Bitcoin Back On The Perch

23 мая 2020 г.

P action sits just above the outer downward channel of price action after dipping below and testing the inner upward channel for the forth time. Today focusing on the daily and 4 hour charts;

Inner Perspective (Daily Chart)
P action sitting on a perch here again:


Area of Interest
Todays focus area:


Here you can clearly see that P action is sitting on that downward channel upper trend line. P action needs to show strength with the Bulls to push this market to 9400 for more confidence.

Hesitantly this market looks more heavy with this open and could retest into the inner downward channel and test the inner upward channel lower trend line. If market flows back into the triangle we may apex through the weekend. This will see P action fight the previous consolidation zone and equal fluff. Will continue to watch these price points hit..



📈Support & Resistance📉*
Support Levels
1st Support Zone: 8792.4
2nd Support Zone: 8364.4
3rd Support Zone: 7883.0

Resistance Levels:
1st Resistance Zone: 9630.8
2nd Resistance Zone: 9839.5
3rd Resistance Zone: 10321.3


Price Level Consideration
Approximate Days Until Halving: 1370 Days (Pending Timezone / Blocks Mined)
All Time High Half Way Point: 9942.5
Prominent High: 13767.4
Prominent Low: 3994.1

🐃 Bulls Verse Bears 🐻
🐃 Bullish Above: 10485.8
🐻 Bearish Below: 6474.1

Monthly & Weekly Opens
Monthly Open: 8629.2
Weekly Open: 9667.4



Current Price Zone: ACCUMULATION ZONE


Bitcoin to Date
Daily
Current Price: $9160.8 USD
Daily Change %: +1.16%
Market Cap: $168,490,326,824.80 USD
24 Hour Volume: $29,879,610,150 USD
Population of the World: ~7,786,281,000+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361007649223 Satoshi’s / $21.62 USD per person

Overall
Approximate Bitcoin in Circulation: 18,383,469 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,616,531 BTC
Road to 21,000,000 Bitcoin Mined: 87.54%
Current Bitcoin Dominance: 67.58%



Biggest Bitcoin Transaction of the Day**

1.🚨1,174 Bitcoin ($10,817,422 USD) transferred from Coinbase ➡️ Unknown Wallet

Largest Cryptocurrency Transaction Today:
🚨🚨31,992,639 USDT ($32,025,218 USD) transferred from Bitfinex ➡️ Unknown Wallet🚨🚨

Gold***: $1,735.44 USD -0.76 -0.04%
Silver***: $17.21 USD -0.01 -0.05%

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*📈Support & Resistance📉: These are typically zones & not exact price levels depicted by the lines. Keep in mind that price may respect and repeatedly touch several times on smaller time frames.
**What you won’t see on exchanges: This is purely to reference that traders watching the charts are neglecting the ‘Transaction Sentiment’ of large (🐳 WHALE) transactions from wallet to wallet and OTC execution send transactions (new/old wallets). TIP: The amount/s transferred daily tells a story of flow to potential market dynamics that may transpire.
*** Personally I HODL Gold/Crypto over having a majority of Fiat currency 💸. Previously before trading crypto in 2015, Gold was one of my main charts thus I look at the price regularly comparative to Bitcoin.

Published by Des Landen