#BTCDAILY : 2 / 02 /21 Turning the Tide
#BTCDAILY : 2 / 02 /21
Turning the Tide
Sell Wall
37k - 250 BTC
38k - 250 BTC
Buy Walls
$33.5k - 250 BTC
Volume: Consolidating and Low building for a breakthrough in resistance
ALTS: Dominance Decreasing + Price Stable = ALTs Increase
Local Support: $32.1k
Next Support: $29.2k
Local Resistance: $35k
Next Resistance: $38,100
Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- BlackRock Institution - Confirm 2 funds joining BTC (- Ruffer institution joins the race with a $750m holding - Bullish ) - Bullish
- Biden formally accelerates the Stimulus of 1.9Trillion - Bullish AF
- Elon Musk Tweets BTC Hard at end of consolidation period - Bullish
- Gamestop Craziness could start t drive people away from stocks to Crypto - Bullish potential
- Over 15,200 Bitcoin was transferred out of Coinbase Pro in just one day.
This is likely the result of some huge over-the-counter deals made by institutional investors
Personal Opinion:
Not a huge amount changing from yesterday analysis - it looks like we are going along the expected path, we may see a bit of a rejection at $34.9k although I feel this will only be a for a short while. Once we get above the $35k region it will re-install faith in BTC and change to a very bullish sentiment. With still a healthy buy wall at $33.5k this should help push it past this resistance if rejected.
We are not just waiting for Stimulus to really send it hurtling upwards to the ATH
Turning the Tide
Sell Wall
37k - 250 BTC
38k - 250 BTC
Buy Walls
$33.5k - 250 BTC
Volume: Consolidating and Low building for a breakthrough in resistance
ALTS: Dominance Decreasing + Price Stable = ALTs Increase
Local Support: $32.1k
Next Support: $29.2k
Local Resistance: $35k
Next Resistance: $38,100
Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- BlackRock Institution - Confirm 2 funds joining BTC (- Ruffer institution joins the race with a $750m holding - Bullish ) - Bullish
- Biden formally accelerates the Stimulus of 1.9Trillion - Bullish AF
- Elon Musk Tweets BTC Hard at end of consolidation period - Bullish
- Gamestop Craziness could start t drive people away from stocks to Crypto - Bullish potential
- Over 15,200 Bitcoin was transferred out of Coinbase Pro in just one day.
This is likely the result of some huge over-the-counter deals made by institutional investors
Personal Opinion:
Not a huge amount changing from yesterday analysis - it looks like we are going along the expected path, we may see a bit of a rejection at $34.9k although I feel this will only be a for a short while. Once we get above the $35k region it will re-install faith in BTC and change to a very bullish sentiment. With still a healthy buy wall at $33.5k this should help push it past this resistance if rejected.
We are not just waiting for Stimulus to really send it hurtling upwards to the ATH
