BTC DAILY: 0/11/20
Vaccine FUD/FOMO???
15M: Very Bearish
1HR: Bearish
4HR: Bullish
Daily: Very Bullish
Weekly: Bullish
Monthly: Very Strong Bullish
Overall: Very Bullish
Buy/Sell Wall: 1150 BTC buy wall appeared at $14.6k which could lead to a big testing wick to that zone before upward trend resumed
Volatility: Volatility expected over the coming 48 hours whilst markets respond to Bidens tax announcements etc, keep trades with smaller targets or larger stop-losses to accommodate dips.
Volume: Volume falling rapidly - likely waiting to see notable next market moves before action taken.
ALTS: Decreased over past 48 hours, expecting a trendline bounce here - outside of BTC volatility it should be good trading conditions
Local Support: $14,766
Next Support: $14,415
Local Resistance: $15,784
Next Resistance: $15,961
Fundamentals:
-Stimulus Cheques - Will drop soon after president is confirmed - hugely bullish news
- BTC Market cap overtakes PayPal's - Bullish
- COVID Vaccine roadmap - Very, Very Bearish
- Biden appointing Gary Gensler - Bullish
Technical' s:
- Bearish Weekly Pivot that has been lightly tested
- Strongly above 200EMA
- Bearish Engulfing Candle (not full closed yet)
- Bullish Short Term Correlation
- Bullish Trendlines
- Bullish Daily Pennant Formed
Personal Opinion:
A little bit of volatility coming in as expected the Vaccine has put even further volatility in there with alot of investors looking to invest back in Airlines and Travel companies whilst the share price are so low. Monies gotta come from somewhere - so BTC would have felt that, whether it continues though???
I see 2 main scenarios here, we can lose the current trend support in which case very likely to test the $14.6/$14.8 region and pick up some pretty big buy walls.
Maintain the daily bullish pennant and look to break back up to begin journey to ATH.
Vaccine FUD/FOMO???
15M: Very Bearish
1HR: Bearish
4HR: Bullish
Daily: Very Bullish
Weekly: Bullish
Monthly: Very Strong Bullish
Overall: Very Bullish
Buy/Sell Wall: 1150 BTC buy wall appeared at $14.6k which could lead to a big testing wick to that zone before upward trend resumed
Volatility: Volatility expected over the coming 48 hours whilst markets respond to Bidens tax announcements etc, keep trades with smaller targets or larger stop-losses to accommodate dips.
Volume: Volume falling rapidly - likely waiting to see notable next market moves before action taken.
ALTS: Decreased over past 48 hours, expecting a trendline bounce here - outside of BTC volatility it should be good trading conditions
Local Support: $14,766
Next Support: $14,415
Local Resistance: $15,784
Next Resistance: $15,961
Fundamentals:
-Stimulus Cheques - Will drop soon after president is confirmed - hugely bullish news
- BTC Market cap overtakes PayPal's - Bullish
- COVID Vaccine roadmap - Very, Very Bearish
- Biden appointing Gary Gensler - Bullish
Technical' s:
- Bearish Weekly Pivot that has been lightly tested
- Strongly above 200EMA
- Bearish Engulfing Candle (not full closed yet)
- Bullish Short Term Correlation
- Bullish Trendlines
- Bullish Daily Pennant Formed
Personal Opinion:
A little bit of volatility coming in as expected the Vaccine has put even further volatility in there with alot of investors looking to invest back in Airlines and Travel companies whilst the share price are so low. Monies gotta come from somewhere - so BTC would have felt that, whether it continues though???
I see 2 main scenarios here, we can lose the current trend support in which case very likely to test the $14.6/$14.8 region and pick up some pretty big buy walls.
Maintain the daily bullish pennant and look to break back up to begin journey to ATH.
