Daily Market Analysis - BTC
The market is down to 186.5B today. Dominance has continued to rise and is up to 57.10%. The price of Bitcoin is up to ~5900.
Yesterday, there was news of Binance being hacked which caused a quick sell off that was rapidly bought back up showing there is confidence in the market.
Selling pressure brought the price down to 5600 to re-test the 0.786 Fibonacci level which was confirmed as support for now.
If the price is able to break to the topside of the channel, we will most likely be testing the next resistance point at 6107.
Yesterday, there was news of Binance being hacked which caused a quick sell off that was rapidly bought back up showing there is confidence in the market.
Selling pressure brought the price down to 5600 to re-test the 0.786 Fibonacci level which was confirmed as support for now.
If the price is able to break to the topside of the channel, we will most likely be testing the next resistance point at 6107.
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
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.