Daily Market Analysis - BTC
More cash creeped into the market overnight and it is up to 178.64B. Dominance has followed suit and is up to 55.24%. The price of Bitcoin is at 5350.
The Tenkan San (blue line) has cemented itself as further support. Price began testing resistance again at 5400. Although the price did not break topside resistance, the current candle pattern is forming a three white soldiers continuation pattern, which indicates the momentum should carry the price above 5400 to eventually re-test the 0.786 fibonacci level.
The chart pattern suggest an ascending channel or bullish megaphone pattern, which further indicates the price should continue to rise. However, if support is unable to hold, the price could break down to 5100-5200, which is less likely considering the overall market conditions.
The Tenkan San (blue line) has cemented itself as further support. Price began testing resistance again at 5400. Although the price did not break topside resistance, the current candle pattern is forming a three white soldiers continuation pattern, which indicates the momentum should carry the price above 5400 to eventually re-test the 0.786 fibonacci level.
The chart pattern suggest an ascending channel or bullish megaphone pattern, which further indicates the price should continue to rise. However, if support is unable to hold, the price could break down to 5100-5200, which is less likely considering the overall market conditions.
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
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.