Kryptochristian

πŸ€– #BTCLIVE - 29.09 πŸ€–

INDEX:BTCUSD   Bitcoin / U.S. Dollar
πŸ€– #BTCLIVE - 29.09 πŸ€–

TLDR:

Short-Term (-1 Day)
70:30- Bullish:Bearish

Mid-Term (1 Week+)
40:60
Bullish:Bearish

Long-Term (1 Month+)
60:40 - Bullish:Bearish

OVERVIEW:
All things looking relatively bullish over the next day or so for BTC - there is still some significant resistance to get through at $20.5k region with long term trendlines and high resistances volume . September close is notoriously bearish , so I still expect this to ring true. Expecting some very heavy volatility tomorrow with the options expiration. Ultimately my general thoughts are that we are going to track up to about $20.5k and then have a very heavy retracement from there - this could well extend well below $19k back to the $18.7k support. We are nearing the end of this daily Descending triangle so a big move is expected out of that, they are a a pretty bearish pattern and the weekly descending wedge also suggests that a $16k is still on the cards without invalidating the pattern. So in a nutshell don't commit too heavy to longs rn , we still need to break this 20DEMA in order to get any where and losing $19.1k and the 200EMA on the 1hr will likely see the start of the downward movement.


TECHNICAL ANALYSIS:

+BULLISH FACTORS:
+ Low overhead Volume to $20.5k
+ Flipped VWAP
+ FLIPPED 200 EMA 1H
+ Holding Daily Support
+ Bullish Divergence on the Daily
+ Descending Wedge on the Weekly
+ Volume is consolidating for breakout

BEARISH FACTORS:
- 20 DEMA proving tough resistance
- Overbought Rejection on Local Resistance
- Descending Triangle on the Daily
+ Local trendline resistance

NEWS:
Bull:
+ Senator Lummis calls out U.S. leaders to welcome Bitcoin as it β€˜can’t be stopped’
+πŸ‡¦πŸ‡ͺ UAE's Ministry of Economy opens headquarters in the #metaverse.
+ UK investors turn to Bitcoin as GBP weakens, new data shows
https://cryptopanic.com/news/16458396/UK...

Bear:
- Gary Gensler Speaking today

Volatility
* Powell speaking today at 3.15pm UK time
* Options expiration on tomorrow

MARKET SENTIMENT:

Fear & Greed Index - Sep 28, 2022:

Today: 20 (Extreme Fear)
Yesterday: 20 (Extreme Fear)

Avg . 1W: 22 😱
Avg . 2W: 22 😱
Avg . 1M: 23 😱
Avg . 2M: 28 😱
Avg . 3M: 27 😱
Avg . 6M: 23 😱
Avg . 1Y: 32 😣

πŸ”Έ #Bitcoin
Price: $19,116
24h Low: $18,903
24h High: $20,339
MC Change: -$1.2B (-0.3%)
Dominance: 37.7%

24h: -0.4%
7d: -2.3%
14d: -14.4%
30d: -4.8%
60d: -19.8%
200d: -51.6%
1y: -55.9%

$BTC #BTC @bitcoin #bitcoin

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