Technical Analysis
Good Morning!
Currently, markets are quite boring, aside from some smaller token moves. Larger tokens continue to trade in a range that seems to becoming more and more narrow. This could be an indication that we will see some volatility coming back into the market.
I will only focus on BTC today, but I'm happy to take a closer look at other coins, too. Simply ping me privately.
Bitcoin BTC (daily)
The base line seems to have been the reference point over the past 6-8 weeks. We crossed it on our way down (at around 55'000 USD), and since then, we have barely managed to push back above it.
An unpopular opinion might claim that it looks like a "dead cat bounce". I think we can only confirm that this is the case if we start trading below 29'000 USD, which could trigger further selling pressure. However, if it holds, everybody will say it was clear that we were in a consolidation phase. I reckon we need to push through 38'000 USD to get some bullish momentum back.
Otherwise, there is not much more to add. It is a sideways moving market: try not to overtrade, and stick to the range levels if you want to put on positions.
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