Daily Market Analysis - BTC
The market has continued to increase in volume over the weekend and is up to 268.60B. Dominance is up to 57.59%. The price of Bitcoin broke resistance at 8500 and 8800. The price is currently at 8750.
The price has continued to confirm the ascending channel, and broke to the upside after testing the bottom trendline.
The stochastic RSI and RVI both indicate increasing upwards momentum. If this move continues to follow it's price path, we should see resistance tested at 9600 sometime this week. However, we will need to see the daily candle close above 8800 and increasing volume on the next move up.
The price has continued to confirm the ascending channel, and broke to the upside after testing the bottom trendline.
The stochastic RSI and RVI both indicate increasing upwards momentum. If this move continues to follow it's price path, we should see resistance tested at 9600 sometime this week. However, we will need to see the daily candle close above 8800 and increasing volume on the next move up.
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