BITCOIN - Technical Analysis
❌ Bitcoin has risen slightly today after yesterday's crashes. Bitcoin traded at $ 38,300 yesterday. It is currently priced at $ 39,200.
Today, Bitcoin's dominance in the digital currency market is about 42.5% of the total volume of the cryptocurrency market. The volume of this market (Market Cap) has reached about 1.75 billion dollars today. THORChain and Secret currencies, with 13% and 9% profit, have been the most profitable currencies in the digital currency market today.
Fear and Greed index of digital currencies has reached 22 today. Yesterday, this index was in the same range, which indicates the Extreme Fear of these days of investors in this market.
✅ Bitcoin is currently at the bottom of an uptrend channel in the 4-hour timeframe. So far, its reaction to the blow to the channel's floor has been positive, but it remains to be seen what will happen in the future candlesticks.
The acceleration of the falls has slowed down so far. If the price grows faster, we can expect the next destination of Bitcoin to be $ 42,000, which is the middle of the current uptrend channel.
But if low time frame sellers decide to sell heavily, it is also possible that the current channel will be lost. In this case, the first support for Bitcoin will be in the range of $ 37,000.
Today, Bitcoin's dominance in the digital currency market is about 42.5% of the total volume of the cryptocurrency market. The volume of this market (Market Cap) has reached about 1.75 billion dollars today. THORChain and Secret currencies, with 13% and 9% profit, have been the most profitable currencies in the digital currency market today.
Fear and Greed index of digital currencies has reached 22 today. Yesterday, this index was in the same range, which indicates the Extreme Fear of these days of investors in this market.
✅ Bitcoin is currently at the bottom of an uptrend channel in the 4-hour timeframe. So far, its reaction to the blow to the channel's floor has been positive, but it remains to be seen what will happen in the future candlesticks.
The acceleration of the falls has slowed down so far. If the price grows faster, we can expect the next destination of Bitcoin to be $ 42,000, which is the middle of the current uptrend channel.
But if low time frame sellers decide to sell heavily, it is also possible that the current channel will be lost. In this case, the first support for Bitcoin will be in the range of $ 37,000.
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