BTC DAILY: 14/11/20 The Battle For $16k
BTC DAILY: 14/11/20
The Battle For $16k
15M: Bullish
1HR: Bullish
4HR: Bullish
Daily: V. Bullish
Weekly: V. Bullish
Monthly: V. Bullish
Overall: Very Bullish
Buy/Sell Wall: Strong selling pressure up to $16.4k with the largest local sell wall to break
Volatility: A relatively small correction - potential heavy further volatility if $16k cannot be broken
Volume: Volume slowing down, descending volume trendline formed awaiting a potential breakout in volume.
ALTS: BTC Correction caused a heavy drop - volume coming back in although there is uncertainty to commit to ALT's until BTC closes above $16k
Local Support: $16, 000
Next Support: $14,800
Local Resistance: $16, 500
Next Resistance: $16, 700
Fundamentals:
-Stimulus Cheques - Will drop soon after president is confirmed - hugely bullish news
- PAYPAL. PAYPAL. PAYPAL - US integration - V.V.V.V.V.V.V.V.V - Bullish!!!!!!!!!!!
- COVID Vaccine roadmap - Very, Very Bearish - further confirmation on this will draw money out of Crypto into traditional travel markets/airlines
- Biden appointing Gary Gensler (still awaiting to see plan)- Bullish
Technical' s:
- Bearish Weekly Pivot that has been lightly tested
- Strongly above 200EMA
- Upwards Trendline support
- Broken-up Ascending Triangle
Personal Opinion:
Ultimately it is rocky territory for Bitcoin at the moment there has been a correction but has it fully ended yet????
We are confidently testing the 16k resistance which is key to close above before FUD starts setting in in which case we will descend to $14,800.
I personally think the Bull's are in charge here - there are some incredible fundamentals circulating around Bitcoin that is going to drive the price back above $16k over the next 24 hours and start continuing on the current trendline. A slight deviation from my current prediction but I will leave it as I think it will continue on it.
The Battle For $16k
15M: Bullish
1HR: Bullish
4HR: Bullish
Daily: V. Bullish
Weekly: V. Bullish
Monthly: V. Bullish
Overall: Very Bullish
Buy/Sell Wall: Strong selling pressure up to $16.4k with the largest local sell wall to break
Volatility: A relatively small correction - potential heavy further volatility if $16k cannot be broken
Volume: Volume slowing down, descending volume trendline formed awaiting a potential breakout in volume.
ALTS: BTC Correction caused a heavy drop - volume coming back in although there is uncertainty to commit to ALT's until BTC closes above $16k
Local Support: $16, 000
Next Support: $14,800
Local Resistance: $16, 500
Next Resistance: $16, 700
Fundamentals:
-Stimulus Cheques - Will drop soon after president is confirmed - hugely bullish news
- PAYPAL. PAYPAL. PAYPAL - US integration - V.V.V.V.V.V.V.V.V - Bullish!!!!!!!!!!!
- COVID Vaccine roadmap - Very, Very Bearish - further confirmation on this will draw money out of Crypto into traditional travel markets/airlines
- Biden appointing Gary Gensler (still awaiting to see plan)- Bullish
Technical' s:
- Bearish Weekly Pivot that has been lightly tested
- Strongly above 200EMA
- Upwards Trendline support
- Broken-up Ascending Triangle
Personal Opinion:
Ultimately it is rocky territory for Bitcoin at the moment there has been a correction but has it fully ended yet????
We are confidently testing the 16k resistance which is key to close above before FUD starts setting in in which case we will descend to $14,800.
I personally think the Bull's are in charge here - there are some incredible fundamentals circulating around Bitcoin that is going to drive the price back above $16k over the next 24 hours and start continuing on the current trendline. A slight deviation from my current prediction but I will leave it as I think it will continue on it.
