BTC DAILY : 11/12/20
Curve Ball?
Technical' s
15M: Very Bearish
1HR: Very Bearish
4HR: Very Bearish
Daily: Very Bearish
Weekly: BULLISH
Monthly: BULLISH
Overall: BEARISH
Buy/Sell Wall:
Buys
17.5k - 632 BTC
17.2k - 529 BTC
16.5k - 588 BTC
16.2k - 886 BTC (Bounce expected here)
Volatility: High - Bearish. 4% drop in 24 hours continuation expected
ALTS: Looking like confirmed direction for BTC - ALT's volume will drain - lean towards Shorts
Local Support: $17,645
Next Support: $16,530
Local Resistance: $18,500
Next Resistance: $18,850
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution - Very Bearish (TBC 15 Dec)
- Microstrategy - Potential 400m investment into BTC - Bullish (Unlikely until next dip)
- G7 Summit Crypto Topic - Regulations - Bearish Short-Term/Bullish Long Term
- MassMutual Insurance Firm Buys $100 Million #Bitcoin ‘Insurance’ - Bullish
Personal Opinion:
What's this then? Is that a bottom double-bottom - last time we saw that there was a push to a new all time high!?!?
That being said - I remain bearish and if there is a retrace up I believe it will be following the "dashed" predicted line and not breach much higher that 18.8k.
Losing this 17.6k support will be a pretty rapid drop to $16.5k.
There are 3 plays in my opinion.
A) Lose 17.6k very soon and expressway to 16.5k
B) Range between 17.6k and 18.5k for a few days and then drop to 16.5k
C) Double bottom confirmed and push up to 19k with possible bullish push further (highly unlikely but possible)
My sentiments are with A and we are going to see aggressive sell offs - don't fall for this dip buy.
Curve Ball?
Technical' s
15M: Very Bearish
1HR: Very Bearish
4HR: Very Bearish
Daily: Very Bearish
Weekly: BULLISH
Monthly: BULLISH
Overall: BEARISH
Buy/Sell Wall:
Buys
17.5k - 632 BTC
17.2k - 529 BTC
16.5k - 588 BTC
16.2k - 886 BTC (Bounce expected here)
Volatility: High - Bearish. 4% drop in 24 hours continuation expected
ALTS: Looking like confirmed direction for BTC - ALT's volume will drain - lean towards Shorts
Local Support: $17,645
Next Support: $16,530
Local Resistance: $18,500
Next Resistance: $18,850
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution - Very Bearish (TBC 15 Dec)
- Microstrategy - Potential 400m investment into BTC - Bullish (Unlikely until next dip)
- G7 Summit Crypto Topic - Regulations - Bearish Short-Term/Bullish Long Term
- MassMutual Insurance Firm Buys $100 Million #Bitcoin ‘Insurance’ - Bullish
Personal Opinion:
What's this then? Is that a bottom double-bottom - last time we saw that there was a push to a new all time high!?!?
That being said - I remain bearish and if there is a retrace up I believe it will be following the "dashed" predicted line and not breach much higher that 18.8k.
Losing this 17.6k support will be a pretty rapid drop to $16.5k.
There are 3 plays in my opinion.
A) Lose 17.6k very soon and expressway to 16.5k
B) Range between 17.6k and 18.5k for a few days and then drop to 16.5k
C) Double bottom confirmed and push up to 19k with possible bullish push further (highly unlikely but possible)
My sentiments are with A and we are going to see aggressive sell offs - don't fall for this dip buy.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.