#BTCDAILY - 21.2.21 Dump? Sorry, not on the menu today
#BTCDAILY - 21.2.21
Dump? Sorry, not on the menu today
Overview:
Dump rejected - small consolidation with retest to 58k and another likely rejection before pushing up
SELL WALL
59.1k - 100BTC
BUY WALL
$55.1k - 150 BTC
VOLUME: Decreasing Consolidation > Larger move coming
BTC PRICE STABLE + BTC .D DECREASE = ALTS INCREASE
Local Support: $50.5k
Next Support: $48k
Local Resistance: $52.6k
Next Resistance: $53.7k
Top Fundamentals:
- $50k broken and held - Bullish
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
-Coinbase, readying for public listing, gets $77B valuation from Nasdaq private market - Bullish
-Blockchain.com raises $120 million to tackle growing institutional demand for Bitcoin - Bullish
- MicroStrategy Sells Off $1 Billion of Debt to Buy More Bitcoin
-World’s largest asset manager BlackRock confirms they’re looking into Bitcoin - V. Bullish
- British private jet firm says 19% of its tickets are bought via Bitcoin - Bullish
- Crypto Reaches $1.7 Trillion As Bitcoin Eats into Gold - V. Bullish
- JP Morgan Says It Would Offer Bitcoin if Client Demand Soars - Bullish
- Mastercard and Island Pay Launch World’s First Central Bank Digital Currency-Linked Card - V. Bullish
- Stimulus expected top up no later than 14th March - Extremely Bullish
- BTC Breaks 1 Trillion Market Cap - Bullish
Personal Opinion:
As per yesterdays analysis - there was an earlier rejection with a quick dump to 53.7k which as mentioned were some big buys just waiting to pick up any kind of dump at the moment. The market felt the dump in a more exaggerated fashion than normal - a lot to do with nervousness of high BTC price crashing and wiping the market out as well as it being the weekend with slightly lower and more volatile/reactive volume throughout.
Short term target - Dump rejected - small consolidation with retest to 58k and another likely rejection before pushing up
Long Term - A target of $75k is not on the cards coming in just after 14th March
Dump? Sorry, not on the menu today
Overview:
Dump rejected - small consolidation with retest to 58k and another likely rejection before pushing up
SELL WALL
59.1k - 100BTC
BUY WALL
$55.1k - 150 BTC
VOLUME: Decreasing Consolidation > Larger move coming
BTC PRICE STABLE + BTC .D DECREASE = ALTS INCREASE
Local Support: $50.5k
Next Support: $48k
Local Resistance: $52.6k
Next Resistance: $53.7k
Top Fundamentals:
- $50k broken and held - Bullish
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
-Coinbase, readying for public listing, gets $77B valuation from Nasdaq private market - Bullish
-Blockchain.com raises $120 million to tackle growing institutional demand for Bitcoin - Bullish
- MicroStrategy Sells Off $1 Billion of Debt to Buy More Bitcoin
-World’s largest asset manager BlackRock confirms they’re looking into Bitcoin - V. Bullish
- British private jet firm says 19% of its tickets are bought via Bitcoin - Bullish
- Crypto Reaches $1.7 Trillion As Bitcoin Eats into Gold - V. Bullish
- JP Morgan Says It Would Offer Bitcoin if Client Demand Soars - Bullish
- Mastercard and Island Pay Launch World’s First Central Bank Digital Currency-Linked Card - V. Bullish
- Stimulus expected top up no later than 14th March - Extremely Bullish
- BTC Breaks 1 Trillion Market Cap - Bullish
Personal Opinion:
As per yesterdays analysis - there was an earlier rejection with a quick dump to 53.7k which as mentioned were some big buys just waiting to pick up any kind of dump at the moment. The market felt the dump in a more exaggerated fashion than normal - a lot to do with nervousness of high BTC price crashing and wiping the market out as well as it being the weekend with slightly lower and more volatile/reactive volume throughout.
Short term target - Dump rejected - small consolidation with retest to 58k and another likely rejection before pushing up
Long Term - A target of $75k is not on the cards coming in just after 14th March
