LandenInternational

Bitcoin APEX Of Potential Downside 'Doomage' w Bearish Dominance

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has broken down to under the 9k mark. In 24 minutes at market open on the daily will see P action back in the major downward channel / under the channels upper trend line . This is sitting in a crucial spot just below the inception point of the inner upward channel bottom line.

What does this mean?, well for strength bulls would want to have pushed above this region and start the week strong. The inverse may transpire with BTC entering the last week of may in a more bearish position thus not favourable for the bulls to start their crusade to 10k.

Also if remain in this area watch for the consolidation on the left. I’ll watch price action to see where the strength lies throughout the day.

Published chart is the 4 hourly. Have a stella trading week :)

Daily Chart:


See the link below for a more detailed weekly overview!

Bitcoin to Date
Daily
Current Price: $8992.1 USD
Daily Change %: -2.00%
Market Cap: $166,146,462,199.38 USD
24 Hour Volume: $31,411,922,463 USD
Population of the World: ~7,786,720,100+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361062265485 Satoshi’s / $21.23 USD per person

Overall
Approximate Bitcoin in Circulation: 18,384,931 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,615,069 BTC
Road to 21,000,000 Bitcoin Mined: 87.55%
Current Bitcoin Dominance: 67.09%

Tether overtakes XRP in Dom 3.56% Vs. 3.51%

📈Support & Resistance📉*
Support Levels
1st Support Zone: 8792.4
2nd Support Zone: 8364.4
3rd Support Zone: 7883.0

Resistance Levels:
1st Resistance Zone: 9630.8
2nd Resistance Zone: 9839.5
3rd Resistance Zone: 10321.3

Price Level Consideration
Approximate Days Until Halving: 1447 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: 8629.2
Weekly Open: 9667.4


Current Price Zone: ACCUMULATION ZONE

Biggest Bitcoin Transaction of the Day**
1. 🚨1,901 BTC ($16,904,758 USD) transferred from OKEx ➡️ Unknown Wallet 🚨
2. 🚨1,900 BTC ($17,234,421 USD) transferred from Unknown Wallet ➡️ OKEx 🚨
Largest Cryptocurrency Transaction Today:
🚨🚨1,327,200,000 VEST ($12,010,175 USD) transferred from Unknown Wallet ➡️ Unknown Wallet 🚨🚨
Gold***: $1,735.44 USD -0.76 -0.04%
Silver***: $17.21 USD -0.01 -0.05%

——————————————————————————————————
*📈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

Comments

Need to see buyers P action push above horizontal line / fill wick over the next day/few.
Reply
This is going to get ugly
Reply
@AlphaLM, not a good open... Alas a good market to trade short when presents.
Reply
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