Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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✴️ BTC Update
Bitcoin closed the previous session in the form of a doji, once again materializing the uncertainty shown by market participants in the vicinity of the 7700's. The BTC is currently trading around the 7800's.
The daily technical situation remains negative, but we can still see some signs of bending on the WaveTrends, a sign that the bearish intensity is decreasing.
If we zoom in, the indicators on the 4h horizon remain positive for the moment, while the 1h technical situation is negative.
📈 Trend follower?
Positive in daily and negative in 1h and 4h.
👉 What can we do about it?
The daily technical situation shows a short-term rebound potential, with notably the presence of a bullish divergence on the CCI. In this eventuality, the 8220 zone and the monthly open are the objectives. We will however wait for a bullish reversal on the low TF to exploit this possibility as you can see on the chart.
💹 Altcoins
The majority of altcoins remain in the red over the last 24 hours with impressive drops such as COCOS and HOT with respectively -16% and -14%. On the green side, REN, STX and HBAR stand out with an increase of 10%, 9.9% and 10.7% respectively.
The dominance of the Altcoins continues to rebound, which bodes well for the future!