LandenInternational

Bitcoin’s Monthly Open Towards A Q2 Close

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We’re one month away from closing out Q2 to hit the halfway point in the year. Anyone else asking where this time has gone the last 5 months, 2020 wtf… :P

On the monthly P action has started the first few hour’s strongly closing last month with a positive candle print and it can be seen that bulls have the momentum as the battle of 10k isn’t seen.


Outer Perspective
Looking into the Daily chart we see that P action is above the outer downward channel . This month for strength, Bitcoin DOES NOT want to fall back into it as this keeps the momentum away from building into and through 10k. that momentum puuuuuush.


I was waiting for the confirmation of Price area as yesterday at a point bulls looked to push hard which a close higher would have transpired at todays open. Note: I wouldn’t have worried about this TL, as above would have closed with only 2 points of contact. However, with the close/open @ 9450ish makes this valid and a P spot to tap BTC on the head if reached above, this could be a sticky point.


Closer Perspective

Inner Perspective ( Daily Chart )

Area of Interest
P action needs to see Bulls pop back up into the upward channel, this isn’t a crucial spot just yet as the candle open has to open to the right of the last. So I’ll give it time to move and reassess as presently hasn’t given me any reason to move the channel line / Trend line as price action is being dynamic just yet. The structure is still intact.


Over the next week some critical positions to think about will be:

Price breaks above current P levels:
-Back into upward channel, good, and bulls could push into the APEX
-Need to watch the subtle trend line confirm as a battle zone until above can use as support to bounce into 10k
-The ATH Trend line each day is closing in lower and lower each day, this is a major area unless broken in next week as joins the APEX of the inner upward channel.
-10k, we saw what bears have done when try to push theres a large order block saying NO. Bulls need to dominate here.

Price breaks below current P levels:
-If P action succumbs to the suck of the out downward channel and falls below you and see we may break all the way to the 75% area and bears will lick lips.


Too much to cover in world economics at present which could have an inflow effect on BTC / Crypto so be aware as TA could shit itself with a rock of the boat.


Let’s Go, Happy Trading

Bitcoin to Date
Daily
Current Price: $9548.9 USD
Daily Change %: -1.24%
Market Cap: $173,210,719,148.13 USD
24 Hour Volume: $29,555,265,418 USD
Population of the World: ~7,788,310,100+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361342674324 Satoshi’s / $22.54 USD per person

Overall
Approximate Bitcoin in Circulation: 18,390,869 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,609,131 BTC
Road to 21,000,000 Bitcoin Mined: 87.58%
Current Bitcoin Dominance: 66.46%


📈Support & Resistance📉*
Support Levels
1st Support Zone: 9176.9
2nd Support Zone: 8767.1
3rd Support Zone: 8413.8

Resistance Levels:
1st Resistance Zone: 9752.9
2nd Resistance Zone: 10008.0
3rd Resistance Zone: 10407.2


Price Level Consideration
Approximate Days Until Halving: 1440 Days (Pending Timezone / Blocks Mined)
All Time High Half Way Point: 9942.5
Prominent High: 13767.4
Prominent Low: 3994.1

🐃 Bulls Verse Bears 🐻
🐃 Bullish Above: 10485.8
🐻 Bearish Below: 6474.1

Monthly & Weekly Opens
Monthly Open: 9447.2
Weekly Open: 9447.2


Current Price Zone: ACCUMULATION ZONE

Biggest Bitcoin Transaction of the Day**
1. 🚨3,500 BTC ($33,256,325 USD) transferred from Unknown Wallet ➡️ OKEx 🚨

Largest Cryptocurrency Transaction Today:
🚨🚨274,836 ETH ($64,910,347 USD) transferred from Unknown Wallet ➡️ Unknown Wallet 🚨🚨

Gold***: $1,737.33 USD +5.64 +0.33%
Silver***: $18.18 USD +0.32 +1.77%

——————————————————————————————————
*📈Support & Resistance📉: These are typically zones & not exact price levels depicted by the lines. Keep in mind that price may respect and repeatedly touch several times on smaller time frames.
**What you won’t see on exchanges: This is purely to reference that traders watching the charts are neglecting the ‘Transaction Sentiment’ of large (🐳 WHALE) transactions from wallet to wallet and OTC execution send transactions (new/old wallets). TIP: The amount/s transferred daily tells a story of flow to potential market dynamics that may transpire.
*** Personally I HODL Gold /Crypto over having a majority of Fiat currency 💸. Previously before trading crypto in 2015, Gold was one of my main charts thus I look at the price regularly comparative to Bitcoin .


Created & published by Des Landen
Landen International

Comments

Subtle trend line test
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