The market has been moving sideways and that movement has remained stagnant over the weekend. The global cap is at $277.52B. Dominance is at 66% and the price of Bitcoin is at 10,100.
Over the weekend, the market cap did not fluctuate more than 3%. Dominance did not even move .5%.
The lack of volume conveys an extreme lack of decisiveness from market participants.
Although indicators are oversold, the lack of volume has broken the upward momentum of price action leading to a decline in price from 11,100 down to 10,100.
The small price spike over the weekend can most likely be attributed to anticipation caused by Bakkt launching their service testing to individuals today.
Price has been rejected multiple times by the short-term resistance trendline (orange).
Bearish: The price is unable to overcome the short-term resistance trendline and re-tests support at 9,700.
Bullish: If the price can break to the topside of the short-term resistance, the price should move back up to 11,100 resistance at the conversion line.
Bullish 60% / Bearish 40%
Over the weekend, the market cap did not fluctuate more than 3%. Dominance did not even move .5%.
The lack of volume conveys an extreme lack of decisiveness from market participants.
Although indicators are oversold, the lack of volume has broken the upward momentum of price action leading to a decline in price from 11,100 down to 10,100.
The small price spike over the weekend can most likely be attributed to anticipation caused by Bakkt launching their service testing to individuals today.
Price has been rejected multiple times by the short-term resistance trendline (orange).
Bearish: The price is unable to overcome the short-term resistance trendline and re-tests support at 9,700.
Bullish: If the price can break to the topside of the short-term resistance, the price should move back up to 11,100 resistance at the conversion line.
Bullish 60% / Bearish 40%
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