#BTCDAILY - 12 .3.21
Last Chance Saloon
Overview:
Rejection at ATH - holding support before big push to 60k
SELL WALL
N/A
BUY WALL
$54.5K - 12-BTC
VOLUME: Still getting lower and awaiting a big break out
Market Sentiment:
ALTS Bearish
-BTC Price Down
-Dominance Up
-Alt Volume Down
Local Support: $54.9k
Next Support: $53k
Local Resistance: $57.1k
Next Resistance: $58.1k
Top Fundamentals:
- $1.9T Stimulus Signed (Expected deposits to arrive by 13th/14th - Ultra-Bullish
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- Week Close above $50k - Bullish
- Could be Currency of Choice for international trade for CitiBank - Bullish
- Goldman-Sachs reopening BTC Desk Mid - March - Stimulus
- BTC back above $1Trillion - Super Bullish
- Digital Currency Group Announces Plan to Purchase Shares of Grayscale Bitcoin Trust - Bullish
Personal Opinion:
Short-Term
Hard rejection at ATH - following prediction very comfortably - expected accumulation on the $55k support. Deposits expected to drop over the weekend which is when expected inflow to BTC will begin. Breaking ATH over the weekend and likely testing 60k.
Long Term (Unchanged) - A target of $75k is on the cards coming in just after 14th March - please note that this line is not reflective of its movement in time or accurate path, just that I think that it will hit these lows and highs in this order
Last Chance Saloon
Overview:
Rejection at ATH - holding support before big push to 60k
SELL WALL
N/A
BUY WALL
$54.5K - 12-BTC
VOLUME: Still getting lower and awaiting a big break out
Market Sentiment:
ALTS Bearish
-BTC Price Down
-Dominance Up
-Alt Volume Down
Local Support: $54.9k
Next Support: $53k
Local Resistance: $57.1k
Next Resistance: $58.1k
Top Fundamentals:
- $1.9T Stimulus Signed (Expected deposits to arrive by 13th/14th - Ultra-Bullish
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- Week Close above $50k - Bullish
- Could be Currency of Choice for international trade for CitiBank - Bullish
- Goldman-Sachs reopening BTC Desk Mid - March - Stimulus
- BTC back above $1Trillion - Super Bullish
- Digital Currency Group Announces Plan to Purchase Shares of Grayscale Bitcoin Trust - Bullish
Personal Opinion:
Short-Term
Hard rejection at ATH - following prediction very comfortably - expected accumulation on the $55k support. Deposits expected to drop over the weekend which is when expected inflow to BTC will begin. Breaking ATH over the weekend and likely testing 60k.
Long Term (Unchanged) - A target of $75k is on the cards coming in just after 14th March - please note that this line is not reflective of its movement in time or accurate path, just that I think that it will hit these lows and highs in this order
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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.