🤖 #BTCLIVE - 29.09 🤖
🤖 #BTCLIVE - 29.09 🤖
TLDR:
Short-Term (-1 Day)
70:30- Bullish:Bearish
Mid-Term (1 Week+)
40:60
Bullish:Bearish
Long-Term (1 Month+)
60:40 - Bullish:Bearish
OVERVIEW:
All things looking relatively bullish over the next day or so for BTC - there is still some significant resistance to get through at 20.5k region with long term trendlines and high resistances volume. September close is notoriously bearish, so I still expect this to ring true. Expecting some very heavy volatility tomorrow with the options expiration. Ultimately my general thoughts are that we are going to track up to about 20.5k and then have a very heavy retracement from there - this could well extend well below 19k back to the 18.7k support. We are nearing the end of this daily Descending triangle so a big move is expected out of that, they are a a pretty bearish pattern and the weekly descending wedge also suggests that a 16k is still on the cards without invalidating the pattern. So in a nutshell don't commit too heavy to longs rn , we still need to break this 20DEMA in order to get any where and losing 19.1k and the 200EMA on the 1hr will likely see the start of the downward movement.
TECHNICAL ANALYSIS:
+BULLISH FACTORS:
+ Low overhead Volume to 20.5k
+ Flipped VWAP
+ FLIPPED 200 EMA 1H
+ Holding Daily Support
+ Bullish Divergence on the Daily
+ Descending Wedge on the Weekly
+ Volume is consolidating for breakout
BEARISH FACTORS:
- 20 DEMA proving tough resistance
- Overbought Rejection on Local Resistance
- Descending Triangle on the Daily
+ Local trendline resistance
NEWS:
Bull:
+ Senator Lummis calls out U.S. leaders to welcome Bitcoin as it ‘can’t be stopped’ [finbold.com]
+🇦🇪 UAE's Ministry of Economy opens headquarters in the #metaverse.
+ UK investors turn to Bitcoin as GBP weakens, new data shows [finbold.com]
cryptopanic.com/news/16458396/UK-investors-turn-to-Bitcoin-as-GBP-weakens-new-data-shows?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
Bear:
- Gary Gensler Speaking today
Volatility
* Powell speaking today at 3.15pm UK time
* Options expiration on tomorrow
MARKET SENTIMENT:
Fear & Greed Index - Sep 28, 2022:
Today: 20 (Extreme Fear)
Yesterday: 20 (Extreme Fear)
Avg. 1W: 22 😱
Avg. 2W: 22 😱
Avg. 1M: 23 😱
Avg. 2M: 28 😱
Avg. 3M: 27 😱
Avg. 6M: 23 😱
Avg. 1Y: 32 😣
🔸 #Bitcoin
Price: $19,116
24h Low: $18,903
24h High: $20,339
MC Change: -1.2B (-0.3%)
Dominance: 37.7%
24h: -0.4%
7d: -2.3%
14d: -14.4%
30d: -4.8%
60d: -19.8%
200d: -51.6%
1y: -55.9%
BTC #BTC bitcoin #bitcoin
TLDR:
Short-Term (-1 Day)
70:30- Bullish:Bearish
Mid-Term (1 Week+)
40:60
Bullish:Bearish
Long-Term (1 Month+)
60:40 - Bullish:Bearish
OVERVIEW:
All things looking relatively bullish over the next day or so for BTC - there is still some significant resistance to get through at 20.5k region with long term trendlines and high resistances volume. September close is notoriously bearish, so I still expect this to ring true. Expecting some very heavy volatility tomorrow with the options expiration. Ultimately my general thoughts are that we are going to track up to about 20.5k and then have a very heavy retracement from there - this could well extend well below 19k back to the 18.7k support. We are nearing the end of this daily Descending triangle so a big move is expected out of that, they are a a pretty bearish pattern and the weekly descending wedge also suggests that a 16k is still on the cards without invalidating the pattern. So in a nutshell don't commit too heavy to longs rn , we still need to break this 20DEMA in order to get any where and losing 19.1k and the 200EMA on the 1hr will likely see the start of the downward movement.
TECHNICAL ANALYSIS:
+BULLISH FACTORS:
+ Low overhead Volume to 20.5k
+ Flipped VWAP
+ FLIPPED 200 EMA 1H
+ Holding Daily Support
+ Bullish Divergence on the Daily
+ Descending Wedge on the Weekly
+ Volume is consolidating for breakout
BEARISH FACTORS:
- 20 DEMA proving tough resistance
- Overbought Rejection on Local Resistance
- Descending Triangle on the Daily
+ Local trendline resistance
NEWS:
Bull:
+ Senator Lummis calls out U.S. leaders to welcome Bitcoin as it ‘can’t be stopped’ [finbold.com]
+🇦🇪 UAE's Ministry of Economy opens headquarters in the #metaverse.
+ UK investors turn to Bitcoin as GBP weakens, new data shows [finbold.com]
cryptopanic.com/news/16458396/UK-investors-turn-to-Bitcoin-as-GBP-weakens-new-data-shows?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
Bear:
- Gary Gensler Speaking today
Volatility
* Powell speaking today at 3.15pm UK time
* Options expiration on tomorrow
MARKET SENTIMENT:
Fear & Greed Index - Sep 28, 2022:
Today: 20 (Extreme Fear)
Yesterday: 20 (Extreme Fear)
Avg. 1W: 22 😱
Avg. 2W: 22 😱
Avg. 1M: 23 😱
Avg. 2M: 28 😱
Avg. 3M: 27 😱
Avg. 6M: 23 😱
Avg. 1Y: 32 😣
🔸 #Bitcoin
Price: $19,116
24h Low: $18,903
24h High: $20,339
MC Change: -1.2B (-0.3%)
Dominance: 37.7%
24h: -0.4%
7d: -2.3%
14d: -14.4%
30d: -4.8%
60d: -19.8%
200d: -51.6%
1y: -55.9%
BTC #BTC bitcoin #bitcoin
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