This is a daily technical analysis of the Coindesk analyst and rented market technician Omkar Godbole.
Imagine two important newspapers that support the same presidential candidate. The joint support indicates that the candidate probably has a broad support.
Similarly, when prices are recorded for both bitcoins BTC$104,020.02 and strategy (MSTR), the largest head of BTC that is quoted in the stock market, shows concurrent bullish signs, is likely to be a strong sign that the market and the main institutional players are aligned.
The daily price graphics for BTC and MSTR show their simple mobile averages (SMA) of 50 days above their 100 -day SMA to confirm a call Crossover bullish. It is a sign that the short -term trend is now exceeding the long -term trend, which could be a sign of the beginning of an important upward market.
The BTC Bull Bull cross is consistent with other indicators such as the MACD, which suggests that the lower resistance path is on the upper side.
That said, a provisional drop can not be ruled out below $ 100,000, since the data in the chain shows that influential market participants have become cautious.
The picture shows that the BTC price rally has stagnated in the range of $ 101,000- $ 107,000. A downward break could cause more profits, potentially deepening the backward market setback to support $ 98,000.
