#BTCDAILY - 24.2.21
Diamond Hands
Overview:
Support held at $45.1k - making a push back up to $54.1k where key resistance and sell wall - probably short term fate decided here
SELL WALL
350BTC - $54.1K
BUY WALL
N/A
VOLUME: Consolidating for big pump
BTC PRICE RISING + BTC .D CRASHING = ALTS PUMP
Local Support: $49.6k
Next Support: $45.2k
Local Resistance: $52.6k
Next Resistance: $58.4k
Top Fundamentals:
- Biggest single day red candle and now $50k regained - Bullish
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
-Blockchain.com raises $120 million to tackle growing institutional demand for Bitcoin - Bullish
- MicroStrategy Sells Off $1 Billion of Debt to Buy More Bitcoin
-World’s largest asset manager BlackRock confirms they’re looking into Bitcoin - V. Bullish
- Crypto Reaches $1.7 Trillion As Bitcoin Eats into Gold - V. Bullish
- JP Morgan Says It Would Offer Bitcoin if Client Demand Soars - Bullish
- Mastercard and Island Pay Launch World’s First Central Bank Digital Currency-Linked Card - V. Bullish
- Stimulus expected top up no later than 14th March - Extremely Bullish
- BTC Breaks 1 Trillion Market Cap - Bullish
- USDT Settlement - Bullish
- Microstrategy - $170m BTC Buy - Bullish
Personal Opinion:
A little bit pointless doing analysis on BTC over the past couple of days until there was a support confirmed - as expected a new landscape in play but the correction was inevitable.
The immediate play is we are heading to this $54.1k where we will meet resistance, trend resistance and sell wall - if a breakthrough here can be achieved then it is back in channel and global BTC Dominance is resumed a rejection and break back down below 52.4k then we will see a bit more shakey confidence in BTC and could look to revisit the $45k region to accumulate again. With Stimulus on the horizon the bear season is not here yet, not to mention the world is coming back online after COVID.
The most encouraging sign, BTC Price is rising healthily and the Dominance is crashing - lots of volume flowing into ALT's.
Congrats to all of the Diamond Hand holders out there in your HODLS and more so to those who accumulated more - it is about to pay off!!!
Long Term - A target of $75k is not on the cards coming in just after 14th March - please note that this line is not reflective of its movement in time or accurate path, just that I think that it will hit these lows and highs in this order
Diamond Hands
Overview:
Support held at $45.1k - making a push back up to $54.1k where key resistance and sell wall - probably short term fate decided here
SELL WALL
350BTC - $54.1K
BUY WALL
N/A
VOLUME: Consolidating for big pump
BTC PRICE RISING + BTC .D CRASHING = ALTS PUMP
Local Support: $49.6k
Next Support: $45.2k
Local Resistance: $52.6k
Next Resistance: $58.4k
Top Fundamentals:
- Biggest single day red candle and now $50k regained - Bullish
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
-Blockchain.com raises $120 million to tackle growing institutional demand for Bitcoin - Bullish
- MicroStrategy Sells Off $1 Billion of Debt to Buy More Bitcoin
-World’s largest asset manager BlackRock confirms they’re looking into Bitcoin - V. Bullish
- Crypto Reaches $1.7 Trillion As Bitcoin Eats into Gold - V. Bullish
- JP Morgan Says It Would Offer Bitcoin if Client Demand Soars - Bullish
- Mastercard and Island Pay Launch World’s First Central Bank Digital Currency-Linked Card - V. Bullish
- Stimulus expected top up no later than 14th March - Extremely Bullish
- BTC Breaks 1 Trillion Market Cap - Bullish
- USDT Settlement - Bullish
- Microstrategy - $170m BTC Buy - Bullish
Personal Opinion:
A little bit pointless doing analysis on BTC over the past couple of days until there was a support confirmed - as expected a new landscape in play but the correction was inevitable.
The immediate play is we are heading to this $54.1k where we will meet resistance, trend resistance and sell wall - if a breakthrough here can be achieved then it is back in channel and global BTC Dominance is resumed a rejection and break back down below 52.4k then we will see a bit more shakey confidence in BTC and could look to revisit the $45k region to accumulate again. With Stimulus on the horizon the bear season is not here yet, not to mention the world is coming back online after COVID.
The most encouraging sign, BTC Price is rising healthily and the Dominance is crashing - lots of volume flowing into ALT's.
Congrats to all of the Diamond Hand holders out there in your HODLS and more so to those who accumulated more - it is about to pay off!!!
Long Term - A target of $75k is not on the cards coming in just after 14th March - please note that this line is not reflective of its movement in time or accurate path, just that I think that it will hit these lows and highs in this order
