The market has it's slow and choppy price action. The global cap is up to $265. Dominance has not moved at all and is at 64.47%. The price of Bitcoin is at 9,550.
Price action has continued to stay confined within a tight range conveying both indecision / lacking interest in the market currently.
Lowering volatility and heavily oversold indicators point to a more bullish overall market structure on the daily time frame.
The weekly timeframe was in overbought territory, but has transitioned into a better technical landscape during the sideways price action over the past week.
The most critical points of support and resistance to watch remain at 9,000 support and 10,100 for resistance.
Bearish: If the price breaks below 9,000, we could see a re-test of support at 8,700.
Bullish: If the price can break short-term resistance and break above 10,100, we could see another run to 11,000.
Bullish 55% / Bearish 45%
Price action has continued to stay confined within a tight range conveying both indecision / lacking interest in the market currently.
Lowering volatility and heavily oversold indicators point to a more bullish overall market structure on the daily time frame.
The weekly timeframe was in overbought territory, but has transitioned into a better technical landscape during the sideways price action over the past week.
The most critical points of support and resistance to watch remain at 9,000 support and 10,100 for resistance.
Bearish: If the price breaks below 9,000, we could see a re-test of support at 8,700.
Bullish: If the price can break short-term resistance and break above 10,100, we could see another run to 11,000.
Bullish 55% / Bearish 45%
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