BTC DAILY : 12/12/20 - Don't get too excited
BTC DAILY : 12/12/20
Don't get too excited
Technical' s
15M: Bullish
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: Bullish
Monthly: Bullish
Overall: Bullish (Short-Term Bullish - Long Term - Bearish)
Buy/Sell Wall:
Buys
16.2k - 730 BTC (Big Bounce expected here)
Volatility: High - Bullish. 5% rise in 24 hours rejection expected
ALTS: Volume going into ALT's - potential for short term long trades although minimise risk and exposure as hard rejection will get you rekt.
Local Support: $17,645
Next Support: $16,530
Local Resistance: $18,500
Next Resistance: $18,850
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
Personal Opinion:
Don't get too excited about a 20k rally just yet - it does seem to be tracking on the higher bounce prediction line now. Although there are still two key points of resistance to break through at 18.6k and then at 18.9k not to mention the psychological barrier of 19k.
There is little commitment either way in regards to buy/sell walls although that can mean very little usually - until the 16.2k region.
My forecast now rejection between the 18.6k to 18.9k region pushing back down to the 17.6k support and breaking down on this go to test 16.5k region (16.8k - 16.2k). This is predicated on a very similar pattern that just occurred before the the last breakdown highlighted green.
I believe there is enough time to capture some ALT trades whilst they are rallying although long term long's are probably not the best idea if the above rings true.
Don't get too excited
Technical' s
15M: Bullish
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: Bullish
Monthly: Bullish
Overall: Bullish (Short-Term Bullish - Long Term - Bearish)
Buy/Sell Wall:
Buys
16.2k - 730 BTC (Big Bounce expected here)
Volatility: High - Bullish. 5% rise in 24 hours rejection expected
ALTS: Volume going into ALT's - potential for short term long trades although minimise risk and exposure as hard rejection will get you rekt.
Local Support: $17,645
Next Support: $16,530
Local Resistance: $18,500
Next Resistance: $18,850
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
Personal Opinion:
Don't get too excited about a 20k rally just yet - it does seem to be tracking on the higher bounce prediction line now. Although there are still two key points of resistance to break through at 18.6k and then at 18.9k not to mention the psychological barrier of 19k.
There is little commitment either way in regards to buy/sell walls although that can mean very little usually - until the 16.2k region.
My forecast now rejection between the 18.6k to 18.9k region pushing back down to the 17.6k support and breaking down on this go to test 16.5k region (16.8k - 16.2k). This is predicated on a very similar pattern that just occurred before the the last breakdown highlighted green.
I believe there is enough time to capture some ALT trades whilst they are rallying although long term long's are probably not the best idea if the above rings true.
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