BTC DAILY : 9/12/20 Beginning of the End...
BTC DAILY : 9/12/20
Beginning of the End...
Technical' s
15M: BULLISH
1HR: VERY BEARISH
4HR: VERY BEARISH
Daily: BULLISH
Weekly: VERY BULLISH
Monthly: VERY BULLISH
Overall: BEARISH (Short Term - Trend Changing)
Buy/Sell Wall:
Very low activity - Next "major" Buy Wall at 500 BTC is 17.5k expect a bounce/relief.
Volatility: High - Bearish. Current relief and small retrace further big moves in short term expected.
ALTS: Personally think it is time to be gearing up for Shorts and closing out long positions. Unless you are HODL champions
Local Support: $17,645
Next Support: $16,530
Local Resistance: $18,500
Next Resistance: $18,850
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution - Very Bearish (TBC 15 Dec)
- Microstrategy - Potential 400m investment into BTC - Bullish (Unlikely until next dip)
- G7 Summit Crypto Topic - Regulations - Bearish Short-Term/Bullish Long Term
Personal Opinion:
With the muchly anticipated breakout...Down, it is looking like quite a commited direction with several bearish indicators confirming further sell off. The factor is whether a lot of the institutions will withdraw from the market now and crash it?
How far we will go is a little more unpredictable - I think 12k is on the cards although to breach 10k and stay below I think will not be the case this time with a lot of big intuitions sitting at that level.
Predictions are to scrape 18.5k and then rapid fall to 17.65k to hold relief and then further collapse to 17.2k
A little late on posting today but the predicted path is on the chart - with a retrace from the 18k zone to the 18.5k zone and if it pushes up then it should challenge the 18.8k zone before a hard fall/sell off.
The Mt.Gox Creditor Distribution is a real head turner to trigger the down trend.
Beginning of the End...
Technical' s
15M: BULLISH
1HR: VERY BEARISH
4HR: VERY BEARISH
Daily: BULLISH
Weekly: VERY BULLISH
Monthly: VERY BULLISH
Overall: BEARISH (Short Term - Trend Changing)
Buy/Sell Wall:
Very low activity - Next "major" Buy Wall at 500 BTC is 17.5k expect a bounce/relief.
Volatility: High - Bearish. Current relief and small retrace further big moves in short term expected.
ALTS: Personally think it is time to be gearing up for Shorts and closing out long positions. Unless you are HODL champions
Local Support: $17,645
Next Support: $16,530
Local Resistance: $18,500
Next Resistance: $18,850
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution - Very Bearish (TBC 15 Dec)
- Microstrategy - Potential 400m investment into BTC - Bullish (Unlikely until next dip)
- G7 Summit Crypto Topic - Regulations - Bearish Short-Term/Bullish Long Term
Personal Opinion:
With the muchly anticipated breakout...Down, it is looking like quite a commited direction with several bearish indicators confirming further sell off. The factor is whether a lot of the institutions will withdraw from the market now and crash it?
How far we will go is a little more unpredictable - I think 12k is on the cards although to breach 10k and stay below I think will not be the case this time with a lot of big intuitions sitting at that level.
Predictions are to scrape 18.5k and then rapid fall to 17.65k to hold relief and then further collapse to 17.2k
A little late on posting today but the predicted path is on the chart - with a retrace from the 18k zone to the 18.5k zone and if it pushes up then it should challenge the 18.8k zone before a hard fall/sell off.
The Mt.Gox Creditor Distribution is a real head turner to trigger the down trend.
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