What's The Feeling This Morning?
The beginning of the session was rather calm, in line with the end of the previous session. However, the market rose sharply to around 3 am (CEST). Indeed, market capitalization increased from 210 billion to 222 billion in the space of two hours. It now stands at $217 billion.
Bitcoin also increased impulsively overnight from $6,460 to a high of $6,882 before falling back to $6,650. The technical situation on the 1h horizon is rather negative even if the MACD has not yet crossed downwards. On the other hand, on a daily horizon and 4 hours, the technical situation is rather positive.
Nevertheless, we must remain cautious because the resistance to 6,800$ is solid and a fall is never impossible, especially in this climate of uncertainty concerning the SEC's future decisions.