BTC DAILY : 5/1/21
Back in the money
Buy/Sell Walls:
$34550 - 11kBTC - Sell Wall
Volatility: Big Bullish movement - starting to consolidate
Volume: Consolidated and bounced up
Dominance -70 is the new 60!!! Comfortably below 70% for the time being with it starting to creep back up - watch your back ALTS.
ALTS: Be wary with ALTS as we near the ATH - over the next day or so BTC should range a little to giving ALTs a chance to catch up although be very wary as it pushes closer and beyond the ATH.
Local Support: $30k
Next Support: $28k
Local Resistance: $34.8k
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
- Greyscale removes XRP - Invests more in BTC, ETH, LTC, BCH - very bullish
- OneRiver - Largest BTC transaction (above $30k) - Bull run to continue
- OCC grants blockchain and stable coin transactions for banks - v.bullish
Personal Opinion:
Imo the fundamentals are leading the way today with the bullish sentiment for BTC - we have broken a very local resistance with ease and tracking up to the ATH where there will be a First rejection and then I foresee some possible ranging in between 32.3k to ATH but ultimately a heavy breakup.
I feel a stretch to $40k prior to 20th January where my personal top is unless there is any major news that comes to the table.
Please note the prediction line was drawn on when I was recording a live BTC update! Honest! lol
Back in the money
Buy/Sell Walls:
$34550 - 11kBTC - Sell Wall
Volatility: Big Bullish movement - starting to consolidate
Volume: Consolidated and bounced up
Dominance -70 is the new 60!!! Comfortably below 70% for the time being with it starting to creep back up - watch your back ALTS.
ALTS: Be wary with ALTS as we near the ATH - over the next day or so BTC should range a little to giving ALTs a chance to catch up although be very wary as it pushes closer and beyond the ATH.
Local Support: $30k
Next Support: $28k
Local Resistance: $34.8k
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
- Greyscale removes XRP - Invests more in BTC, ETH, LTC, BCH - very bullish
- OneRiver - Largest BTC transaction (above $30k) - Bull run to continue
- OCC grants blockchain and stable coin transactions for banks - v.bullish
Personal Opinion:
Imo the fundamentals are leading the way today with the bullish sentiment for BTC - we have broken a very local resistance with ease and tracking up to the ATH where there will be a First rejection and then I foresee some possible ranging in between 32.3k to ATH but ultimately a heavy breakup.
I feel a stretch to $40k prior to 20th January where my personal top is unless there is any major news that comes to the table.
Please note the prediction line was drawn on when I was recording a live BTC update! Honest! lol
