Daily Market Analysis - BTC
The market is up to 174.32B today, and dominance is down to 54.94%. The price of Bitcoin is up to 5250.
The price was able to break to the topside of the 0.618 fibonacci level, but met resistance at before 5300 and was not able to break through the Tenkan san. The Stochastic RSI is beginning to rise, and a break of the 20 line could signal upward price action to the next level of resistance at 5400.
The MACD is oversold, but still indicates an overall uptrend. Ideally, we should break 5400 in the next two days while holding above the 5100 price point of support.
The price was able to break to the topside of the 0.618 fibonacci level, but met resistance at before 5300 and was not able to break through the Tenkan san. The Stochastic RSI is beginning to rise, and a break of the 20 line could signal upward price action to the next level of resistance at 5400.
The MACD is oversold, but still indicates an overall uptrend. Ideally, we should break 5400 in the next two days while holding above the 5100 price point of support.
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