24 hours ago.
In which, the strongest decrease of 7.66% belongs to Toncoin.
The biggest gainer in the market is Chain with a price increase of 30.13% in the last 24 hours.
In the top 10, there are 6/10 coins that are down compared to 24 hours ago.
The total cryptocurrency market value recorded at 7:30 am at $1.014.19 billion, $0.28 billion higher than 24 hours ago.
The market's 24-hour trading volume currently stands at $88.09 billion, 25.09% higher than on October 31.
Technically
BTC price continues to show a compaction zone behavior just above the breakout of a set of resistances including a diagonal trendline and horizontal resistance. If the price can further break above the $21,000 round number area resistance, the uptrend will resume.
If you want to Long/Buy, wait for the price to accumulate enough momentum and break above the $21,000 resistance to enter.