#BTCDAILY : 19/ 01 /21 The BitBoys Are Back In Town
#BTCDAILY : 19/ 01 /21
The BitBoys Are Back In Town
Sell Walls
$38k - 300 BTC
40k - 350BTC
Buy Wall
$35k - 285 BTC
Volatility: Consolidating in a symmetrical triangle - teeing up for a big move
ALTS: BTC Dom Down + BTC Price Up = AltSeason
Local Support: $33.7k
Next Support (MAJOR): $30k.5k
Local Resistance: $38k
Next Resistance: $40k
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- New $2000 Stimulus Package Potential - Hugely Bullish
- Pro Crypto appointment at the SEC - V. Bullish
- Institutional Investment continues - Skybridge Capital ($182 million in December) / MassMutual ($100 million in December) / Guggenheim (up to 10% of its $5 billion macro fund).
- Greyscale dumped another $600m BTC in their holdings - Bullish
- Ruffer institution joins the race with a $750m holding - Bullish
- Expected Riots at the Biden Inauguration, last time this happened BTC pumped - Bullish
Personal Opinion:
Prediction remains from the 15th January - even more so now with Greyscale getting back in the race and Ruffer Group joining. There will be some volatility around the 20th with the predicted riots and generally FUD - people may flock to BTC again for the decentralized safe haven as they did when the Capitol building was breached. All speculation - minimal impact long term although watch those leverage trades for long angry wicks.
A pretty standard symmetrical triangle formed and we are testing the upper resistance now - volume is consolidating and poised for a big break out now - bullish is the sentiment for me.
The BitBoys Are Back In Town
Sell Walls
$38k - 300 BTC
40k - 350BTC
Buy Wall
$35k - 285 BTC
Volatility: Consolidating in a symmetrical triangle - teeing up for a big move
ALTS: BTC Dom Down + BTC Price Up = AltSeason
Local Support: $33.7k
Next Support (MAJOR): $30k.5k
Local Resistance: $38k
Next Resistance: $40k
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- New $2000 Stimulus Package Potential - Hugely Bullish
- Pro Crypto appointment at the SEC - V. Bullish
- Institutional Investment continues - Skybridge Capital ($182 million in December) / MassMutual ($100 million in December) / Guggenheim (up to 10% of its $5 billion macro fund).
- Greyscale dumped another $600m BTC in their holdings - Bullish
- Ruffer institution joins the race with a $750m holding - Bullish
- Expected Riots at the Biden Inauguration, last time this happened BTC pumped - Bullish
Personal Opinion:
Prediction remains from the 15th January - even more so now with Greyscale getting back in the race and Ruffer Group joining. There will be some volatility around the 20th with the predicted riots and generally FUD - people may flock to BTC again for the decentralized safe haven as they did when the Capitol building was breached. All speculation - minimal impact long term although watch those leverage trades for long angry wicks.
A pretty standard symmetrical triangle formed and we are testing the upper resistance now - volume is consolidating and poised for a big break out now - bullish is the sentiment for me.
