Market Analysis - BTC

The global market cap is up to 270B. Dominance has dropped down to 68.11%. The price of Bitcoin is struggling at 10,200.

Bitcoin has undergone continuous selling pressure over the last 5 days, but the price has managed to stay above the short-term support zone.

The selling pressure has kept Bitcoin from participating in the small rally that other top coins have been experiencing.

Volatility has reached a low point indicated by the RVI. That in combination with the daily closes above the support should, we should see the price re-test 11,000 resistance in the next week or so.

However, the Stochastic RSI has not yet reached it's bottom, which indicates there could be further short-term downside.

Bearish: If price action breaches and closes below short-term support at 10,000, there is a lack of support until the price reaches ~9,600.

Bullish: If the volume is able to pick up in the short-term, the price action could re-test the 10,500 resistance.

Bearish 55% / Bullish 45%