Daily Market Analysis - BTC
The market has pulled back down to 326.64B. Dominance is up to 65.84%. The price of Bitcoin is down to 12,000.
Yesterday, the price action was able to break through resistance at 12,500, and quickly raced up to 13,200 before the price was denied by resistance.
Since then, the price has pulled back to 12,000 - 12,200. Indicators still point to bullish price action over the next few days.
If the price is able to find support on the intra-day channel beginning to form, we could see the another run up to 13,000.
Bearish: The support breaks down at 12,000 and the price pulls back down to 11,300 - 11,700
Bullish: Short-term renewed buying pressure causes the price action to bounce off the channel and re-test resistance at 12,500 - 13,500
Bearish 55% / Bullish 45%
Yesterday, the price action was able to break through resistance at 12,500, and quickly raced up to 13,200 before the price was denied by resistance.
Since then, the price has pulled back to 12,000 - 12,200. Indicators still point to bullish price action over the next few days.
If the price is able to find support on the intra-day channel beginning to form, we could see the another run up to 13,000.
Bearish: The support breaks down at 12,000 and the price pulls back down to 11,300 - 11,700
Bullish: Short-term renewed buying pressure causes the price action to bounce off the channel and re-test resistance at 12,500 - 13,500
Bearish 55% / Bullish 45%
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