BTC DAILY : 14/12/20 - Waiting game - CryptoNicho
Chart Analysis by CryptoNicho (Shared with Consent)
BTC DAILY : 14/12/20
Waiting game
Technical' s
15M: Neutral
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: Bullish
Monthly: Bullish
Overall: Bullish
Buy/Sell Wall: Sells at $19,430 & $19,360, no significant buys visible!
Volatility: High - ranging around 2% with no clear direction.
ALTS: Stabilising, tentatively positive with BTC holding its head above $19k although BTC dominance is rising (64.5% at time of writing).
Local Support: $17,900
Next Support: $17,600
Local Resistance: $19,410
Next Resistance: $19,600
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution - Very Bearish (TBC 15 Dec)
- Microstrategy - Potential 400m investment into BTC - Bullish (Unlikely until next dip)
- G7 Summit Crypto Topic - Regulations - Bearish Short-Term/Bullish Long Term
- MassMutual Insurance Firm Buys $100 Million #Bitcoin ‘Insurance’ - Bullish
- IRS adds Crypto to page one of income tax return - Bullish (mainstream credibility derived)
- JP Morgan predicts $600bn could move into BTC from Insurance companies & Pension funds - V. Bullish
Personal Opinion:
Slow news day on the BTC front, technicals remain bullish, over 200 EMA, bullish RSI, and solid support at $17,600. We bounced at $18,800 and we’re likely headed to $19,400 again.
Resistance at $19,400 remains equally robust with notable sell blocks indicating another re-test without any significant change in buying pressure will result in a failure.
We’re really waiting for the big play news or sentiment setter to drop and give us our mid term direction, will JP Morgans assessment that Pension and Insurance providers will look to anchor their funds with BTC be realised and cause a surge or will we see a big sell off from the Mt. Gox drop?
Until we get something definitive to react to expect to range as we are!
BTC DAILY : 14/12/20
Waiting game
Technical' s
15M: Neutral
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: Bullish
Monthly: Bullish
Overall: Bullish
Buy/Sell Wall: Sells at $19,430 & $19,360, no significant buys visible!
Volatility: High - ranging around 2% with no clear direction.
ALTS: Stabilising, tentatively positive with BTC holding its head above $19k although BTC dominance is rising (64.5% at time of writing).
Local Support: $17,900
Next Support: $17,600
Local Resistance: $19,410
Next Resistance: $19,600
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution - Very Bearish (TBC 15 Dec)
- Microstrategy - Potential 400m investment into BTC - Bullish (Unlikely until next dip)
- G7 Summit Crypto Topic - Regulations - Bearish Short-Term/Bullish Long Term
- MassMutual Insurance Firm Buys $100 Million #Bitcoin ‘Insurance’ - Bullish
- IRS adds Crypto to page one of income tax return - Bullish (mainstream credibility derived)
- JP Morgan predicts $600bn could move into BTC from Insurance companies & Pension funds - V. Bullish
Personal Opinion:
Slow news day on the BTC front, technicals remain bullish, over 200 EMA, bullish RSI, and solid support at $17,600. We bounced at $18,800 and we’re likely headed to $19,400 again.
Resistance at $19,400 remains equally robust with notable sell blocks indicating another re-test without any significant change in buying pressure will result in a failure.
We’re really waiting for the big play news or sentiment setter to drop and give us our mid term direction, will JP Morgans assessment that Pension and Insurance providers will look to anchor their funds with BTC be realised and cause a surge or will we see a big sell off from the Mt. Gox drop?
Until we get something definitive to react to expect to range as we are!
