BTC DAILY: 20/11/20 - PRICE UP + DOMINANCE DOWN = ALTSEASON!!!
BTC DAILY: 20/11/20
PRICE UP + DOMINANCE DOWN = ALTSEASON!!!
15M: V Bullish
1HR: V Bullish
4HR: Bullish
Daily: V Bullish
Weekly: V. Strong Bullish
Monthly: V. Bullish
Overall: V Bullish
Buy/Sell Wall: No major anomalies here, the next semi major Sell Wall is at $19.4k - could this be the next bull's target
Volatility: Finally hit some consolidation and a ranging between $18.6k to $17.2k looking likely and also incredibly healthy.
Volume: Volume is finally decreasing during this consolidation period. Gearing up for next big leg up and potential ATH
ALTS: BTC price is up/consolidating and dominance is decreasing with ALT's volume on the rise. Excellent news for ALT trading.
Local Support: $17,193
Next Support: $15,619
Local Resistance: $18,500
Next Resistance: $19,400
Fundamentals:
-Stimulus Cheques - Uncertainty now with Vaccine.
- Multiple Billionaire Hedgefunds and Innvestor groups are turning attention to BTC now - Closing in on ATH will reinvigorate and potentially send this in to atmosphere - V.Bullish
- COVID Vaccine Roadmap - With other industries coming back to life money can start to flow out of BTC - Bearish
- Biden appointing Gary Gensler (still awaiting to see plan)- Potential Bullish
Technical' s:
- Heavily above the weekly pivot
- Heavily above future pivot target
- Strongly above 200EMA
- Upwards Trendline support
- Strong Bearish Rejection at a potential 18.5k resistance trendline
- Bearish Divergence
Personal Opinion:
Much needed consolidation phase -
Some Bearish short-term signals so we can expect a little drop/re-test of the $17.2k support although I have full faith there will be some big buys waiting there if not a little before ($17.4k region). This will drive back up and look to test the $18.5k resistance if not breaking it for the next leg up.
Whilst there is a little consolidation I don't think it'll be for long, way too much activity and FOMO around BTC at the moment. See updated predicted course on chart.
PRICE UP + DOMINANCE DOWN = ALTSEASON!!!
15M: V Bullish
1HR: V Bullish
4HR: Bullish
Daily: V Bullish
Weekly: V. Strong Bullish
Monthly: V. Bullish
Overall: V Bullish
Buy/Sell Wall: No major anomalies here, the next semi major Sell Wall is at $19.4k - could this be the next bull's target
Volatility: Finally hit some consolidation and a ranging between $18.6k to $17.2k looking likely and also incredibly healthy.
Volume: Volume is finally decreasing during this consolidation period. Gearing up for next big leg up and potential ATH
ALTS: BTC price is up/consolidating and dominance is decreasing with ALT's volume on the rise. Excellent news for ALT trading.
Local Support: $17,193
Next Support: $15,619
Local Resistance: $18,500
Next Resistance: $19,400
Fundamentals:
-Stimulus Cheques - Uncertainty now with Vaccine.
- Multiple Billionaire Hedgefunds and Innvestor groups are turning attention to BTC now - Closing in on ATH will reinvigorate and potentially send this in to atmosphere - V.Bullish
- COVID Vaccine Roadmap - With other industries coming back to life money can start to flow out of BTC - Bearish
- Biden appointing Gary Gensler (still awaiting to see plan)- Potential Bullish
Technical' s:
- Heavily above the weekly pivot
- Heavily above future pivot target
- Strongly above 200EMA
- Upwards Trendline support
- Strong Bearish Rejection at a potential 18.5k resistance trendline
- Bearish Divergence
Personal Opinion:
Much needed consolidation phase -
Some Bearish short-term signals so we can expect a little drop/re-test of the $17.2k support although I have full faith there will be some big buys waiting there if not a little before ($17.4k region). This will drive back up and look to test the $18.5k resistance if not breaking it for the next leg up.
Whilst there is a little consolidation I don't think it'll be for long, way too much activity and FOMO around BTC at the moment. See updated predicted course on chart.
