Bitcoin In the Yellow Triangle WEEKLY OUTLOOK:
Bitcoin ‘GOLD 2.0’ Overview: With the news from the Federal Reserve announcing they're emergency cutting rates to zero and launching a massive quantitive basin g program to do $700 billion in asset purchases we saw a slight upward movement and rejection to that news at the 6100 mark For Bitcoin. This is a positive sign for bitcoin however its still following other markets. And now has settled back into the triangle depicted on the charts.
For the week bulls need to push and close this candle above 5500 to get out of this area. Consolidation here looks more heavy then bullish. If price remains range bound between 4900 -5400 by the end of the week price needs to stable at present price around 5300.
Intently watching price movement within the triangle. The bulls need to show straight above this, and MUST do this by the end of the week or we will be breaking the lower trend line depicted from December 2017 / January 2018. We would look for a bounce here.
If a daily candle breaks below this then Bears could fully drop this market to the next support.
Support Levels: Next support is at 5000
Resistance Levels: 6100 is currently resistance
Point of Interest: Price movement the bottom of this price channel is of interest. Price has consolidated in terms of range and smaller candles then previous.
🐃Bulls Verse Bears🐻
WE ARE BEARISH
Bullish above 10500
Bearish below 6500
Bitcoin to Date:
Overall
Approximate Bitcoin Dominance: 63.8%
Approximate Bitcoin in Circulation: 18,272,400 BTC
Approximate Bitcoin Left to Mine: 2,727,600 BTC
Road to 21,000,000 Bitcoin Mined: 87.01%
Approximate Days Until Halving: 56-58 Days
Daily
Current Price: $5296.5 USD
Daily Change %: -1.61%
Market Cap: $96,741,394,560.00 USD
24 Hour Volume: $33,956,367,282 USD
Population of the World: ~7,771,152,610+ humans
Bitcoin/World Population: ~ 0.00235131143564 Satoshi’s / $12.45 USD per person
Trading Quote
“I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have” – Paul Tudor Jones.
GOLD: $1529.29 USD +16.40 +1.08% Gold has risen $16.02 USD within the day.
Biggest Bitcoin Transactions of the Day
🚨 1,232 Bitcoin ($6,549,385 USD) transferred from Unknown Wallet ➡️ Huobi
For the week bulls need to push and close this candle above 5500 to get out of this area. Consolidation here looks more heavy then bullish. If price remains range bound between 4900 -5400 by the end of the week price needs to stable at present price around 5300.
Intently watching price movement within the triangle. The bulls need to show straight above this, and MUST do this by the end of the week or we will be breaking the lower trend line depicted from December 2017 / January 2018. We would look for a bounce here.
If a daily candle breaks below this then Bears could fully drop this market to the next support.
Support Levels: Next support is at 5000
Resistance Levels: 6100 is currently resistance
Point of Interest: Price movement the bottom of this price channel is of interest. Price has consolidated in terms of range and smaller candles then previous.
🐃Bulls Verse Bears🐻
WE ARE BEARISH
Bullish above 10500
Bearish below 6500
Bitcoin to Date:
Overall
Approximate Bitcoin Dominance: 63.8%
Approximate Bitcoin in Circulation: 18,272,400 BTC
Approximate Bitcoin Left to Mine: 2,727,600 BTC
Road to 21,000,000 Bitcoin Mined: 87.01%
Approximate Days Until Halving: 56-58 Days
Daily
Current Price: $5296.5 USD
Daily Change %: -1.61%
Market Cap: $96,741,394,560.00 USD
24 Hour Volume: $33,956,367,282 USD
Population of the World: ~7,771,152,610+ humans
Bitcoin/World Population: ~ 0.00235131143564 Satoshi’s / $12.45 USD per person
Trading Quote
“I’m always thinking about losing money as opposed to making money. Don’t focus on making money, focus on protecting what you have” – Paul Tudor Jones.
GOLD: $1529.29 USD +16.40 +1.08% Gold has risen $16.02 USD within the day.
Biggest Bitcoin Transactions of the Day
🚨 1,232 Bitcoin ($6,549,385 USD) transferred from Unknown Wallet ➡️ Huobi
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