Bitcoin Downward Pressure CONFIRMED=Double Bottom. Break The Low
Bitcoin ‘GOLD 2.0’ Overview: We are intently watching price today as this is a critical area. Through this down movement we have tested the bottom wick @ the 9300 area forming a double bottom pattern. From here with the open of this daily candle bears could drive these prices as spoken about yesterday to the 9100 support area. If we push lower then a lower low forms and this downward channel negates an upward trend. For now its a bit neutral between BULLISH and BEARISH. The confirmation of the next few day, as cliche as it sounds, will confirm the market bias but more importantly its structure.
For us we are following Gold/ Silver markets and the world economy intently. Lets also keep in mind that Coronavirus will have a flow on effect to the Bitcoin through to the ALT coin markets. This is a whole topic in itself. Add to the the halving and we are in for a show. Be safe trading out their traders.
Support Levels: 9100 is Support
Resistance Levels: 9500 turns back into the Resistance area
Channel of Interest (marked with the yellow rectangle) The channel is confirmed. If price comes down to the 9100 area within the next 2 days we could break through to the low side.
🐃Bulls Verse Bears🐻
Bullish above 10500
Bearish below 6500
Bitcoin to Date:
Overall
Approximate Bitcoin Dominance: 63.6%
Approximate Bitcoin in Circulation: 18,237,513 BTC
Approximate Bitcoin Left to Mine: 2,762,488 BTC
Road to 21,000,000 Bitcoin Mined: 86.85%
Approximate Days Until Halving: 76-77Days
Daily
Current Price: $9336 USD
Daily Change %: +0.10%
Market Cap: $170,427,730,561.25 USD
24 Hour Volume: $42,546,592,879 USD
Population of the World: ~7,766,910,500+ humans
Bitcoin/World Population: ~ 0.002348103921115 Satoshi’s / $21.93 USD per person
Trading Quote
“The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless.” Jack Schwager – Author of Market Wizards
GOLD: $1,639.77 USD -7.13 -1.43% Gold has fallen $7 USD within the day.
For us we are following Gold/ Silver markets and the world economy intently. Lets also keep in mind that Coronavirus will have a flow on effect to the Bitcoin through to the ALT coin markets. This is a whole topic in itself. Add to the the halving and we are in for a show. Be safe trading out their traders.
Support Levels: 9100 is Support
Resistance Levels: 9500 turns back into the Resistance area
Channel of Interest (marked with the yellow rectangle) The channel is confirmed. If price comes down to the 9100 area within the next 2 days we could break through to the low side.
🐃Bulls Verse Bears🐻
Bullish above 10500
Bearish below 6500
Bitcoin to Date:
Overall
Approximate Bitcoin Dominance: 63.6%
Approximate Bitcoin in Circulation: 18,237,513 BTC
Approximate Bitcoin Left to Mine: 2,762,488 BTC
Road to 21,000,000 Bitcoin Mined: 86.85%
Approximate Days Until Halving: 76-77Days
Daily
Current Price: $9336 USD
Daily Change %: +0.10%
Market Cap: $170,427,730,561.25 USD
24 Hour Volume: $42,546,592,879 USD
Population of the World: ~7,766,910,500+ humans
Bitcoin/World Population: ~ 0.002348103921115 Satoshi’s / $21.93 USD per person
Trading Quote
“The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless.” Jack Schwager – Author of Market Wizards
GOLD: $1,639.77 USD -7.13 -1.43% Gold has fallen $7 USD within the day.
Comment:
Double Bottom Broken, watch to see market potentialy break support @ 9100. This may hold out for the days trading...
