The market pulled back over the weekend and the global cap is down to $296B. Dominance has dropped and is down to 68.68%. The price of Bitcoin is at 11,400.
Price action was unable to break to the topside and pulled back under the selling pressure. In 1 hour, the price fell ~700 or 6%.
Overall, the price action is forming a bullflag, but the overbought indicators tell us that there could be more consolidation before the pattern resolves.
Bearish: Bull flag support breaks down and the price falls under 11,000
Bullish: If price action were to break above 11,500, the next point of resistance to watch would be 11,700.
Bearish 55% / Bullish 45%
Price action was unable to break to the topside and pulled back under the selling pressure. In 1 hour, the price fell ~700 or 6%.
Overall, the price action is forming a bullflag, but the overbought indicators tell us that there could be more consolidation before the pattern resolves.
Bearish: Bull flag support breaks down and the price falls under 11,000
Bullish: If price action were to break above 11,500, the next point of resistance to watch would be 11,700.
Bearish 55% / Bullish 45%
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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.