BTC DAILY: 7/11/20
Election "Week"
1HR: Bearish
4HR: Very Bullish
Daily: Bullish
Weekly: Very Strong Bullish
Monthly: Very Strong Bullish
Overall: Very Bullish (With short term consolidation)
Buy/Sell Wall: Bigger buying pressure tan selling pressure at $15.1k-$15.2k expect a bounce here should it drop
Volatility: Expect anything with BTC right now, could be a huge correction incoming
Volume: Volume hugely decreasing, could mean a big sell of is incoming
BTC Dominance: Dominance is finally dropping approx. 2.5% to 64.56% and giving ALT's some recovery
ALTS: Massive volume coming in with a 15% rise in ALT market cap
Local Support: $15, 133
Next Support: $14,080
Local Resistance: $17,169
Next Resistance: $19,779
Fundamentals:
-4th Nov. Elections Week - Stocks are down Crypto is rocketing
-Stimulus Cheques - Will drop soon after president is confirmed - hugely bullish news
Technical' s:
- RSI Overbought
- Strongly above 200EMA
- Bearish Future Pivot (Could be a correction incoming to $14891)
- Bullish Recent Wick
- Bullish Short Term Correlation
- Bullish Trendlines
Personal Opinion:
What is there to say right now other that hold on for the moon ride.
We are seeing a small bit of rest bite and consolidation, with volume finally slowing down. Actually expecting a correction, possibly just a wick, to $14874 with a sharp buy back and continued rise. Fully expecting some more intense upward movement with a test of the $17k over the coming week or two.
As mentioned if we see a big correction down even to the $14k mark (even typing that feels weird) then BUY BUY BUY!!!
Election "Week"
1HR: Bearish
4HR: Very Bullish
Daily: Bullish
Weekly: Very Strong Bullish
Monthly: Very Strong Bullish
Overall: Very Bullish (With short term consolidation)
Buy/Sell Wall: Bigger buying pressure tan selling pressure at $15.1k-$15.2k expect a bounce here should it drop
Volatility: Expect anything with BTC right now, could be a huge correction incoming
Volume: Volume hugely decreasing, could mean a big sell of is incoming
BTC Dominance: Dominance is finally dropping approx. 2.5% to 64.56% and giving ALT's some recovery
ALTS: Massive volume coming in with a 15% rise in ALT market cap
Local Support: $15, 133
Next Support: $14,080
Local Resistance: $17,169
Next Resistance: $19,779
Fundamentals:
-4th Nov. Elections Week - Stocks are down Crypto is rocketing
-Stimulus Cheques - Will drop soon after president is confirmed - hugely bullish news
Technical' s:
- RSI Overbought
- Strongly above 200EMA
- Bearish Future Pivot (Could be a correction incoming to $14891)
- Bullish Recent Wick
- Bullish Short Term Correlation
- Bullish Trendlines
Personal Opinion:
What is there to say right now other that hold on for the moon ride.
We are seeing a small bit of rest bite and consolidation, with volume finally slowing down. Actually expecting a correction, possibly just a wick, to $14874 with a sharp buy back and continued rise. Fully expecting some more intense upward movement with a test of the $17k over the coming week or two.
As mentioned if we see a big correction down even to the $14k mark (even typing that feels weird) then BUY BUY BUY!!!
