Daily Market Analysis - BTC
The market cap is up to $285. Dominance is roughly unchanged at 68.47%. The price of Bitcoin is at 10,200.
Price action continued to drop overnight, but was able to bounce off of support at 9,480.
Smaller timeframes are showing signs of bearish divergences between price action on volume
If this upward momentum is to continue, we will need to see the volume flow increase, and for the daily candle to close above 10,100.
Bearish: A break below 10,100 could lead us back to support at 9,500.
Bullish: If volume is able to stabilize, we could test 10,500 - 10,700 within the next 2 days
Bullish 55% / Bearish 45%
Price action continued to drop overnight, but was able to bounce off of support at 9,480.
Smaller timeframes are showing signs of bearish divergences between price action on volume
If this upward momentum is to continue, we will need to see the volume flow increase, and for the daily candle to close above 10,100.
Bearish: A break below 10,100 could lead us back to support at 9,500.
Bullish: If volume is able to stabilize, we could test 10,500 - 10,700 within the next 2 days
Bullish 55% / Bearish 45%
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