BTC 4h 1D 1H Weekly section: Bitcoin weekend №2

19 Des 2020

Saturday night has come, so it's time to write and publish a weekend digest. Not to miss updates, subscribe and like.

This week the crypto world was waiting for two pieces of news:
1) documents and decisions on $850 million from the murky cases of Bitfinex and Tether
2) a decision to pay 138,000BTC, which now cost $3 billion from the hacked exchange Mt. Gox

And so far there was no news, the BTCUSD price froze below the level of $19,400.

15th of December The Tokyo District Court has got a draft plan of returning the funding to affected clients of Mt. Gox.
But it is still unknown when the distributions and the return of almost 138 thousand BTC start.
On Bitfinex and Tether there was no news at all.

The crypto market took this development as a good sign, and early on 16 December, the BTCUSDT price fell off the chain up.
Two daily candles by +$600-700 and the last two days of growth slow down.
If the daily timeframe show that growth becomes "by inertia", then 4h chart shows consolidation with a possible break to $24,500.
The Sunday candle has a super bullish character.

The fall is possible if sellers can lower the price below $22,700

Also recommend taking a look at our Global BTC Idea where we applied the Gunn Box. According to this idea, the trend reversal may happen this or next week.

In order for sellers to take control of the market, they need to lower the price to at least $19,400 next week.
-$5000 a week is something of a fantasy.
Although the crypt can surprise in two directions.

Write in the comments what to add to the digest so you want to read.

Have a nice weekend)
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