The market cap has continued it's pullback and is down to $287B. Dominance has also dropped further and is down to 68.16%. The price of Bitcoin is at 10,900.
Price action broke to the downside of the bullflag forming new trendlines and bouncing from a re-test of support at 10.700.
Lower timeframes between the 1 and 4 hour have oversold indicators, but there is a bearish divergence between price action and volume (orange lines for those in discord)
Our daily timeframe is still overbought according to the Stochastic RSI. Whereas, the RVI is telling us the volatility and momentum are lowering on the way down.
Overall, the trend is still bullish, but the short-term price action could be bullish unless the volume begins to pick up.
Bearish: Price action falls below 10,700 and re-tests the next level of support at 10,500~
Bullish: The sub 11,000 entry could entice buying pressure at these level to rebound and test topside resistance at 11,000 - 11,300
Bullish 60% / Bearish 40%
Price action broke to the downside of the bullflag forming new trendlines and bouncing from a re-test of support at 10.700.
Lower timeframes between the 1 and 4 hour have oversold indicators, but there is a bearish divergence between price action and volume (orange lines for those in discord)
Our daily timeframe is still overbought according to the Stochastic RSI. Whereas, the RVI is telling us the volatility and momentum are lowering on the way down.
Overall, the trend is still bullish, but the short-term price action could be bullish unless the volume begins to pick up.
Bearish: Price action falls below 10,700 and re-tests the next level of support at 10,500~
Bullish: The sub 11,000 entry could entice buying pressure at these level to rebound and test topside resistance at 11,000 - 11,300
Bullish 60% / Bearish 40%
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Disclaimer
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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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.