Volatility: Volatility below average and descending - consolidating. Resistance rejection expected incoming
ALTS: BTC Dom DOWN + BTC Price STABLE = ALTS Stable > Increase
Local Support: 32.2k Next Support: 30.5k Next Support: (MAJOR): 28.8k
Local Resistance: 33.7k Next Resistance: 35.7k
Top 5 Fundamentals: - Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish - $2000 Stimulus Package Potential - Will Biden accelrate now - Hugely Bullish - Greyscale starting to realise BTC Profit - Bearish - BlackRock Institution - Confirm 2 funds joining BTC (- Ruffer institution joins the race with a 750m holding - Bullish ) - Bullish - Biden pus hold on Trumps Private Crypto Wallet information sharing - Bullish
Personal Opinion: Breaking down on support out of the symmetrical triangle brought heavy downside with a strong bounce at the 28.5k support helping form a bullish butterfly / gartley .
Currently pulling back to the 33.7k support (now resistance) which it has been stopped at with a possible rejection further back down.
My key prediction is to be rejected here at 30.5k and then to revisit the 28k region.
Weekend volatility will play a big part over the coming 48 hours.