BTC DAILY: 28/11/20 "Elastic Band about to Snap"
BTC DAILY: 28/11/20
"Elastic Band about to Snap"
15M: V.BULLISH
1HR: BULLISH
4HR: BEARISH
Daily: BULLISH
Weekly: V. BULLISH
Monthly: V. BULLISH
Overall: BULLISH
Buy/Sell Wall: Buy walls coming in at the 17k/17.1k encouraging bullish sentiment
Volatility:
Low 24hour volatility - consolidating
ALTS: Consolidating - ALT MArket Cap formed ascending triangle and could break up. Possible horizon of strong ALT movement up.
Local Support: $16,496
Next Support: $15,681
Local Resistance: $17,335
Next Resistance: $18,000
Fundamentals:
-Stimulus Cheques - Uncertainty now with Vaccine.
- PayPal/Square - Continually buying all mined BTC spiking price - Very Bullish
- Announced integration with VISA - Ultra Bullish
- Rumours that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I'm concerned that this would have unintended side effects, and wanted to share those concerns. - Extremely Bearish
-China authorities seized 1% of total BTC supply - Bearish
- OKEX volatility with withdrawal ban lifted a lot of outflow and subsequent inflow - Volatility
- Options Expiring - Volatility (Bloody Sunday?)
Technical' s:
- Breakdown of local support
- Trading above 200 EMA Support
- Below Weekly P& Future Pivot
- Broken Trendline Support
- Forming a Bullish Ascending Triangle
Personal Opinion:
It is looking like an encouraging Bullish Ascending Triangle is forming (Hopefully bullish).
Remaining to existing prediction from 26th - current consolidation - although all it will take is one big whale or institution to pull it in either direction at the moment. Impossible to confirm a direction although I am leaning towards the slightly bullish sentiment with no further corrections.
The volume is showing a descending trendline ready to break hard - so expecting a big move/leg up, hopefully up, over the next 24 hours.
"Elastic Band about to Snap"
15M: V.BULLISH
1HR: BULLISH
4HR: BEARISH
Daily: BULLISH
Weekly: V. BULLISH
Monthly: V. BULLISH
Overall: BULLISH
Buy/Sell Wall: Buy walls coming in at the 17k/17.1k encouraging bullish sentiment
Volatility:
Low 24hour volatility - consolidating
ALTS: Consolidating - ALT MArket Cap formed ascending triangle and could break up. Possible horizon of strong ALT movement up.
Local Support: $16,496
Next Support: $15,681
Local Resistance: $17,335
Next Resistance: $18,000
Fundamentals:
-Stimulus Cheques - Uncertainty now with Vaccine.
- PayPal/Square - Continually buying all mined BTC spiking price - Very Bullish
- Announced integration with VISA - Ultra Bullish
- Rumours that the U.S. Treasury and Secretary Mnuchin were planning to rush out some new regulation regarding self-hosted crypto wallets before the end of his term. I'm concerned that this would have unintended side effects, and wanted to share those concerns. - Extremely Bearish
-China authorities seized 1% of total BTC supply - Bearish
- OKEX volatility with withdrawal ban lifted a lot of outflow and subsequent inflow - Volatility
- Options Expiring - Volatility (Bloody Sunday?)
Technical' s:
- Breakdown of local support
- Trading above 200 EMA Support
- Below Weekly P& Future Pivot
- Broken Trendline Support
- Forming a Bullish Ascending Triangle
Personal Opinion:
It is looking like an encouraging Bullish Ascending Triangle is forming (Hopefully bullish).
Remaining to existing prediction from 26th - current consolidation - although all it will take is one big whale or institution to pull it in either direction at the moment. Impossible to confirm a direction although I am leaning towards the slightly bullish sentiment with no further corrections.
The volume is showing a descending trendline ready to break hard - so expecting a big move/leg up, hopefully up, over the next 24 hours.
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