BTC DAILY : 12/01/21 Should I Stay Or Should I FOMO?
BTC DAILY : 12/01/21
Should I Stay Or Should I FOMO?
Technical' s
5MIN: SELL
15MIN : SELL
1HR: SELL
4HR: SELL
1 DAY: BUY
1 WEEK: BUY
1 MONTH: BUY
Sell Walls
-
Buy Wall
28k to 30k - 3k BTC - Expected a large rejection here if dumps again
Volatility: Releaxed over past 24 hours and (fingers crossed is starting to accumulate bullishly again)
Dominance - Sub 70% which is good news although recent rise in Dom and drop in price which is bad news for rest of markets
ALTS: Recent Dom increase and BTC price drop is bad news for ALTS stabilisation here needed before over committing again in ALT markets
Local Support: $34.7k
Next Support: $34.8k
Next Support$30.5k
Local Resistance: $36.6k
Next Resistance: $48.4k
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).
- A lot of media negativity being spread on BTC in UK and USA - Bearish
- Institutions not fazed by dump - bullish
Personal Opinion:
BTC is looking unpredictable - we are sat on a support with a lot of recent downward pressure. IT has bounced and held relatively well from the $30k region which is signifying alot of buy pressure - the strong Buy Walls around the 30k region is encouraging for another saftey net now should we lose this support at 34.8k .
There is a loose Head and Shoulders on the 1hr but I would not put my money on this - the 2 outcomes are we will lose this support and start to test 30k again.
Or similar to before there will start to be quite a rapid sustained drive back up to likely start testing the ATH again once accumulation is over.
No commitment to direction from me today.
Should I Stay Or Should I FOMO?
Technical' s
5MIN: SELL
15MIN : SELL
1HR: SELL
4HR: SELL
1 DAY: BUY
1 WEEK: BUY
1 MONTH: BUY
Sell Walls
-
Buy Wall
28k to 30k - 3k BTC - Expected a large rejection here if dumps again
Volatility: Releaxed over past 24 hours and (fingers crossed is starting to accumulate bullishly again)
Dominance - Sub 70% which is good news although recent rise in Dom and drop in price which is bad news for rest of markets
ALTS: Recent Dom increase and BTC price drop is bad news for ALTS stabilisation here needed before over committing again in ALT markets
Local Support: $34.7k
Next Support: $34.8k
Next Support$30.5k
Local Resistance: $36.6k
Next Resistance: $48.4k
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).
- A lot of media negativity being spread on BTC in UK and USA - Bearish
- Institutions not fazed by dump - bullish
Personal Opinion:
BTC is looking unpredictable - we are sat on a support with a lot of recent downward pressure. IT has bounced and held relatively well from the $30k region which is signifying alot of buy pressure - the strong Buy Walls around the 30k region is encouraging for another saftey net now should we lose this support at 34.8k .
There is a loose Head and Shoulders on the 1hr but I would not put my money on this - the 2 outcomes are we will lose this support and start to test 30k again.
Or similar to before there will start to be quite a rapid sustained drive back up to likely start testing the ATH again once accumulation is over.
No commitment to direction from me today.
