BTC DAILY : 2/12/20 "B - Day" - 3rd times a Charm
BTC DAILY : 2/12/20
"B - Day" - 3rd times a Charm
Technical' s
15M: BULLISH
1HR: VERY BULLISH
4HR: VERY BULLISH
Daily: BULLISH
Weekly: VERY BULLISH
Monthly: VERY BULLISH
Overall: VERY BULLISH
Buy/Sell Wall: A lot of selling pressure all the way up to $20k with a decent Buy wall at $19k and then pretty much free fall to $18.2k if that breaks
Volatility: Extremely erratic volatility at the moment, rocky trading condtions
ALTS: Due to big BTC volatility - extremely risky ALT trading conditions. Keep targets small and leverage smaller. BTC Dominance is at 63.42 strongly consolidating. Total ALT volume has been steadily rising during this period. On paper good ALT trading conditions.
Local Support: $19,000
Next Support: $18,000
Local Resistance: $19,400
Next Resistance: $19,860
Fundamentals:
- PayPal/Square - Continually buying all mined BTC spiking price - Very Bullish - Announced integration with VISA - Ultra Bullish - Guggenheim Partners (200bn plus asset managers) allocate capital (up to $500m) to crypto - Very Bullish - Grayscale Bitcoin Trust continues buying BTC ($140m just this week) - Very Bullish
Personal Opinion:
All of the pieces are in place now to see this break up from a fundamental stand point although the technical side is still looking extremely uncertain. It is crunch time now over the next 24 hours with the 3rd re-test coming up - and this will show us a break out up or down. There is a concerning amount of sell walls all the way up to 20k so my faith in us hitting $20k just is not there this time I solely hope I am wrong and for that reason I am going to be bullish on it and put all my faith in that nice new trendline and PayPal.
Bitcoin to $21k
"B - Day" - 3rd times a Charm
Technical' s
15M: BULLISH
1HR: VERY BULLISH
4HR: VERY BULLISH
Daily: BULLISH
Weekly: VERY BULLISH
Monthly: VERY BULLISH
Overall: VERY BULLISH
Buy/Sell Wall: A lot of selling pressure all the way up to $20k with a decent Buy wall at $19k and then pretty much free fall to $18.2k if that breaks
Volatility: Extremely erratic volatility at the moment, rocky trading condtions
ALTS: Due to big BTC volatility - extremely risky ALT trading conditions. Keep targets small and leverage smaller. BTC Dominance is at 63.42 strongly consolidating. Total ALT volume has been steadily rising during this period. On paper good ALT trading conditions.
Local Support: $19,000
Next Support: $18,000
Local Resistance: $19,400
Next Resistance: $19,860
Fundamentals:
- PayPal/Square - Continually buying all mined BTC spiking price - Very Bullish - Announced integration with VISA - Ultra Bullish - Guggenheim Partners (200bn plus asset managers) allocate capital (up to $500m) to crypto - Very Bullish - Grayscale Bitcoin Trust continues buying BTC ($140m just this week) - Very Bullish
Personal Opinion:
All of the pieces are in place now to see this break up from a fundamental stand point although the technical side is still looking extremely uncertain. It is crunch time now over the next 24 hours with the 3rd re-test coming up - and this will show us a break out up or down. There is a concerning amount of sell walls all the way up to 20k so my faith in us hitting $20k just is not there this time I solely hope I am wrong and for that reason I am going to be bullish on it and put all my faith in that nice new trendline and PayPal.
Bitcoin to $21k
