#BTCDAILY - 01.3.21 BreakOut 2: Confirmed (The Climb Begins)
#BTCDAILY - 01.3.21
BreakOut 2: Confirmed (The Climb Begins)
Overview:
Breakout out of downward trend - looking to start challenging resistances - tough one at 48k breaking through will show big upward movement
SELL WALL
48k - 200 BTC
BUY WALL
N/A
VOLUME: Small breakout showing
Market Sentiment:
ALTS Increase
ALT Season
-BTC Price Up
-Dominance Down
-Alt Volume Up
Local Support: $45k
Next Support: $43k
Local Resistance: $48.1k
Next Resistance: $52.1k
Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- Crypto Reaches $1.7 Trillion As Bitcoin Eats into Gold - V. Bullish
- Stimulus expected top up no later than 14th March - Extremely Bullish
- BTC Breaks 1 Trillion Market Cap - Bullish
- USDT Settlement - Bullish
- End of Month Volatility Over - Bullish
- Google Finance lists Crypto - Bullish
- Could be Currency of Choice for international trade for CitiBank - Bullish
Personal Opinion:
Looking like the buy walls held strong over another bloody weekend - ALT's are starting to see the light - great for all of the folks out there using DCA Bots right now ; )
We have a confirmed breakout of the downward trend line and challenging this very tough 48k resistance - breaking through should see a very strong push up. My yesterday analysis predicteded that break out of this trend should see a 1 day push up towards and possibly testing the 52k region - I still think this is a possibility which hangs on getting through this 48k. A big bullish divergence has appeared - volume is starting to breakout too - in essence everything is looking bullish for BTC right now especially with fundamental dropping like bombs too
Long Term - A target of $75k is 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
BreakOut 2: Confirmed (The Climb Begins)
Overview:
Breakout out of downward trend - looking to start challenging resistances - tough one at 48k breaking through will show big upward movement
SELL WALL
48k - 200 BTC
BUY WALL
N/A
VOLUME: Small breakout showing
Market Sentiment:
ALTS Increase
ALT Season
-BTC Price Up
-Dominance Down
-Alt Volume Up
Local Support: $45k
Next Support: $43k
Local Resistance: $48.1k
Next Resistance: $52.1k
Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- Crypto Reaches $1.7 Trillion As Bitcoin Eats into Gold - V. Bullish
- Stimulus expected top up no later than 14th March - Extremely Bullish
- BTC Breaks 1 Trillion Market Cap - Bullish
- USDT Settlement - Bullish
- End of Month Volatility Over - Bullish
- Google Finance lists Crypto - Bullish
- Could be Currency of Choice for international trade for CitiBank - Bullish
Personal Opinion:
Looking like the buy walls held strong over another bloody weekend - ALT's are starting to see the light - great for all of the folks out there using DCA Bots right now ; )
We have a confirmed breakout of the downward trend line and challenging this very tough 48k resistance - breaking through should see a very strong push up. My yesterday analysis predicteded that break out of this trend should see a 1 day push up towards and possibly testing the 52k region - I still think this is a possibility which hangs on getting through this 48k. A big bullish divergence has appeared - volume is starting to breakout too - in essence everything is looking bullish for BTC right now especially with fundamental dropping like bombs too
Long Term - A target of $75k is 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
