Daily Market Analysis - BTC
The market sold off yesterday. It is down to 265.07B. Dominance has lowered to 56.45%. The price of Bitcoin is at ~8400.
The price is testing the side of the channel, and the candlesticks are forming tweezer bottoms, which suggests the price could reverse, keeping the channel valid as we move forward.
The candles with the lightning bolts indicate large moves ranging ranging between 11-18%.
Each maribozu candles surpasses the swing high of the previous one, for this pattern to continue, the current candle would need to move 11 - 19%.
That would place the price at 9400 - 10,100.
A downside break of the current support would lead us to re-test at 7700-8000.
The price is testing the side of the channel, and the candlesticks are forming tweezer bottoms, which suggests the price could reverse, keeping the channel valid as we move forward.
The candles with the lightning bolts indicate large moves ranging ranging between 11-18%.
Each maribozu candles surpasses the swing high of the previous one, for this pattern to continue, the current candle would need to move 11 - 19%.
That would place the price at 9400 - 10,100.
A downside break of the current support would lead us to re-test at 7700-8000.
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