Bitcoin ‘GOLD 2.0’ Overview
Coming into the Bitcoin halving with 5 days to go and the market nearly had fireworks, however couldn’t fully form the inner double top and push through and retraced $300 odd dollars back to the 9160 region. Price now has opened back below 9200 resistance to fight the upward battle again. Speaking of battles if price is to come into the triangle (See Point of Interest) we could see bouncey price action within this. Bulls will look to pop this area hard after testing it twice on the daily already.
Outer Perspective
The outer downward channel is still very much in play and as of last night has touched and tested the upper trend line 4 times. We could see a 5th test and pop in the next couple of days if we ride and break above 9200 again
Inner Perspective
The inner upward channel is holding price within the bounds above its mid point. As price has respected it since the 13th of March we will anticipate that market structure could continue within these areas. A break above 9200 and a test of the ‘Outer perspective’ could see some fire works play out.
Point of Interest
Let’s start with the Triangle dynamics which are made up of the 30th April daily candle high, 9200 Resistance, The outer downward channel upper trend line and the apex of the inner upward channel top line. This is a zone of play of interest that price could come into after another break of the 9200 resistance and ‘hit it’s head’ along the upper trend line. Already we have seen price try to form a double top, it nearly got there, but not to the level of the prior high as bears pushed back down. Look to retest with todays open below 9200. Gathering steam.
Support & Resistance
Support Levels
1st Support Zone: 8000
2nd Support Zone: 7400
3rd Support Zone: 6960
Resistance Levels:
1st Resistance Zone: 9200
2nd Resistance Zone: 9530
2nd Resistance Zone: 10401
Price Level Consideration
Approximate Days Until Halving: 5 Days* Pending Timezone
All Time High Half Way Point: 9942.5
Prominent High: 13767.4
Prominent Low: 3994.1
🐃 Bulls Verse Bears 🐻
🐃 Bullish above 10485.8
🐻 Bearish below 6474.1
Monthly & Weekly Opens
Monthly Open: 8629.2
Weekly Open: 8900.0
Current Price Zone: ACCUMULATION ZONE
Bitcoin to Date
Daily
Current Price: $9194 USD
Daily Change %: +2.55%
Market Cap: $168,210,291,830.00 USD
24 Hour Volume: $78,450,517,219 USD
Population of the World: ~7,782,720,000+ humans
Today’s Bitcoin Total / World Population: ~ 0.002359840133013 Satoshi’s / $21.69 USD per person
Overall
Approximate Bitcoin in Circulation: 18,365,975 BTC
Approximate Bitcoin Mined Last 24hr: 1,800 BTC
Approximate Bitcoin Left to Mine: 2,634,025 BTC
Road to 21,000,000 Bitcoin Mined: 87.46%
Current Bitcoin Dominance: 67.92%
Biggest Bitcoin Transaction of the Day
1.🚨2487 Bitcoin ($23,135,886 USD) transferred from Binance ➡️ Unknown Wallet
2.🚨2450 Bitcoin ($22,686,381 USD) transferred from Binance ➡️ Unknown Wallet
3. 🚨1585 Bitcoin ($14,769,257 USD) transferred from Binance ➡️ Unknown Wallet
GOLD:
Current Price: $1690.09 USD
Dollar Change: +$1.57 USD
Percentage Change +0.08%
Bitcoin to Gold Ratio: 5.3
Coming into the Bitcoin halving with 5 days to go and the market nearly had fireworks, however couldn’t fully form the inner double top and push through and retraced $300 odd dollars back to the 9160 region. Price now has opened back below 9200 resistance to fight the upward battle again. Speaking of battles if price is to come into the triangle (See Point of Interest) we could see bouncey price action within this. Bulls will look to pop this area hard after testing it twice on the daily already.
Outer Perspective
The outer downward channel is still very much in play and as of last night has touched and tested the upper trend line 4 times. We could see a 5th test and pop in the next couple of days if we ride and break above 9200 again
Inner Perspective
The inner upward channel is holding price within the bounds above its mid point. As price has respected it since the 13th of March we will anticipate that market structure could continue within these areas. A break above 9200 and a test of the ‘Outer perspective’ could see some fire works play out.
Point of Interest
Let’s start with the Triangle dynamics which are made up of the 30th April daily candle high, 9200 Resistance, The outer downward channel upper trend line and the apex of the inner upward channel top line. This is a zone of play of interest that price could come into after another break of the 9200 resistance and ‘hit it’s head’ along the upper trend line. Already we have seen price try to form a double top, it nearly got there, but not to the level of the prior high as bears pushed back down. Look to retest with todays open below 9200. Gathering steam.
Support & Resistance
Support Levels
1st Support Zone: 8000
2nd Support Zone: 7400
3rd Support Zone: 6960
Resistance Levels:
1st Resistance Zone: 9200
2nd Resistance Zone: 9530
2nd Resistance Zone: 10401
Price Level Consideration
Approximate Days Until Halving: 5 Days* Pending Timezone
All Time High Half Way Point: 9942.5
Prominent High: 13767.4
Prominent Low: 3994.1
🐃 Bulls Verse Bears 🐻
🐃 Bullish above 10485.8
🐻 Bearish below 6474.1
Monthly & Weekly Opens
Monthly Open: 8629.2
Weekly Open: 8900.0
Current Price Zone: ACCUMULATION ZONE
Bitcoin to Date
Daily
Current Price: $9194 USD
Daily Change %: +2.55%
Market Cap: $168,210,291,830.00 USD
24 Hour Volume: $78,450,517,219 USD
Population of the World: ~7,782,720,000+ humans
Today’s Bitcoin Total / World Population: ~ 0.002359840133013 Satoshi’s / $21.69 USD per person
Overall
Approximate Bitcoin in Circulation: 18,365,975 BTC
Approximate Bitcoin Mined Last 24hr: 1,800 BTC
Approximate Bitcoin Left to Mine: 2,634,025 BTC
Road to 21,000,000 Bitcoin Mined: 87.46%
Current Bitcoin Dominance: 67.92%
Biggest Bitcoin Transaction of the Day
1.🚨2487 Bitcoin ($23,135,886 USD) transferred from Binance ➡️ Unknown Wallet
2.🚨2450 Bitcoin ($22,686,381 USD) transferred from Binance ➡️ Unknown Wallet
3. 🚨1585 Bitcoin ($14,769,257 USD) transferred from Binance ➡️ Unknown Wallet
GOLD:
Current Price: $1690.09 USD
Dollar Change: +$1.57 USD
Percentage Change +0.08%
Bitcoin to Gold Ratio: 5.3
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.