BTC DAILY: 25/11/20 - Once more unto the breach….
BTC DAILY: 25/11/20
Once more unto the breach….
15M: V. Bullish
1HR: V. Bullish
4HR: V. Bullish
Daily: V Bullish
Weekly: V. Bullish
Monthly: V. Bullish
Overall: V. Strong Bullish
Buy/Sell Wall: Buy wall formed at $19,130, Sell wall at $19,390.
Volatility: Yesterday tested $19,400, re-test underway = volatility incoming either from rejection or break.
ALTS: BTC dominance dropped below 61% briefly yesterday but rallied to around 62.% as flow of funds into alts slowed. Potential BTC spikes make ALT trading risky today so monitor your open trades.
Local Support: $18,000
Next Support: $17,624
Local Resistance: $19,416
Next Resistance: $20,000
Fundamentals:
-Stimulus Cheques - Uncertainty now with Vaccine.
- 2nd Wealthiest Person In Mexico has 10% of holding in BTC now - V. Bullish commitment
- PayPal/Square - Continually buying all mined BTC spiking price - Very Bullish
- Financial Institutions continued buying - Bullish
- Front Page Wall Street Journal - Very Bullish
- Announced integration with VISA - Ultra Bullish
Technical' s:
- Weekly Pivot no longer bearish
- Future Pivot no longer bearish
- Strongly above 200EMA
- Upwards Trendline support
- Bullish candles to start the day
Personal Opinion:
We’re going to $20,000 (or thereabouts!), yesterday’s mini rejection at $19,400 brought an almost immediate rally. We’re so confident that we longed bitcoin at $19,100!
At 20k? A sell off probably. We know long hodled coins are finding their way to the market at an increasing rate and as 20k is such a key target a rejection feels inevitable. We have no doubt though that the buying pressure exists to re-test 20k the only question we have is how long a re-test takes, will the buy back be swift or will the institutional money allow for a big fall before re-accumulating.
Once more unto the breach….
15M: V. Bullish
1HR: V. Bullish
4HR: V. Bullish
Daily: V Bullish
Weekly: V. Bullish
Monthly: V. Bullish
Overall: V. Strong Bullish
Buy/Sell Wall: Buy wall formed at $19,130, Sell wall at $19,390.
Volatility: Yesterday tested $19,400, re-test underway = volatility incoming either from rejection or break.
ALTS: BTC dominance dropped below 61% briefly yesterday but rallied to around 62.% as flow of funds into alts slowed. Potential BTC spikes make ALT trading risky today so monitor your open trades.
Local Support: $18,000
Next Support: $17,624
Local Resistance: $19,416
Next Resistance: $20,000
Fundamentals:
-Stimulus Cheques - Uncertainty now with Vaccine.
- 2nd Wealthiest Person In Mexico has 10% of holding in BTC now - V. Bullish commitment
- PayPal/Square - Continually buying all mined BTC spiking price - Very Bullish
- Financial Institutions continued buying - Bullish
- Front Page Wall Street Journal - Very Bullish
- Announced integration with VISA - Ultra Bullish
Technical' s:
- Weekly Pivot no longer bearish
- Future Pivot no longer bearish
- Strongly above 200EMA
- Upwards Trendline support
- Bullish candles to start the day
Personal Opinion:
We’re going to $20,000 (or thereabouts!), yesterday’s mini rejection at $19,400 brought an almost immediate rally. We’re so confident that we longed bitcoin at $19,100!
At 20k? A sell off probably. We know long hodled coins are finding their way to the market at an increasing rate and as 20k is such a key target a rejection feels inevitable. We have no doubt though that the buying pressure exists to re-test 20k the only question we have is how long a re-test takes, will the buy back be swift or will the institutional money allow for a big fall before re-accumulating.
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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.