Bitcoin BTC/USD Conflicting TAs Fundamentals To Prove

2020年7月12日

Cases could be made for both bull and bear on the Daily charts. With various support and resistant points for extrapolation. However the correlation between the Equity markets is still quite in tact, so assuming a further rally on the markets, will likely feed to the BTC markets. Will be interesting if another drop down on Equities effects BTC. For now, to break 10K likely needs another decent rally on markets such as S&P500. To me this shows though that institutional investors are much more active in Crypto markets these days, so the ability of a relatively few wales to dump/pump is more limited. As Cointelegraph.com.au reported in May - 97.3% of Bitcoin wallets hold under 1 BTC
Balances of 10-100 BTC make up 0.45% of the total, while even wallets between 1-10 BTC contribute just 2.17%.
For now staying long, and accumulating further buy ins under 9K, and keeping cash aside in case of a flash down to 8K and under.