BTC DAILY: 18/11/20 20k - Will it, Won't It???
BTC DAILY: 18/11/20
20k - Will it, Won't It???
15M: V.Strong Bullish
1HR: V. Strong Bullish
4HR: V. Strong Bullish
Daily: V. Strong Bullish
Weekly: V. Strong Bullish
Monthly: V. Bullish
Overall: V. Strong Bullish
Buy/Sell Wall: Completely irrelevant right now, there are bigger whales that we can imagine coming into play now
Volatility: Parabolic over the past 48 hours - no major supports/resistances close - expecting further heavy volatility soon
Volume: Massive volume - BTC boke the Market Cap All Time high recently.
ALTS: Potential massive bullish bounce across the board for ALT's although if BTC shows any further downward movement this will wipe out alot of trades - very short term trades onyl recommended
Local Support: $17,200
Next Support: $16,514
Local Resistance: $18,461
Next Resistance: $19,819
Fundamentals:
-Stimulus Cheques - Will drop soon after president is confirmed - hugely bullish news
- PAYPAL. PAYPAL. PAYPAL - US integration - V.V.V.V.V.V.V.V.V - Bullish!!!!!!!!!!!
- Multiple Billionaire Hedgefunds and INnvestor groups are turning attention to BTC now - V.Bullish
- COVID Vaccine roadmap - Very, Very Bearish - further confirmation on this will draw money out of Crypto into traditional travel markets/airlines
- Biden appointing Gary Gensler (still awaiting to see plan)- Bullish
Technical' s:
- Heavily above the weekly pivot
- Oversold
- Heavily above future pivot target
- Strongly above 200EMA
- Upwards Trendline support
- Strong Bearish Rejection at a potential 18.5k resistance trendline
Personal Opinion:
BTC is setting a new precedence right now, nothing has been surprising about the direction but the increase and speed has. The recent pump has been almost 3k in crease before final resistance at a possible long term trendline.
The next steps seem pretty clear to me - tiny consolidation period hours, maybe a day between 17.5k to 18.5k and then break this new 18.5k resistance and full steam to 20k plus. The other scenario is saying a quick hello to the 17.2k region again and possibly lower.
Would I Sell now....not yet until the next hand is revealed but don't be greedy - in 2018 a lot of people kept holding for that 20k which....never came...well not yet anyway.
Would I go Long....Hell No.
My preference for the long term would be to see a healthy correction and sell off to the 17.2k and possibly lower region and back to regaining a more sustainable and somewhat predictable bullish movement.
20k - Will it, Won't It???
15M: V.Strong Bullish
1HR: V. Strong Bullish
4HR: V. Strong Bullish
Daily: V. Strong Bullish
Weekly: V. Strong Bullish
Monthly: V. Bullish
Overall: V. Strong Bullish
Buy/Sell Wall: Completely irrelevant right now, there are bigger whales that we can imagine coming into play now
Volatility: Parabolic over the past 48 hours - no major supports/resistances close - expecting further heavy volatility soon
Volume: Massive volume - BTC boke the Market Cap All Time high recently.
ALTS: Potential massive bullish bounce across the board for ALT's although if BTC shows any further downward movement this will wipe out alot of trades - very short term trades onyl recommended
Local Support: $17,200
Next Support: $16,514
Local Resistance: $18,461
Next Resistance: $19,819
Fundamentals:
-Stimulus Cheques - Will drop soon after president is confirmed - hugely bullish news
- PAYPAL. PAYPAL. PAYPAL - US integration - V.V.V.V.V.V.V.V.V - Bullish!!!!!!!!!!!
- Multiple Billionaire Hedgefunds and INnvestor groups are turning attention to BTC now - V.Bullish
- COVID Vaccine roadmap - Very, Very Bearish - further confirmation on this will draw money out of Crypto into traditional travel markets/airlines
- Biden appointing Gary Gensler (still awaiting to see plan)- Bullish
Technical' s:
- Heavily above the weekly pivot
- Oversold
- Heavily above future pivot target
- Strongly above 200EMA
- Upwards Trendline support
- Strong Bearish Rejection at a potential 18.5k resistance trendline
Personal Opinion:
BTC is setting a new precedence right now, nothing has been surprising about the direction but the increase and speed has. The recent pump has been almost 3k in crease before final resistance at a possible long term trendline.
The next steps seem pretty clear to me - tiny consolidation period hours, maybe a day between 17.5k to 18.5k and then break this new 18.5k resistance and full steam to 20k plus. The other scenario is saying a quick hello to the 17.2k region again and possibly lower.
Would I Sell now....not yet until the next hand is revealed but don't be greedy - in 2018 a lot of people kept holding for that 20k which....never came...well not yet anyway.
Would I go Long....Hell No.
My preference for the long term would be to see a healthy correction and sell off to the 17.2k and possibly lower region and back to regaining a more sustainable and somewhat predictable bullish movement.
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