Daily Market Analysis - BTC
The market has pulled back and is down to 173.91B. Dominance has risen further to 55.31%. The price of Bitcoin is testing it's 5300 support level.
This type of movement is healthy after the quick run up. If todays candle is able to hold support above 5300, we could begin moving sideways and see the price range for a period of time.
In which case, we could begin another phase of altcoins before the next up or downside break. If the support is not able to hold, the price will test the support at the 0.618 fib level.
This type of movement is healthy after the quick run up. If todays candle is able to hold support above 5300, we could begin moving sideways and see the price range for a period of time.
In which case, we could begin another phase of altcoins before the next up or downside break. If the support is not able to hold, the price will test the support at the 0.618 fib level.
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