There is still no substantial change in the BTC market’s short-term and midterm trends. In the midterm, the first and foremost cryptocurrency is in a dovish consolidation pattern. The short-term pattern is more bearish. There is no clear direction or market momentum at the moment.
The long wick on the 15-minute chart shows good buying support around $9,100, which is also today’s intraday support level. Resistance is located near $9,300. As the stock market continues to ride high, it seems unlikely that BTC will make any major corrections in the immediate future.
The BTC long/short ratio fell from yesterday’s 1.19 to 1.18, indicating that retail traders are not optimistic about the short-term bounce. We may still see the price hovering in a tight $200 range.
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source https://www.reddit.com/r/btc/comments/hrldod/btc_technical_analysis/
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