Bitcoin Flow Out Of Consolidation

4 июн. 2020 г.

Presently in consolidation banging the P action head on the lower inner upward channel bottom. A pop back into will get price in an area of the previous wicks to retest 10k…

Yesterdays write up will clarify a lot of what I’m looking (see below) . However you’ll see a trend line on the daily marked in light blue. I’ll be watching price to see the 'tightness' for a break between this and the inner upward channel bottom line. Slither above will present a less sticky situation. A break below and the outer downward channel could come into play with a perch situation written about prior.



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As of yesterdays write up still in play:

Weekly: P action from the highs came back down to test the top of the outer downward channel to its 100% zone, zoom in below:



Zooming in for clarity of P areas to be aware of note the area between the new trend line from the ATH and the top of the downward channel working as support and resistance points and a place P action may stall and slither a long in future movement



Daily: For safety of strength Bitcoin needs to prop up into the 9700-9800 region to slip back into the upward channel. As a test of the outer downward channel and the up move to settle into the consolidation zone noted below. Looking for Bitcoin to find itself in a push up or down here over the next hours



4 hour is the published picture covering the above

Happy Trading :)

Bitcoin to Date
Daily
Current Price: $9,646.5 USD
Daily Change %: -0.31%
Market Cap: $177,866,145,402.52 USD
24 Hour Volume: $24,923,586,130 USD
Population of the World: ~7,788,969,192+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361473456448 Satoshi’s / $22.77 USD per person

Overall
Approximate Bitcoin in Circulation: 18,393,444 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,607,531 BTC
Road to 21,000,000 Bitcoin Mined: 87.59%
Current Bitcoin Dominance: 65.87%




📈Support & Resistance📉*
Support Levels
1st Support Zone: 9170.7
2nd Support Zone: 8666.7
3rd Support Zone: 7840.4

Resistance Levels:
1st Resistance Zone: 9889.2
2nd Resistance Zone: 10285.8
3rd Resistance Zone: 10781.2



Price Level Consideration
Approximate Days Until Halving: 1437 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: 9447.2
Weekly Open: 9447.2



Current Price Zone: ACCUMULATION ZONE


Biggest Bitcoin Transaction of the Day**
1. 🚨4,400 BTC ($41,820,980 USD) transferred from unknown wallet ➡️ Coinbase 🚨
2. 🚨3,407 BTC ($32,583,209 USD) transferred from Binance ➡️ Unknown wallet 🚨
3. 🚨3,000 BTC ($28,595,537 USD) transferred from Binance ➡️ XAPO 🚨

Largest Cryptocurrency Transaction Today:
🚨 🚨699,999,981 XRP ($141,383,381 USD) transferred from Bitthumb ➡️ Unknown wallet 🚨 🚨

Gold***: $1,701.76 USD +3.27 +0.19%
Silver***: $17.60 USD -0.03 -0.14%

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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.


Created & published by Des Landen
Landen International