BTC DAILY: 4/11/20
Election Day
1HR: Bullish
4HR: Very Bullish
Daily: Very Bullish
Weekly: Very Bullish
Monthly: Very Strong Bullish
Overall: Very Bullish
Volatility: No major breakouts - respecting support and resistance zones.
Volume: Reducing volume likely due to awaiting election results
BTC Dominance: 64.80% expecting a fall to 64.23% before either a steep fall or breakup.
ALTS: Currently seeing a 2nd breakdown of support and expected further fall - very bearish market for ALTS
Local Support: $13,216
Next Support: $12,916
Local Resistance: $14,100
Next Resistance: $17,100 (Crazy right!)
Fundamentals:
-4th Nov. Elections today - Short-Term Volatility expected
-Stimulus Cheques - Potentially Very Bullish
- Hong Kong and China growing regulatory pressures - Very Bearish
Technical's:
- Recent Bullish RSI Divergence
- Strongly above 200EMA
- Bounce off Weekly Pivot
- Strong bearish candles
- Bearish Short-term correlation
- Bullish Trendlines
Personal Opinion:
Heavy bullish sentiment - expecting another retest of the 14k territory with an expectation to break it and hold above for a period of time. There may be a short press to 13.5k region to pick up some buying pressure although we are forming a pretty clear ascending triangle . if we lose the lower trendline though it could spell very bearish news and a tracking down to 12.7k quite quickly.
Election Day
1HR: Bullish
4HR: Very Bullish
Daily: Very Bullish
Weekly: Very Bullish
Monthly: Very Strong Bullish
Overall: Very Bullish
Volatility: No major breakouts - respecting support and resistance zones.
Volume: Reducing volume likely due to awaiting election results
BTC Dominance: 64.80% expecting a fall to 64.23% before either a steep fall or breakup.
ALTS: Currently seeing a 2nd breakdown of support and expected further fall - very bearish market for ALTS
Local Support: $13,216
Next Support: $12,916
Local Resistance: $14,100
Next Resistance: $17,100 (Crazy right!)
Fundamentals:
-4th Nov. Elections today - Short-Term Volatility expected
-Stimulus Cheques - Potentially Very Bullish
- Hong Kong and China growing regulatory pressures - Very Bearish
Technical's:
- Recent Bullish RSI Divergence
- Strongly above 200EMA
- Bounce off Weekly Pivot
- Strong bearish candles
- Bearish Short-term correlation
- Bullish Trendlines
Personal Opinion:
Heavy bullish sentiment - expecting another retest of the 14k territory with an expectation to break it and hold above for a period of time. There may be a short press to 13.5k region to pick up some buying pressure although we are forming a pretty clear ascending triangle . if we lose the lower trendline though it could spell very bearish news and a tracking down to 12.7k quite quickly.
