Bitcoin To Break Consolidation ATH Trend Line Looming

Jun 7, 2020

Bitcoin P action currently hanging at the top of consolidation making it nearly 11 days of settling in this price zone. A test to the low of the consolidation transpired earlier with a retrace to the levels now. With 10k looming above with resistance will need to see Bulls strength needing to attempt to push back into the inner upward channel (APEX). This is a limbo area to start the week off, and bulls need to drop those numbers into the market to lift the volume to build the steam.

If price is to stay at these levels the ATH trend line will slowly close into the market. Note it’s already been tested last week to retrace all of the gained P action territory.



A push out of this consolidation is key or the bears will be lurking to push further down. It’s still early in the month so a drop may recharge the batteries to push midway through to close a high. Early days but we're watching an escape from this consolidation.

Happy Trading :)

Bitcoin to Date
Daily
Current Price: $9,718.7 USD
Daily Change %: +0.52%
Market Cap: $178,530,965,121.65 USD
24 Hour Volume: $23,981,476,842 USD
Population of the World: ~7,789,822,200+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361746844492 Satoshi’s / $22.95 USD per person

Overall
Approximate Bitcoin in Circulation: 18,397,588 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,602,413 BTC
Road to 21,000,000 Bitcoin Mined: 87.61%

Current Bitcoin Dominance: 66.00%




📈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: 1433 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 (will change at open)



Current Price Zone: ACCUMULATION ZONE


Gold***: $1,683.86 USD -0.85 -0.05%
Silver***: $17.42 USD +0.00 +0.00%

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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