#BTCDAILY : 1 / 02 /21 Picture Perfect Pull Back

#BTCDAILY : 1 / 02 /21
Picture Perfect PullBack

Sell Wall
37k - 250 BTC

Buy Walls
$33.5k - 500 BTC
31K - 350BTC

Volume: Consolidating and Low building for a breakthrough in resistance

ALTS: Dominance Decreasing + Price Increasing = ALTs Increase

Local Support: $32k
Next Support: $29.2k

Local Resistance: $34,800
Next Resistance: $38,100

Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- BlackRock Institution - Confirm 2 funds joining BTC (- Ruffer institution joins the race with a $750m holding - Bullish ) - Bullish
- Biden formally accelerates the Stimulus of 1.9Trillion - Bullish AF
- Elon Musk Tweets BTC Hard at end of consolidation period - Bullish
- Gamestop Craziness could start t drive people away from stocks to Crypto - Bullish potential
- Over 15,200 Bitcoin was transferred out of Coinbase Pro in just one day.
This is likely the result of some huge over-the-counter deals made by institutional investors

Personal Opinion:

Everything is shaping up both very nicely for BTC and ALT's with a picture perfect trendline break to pullback happening. We have seen BTC respecting patterns and support/resistance very well - so this should be no different. Expecting a re-test of the $34.8k resistance to break if not then short term ranging.

Very bullish on BTC - currently with Dominance dropping and BTC rising this is a very good sign for USDT Pair ALT's.

Bullish on BTC