BTC DAILY : 15/ 01 /21 Rage Against The Voting Machines

BTC DAILY : 15/ 01 /21
Rage Against The Voting Machines

Sell Walls
$39k - 150 BTC not huge but bigger interest than elsewhere
40.1k - 400BTC

Volatility: Looking very dumpy

Dominance - Dropped hard to 68.56

ALTS: Stabilising and Accumulation phase

Local Support: $36.6k
Next Support: $33.7k
Next Support (MAJOR): $30k.5k

Local Resistance: $38.4k
Next Resistance: $42k

Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- New $2000 Stimulus Package Potential - Hugely Bullish
- Coinbase going Public - Big eyes on Crypto
- Pro Crypto appointment at the SEC - V. Bullish
- Institutional Investment continues - Skybridge Capital ($182 million in December) / MassMutual ($100 million in December) / Guggenheim (up to 10% of its $5 billion macro fund).
- Christine Lagarde (European Central Bank ) calls BTC ‘Speculative Asset’ - Bearish
- Jeff Currie ‘Goldman Sachs’ called for more institutional investment to stabilise BTC - Neutral (Claims 1% 0f BTC held by financial institutions).
- Greyscale getting back cosy with BTC - Bullish
- Expected Riots at the Biden Inauguration, last time this happened BTC pumped - Bullish

Personal Opinion:

Two big trendlines in play now to guide in symmetrical triangle formation

Rolling on from yesterday:

Option 2 - Take a rejection here and fall back to 36.6k break and onwards to 33.7k (although at this stage is very very dangerous territory as a H&S will be forming) support and then onwards to ATH

Let me know what you think in the comments!