Hi traders, here's a quick market update from yesterday's analysis.

Market.

The bitcoin market is technically bearish since the price is still trapped inside a bear channel. The $185,306,425,387 question is: are we going to produce another dead cat-bounce ?

• On the one hand the daily volume looks healthy and Bitcoin's fundamentals are stronger than ever thanks to the (slow) deployment of the lightning network and plummeting transaction fees;

• On the other hand, the daily RSI shows divergence and is overbought and, more importantly, we broke below the immediate trendline which could now turn into resistance and trigger more bearishness.

Don't Hodl and Hope.

Cheers.