Monthly & Weekly Above 11k, Fresh Air But Not The Clear

3 août 2020

Here we are in August and P Action has found itself to pop above 10 k to hit ‘Legs 11’ and play the volatile wick game. Now I won’t get into the vicious pull back that caught uneducated over leveraged retail traders unaware to blow up in the troll boxes and groups asking WTF, I just got rekt. But understanding that this market is made up of a wide range of participants of varying experience levels with varying capital exposure. Thus as market moves into new territory more of this P action will transpire so having an understanding of FOMO and human psychology can make you assess the battle field (charts) and play the field to your advantage.

On the charts you’ll see the horizontal ray depicting bullish above at the 10485.8 mark. Above this and a hold into this formulated upward channel could see 12300 tested and a pop through. P Action above this would be bliss for strength to show presence into the next 5 months trading to close out 2020.

Right now in the next month, it’s all about momentum >>> With more and more people around the world being rattled by covid and dripping their hard earned into the crypto markets and gold and bullion markets and some finding safety in the prop’d up economy this market is going to get juicy. Fundamentally there’s more to account for with each days trading then sentiment of the market 5 years ago. TA is a guide only and being aware of a wider range of systems and how the operate will save your skin and preserve capital.

A fall below the ‘bullish above’ point will make me look for zones of support around the 10k mark, yet a fall below this isn’t good news considering the time spent in that area already. Lastly in the next few months if price attains strength to venture to the Previous high of June 2019 will break a significant area and a lot of FOMO will transpire with a whippy market. If you know what you’re doing exciting times ahead to those that are learning, hold your horses as humans are greedy motherfuckers and a market will always be there so learn the ropes and don’t get caught up in bullshit as there’s plenty of opportunity


Happy trading, be safe, a take off the table to lock up some profit.


Bitcoin to Date
Daily
Current Price: $11173.0 USD
Daily Change %: -2.60%
Market Cap: $204,338,526,700.00 USD
24 Hour Volume: $22,038,365,584 USD
Population of the World: ~7,802,366,819+ humans
Today’s Bitcoin Total / World Population: ~ 0.002364652730127 Satoshi’s / $26.42 USD per person

Overall
Approximate Bitcoin in Circulation: 18,449,888 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,550,113 BTC
Road to 21,000,000 Bitcoin Mined: 87.86%

Current Bitcoin Dominance: 62.36%


📈Support & Resistance📉*
Support Levels
1st Support Zone: 10942.2
2nd Support Zone: 10420.0
3rd Support Zone: 9998.0

Resistance Levels:
1st Resistance Zone: 11686.8
2nd Resistance Zone: 12190.4
3rd Resistance Zone: 12958.5



Price Level Consideration
Approximate Days Until Halving: 1375 Days (Pending Timezone / Blocks Mined)
All Time High Half Way Point: 9942.5
Prominent High: 13767.4
Prominent Low: 3994.1

🐃 Bulls Verse Bears 🐻
🐃 Bullish Above: 10485.8
🐻 Bearish Below: 6474.1

Monthly & Weekly Opens
Monthly Open: 11330.9
Weekly Open: 11076.4



Current Price Zone: ACCUMULATION ZONE


Biggest Bitcoin Transaction of the Day**
1. 🚨1,600 BTC ($18,944,980 USD) transferred from Unknown wallet ➡️ Binance 🚨
2. 🚨1,000 BTC ($11,284,589 USD) transferred from Unknown wallet ➡️ OKEx🚨
3. 🚨900 BTC ($10,022,247 USD) transferred from Unknown wallet ➡️ Binance 🚨

Gold***: $1,975.40 USD +1.39 +0.07%
Silver***: $24.37 USD +0.07 +0.29%

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*📈Support & Resistance📉: These are typically zones & not exact price levels depicted by the lines. Keep in mind that price may respect and repeatedly touch several times on smaller time frames.
**What you won’t see on exchanges: This is purely to reference that traders watching the charts are neglecting the ‘Transaction Sentiment’ of large (🐳 WHALE) transactions from wallet to wallet and OTC execution send transactions (new/old wallets). TIP: The amount/s transferred daily tells a story of flow to potential market dynamics that may transpire.
*** Personally I HODL Gold/Crypto over having a majority of Fiat currency 💸. Previously before trading crypto in 2015, Gold was one of my main charts thus I look at the price regularly comparative to Bitcoin.

Created & published by Des Landen
Landen International

Trading Playlist: Deadmau5