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Bitcoin Case For Downward Move, Bulls Need To Break Structure

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Focusing on candle stick structure, Bulls need to break the swing high at 9300. The longer they stay in this price zone of 8800 within the downward channel the less strength they'll have. A break above 9000 is needed this week to compete and salvage lost ground to 10k.


To the downside if P action breaks 8600, watch for downside to fill the wicks from May 11th.


On the 4 hourly this could be the high before a drop further down to break 9600.


Bitcoin to Date
Daily
Current Price: $8831 USD
Daily Change %: -0.75%
Market Cap: $162,379,822,781.25 USD
24 Hour Volume: $29,505,471,890 USD
Population of the World: ~7,787,160,500+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361062265485 Satoshi’s / $21.23 USD per person

Overall
Approximate Bitcoin in Circulation: 18,386,438 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,613,563 BTC
Road to 21,000,000 Bitcoin Mined: 87.55%
Current Bitcoin Dominance: 66.63%

Tether 3.61% battle XRP 3.51% in Dom


📈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: 1445 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. 🚨2,913 BTC ($25,387,658 USD) transferred from Binance ➡️ XAPO 🚨
2. 🚨2,141 BTC ($18,665,376 USD) transferred from XAPO ➡️ Unknown Wallet 🚨
3. 🚨1,140 BTC ($17,415,340 USD) transferred from Unknown Wallet ➡️ XAPO 🚨

Largest Cryptocurrency Transaction Today:
🚨🚨20,000,000 FTT ($55,994,899 USD) transferred from Unknown Wallet ➡️ Unknown Wallet 🚨 🚨

Gold***: $1,711.32 USD -15.32 -0.89%
Silver***: $17.10 USD 0.00 -0.02%

——————————————————————————————————
*📈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

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