Market overview 16.4.| BTC+NASDAQ

Table of Contents

Bitcoin is breaking, exam for bullish channel!

Welcome to our market overview today.

overview of terms

In today’s market overview we look at Bitcoin. After Bitcoin reached $ 7,300 and broke strong resistance to $ 7,000, we did not hold it again and fell to the current value of $ 6700. This opens up new possibilities for the bearish channel. Is it the end of growth?

Check last Market Overview here

Crypto market currently has a total market value of $ 192 billion. The decline from high in 2020 is $ 115 billion and bitcoin dominance is 64.3%.

The best growth yesterday was:

Hyperion (HYN) $0,122489 USD (27,56%)

Enjin Coin (ENJ) $0,095491 USD (3,98%)

Terra (LUNA) $0,207711 USD (3,14%)

HedgeTrade (HEDG) $1,73 USD (1,69%)

The biggest drop was recorded:

Digitex Futures (DGTX) $0,041481 USD (-6,99%)

Ren (REN) $0,049399 USD (-6,41%)

Synthetix Network Token (SNX) $0,638387 USD (-6,84%)

Chainlink (LINK) $3,16 USD (-6,89%)

Basic Attention Token (BAT) $0,158009 USD (-6,08%)

World markets overview yeterday

SP500: -2,3 %. NASDAQ: -1,1 %. GOLD: -0,56 %. DOW J.: -2,2 %

On Tuesday we saw a strong upward reflection. Up to + 4.7% on top. On Wednesday, the market fell significantly to the value from which it started, then we saw a calmer growth. The situation calmed down a bit and it is not about such swings. Below is a 2-day graph.

[BTC / USD] In 2020 to present value: -5,4%

Bitcoin was mostly at 6,700 USD yesterday. In recent days, the scattering is only 300 USD. It will still be true that we see resistance at $ 7,000 and after breaking $ 7,700. However, we see a situation where two strong channels have been created.

We are still in bullish channel. But it is necessary to bounce upwards and keep the bottom side of the channel (support line). On Thursday at the latest, it will be decided which option investors will support. Almost 4 weeks bullish channel or slump and will create a new bearish channel. If we break the support line of the bullish channel, it is necessary to escape from Long, unless we return to the bullish channel again and try short until the top of the bullish channel is broken.