Im having a look at the hourly chart this morning and I see that the bulls dont want to allow us to sink into that hourly cloud.. Everytime we get close we bounce right back out. The candles are determined to stay above 10k. I love using the cloud. Its clear as day that it works very well on a chart. That 50 MA (orange line) is crossing back above the 200 MA (blue line) which is bullish
. But its also only on the hourly time frame so I dont expect too much from the golden cross. There is some potential resistance above us at the .382 fib (10440) that is worth watching. It provided resistance recently and that should be taken into consideration. One good thing is we have a lot of support under the candles on the hourly. The 50 MA and the 200 MA are below us along with the cloud. RSI
is currently at 58.62 which is on the higher side but there is still plenty of room for the candles to grow. Lets just say its not overbought as of right now. Daily volume
is sitting at $12,694,249,659 (which means its dropping) and Bitcoin
dominance is currently at 72.08%. With volume
dropping I wouldnt be surprised to see a drop
. But WTFDIK right?