Daily Market Analysis - BTC
The market is up to 281.79B. Dominance is down to 57.57%. The price of Bitcoin is above 9100.
Today, we are zooming in and looking at the 4-hour chart.
So far, the support at 9000 has held sturdy.
There is a large bullish divergence happening which is illustrated by the yellow lines conveying price action and the Stochastic as well as, the MACD indicator diverging.
In addition, the StochasticRSI forming a triple bottom and the chart pattern is forming a bull flag.
These conditions represent a highly bullish outlook.
Bearish: An unexpected large drop in price caused by a market dump could cause the price to quickly re-test lower support levels.
Bullish: Price breaks to the topside of the bullflag and smashes through the larger trendline of topside resistance at 9500-9600.
Bearish 70% / Bullish 30%
Today, we are zooming in and looking at the 4-hour chart.
So far, the support at 9000 has held sturdy.
There is a large bullish divergence happening which is illustrated by the yellow lines conveying price action and the Stochastic as well as, the MACD indicator diverging.
In addition, the StochasticRSI forming a triple bottom and the chart pattern is forming a bull flag.
These conditions represent a highly bullish outlook.
Bearish: An unexpected large drop in price caused by a market dump could cause the price to quickly re-test lower support levels.
Bullish: Price breaks to the topside of the bullflag and smashes through the larger trendline of topside resistance at 9500-9600.
Bearish 70% / Bullish 30%
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