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Relative Volatility Index (RVI)

Market Analysis - BTCThe global market cap is down to $254B. Dominance 68.36%. The price of Bitcoin is at 9,600. Price action finally made a decision and broke to the downside of short-term support without re-testing resistance at 11,000. The stochastic RSI is oversold and has fallen below 20. There is a slight curl on the stochastic RSIs signal line, which could turn into a bullish crossover if enough volume flows into the market. The RVI shows us that momentum and volatility has fallen to a historically low level that has not happened since November 2018. If the daily candle is unable to close with a bullish candle, there is a high probability that we could experience more downside. If that happens, I would watch for a reversal to happen within support zone 1. Bearish 60% / Bullish 40%
COINBASE:BTCUSD
by SpektreSignal
Market Analysis - BTCThe market cap is down to $269B. Dominance has risen up to 67.75%. The price of Bitcoin is at 10,100. Price action failed to break above the resistance trendline and will be re-testing the short-term support zone. Smaller timeframes are overbought, which points to some more potential downside over the weekend. During that time, we should watch for support to form above 9,800. If support is unable to provide enough buying pressure, we could see swing lows between 9,200 and 9,500 re-tested above the first support zone. Bearish 60% / Bullish 40%
COINBASE:BTCUSD
by SpektreSignal
Market Analysis - BTCThe market cap is up to $272B. Dominance has continued to drop and is down to 67.54%. The price of Bitcoin is at 10,200. Price action finally had a break in price action and broke below short-term support before buying pressure quickly stepped in. The dip in price action which caused the price to drop from 10,100 down to 9,500, took place in less than 5 minutes. Such a small time window points to either a single seller or a large account controlled by bots/algos. The dip in price created an opportunistic technical landscape, which allowed bots to quickly buy the price back up to 10,000 in under 2 hours. If the buying pressure continues, we should see the price action break through the resistance trendline before re-testing the resistance zone. Bearish: If the price fails to break through the resistance trendline, price action could pull back and continue to range between 9,500 - 10,500. Bullish: If there is enough volume over the next 24-48 hours, we could break above 10,500 to test 11,000. Bearish 60% / Bullish 40%
COINBASE:BTCUSD
by SpektreSignal
1
Market Analysis - BTCThe global market cap is up to $270B. Dominance has dropped down to 68.11%. The price of Bitcoin is struggling at 10,200. Bitcoin has undergone continuous selling pressure over the last 5 days, but the price has managed to stay above the short-term support zone. The selling pressure has kept Bitcoin from participating in the small rally that other top coins have been experiencing. Volatility has reached a low point indicated by the RVI. That in combination with the daily closes above the support should, we should see the price re-test 11,000 resistance in the next week or so. However, the Stochastic RSI has not yet reached it's bottom, which indicates there could be further short-term downside. Bearish: If price action breaches and closes below short-term support at 10,000, there is a lack of support until the price reaches ~9,600. Bullish: If the volume is able to pick up in the short-term, the price action could re-test the 10,500 resistance. Bearish 55% / Bullish 45%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe market cap is up to $265B. Dominance is up to 70.29%. The price of Bitcoin is at 10,400. Price action was able to find support and bounce off the short-term zone. The next point of resistance price action needs to break through is 10,500. Smaller timeframes are overbought, but continued bullish volume flow would create a divergence causing continued bullish price action. If we can break above 10,500 and hold support, we should be moving up to 11,000 next. However, if the price action is denied at 10,500, we can expect the price to pull back to the 10,000 - 10,300 area. Bearish: Failure to break above 10,500 should cause more short-term price consolidation at the ~10,000 price level. Bullish: A break above 10,500 could lead us back into 11,000+ Bullish 60% / Bearish 40%
COINBASE:BTCUSD
by SpektreSignal
Market Analysis - BTCThe market cap is down to $259B. Dominance is up to 69.96%. The price of Bitcoin is 10,100. So far, there has been continual buying pressure in the short-term support zone. However, the daily candles tell us that there is indecision in the market and participants continued to sell above 10,300. Technical indicators are in conflict, the Stochastic RSI indicates contracting momentum, but the RVI indicates a point of low volatility meaning there is the chance of renewed buying pressure in the near-term. Bearish: A break below the short-term support zone will most likely cause the price action to re-test support zone 1. Bullish: If the lowered volatility indicates an increase in volume and the short-term support holds, the price action will need to re-test resistance near 11,000. Bullish 55% / Bearish 45%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe market cap is up to $248B. Dominance is up to 69.12%. The price of Bitcoin is at 9,500. Price action has closed above support zone 1 for the past 2 days, which tells us there is buying pressure here. Technical indicators are oversold the stochastic RSI could crossover during the weekend. Bearish: If price actions falls below support at 9,300, we could pull back to 9,000. Bullish: If the price action is able to close above resistance at 9,700, the price action could re-test resistance at 10,100. Bullish 55% / Bearish 45%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe global market cap has continued to drop and is down to $246B. Dominance is down to 68.96%. The price of Bitcoin is at 9,450. Price action is headed towards it's first zone of support ranging between 8,800 - 9,300. Ideally, we will see the price bounce from this support zone to it's resistance. The stochastic RSI has hit bottom, and a large bounce would coincide with a double bottom. Volatility is reaching a strong area of support as well. Once the fear in the markets subsides, a bottom should form in the price action before we see a bullish re-test of resistance. Bearish: If the price is unable to find support at 9,300, we could fall to support at 9,000. Bullish: If moderate buying pressure steps in and forms support at 9,300, we could see the price move up to 9,600. Bearish 60% / Bullish 40%
COINBASE:BTCUSD
by SpektreSignal
2
Daily Market Analysis - BTCThe market cap is down to $264B. Dominance is down to 69%. The price of Bitcoin is at 10,100. Yesterday, the price was unable to hold support at 10,700 and pulled back to 9,850 and has since moved back above 10,000. Smaller timeframes show low levels of volume, if the price cannot close above 10,500, we could have another leg down to 9,700. Bearish: If volume is unable to pick up, we are likely to see a re-test of support 9,700. Bullish: If volume increases over the next few hours, and the resistance at 10,300 is breached, we could move up to 10,500. Bearish 60% / Bullish 40%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe global market cap is down to $269B. Dominance is up to 69.14%. The price of Bitcoin is at 10,400. Despite the decline in market volume, we can see the daily candle is making a higher high and higher low (bullish) The StochasticRSI is curling up, but has not passed any confirmation level, and both daily wicks tell us there is strong buying pressure below the 10,000 price level. Over the weekend, the ideal bullish case would be to to see the price break above 10,700 - 11,000 resistance supported by strong volume. If there is a lack of volume over the weekend, we could range between 10,000 - 10,700 Bearish: If the price action closes below 9,700, we could dip back to the 9,000 - 9,400 range. Bullish: If volume picks up over the weekend and price action breaks through resistance, there is potential to reach 11,000 - 11,500 Bullish 60% / Bearish 40%
COINBASE:BTCUSD
by SpektreSignal
1
Daily Market Analysis - BTCThe 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%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe market have continued to bleed and the global cap is down to $264B. Dominance is up to 68.48%. The price of Bitcoin is at 10,100. Price action broke to the downside under selling pressure, but has so far bounced off of the long-term support trendline at 9,855. A clear inverse head & shoulders pattern has formed based on the qualifying criteria: - Right shoulder does not exceed height of head - Right shoulder will have a higher low than the left shoulder However, the trajectory of the right shoulder may need to be adjusted to account for consolidation time In addition, the price action has, in the past, positively responded with each re-test of support coming from the long-term support trendline, which indicates another bullish signal. A break below the support at ~9850 would invalidate the current pattern. While an IH&S pattern is bullish, please keep in mind, the price could fall to 9,400 forming new trendlines, but the overall pattern would still be valid based on qualifying criteria. In other words, there could still be short-term downside and caution should be exercised Bearish: A break below 9850 could cause a pull back to 9,000 - 9,400. Bullish: If volume stops exiting the market, and the price is able to form a support bottom, we could see the price inch up to 10,400. Bearish 55% / Bullish 45%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe 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%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe 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%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe global market cap is slightly up at $303B. Dominance has inched up to 69.87%. The price of Bitcoin is just under 11,900. Over the past 4 days, we can see a clear range forming within the price action. 11,300 has held up as strong support, and daily candles are making higher lows. There are bullish Stochastic RSI divergences the 4-hour time frame (white trendlines for those in discord) The TRIX still has room for upward momentum. As long as the support at 11,300 is able to hold throughout the weekend, the case for price is action is more bullish. Bearish: If the price breaks support below 11,300, the next point of support is 11,000 Bullish: If buying pressure continues to increase and we see volume pick up, the price action could break to the upside and test resistance near 12,500. Bullish 65% / Bearish 35%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTC The global market is down to $300B. Dominance is mostly unchanged at 68.72%. The price of Bitcoin is at 11,500. Price action rose from 11,300 to 12,100 before pulling back to 11,500 forming a range of price action between the two. Technical indicators on the smaller time frames suggest the price is oversold, the conflict between timeframes suggest short-term bullish price action, but an overall range until on of the two critical support and resistance points are broken. Bearish: Volume continues to decline at 11,300 support is unable to hold causing a re-test of 10,700 - 11,000 support. Bullish: Short-term buying pressure moves the price back up to 12,000, with enough volume, we could test 12,300. Bullish 55% / Bearish 45%
COINBASE:BTCUSD
by SpektreSignal
1
Global Market Analysis - BTCThe market cap is up to $306B. Dominance is also up to 68.76%. The price of Bitcoin is at 11,800. Over an 8 hour period, the price action rose to 12,100 before quickly pulling back to 11,400, indicating strong support near 11,000. There are 3 strong bullish indicators currently on the daily charts. 1. The TRIX is oversold and there is a bullish crossover 2. The conversion line is crossing over the base line 3. The Chikou span is crossing upwards through the price If the support above 11,300 is able to hold and volume continues increasing, we could see another leg up to 12,000 - 12,500 Bearish: If support is unable to hold above 11,300, the price action could re-test 11,000. Bullish: If a breakout occurs, the price could break through resistance at 12,300 - 12,700 Bullish 60% / Bearish 40%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe market cap is down to $304B. Dominance continues to rise and is up to 68.36%. The price of Bitcoin is at 11,600. Yesterday, the price action rose up and re-tested resistance at 12,300, which correlates to $14 billion in volume. However, that volume came and went in under 4 hours time. Because the price action was unable to breach above resistance and form support, and technical indicators have moved into overbought territory, there is a likely chance that price action re-tests the support between 11,000 - 11,300. Bearish: Volume continues to decline and the price pulls back to support levels near 11,000. Bullish: A divergence forms on smaller timeframes, or an unusually high amount of volume enters the market in a small period of time and the price tests 12,300 resistance again. Bearish 60% / Bullish 40%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCOver the weekend, the market continued its upward trend. Today, the global market cap is up to $310B. Dominance has risen and is up to 67.70%. The price of Bitcoin is at 11,700. The price action rose up from 10,500 to 11,950, stopping just short of resistance at 12,000. The stochastic RSI has moved into overbought territory and the RVI is indicating high levels of volatility, which means the probability of a pullback or sideways price action is likely to begin. However, the volume has been bullish and increasing for the past few days, there are bullish divergences forming on the 1-hour timeframe, and the Chikou span is upcrossing the price. All of the above variables point to a possible breakout higher in which the price action could leg up to resistance at 12,300. Bearish: Price momentum slows as profit taking begins pushing the price back down to support at 11,300. Bullish: Volume continues its rate of change moving the price up to 12,300 - 12,500 Bullish 55% / Bearish 45%
COINBASE:BTCUSD
by SpektreSignal
1
Daily Market Analysis - BTCThe global market cap has risen up to $275B. Dominance is up to 65%. The price of Bitcoin is at 10,000. Price action was able to break above the short-term resistance, moving up from 9500 - 10,000. The Stochastic RSI is above 30 and the RVI shows us that momentum is picking up while the volatility is lower than the prior crossover rejections that took place on the stochastic RSI (red arrows). Rising volume and a bullish divergence on the 1-hour time frame suggest that the upwards momentum could continue. Bearish: The price is unable to break above resistance at 10,100 and pulls back to 9,500. Bullish: Price action breaks above resistance at 10,100 which would cause the stochastic RSI to rise above resistance(yellow) and confirming bullish momentum with a possible move up to 10,700. Bullish 65% / Bearish 35%
COINBASE:BTCUSD
by SpektreSignal
1
Daily Market Analysis - BTCThe market has it's slow and choppy price action. The global cap is up to $265. Dominance has not moved at all and is at 64.47%. The price of Bitcoin is at 9,550. Price action has continued to stay confined within a tight range conveying both indecision / lacking interest in the market currently. Lowering volatility and heavily oversold indicators point to a more bullish overall market structure on the daily time frame. The weekly timeframe was in overbought territory, but has transitioned into a better technical landscape during the sideways price action over the past week. The most critical points of support and resistance to watch remain at 9,000 support and 10,100 for resistance. Bearish: If the price breaks below 9,000, we could see a re-test of support at 8,700. Bullish: If the price can break short-term resistance and break above 10,100, we could see another run to 11,000. Bullish 55% / Bearish 45%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe global market cap has moved up to $273B and dominance is down to 64.25%. The price of Bitcoin is at 9,800. The squeeze on price has continued another day without a break for confirmation. The price range over the past 3 days is making higher lows and tightening into a sharper range conveying the amount of indecision in the market regarding current price action. In addition, the indicators have become heavily oversold, which tells us that a breakout should be nearing. Lowered volatility levels, a strong bullish kumo on the ichimoku, and increasingly positive fundamentals should bolster the price action once the indecision and fear among market participants begins to diminish. Bearish: Lacking interest over the weekend could lead to declining volume causing the price to either range or re-test lows at local support near 9,000. Bullish: Positive technicals and lowering volume on the way down could cause a bottom to support acting a springboard for volume which could push the price back up to 10,500 - 11,500 Bullish 60% / Bearish 40%
COINBASE:BTCUSD
by SpektreSignal
Daily Market Analysis - BTCThe market is down to $267B. Dominance has fallen further and is down to 64.38%. The price of Bitcoin is at 9,600. Price action has fallen slightly below trendline support and is re-testing the 9,400-9,600 price range. The stochastic RSI tells us that the price momentum is lowering. However, the RVI is dropping in proportion and has dropped to as low as 30. This tells us the price range is tightening as the volatility drops, which is generally a bullish sign because as we lose volatility on the way down, we have room to build momentum on the way back up. Bearish: If the price is unable to hold support at 9,500, the price could re-test prior lows at 9,000. Bullish: Lowering volatility, oversold indicators, and strong support projected from the kumo could lead to a quick price reversal up to 10,000 Bearish 55% / Bullish 45%
COINBASE:BTCUSD
by SpektreSignal