BTC DAILY : 4/12/20 Top of the Rollercoaster
BTC DAILY : 4/12/20
Top of the Rollercoaster
Technical' s
15M: VERY BULLISH
1HR: BULLISH
4HR: VERY BULLISH
Daily: VERY BULLISH
Weekly: VERY BULLISH
Monthly: VERY BULLISH
Overall: VERY BULLISH
Buy/Sell Wall: Hugely disproportionate Sell's vs Buys between 19.4k up to 20k vs 19.4k to 19k. Some big buys needed to break through.
Volatility: Low during this drive towards the 3rd retest - heavy volatility expected.
ALTS: ALT Trading will be rocky over the next few days either way - it is worth keeping positions small and targets smaller with tighter stop-losses than usual. Both BTC Dominance and ALT Market Cap has been consolidating since 30th Nov - gearing up to a move in either direction.
Local Support: $18,000
Next Support: $16,200
Local Resistance: $19,500
Next Resistance: $19,900
Fundamentals:
- PayPal/Square - Continually buying all mined BTC spiking price - Very Bullish
- Announced integration with VISA - Ultra Bullish - Guggenheim Partners (200bn plus asset managers) allocate capital (up to 500m) to crypto - Very Bullish - Grayscale Bitcoin Trust continues buying BTC (140m just this week) - Very Bullish
- VISA Integration with Crypto - Very Bullish
- 2021 Bitcoin Indices added to the S&P - Extremely Bullish
- Integration with Spotify - Very Bullish
Personal Opinion:
There are more than enough fundamentals in place to take this to the elusive 20k although the reality is that price is still high - so a lot of these investor may just be committing now to the next big crash or correction leaving it to the retail traders and armchair investors to try and drive it up?
We are amidst the 3rd re-test of critical resistance so imminently about to see the breakout or big rejection.
Adjusted Support/Resistance with a big move in mind for the in the next 24 hours.
Bearish Divergences seen on both the 25th Rejection (And heavily overbought) and the 1st Rejection although nothing formed...yet for this test - good sign so far.
Continued sentiment towards the break-up and a rapid climb to 21k - failing that then it will be sharp drop to 18k and beyond that will make a continued sell off to 16.2k.
Top of the Rollercoaster
Technical' s
15M: VERY BULLISH
1HR: BULLISH
4HR: VERY BULLISH
Daily: VERY BULLISH
Weekly: VERY BULLISH
Monthly: VERY BULLISH
Overall: VERY BULLISH
Buy/Sell Wall: Hugely disproportionate Sell's vs Buys between 19.4k up to 20k vs 19.4k to 19k. Some big buys needed to break through.
Volatility: Low during this drive towards the 3rd retest - heavy volatility expected.
ALTS: ALT Trading will be rocky over the next few days either way - it is worth keeping positions small and targets smaller with tighter stop-losses than usual. Both BTC Dominance and ALT Market Cap has been consolidating since 30th Nov - gearing up to a move in either direction.
Local Support: $18,000
Next Support: $16,200
Local Resistance: $19,500
Next Resistance: $19,900
Fundamentals:
- PayPal/Square - Continually buying all mined BTC spiking price - Very Bullish
- Announced integration with VISA - Ultra Bullish - Guggenheim Partners (200bn plus asset managers) allocate capital (up to 500m) to crypto - Very Bullish - Grayscale Bitcoin Trust continues buying BTC (140m just this week) - Very Bullish
- VISA Integration with Crypto - Very Bullish
- 2021 Bitcoin Indices added to the S&P - Extremely Bullish
- Integration with Spotify - Very Bullish
Personal Opinion:
There are more than enough fundamentals in place to take this to the elusive 20k although the reality is that price is still high - so a lot of these investor may just be committing now to the next big crash or correction leaving it to the retail traders and armchair investors to try and drive it up?
We are amidst the 3rd re-test of critical resistance so imminently about to see the breakout or big rejection.
Adjusted Support/Resistance with a big move in mind for the in the next 24 hours.
Bearish Divergences seen on both the 25th Rejection (And heavily overbought) and the 1st Rejection although nothing formed...yet for this test - good sign so far.
Continued sentiment towards the break-up and a rapid climb to 21k - failing that then it will be sharp drop to 18k and beyond that will make a continued sell off to 16.2k.
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