Global Market Analysis - BTC

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
The market cap is up to $306B. Dominance is also up to 68.76%. The price of Bitcoin is at 11,800.

Over an 8 hour period, the price action rose to 12,100 before quickly pulling back to 11,400, indicating strong support near 11,000.

There are 3 strong bullish indicators currently on the daily charts .

1. The TRIX is oversold and there is a bullish crossover

2. The conversion line is crossing over the base line

3. The Chikou span is crossing upwards through the price

If the support above 11,300 is able to hold and volume continues increasing, we could see another leg up to 12,000 - 12,500

Bearish: If support is unable to hold above 11,300, the price action could re-test 11,000.

Bullish: If a breakout occurs, the price could break through resistance at 12,300 - 12,700

Bullish 60% / Bearish 40%
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