The market has inched up to $339.85B. Dominance is at 65%. The price of Bitcoin is testing 12,500.
The price action from yesterday had enough momentum to drive us up to 12,800, but selling pressure was able to drive the price below resistance 12,500.
Currently, we can see that the price action is testing that resistance level.
The stochasticRSI has just slightly crossed into a confirmation zone at 21.4.
The TRIX is crossing over below a range of 100, which has historically led to price action movements between 40-70%.
However, the smaller time frames are overbought, and there are no divergences currently forming. Which could indicates short-term bearishness.
Lastly, we can see the past 3 days have had rising bullish volume and that support the momentum behind the move.
Bearish: Price is denied at the 12,500 resistance point and pulls back to 11,500 - 12,000.
Bullish: The daily candle closes above 12,500 and tests resistance between 13,000 - 13,200.
Bearish 60% / Bullish 40%
The price action from yesterday had enough momentum to drive us up to 12,800, but selling pressure was able to drive the price below resistance 12,500.
Currently, we can see that the price action is testing that resistance level.
The stochasticRSI has just slightly crossed into a confirmation zone at 21.4.
The TRIX is crossing over below a range of 100, which has historically led to price action movements between 40-70%.
However, the smaller time frames are overbought, and there are no divergences currently forming. Which could indicates short-term bearishness.
Lastly, we can see the past 3 days have had rising bullish volume and that support the momentum behind the move.
Bearish: Price is denied at the 12,500 resistance point and pulls back to 11,500 - 12,000.
Bullish: The daily candle closes above 12,500 and tests resistance between 13,000 - 13,200.
Bearish 60% / Bullish 40%
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