Bitcoin Entering Last Week Of May, Weekly Take

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
With around one week of trading to close out May, this ’may’be the week for Bitcoin to pop above 10k. So may the force be with you BTC >>>

Outer Perspective
Coming into Mondays weekly close/open the monthly looks to print positive which traders will look to keep in the green however some work from the bulls be done so they both print green. You have to understand that there are macro and micro traders looking from different perspectives on different timeframes into the week/months close.



Inner Perspective ( Daily Chart )
Weekly considerations of Price as shown individually

Downward channel:
Yes, price is currently above, however if bears come in with force the price zone may range bound the P action.

Inner upward Channel:
As writing price remains above this level, described previously as sitting on a perch meaning P action needs to decide to stay sitting , fly up or dive down.

ATH half way price point / 10k Whole Number:
Since the 6th of May P action has tested the ATH half way price point and the 10k big number. And its had sellers push with a lot of sell pressure. Bulls need to gather the drops and pull out some larger orders together to get through this.

Trend Lines:
As price ticks along this week the major trend line from the ATH may come into play so watch how price reacts around this zone if comes within.

See also Support and Resistance and Price considerations below

Area of Interest
P action still perched above and trickling along the downward channels upper trend line , whilst holding form within the the inner upward channel.

Bulls need to stay above this for the weeks trading to have any hope of penetrating the highs through 10k also a fall below may see the bears push to the 75% P zone, however a stall might consume price with the previous consolidation areas fought before.

Have a stella trading week :)

Excuse the opposite candle colours on some previous posts, rectified now :P

Bitcoin to Date
Current Price: $9238.9 USD
Daily Change %: +0.84%
Market Cap: $169,849,981,713.83 USD
24 Hour Volume: $27,550,446,308 USD
Population of the World: ~7,786,488,488+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361033863767 Satoshi’s / $21.81 USD per person

Approximate Bitcoin in Circulation: 18,384,163 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,615,838 BTC
Road to 21,000,000 Bitcoin Mined: 87.54%
Current Bitcoin Dominance: 67.58%

📈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: 1448 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


Biggest Bitcoin Transaction of the Day**
Nothing major seen to report about.

Largest Cryptocurrency Transaction Today:
🚨🚨30,000,000 USDT ($30,081,306 USD) transferred from Tether Treasury ➡️ Binance🚨🚨

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


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