With the news of the lending service by the Binance, we started a week with great hopes. But let us tell you that in the past hours more than $ 52M of shorts were settled in Bitmex according to beincrypto.com.
Could this indicate a positive feeling on the part of the community? Let’s see.
In the last report, fear had completely taken over the market and the community in general. But according to what it shows alternative.me, we see that the most researchers begin to breathe a small positive air. With 41 points, marking to date, we can see an improvement. From an extreme fear, we move on to a calculated fear.
Anyway, it is not good to have high confidence. Remember that trade psychology can sometimes be misleading and much more in our market, where there is extremely high volatility. Therefore we show you here the variation of the market in recent days and as reported by coinmarketcap.com.
Total Market Capitalization & Dominance
Over the weekend, total market capitalization rose slightly from ~$266.6 billion to ~$268.9 billion with 24-hour volume averaging ~$60 billion.
Bitcoin Dominance is around 68%. But it is worth remembering that according to a curious study, in reality the dominance is more higher. According to that report, Bitcoin really lowers 90% of the market. In general, the market is still.
Bitcoin Daily Tracking
Bitcoin is currently trading around ~$10,250, pretty much where it left off on Friday.
On the daily chart, it is trading below its 50-day EMA line, with RSI level at ~43. It shows a low volume of negotiation between buyers and sellers. The theory of waiting for a better entry still continues.
We are still in a symmetrical triangle and to have a new bullfight it is necessary to break this barrier and also the high trend line formed after the last attempts at breaking.
Bitcoin Weekly Tracking
On the weekly chart, the MACD line has crossed over to the downside of the signal line, so we could see some overhead bearish pressure in the coming weeks. Take care!!!
Disclaimer: In no way does this article recommend the purchase of any assets, this is a personal opinion of the author. Investment in cryptocurrency is extremely risky and volatile. Also, if you are an investor, always do your own research before investing in anything!
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