Daily Market Analysis - BTC

The market has continued to rise and is up to 176.23B. Dominance has continued diminishing and is down to 54.71%. The price of Bitcoin is just above 5300.

The Tenkan San (blue line) is acting as support, the stochastic RSI is forming a possible double bottom, the Chikou is nearing the price, which could indicate another breakout within the next week. Continued support at this level would suggest the price tests resistance soon.

The 4 hour chart is bearish, and the 1 hour chart is showing signs of a bull divergence. These indications point to a ranging period between 5200 - 5400 over the next 12-24 hours.