BTC 4H 1D 1W 1M Weekly section: Bitcoin Weekend №4

2 янв. 2021 г.

Welcome to the New 2021, let it be definitely better than the previous year, and let all your wishes come true.

Even the festive New Year mood cannot take our desire to write the weekly digest "Bitcoin Weekend".

Here is the BTCUSD chart in 4 timeframes and let's try to figure out what is visible there.

The past week, as well as the last month of 2020 in general, passed under the auspices of growth. ATH was updated and, roughly speaking, an increase by +50% from $20 to $30 thousand in less than a month.
Both weekly and monthly candles have already gained a good acceleration, the only thing that is alarming is the trading volumes that do not grow.
Now the price of BTCUSDT has crept up to the round $30,000 and a collapse can happen very abruptly, when everyone is in a festive mood and attention is scattered.
The previous month candle closed with a full-body, there is not enough shadow from above, it is possible this month they will break $30,000 up, squeeze to $31,700-32,000 and down.

We don't see anything extraordinary on daily candles, steady growth continues without volumes, such things end badly.
It may even not be enough strength to break above $30,000, having achieved the target from our previous BTC idea.
At the 4h time frame, one can see and assume that the BTCUSD price is moving within and forming a bearish wedge. If the price falls below the lower limit, it can provoke a flow to the liquid levels of $23,750 and $20,000.

Bitcoin dominance is already reaching almost 72% and as long as it remains so high, there will be no altseason. BTC is growing due to the flow of capital from the alts to Bitcoin, because we did not see any signs that fresh money was entering the crypto market.
Can you indicate in the comments what we miss and do not see?

Regulators are starting to take cryptomarket seriously:
- SEC filed a lawsuit against Ripple and collapsed its price
- Bitstamp exchange has sent out "letters of happiness" confirming the origin of assets, they need to be clean before auditors.
- yesterday, the crypto exchange Bittrex wrote that it will remove the anonymous coins Monero, ZCash and Dash on Friday, 15 January, at 23:00 UTC. The value of all coins sharply fell. Although exchanges no longer have the same influence as in 2017, the signal that anonymity is not welcome is understandable.
And this is only the loudest news, probably there will be more ...

And perhaps the crypto market is really starting to regulate and prepare for the big players.
We analyzed the Dow Jones index and SP500 and there is an assumption that profit taking may start there. Read and write what you think about this, we are interested in reading and gathering new information and opinions.

Have a great weekend everyone)
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