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!