Daily Market Analysis - BTC
The market is down to 186.5B today. Dominance has continued to rise and is up to 57.10%. The price of Bitcoin is up to ~5900.
Yesterday, there was news of Binance being hacked which caused a quick sell off that was rapidly bought back up showing there is confidence in the market.
Selling pressure brought the price down to 5600 to re-test the 0.786 Fibonacci level which was confirmed as support for now.
If the price is able to break to the topside of the channel, we will most likely be testing the next resistance point at 6107.
Yesterday, there was news of Binance being hacked which caused a quick sell off that was rapidly bought back up showing there is confidence in the market.
Selling pressure brought the price down to 5600 to re-test the 0.786 Fibonacci level which was confirmed as support for now.
If the price is able to break to the topside of the channel, we will most likely be testing the next resistance point at 6107.
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