BTC: Price: $7,300 | Market cap: $132.25 Billion | 24-Hr Volume: $15.40 Billion
Short-trend: Bullish
BTC remains bullish short-term with long wicks attached to the previous two daily candles signaling a rejection of lower prices or lack of conviction among sellers.
The daily chart MACD histogram has crossed above zero, confirming a short-term bullish reversal. The bullish hammer reversal pattern confirmed on the three-day chart last week is also valid with prices holding well above $6,847.
Bitcoin looks set to retest a falling trendline support at $7,600. A violation there would expose the recent high of $7,870. A break below $6,847 would weaken the bullish case.
Long-term trend: Neutral
Bitcoin has found acceptance below the 50-week MA – a cause of concern for the bulls. Historically, the cryptocurrency has suffered deeper losses after falling below the key average.
Short-trend: Bullish
BTC remains bullish short-term with long wicks attached to the previous two daily candles signaling a rejection of lower prices or lack of conviction among sellers.
The daily chart MACD histogram has crossed above zero, confirming a short-term bullish reversal. The bullish hammer reversal pattern confirmed on the three-day chart last week is also valid with prices holding well above $6,847.
Bitcoin looks set to retest a falling trendline support at $7,600. A violation there would expose the recent high of $7,870. A break below $6,847 would weaken the bullish case.
Long-term trend: Neutral
Bitcoin has found acceptance below the 50-week MA – a cause of concern for the bulls. Historically, the cryptocurrency has suffered deeper losses after falling below the key average.
Money isn't real
2