Daily Market Analysis - BTC
The market is testing a bottom and is up to 308.46B. Dominance has is up to 62.57%. The price of Bitcoin is at 10,800.
Today, we will be using the 1 hour and 1-day charts.
On the hourly chart, 7 hours ago, the price jumped up from 9,900 - 10,500. Over the following 6 hours, the price has continued to rise.
Although the Kumo has not yet reacted on smaller timeframes, the 1 hour shows the chikou span up crossing the price action (in yellow)
If the price is able to break above the short-term resistance of the kumo, the price could continue it's short-term uptrend and test resistance at 11,000.
On the daily charts, we can see that there is heavy buying pressure waiting between 9,600 - 9,900 illustrated by the two long wicks on the past daily candles.
In addition, the stochastic RSI has begun to form a bottom, but because it is a lagging indicator, there is no confirmation.
Furthermore, the RVI has started to curl up indicating short-term upwards momentum.
Bearish: Price fails to break resistance at 11,000, and falls back to 9,800.
Bullish: The price breaks out from resistance at 11,000 and re-tests 11,300.
Bearish 40% / Bullish 60%.
Today, we will be using the 1 hour and 1-day charts.
On the hourly chart, 7 hours ago, the price jumped up from 9,900 - 10,500. Over the following 6 hours, the price has continued to rise.
Although the Kumo has not yet reacted on smaller timeframes, the 1 hour shows the chikou span up crossing the price action (in yellow)
If the price is able to break above the short-term resistance of the kumo, the price could continue it's short-term uptrend and test resistance at 11,000.
On the daily charts, we can see that there is heavy buying pressure waiting between 9,600 - 9,900 illustrated by the two long wicks on the past daily candles.
In addition, the stochastic RSI has begun to form a bottom, but because it is a lagging indicator, there is no confirmation.
Furthermore, the RVI has started to curl up indicating short-term upwards momentum.
Bearish: Price fails to break resistance at 11,000, and falls back to 9,800.
Bullish: The price breaks out from resistance at 11,000 and re-tests 11,300.
Bearish 40% / Bullish 60%.
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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
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
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.