BTC DAILY : 2/1/21 $30k Rejection or $40k
BTC DAILY : 2/1/21
$30k Rejection or $40k
Technical' s
15M: Very Bullish
1HR: Very Bullish
4HR: Bullish
Daily: Bullish
Weekly: Very Strong Bullish
Monthly: Very Bullish
Overall: Very Bullish
Sell Wall
$30k-$30.1k - 1.5k BTC
This is quite large for focused amounts
Volatility: Low & Controlled ascent
Volume: Consolidating for big move breakout soon
Dominance - Breakout of the 71.49 resistance and rising - damagaing for ALTS
ALTS: Increasing BTC dominance and price is causing attention shifting to BTC - so ALT's will be stagnant - a big rejection at $30k will rekt them so be wary trading long's and even more so with leverage as there will be some wick stop hunters.
Local Support: $28.6k
Next Support: $27.8k
Local Resistance: $27, 500
Next Resistance: $N/A
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- $600 stimulus package will start filtering in - Hugely Bullish
- Coinbase going Public - Big eyes on Crypto
- Pro Crypto appointment at the SEC - V. Bullish
- XRP delisting from major exchanges (Coinbase/Okex/Crypto.com/bitfinex)- Bearish for Crypto
Biden Inauguration 20th Jan along with some "Dump Event" doing the rounds on trading channels - Bearish (Apparently)
- Tighter regulations on Private wallets being debated - Volatility
Personal Opinion:
Here we finally are at the 30K resistance as expected large sell walls building and building. IT would be a huge surprise if there isn't a large retrace to 28.6k in a very rapid descent here With Divergences, untested weeklys/monthlys, sell walls and psychological barriers then a retrace seems inevitable. That being said if it is broken and then here we go again into uncharted territory and $40k is not unreasonable to assume.
Prediction - $30k broken retrace to $28.6k and then to $27.6k. Possible bounce there although I think it will range until 20th January when there is a supposed large scale "Dump Event" and a few other factors going on!
Let us know your thoughts in the comments
$30k Rejection or $40k
Technical' s
15M: Very Bullish
1HR: Very Bullish
4HR: Bullish
Daily: Bullish
Weekly: Very Strong Bullish
Monthly: Very Bullish
Overall: Very Bullish
Sell Wall
$30k-$30.1k - 1.5k BTC
This is quite large for focused amounts
Volatility: Low & Controlled ascent
Volume: Consolidating for big move breakout soon
Dominance - Breakout of the 71.49 resistance and rising - damagaing for ALTS
ALTS: Increasing BTC dominance and price is causing attention shifting to BTC - so ALT's will be stagnant - a big rejection at $30k will rekt them so be wary trading long's and even more so with leverage as there will be some wick stop hunters.
Local Support: $28.6k
Next Support: $27.8k
Local Resistance: $27, 500
Next Resistance: $N/A
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- $600 stimulus package will start filtering in - Hugely Bullish
- Coinbase going Public - Big eyes on Crypto
- Pro Crypto appointment at the SEC - V. Bullish
- XRP delisting from major exchanges (Coinbase/Okex/Crypto.com/bitfinex)- Bearish for Crypto
Biden Inauguration 20th Jan along with some "Dump Event" doing the rounds on trading channels - Bearish (Apparently)
- Tighter regulations on Private wallets being debated - Volatility
Personal Opinion:
Here we finally are at the 30K resistance as expected large sell walls building and building. IT would be a huge surprise if there isn't a large retrace to 28.6k in a very rapid descent here With Divergences, untested weeklys/monthlys, sell walls and psychological barriers then a retrace seems inevitable. That being said if it is broken and then here we go again into uncharted territory and $40k is not unreasonable to assume.
Prediction - $30k broken retrace to $28.6k and then to $27.6k. Possible bounce there although I think it will range until 20th January when there is a supposed large scale "Dump Event" and a few other factors going on!
Let us know your thoughts in the comments
