Bitcoin Channel’s VALID = In Play. BTC Halving T-minus Hours
Bitcoin ‘GOLD 2.0’ Overview
Since March Bitcoin has risen +114% / +$4572. - to date, yet yesterdays price action is the talk of the town as a drop of $1450 in less than 15 minutes is significant with 100’s of millions in liquidations. Remember where price has come from as it can’t just simply go ^^^ UP ^^^. Price was slammed back into the downward channel hitting the inner upward channels lower trend line retracing to todays open. Today I dive in and see where price action could travel this week considering halving is in less than 24 hours!!!! Here’s the weekly overview;
Outer Perspective (Weekly Chart)
WEEKLY CANDLE CLOSED NEGATIVE. This time yesterday in ‘trading world’ it looked as if the market was setting up to test the whole number of 10,000 and close the weekly candle positive… Then liquidations. It’s crucial to understand that one spike up or down can recalibrate the market yet traders will often overlook as to what transpired prior when TA’ing their charts (market these events in your trading notes/journal). Thus we find price respecting the inner upward channel and retesting the low. This also coincides with entering the downward channel and finding the 3/4 point as support.
Inner Perspective (Daily Chart)
Support & Resistance has been reshuffled (see below for zones) and with the significant drop. Key points on the Daily to watch in the coming days is the hold of price action and to see where it travels. Taking the halving out of account and focusing on the prior price action (within the Rectangle) we’ve been here before with 7 candles printing in this price zone (outlined in area of interest more evidently), thus could respond as an era of comfort.
Area of Interest (4 Hour Chart)
Recapping: Back in Downward Channel at the 3/4 area, retested low and at 1/4 area of the inner upward channel, opening and styled (at present) at a level that price has had 7 days of consolidation. My focus of interest is on the range of price action within this triangle and to watch Bitcoin shake off yesterdays movement.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 8441.6
2nd Support Zone: 8159.3
3rd Support Zone: 7734.0
Resistance Levels:
1st Resistance Zone: 9172.9
2nd Resistance Zone: 9567.4
3rd Resistance Zone: 9987.7
Price Level Consideration
Approximate Days Until Halving: 1 Day* 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: 8721.5
Current Price Zone: ACCUMULATION ZONE
Bitcoin to Date
Daily
Current Price: $8752.8 USD
Daily Change %: -8.57%
Market Cap: $160,663,153,875.19 USD
24 Hour Volume: $96,711,133,437 USD
Population of the World: ~7,783,610,000+ humans
Today’s Bitcoin Total / World Population: ~ 0.002360495322864 Satoshi’s / $20.66 USD per person
Overall
Approximate Bitcoin in Circulation: 18,373,175 BTC
Approximate Bitcoin Mined Last 24hr: 1,800 BTC
Approximate Bitcoin Left to Mine: 2,626,825 BTC
Road to 21,000,000 Bitcoin Mined: 87.49%
Current Bitcoin Dominance: 68.17%
Biggest Bitcoin Transaction of the Day**
1.🚨2,000 Bitcoin ($17,625,691 USD) transferred from Unknown Wallet ➡️ Binance
2.🚨1,743 Bitcoin ($15,142,622 USD) transferred from OKEx ➡️ Unknown Wallet
3. 🚨1,500 Bitcoin ($13,148,702 USD) transferred from Unknown Wallet ➡️ OKEx
Largest Cryptocurrency Transaction Today:
🚨🚨60,000,000 USDT ($59,910,383 USD) transferred from Unknown Wallet ➡️ Binance🚨🚨
Gold***: $1,706.26 USD +$1.62 +0.10%
Silver***: $15.56 USD +0.11 +0.73%
——————————————————————————————————
*📈Support & Resistance📉: These are typically zones & not exact price levels depicted by the lines. Keep in mind that price may respect and repeatedly touch several times on smaller time frames.
**What you won’t see on exchanges: This is purely to reference that traders watching the charts are neglecting the ‘Transaction Sentiment’ of large (🐳 WHALE) transactions from wallet to wallet and OTC execution send transactions (new/old wallets). TIP: The amount/s transferred daily tells a story of flow to potential market dynamics that may transpire.
*** Personally I HODL Gold/Crypto over having a majority of Fiat currency 💸. Previously before trading crypto in 2015, Gold
Since March Bitcoin has risen +114% / +$4572. - to date, yet yesterdays price action is the talk of the town as a drop of $1450 in less than 15 minutes is significant with 100’s of millions in liquidations. Remember where price has come from as it can’t just simply go ^^^ UP ^^^. Price was slammed back into the downward channel hitting the inner upward channels lower trend line retracing to todays open. Today I dive in and see where price action could travel this week considering halving is in less than 24 hours!!!! Here’s the weekly overview;
Outer Perspective (Weekly Chart)
WEEKLY CANDLE CLOSED NEGATIVE. This time yesterday in ‘trading world’ it looked as if the market was setting up to test the whole number of 10,000 and close the weekly candle positive… Then liquidations. It’s crucial to understand that one spike up or down can recalibrate the market yet traders will often overlook as to what transpired prior when TA’ing their charts (market these events in your trading notes/journal). Thus we find price respecting the inner upward channel and retesting the low. This also coincides with entering the downward channel and finding the 3/4 point as support.
Inner Perspective (Daily Chart)
Support & Resistance has been reshuffled (see below for zones) and with the significant drop. Key points on the Daily to watch in the coming days is the hold of price action and to see where it travels. Taking the halving out of account and focusing on the prior price action (within the Rectangle) we’ve been here before with 7 candles printing in this price zone (outlined in area of interest more evidently), thus could respond as an era of comfort.
Area of Interest (4 Hour Chart)
Recapping: Back in Downward Channel at the 3/4 area, retested low and at 1/4 area of the inner upward channel, opening and styled (at present) at a level that price has had 7 days of consolidation. My focus of interest is on the range of price action within this triangle and to watch Bitcoin shake off yesterdays movement.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 8441.6
2nd Support Zone: 8159.3
3rd Support Zone: 7734.0
Resistance Levels:
1st Resistance Zone: 9172.9
2nd Resistance Zone: 9567.4
3rd Resistance Zone: 9987.7
Price Level Consideration
Approximate Days Until Halving: 1 Day* 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: 8721.5
Current Price Zone: ACCUMULATION ZONE
Bitcoin to Date
Daily
Current Price: $8752.8 USD
Daily Change %: -8.57%
Market Cap: $160,663,153,875.19 USD
24 Hour Volume: $96,711,133,437 USD
Population of the World: ~7,783,610,000+ humans
Today’s Bitcoin Total / World Population: ~ 0.002360495322864 Satoshi’s / $20.66 USD per person
Overall
Approximate Bitcoin in Circulation: 18,373,175 BTC
Approximate Bitcoin Mined Last 24hr: 1,800 BTC
Approximate Bitcoin Left to Mine: 2,626,825 BTC
Road to 21,000,000 Bitcoin Mined: 87.49%
Current Bitcoin Dominance: 68.17%
Biggest Bitcoin Transaction of the Day**
1.🚨2,000 Bitcoin ($17,625,691 USD) transferred from Unknown Wallet ➡️ Binance
2.🚨1,743 Bitcoin ($15,142,622 USD) transferred from OKEx ➡️ Unknown Wallet
3. 🚨1,500 Bitcoin ($13,148,702 USD) transferred from Unknown Wallet ➡️ OKEx
Largest Cryptocurrency Transaction Today:
🚨🚨60,000,000 USDT ($59,910,383 USD) transferred from Unknown Wallet ➡️ Binance🚨🚨
Gold***: $1,706.26 USD +$1.62 +0.10%
Silver***: $15.56 USD +0.11 +0.73%
——————————————————————————————————
*📈Support & Resistance📉: These are typically zones & not exact price levels depicted by the lines. Keep in mind that price may respect and repeatedly touch several times on smaller time frames.
**What you won’t see on exchanges: This is purely to reference that traders watching the charts are neglecting the ‘Transaction Sentiment’ of large (🐳 WHALE) transactions from wallet to wallet and OTC execution send transactions (new/old wallets). TIP: The amount/s transferred daily tells a story of flow to potential market dynamics that may transpire.
*** Personally I HODL Gold/Crypto over having a majority of Fiat currency 💸. Previously before trading crypto in 2015, Gold
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