BTC DAILY : 19/12/20 Mini-Consolidation...time for Mini-ALTSeas
BTC DAILY : 19/12/20
Mini-Consolidation...time for Mini-ALTSeason???
Technical' s
15M: Bullish
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: V. Bullish
Monthly: V. Bullish
Overall: V. Bullish
Sell Wall
1700 BTC - $25,000
Scary size!!!
Buy Wall
1000BTC - $23,000
1300BTC - $20,000
Volatility: High to Low, currently in a pretty short term consolidation
ALTS: ALT's are in a great place right now and coiled ready to spring. Assuming no heavy dumps from BTC a continued consolidation from BTC and dominance rejection should see these explode
Local Support: $23,700
Next Support: $23,300
Local Resistance: $24, 200
Next Resistance: $24,950
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Not immediately Bearish
- Stimulus Package filed not inclusive of Cheques - Bullish
- UK FCA Grants Crypto Firms Temporary Registration as It Deals With Applications Backlog - Bullish
- Coinbase going Public - Big eyes on Crypto
- New ATH after new ATH, new appeal to mainstream investors - Bullish
- Front page mainstream media exposure - Bullish
Personal Opinion:
Breaking down new walls for BTC - 24k in the bag. My though is that we are going to be hunting for 25k over the next 24 hours.
This is the initial key resistance I have been waiting for and very apprehensive about breaking.
My initial prediction from the 16ht still remains with the final target slightly updated to $24,950 - mainly because I am just feeling a big rejection hitting there potential back down to the $23/22k region. There is a monumentally scary sell wall at
25K for 1700 BTC in place so not a case of if but just how far the rejection will go. Big support and buying pressure from 20k up so unlikely a major change in direction or drop below 20k anytime soon.
Mini-Consolidation...time for Mini-ALTSeason???
Technical' s
15M: Bullish
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: V. Bullish
Monthly: V. Bullish
Overall: V. Bullish
Sell Wall
1700 BTC - $25,000
Scary size!!!
Buy Wall
1000BTC - $23,000
1300BTC - $20,000
Volatility: High to Low, currently in a pretty short term consolidation
ALTS: ALT's are in a great place right now and coiled ready to spring. Assuming no heavy dumps from BTC a continued consolidation from BTC and dominance rejection should see these explode
Local Support: $23,700
Next Support: $23,300
Local Resistance: $24, 200
Next Resistance: $24,950
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Not immediately Bearish
- Stimulus Package filed not inclusive of Cheques - Bullish
- UK FCA Grants Crypto Firms Temporary Registration as It Deals With Applications Backlog - Bullish
- Coinbase going Public - Big eyes on Crypto
- New ATH after new ATH, new appeal to mainstream investors - Bullish
- Front page mainstream media exposure - Bullish
Personal Opinion:
Breaking down new walls for BTC - 24k in the bag. My though is that we are going to be hunting for 25k over the next 24 hours.
This is the initial key resistance I have been waiting for and very apprehensive about breaking.
My initial prediction from the 16ht still remains with the final target slightly updated to $24,950 - mainly because I am just feeling a big rejection hitting there potential back down to the $23/22k region. There is a monumentally scary sell wall at
25K for 1700 BTC in place so not a case of if but just how far the rejection will go. Big support and buying pressure from 20k up so unlikely a major change in direction or drop below 20k anytime soon. 
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