#BTCDAILY : 25 / 01 /21 Pressure Cooker

#BTCDAILY : 25 / 01 /21
Pressure Cooker

Sell Walls
$37.6k - 300BTC
$35.6k - 200 BTC

Volatility: Consolidation on volume gearing up for large move

ALTS: BTC Dom UP + BTC Price UP = ALTS DECREASING (READY FOR PUMP)

Local Support: $31k
Next Support: $38.8k

Local Resistance: $35.7k
Next Resistance: $37.9k

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 Stimuls of 1.9Trillion - Bullish AF
- Marathon Institution joins the race with $150m BTC - Bullish

Personal Opinion:
Attempt to breakout of consolidation triangle to get rejected at the 50% Fib and resistance - drop down to 32k or possibly 30k to continue with the consolidation ranging. It should coincide with Stimulus launch and possible further institution money.

Short Term drop and then long term big pump to potential see ATH again.