BTC DAILY : 18/12/20 - The New Normal - CryptoNicho
Chart Analysis & Idea by CryptoNicho
BTC DAILY : 18/12/20
The New Normal
Technical' s
15M: Bearish
1HR: Bearish
4HR: Bullish
Daily: Bullish
Weekly: Bullish
Monthly: Bullish
Overall: Bullish
Buy/Sell Wall: Buy for 800BTC at 2000, no significant Sell Wall formed.
ALTS: BTC dominance decreasing giving ALTs room to rise, excellent trading conditions.
Local Support: $22,310
Next Support: $20,554
Local Resistance: $23,800
Next Resistance: $25,000 (?)
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed - Not immediately Bearish
- Microstrategy - Potential 400m investment into BTC - Bullish (Unlikely until next dip)
- MassMutual Insurance Firm Buys $100 Million #Bitcoin ‘Insurance’ - Bullish
- UK FCA Grants Crypto Firms Temporary Registration as It Deals With Applications Backlog - Bullish
- Ruffer LLP allocates $744m to BTC - Very Bullish
- AMEX - Investment in crypto platform FalconX now over $30m - Bullish
- One River Asset Management creates One River Digital to invest $600m in Crypto - Very Bullish
Personal Opinion:
Amazing how quickly you can get used to things, seeing BTC sit comfortably over $22k for over 24 hours now I can barely imagine a world in which it could be worth less.
Luckily whilst BTC seems content to consolidate for the time being the technicals indicate further growth and not a correction.
Firstly we have buying pressure waiting around $20k as well a bullish pennant forming around the price bounces in the lower time frame charts. Add the home for the holiday FOMO and I’d anticipate a serious retest of $23,800 over the next 24 hours.
Let me know what you guys think in the comments!
BTC DAILY : 18/12/20
The New Normal
Technical' s
15M: Bearish
1HR: Bearish
4HR: Bullish
Daily: Bullish
Weekly: Bullish
Monthly: Bullish
Overall: Bullish
Buy/Sell Wall: Buy for 800BTC at 2000, no significant Sell Wall formed.
ALTS: BTC dominance decreasing giving ALTs room to rise, excellent trading conditions.
Local Support: $22,310
Next Support: $20,554
Local Resistance: $23,800
Next Resistance: $25,000 (?)
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed - Not immediately Bearish
- Microstrategy - Potential 400m investment into BTC - Bullish (Unlikely until next dip)
- MassMutual Insurance Firm Buys $100 Million #Bitcoin ‘Insurance’ - Bullish
- UK FCA Grants Crypto Firms Temporary Registration as It Deals With Applications Backlog - Bullish
- Ruffer LLP allocates $744m to BTC - Very Bullish
- AMEX - Investment in crypto platform FalconX now over $30m - Bullish
- One River Asset Management creates One River Digital to invest $600m in Crypto - Very Bullish
Personal Opinion:
Amazing how quickly you can get used to things, seeing BTC sit comfortably over $22k for over 24 hours now I can barely imagine a world in which it could be worth less.
Luckily whilst BTC seems content to consolidate for the time being the technicals indicate further growth and not a correction.
Firstly we have buying pressure waiting around $20k as well a bullish pennant forming around the price bounces in the lower time frame charts. Add the home for the holiday FOMO and I’d anticipate a serious retest of $23,800 over the next 24 hours.
Let me know what you guys think in the comments!
