#BTCDAILY : 20/ 01 /21 Breaking Bit?
#BTCDAILY : 20/ 01 /21
Breaking Bit?
Sell Walls
$37.6Kk - 356 BTC
Buy Wall
$34.5k - 250 BTC
$33k - 400 BTC
Volatility: Consolidating in a symmetrical triangle - in third and final stage - volatility low on MACD consolidating on the within Bollinger Bands on the VP POC and also the Weekly Pivot
ALTS: BTC Dom UP+ BTC Price Down = Bad News for ALTS
Local Support: $33.7k
Next Support (MAJOR): $30k.5k
Local Resistance: $38k
Next Resistance: $40k
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- New $2000 Stimulus Package Potential - Hugely Bullish
- Pro Crypto appointment at the SEC - V. Bullish
- Institutional Investment continues - Skybridge Capital ($182 million in December) / MassMutual ($100 million in December) / Guggenheim (up to 10% of its $5 billion macro fund).
- Greyscale dumped another $600m BTC in their holdings - Bullish
- Ruffer institution joins the race with a $750m holding - Bullish
- Expected Riots at the Biden Inauguration TODAY, last time this happened BTC pumped - Bullish
Personal Opinion:
Still not much has changed from the 14th January we are bouncing inside the symmetrical triangle perfectly - a big breakout one way or another is coming. I am of the bullish sentiment targets on chart. I am definitely bullish for 40k maybe 41k but I am apprehensive about any higher now and think BTC may be running on fumes.
Breaking Bit?
Sell Walls
$37.6Kk - 356 BTC
Buy Wall
$34.5k - 250 BTC
$33k - 400 BTC
Volatility: Consolidating in a symmetrical triangle - in third and final stage - volatility low on MACD consolidating on the within Bollinger Bands on the VP POC and also the Weekly Pivot
ALTS: BTC Dom UP+ BTC Price Down = Bad News for ALTS
Local Support: $33.7k
Next Support (MAJOR): $30k.5k
Local Resistance: $38k
Next Resistance: $40k
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- New $2000 Stimulus Package Potential - Hugely Bullish
- Pro Crypto appointment at the SEC - V. Bullish
- Institutional Investment continues - Skybridge Capital ($182 million in December) / MassMutual ($100 million in December) / Guggenheim (up to 10% of its $5 billion macro fund).
- Greyscale dumped another $600m BTC in their holdings - Bullish
- Ruffer institution joins the race with a $750m holding - Bullish
- Expected Riots at the Biden Inauguration TODAY, last time this happened BTC pumped - Bullish
Personal Opinion:
Still not much has changed from the 14th January we are bouncing inside the symmetrical triangle perfectly - a big breakout one way or another is coming. I am of the bullish sentiment targets on chart. I am definitely bullish for 40k maybe 41k but I am apprehensive about any higher now and think BTC may be running on fumes.
Comment:
This being said if $33.7k support is lost then extremely bad time likely quick fall to 30.5k
