Daily Market Analysis - BTC

The global market is down to 300B. Dominance is mostly unchanged at 68.72%. The price of Bitcoin is at 11,500.

Price action rose from 11,300 to 12,100 before pulling back to 11,500 forming a range of price action between the two.

Technical indicators on the smaller time frames suggest the price is oversold, the conflict between timeframes suggest short-term bullish price action, but an overall range until on of the two critical support and resistance points are broken.

Bearish: Volume continues to decline at 11,300 support is unable to hold causing a re-test of 10,700 - 11,000 support.

Bullish: Short-term buying pressure moves the price back up to 12,000, with enough volume, we could test 12,300.

Bullish 55% / Bearish 45%