#BTCDAILY - 01.3.21
BreakOut 2: Confirmed (The Climb Begins)
Overview:
Breakout out of downward trend - looking to start challenging resistances - tough one at 48k breaking through will show big upward movement
SELL WALL
48k - 200 BTC
BUY WALL
N/A
VOLUME: Small breakout showing
Market Sentiment:
ALTS Increase
ALT Season
-BTC Price Up
-Dominance Down
-Alt Volume Up
Local Support: $45k
Next Support: $43k
Local Resistance: $48.1k
Next Resistance: $52.1k
Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- Crypto Reaches $1.7 Trillion As Bitcoin Eats into Gold - V. Bullish
- Stimulus expected top up no later than 14th March - Extremely Bullish
- BTC Breaks 1 Trillion Market Cap - Bullish
- USDT Settlement - Bullish
- End of Month Volatility Over - Bullish
- Google Finance lists Crypto - Bullish
- Could be Currency of Choice for international trade for CitiBank - Bullish
Personal Opinion:
Looking like the buy walls held strong over another bloody weekend - ALT's are starting to see the light - great for all of the folks out there using DCA Bots right now ; )
We have a confirmed breakout of the downward trend line and challenging this very tough 48k resistance - breaking through should see a very strong push up. My yesterday analysis predicteded that break out of this trend should see a 1 day push up towards and possibly testing the 52k region - I still think this is a possibility which hangs on getting through this 48k. A big bullish divergence has appeared - volume is starting to breakout too - in essence everything is looking bullish for BTC right now especially with fundamental dropping like bombs too
Long Term - 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
BreakOut 2: Confirmed (The Climb Begins)
Overview:
Breakout out of downward trend - looking to start challenging resistances - tough one at 48k breaking through will show big upward movement
SELL WALL
48k - 200 BTC
BUY WALL
N/A
VOLUME: Small breakout showing
Market Sentiment:
ALTS Increase
ALT Season
-BTC Price Up
-Dominance Down
-Alt Volume Up
Local Support: $45k
Next Support: $43k
Local Resistance: $48.1k
Next Resistance: $52.1k
Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- Crypto Reaches $1.7 Trillion As Bitcoin Eats into Gold - V. Bullish
- Stimulus expected top up no later than 14th March - Extremely Bullish
- BTC Breaks 1 Trillion Market Cap - Bullish
- USDT Settlement - Bullish
- End of Month Volatility Over - Bullish
- Google Finance lists Crypto - Bullish
- Could be Currency of Choice for international trade for CitiBank - Bullish
Personal Opinion:
Looking like the buy walls held strong over another bloody weekend - ALT's are starting to see the light - great for all of the folks out there using DCA Bots right now ; )
We have a confirmed breakout of the downward trend line and challenging this very tough 48k resistance - breaking through should see a very strong push up. My yesterday analysis predicteded that break out of this trend should see a 1 day push up towards and possibly testing the 52k region - I still think this is a possibility which hangs on getting through this 48k. A big bullish divergence has appeared - volume is starting to breakout too - in essence everything is looking bullish for BTC right now especially with fundamental dropping like bombs too
Long Term - 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
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.
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.