Bulls In Hope To Resurface Through Upper Downward Channel

P action can be seen to be creating downward structure with lower lows and lower highs. Bulls need to push above the downward channel to attempted to reset this otherwise more sentiment goes against the Bulls as to why this market looks heavier in the bears favour. Note a test to the top of the downward channel could transpire (bulls will need to push hard like at 10k) otherwise the bears will swipe and push down as we’ve seen at higher levels the last 3 weeks. This is the last week of may, BTC show some strength…


Area of Interest
I’ll leave the lower high to lower low lines on here from the above picture depiction.. Bulls have reclaimed that bearish dominance move for now, nearly filling the previous candle wick. More strength needs to come soon as buyers need to push this market above 9100 ASAP breaking the downward channel on the way, maintaining momentum.

Watching to see if Bitcoin maintains structure here on the 4 hour print or gets caught and falters.

Bulls for strength need to:

For this and get back into inner upward channel to test 10k:

Other wise bears to break the low and downward structure completing:

Bitcoin to Date
Daily
Current Price: $8910.4 USD
Daily Change %: +2.32%
Market Cap: $163,744,882,770.00 USD
24 Hour Volume: $31,411,922,463 USD
Population of the World: ~7,786,938,000+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361094951571 Satoshi’s / $21.03 USD per person

Overall
Approximate Bitcoin in Circulation: 18,385,700 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,614,300 BTC
Road to 21,000,000 Bitcoin Mined: 87.55%
Current Bitcoin Dominance: 66.68%

Tether overtakes XRP in Dom 3.58% Vs. 3.50%

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

Resistance Levels:
1st Resistance Zone: 9203.7
2nd Resistance Zone: 9568.7
3rd Resistance Zone: 9821.4


Price Level Consideration
Approximate Days Until Halving: 1446 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. 🚨5000 BTC ($44,104,802 USD) transferred from Bitfinex ➡️ Unknown Wallet 🚨
2. 🚨2000 BTC ($17,589,796 USD) transferred from Bitfinex ➡️ Unknown Wallet 🚨
3. 🚨1964 BTC ($17,415,340 USD) transferred from OKEx ➡️ Unknown Wallet 🚨

Largest Cryptocurrency Transaction Today:
🚨 🚨5000 BTC ($44,104,802 USD) transferred from Bitfinex ➡️ Unknown Wallet 🚨 🚨

Gold***: $1,726.65 USD -9.58 -0.55%
Silver***: $17.10 USD -0.12 -0.70%

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*📈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