BTC DAILY : 2/1/21 $30k Rejection or $40k
BTC DAILY : 2/1/21
30k Rejection or 40k
Technical' s
15M: Very Bullish
1HR: Very Bullish
4HR: Bullish
Daily: Bullish
Weekly: Very Strong Bullish
Monthly: Very Bullish
Overall: Very Bullish
Sell Wall
30k-30.1k - 1.5k BTC
This is quite large for focused amounts
Volatility: Low & Controlled ascent
Volume: Consolidating for big move breakout soon
Dominance - Breakout of the 71.49 resistance and rising - damagaing for ALTS
ALTS: Increasing BTC dominance and price is causing attention shifting to BTC - so ALT's will be stagnant - a big rejection at 30k will rekt them so be wary trading long's and even more so with leverage as there will be some wick stop hunters.
Local Support: 28.6k
Next Support: 27.8k
Local Resistance: $27, 500
Next Resistance: N/A
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- $600 stimulus package will start filtering in - Hugely Bullish
- Coinbase going Public - Big eyes on Crypto
- Pro Crypto appointment at the SEC - V. Bullish
- XRP delisting from major exchanges (Coinbase/Okex/Crypto.com/bitfinex)- Bearish for Crypto
Biden Inauguration 20th Jan along with some "Dump Event" doing the rounds on trading channels - Bearish (Apparently)
- Tighter regulations on Private wallets being debated - Volatility
Personal Opinion:
Here we finally are at the 30K resistance as expected large sell walls building and building. IT would be a huge surprise if there isn't a large retrace to 28.6k in a very rapid descent here With Divergences, untested weeklys/monthlys, sell walls and psychological barriers then a retrace seems inevitable. That being said if it is broken and then here we go again into uncharted territory and 40k is not unreasonable to assume.
Prediction - 30k broken retrace to 28.6k and then to 27.6k. Possible bounce there although I think it will range until 20th January when there is a supposed large scale "Dump Event" and a few other factors going on!
Let us know your thoughts in the comments
30k Rejection or 40k
Technical' s
15M: Very Bullish
1HR: Very Bullish
4HR: Bullish
Daily: Bullish
Weekly: Very Strong Bullish
Monthly: Very Bullish
Overall: Very Bullish
Sell Wall
30k-30.1k - 1.5k BTC
This is quite large for focused amounts
Volatility: Low & Controlled ascent
Volume: Consolidating for big move breakout soon
Dominance - Breakout of the 71.49 resistance and rising - damagaing for ALTS
ALTS: Increasing BTC dominance and price is causing attention shifting to BTC - so ALT's will be stagnant - a big rejection at 30k will rekt them so be wary trading long's and even more so with leverage as there will be some wick stop hunters.
Local Support: 28.6k
Next Support: 27.8k
Local Resistance: $27, 500
Next Resistance: N/A
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- $600 stimulus package will start filtering in - Hugely Bullish
- Coinbase going Public - Big eyes on Crypto
- Pro Crypto appointment at the SEC - V. Bullish
- XRP delisting from major exchanges (Coinbase/Okex/Crypto.com/bitfinex)- Bearish for Crypto
Biden Inauguration 20th Jan along with some "Dump Event" doing the rounds on trading channels - Bearish (Apparently)
- Tighter regulations on Private wallets being debated - Volatility
Personal Opinion:
Here we finally are at the 30K resistance as expected large sell walls building and building. IT would be a huge surprise if there isn't a large retrace to 28.6k in a very rapid descent here With Divergences, untested weeklys/monthlys, sell walls and psychological barriers then a retrace seems inevitable. That being said if it is broken and then here we go again into uncharted territory and 40k is not unreasonable to assume.
Prediction - 30k broken retrace to 28.6k and then to 27.6k. Possible bounce there although I think it will range until 20th January when there is a supposed large scale "Dump Event" and a few other factors going on!
Let us know your thoughts in the comments
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.