#BTCDAILY : 11 / 02 /21 Calm Before The Storm
#BTCDAILY : 11 / 02 /21
Calm Before The Storm
BPT Sentiment:
BULLISH
Sell Wall
Buy Wall
$42k - 170 BTC
Volume: Consolidating period
ALTS: Dominance Decreasing + Price Stable = ALTS Increasing
Local Support: $43.7k
Next Support: $42.2k
Pivot Support - $45.75
Local Resistance: $48k
Next Resistance: $50k
Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- TESLA buys $1.5 billion in BTC - Possibly most Bullish News ever
- Stimulus looming - Bullish
- Amazon to launch digital currency platform in Mexico - Bullish
- MAstercard plans to support crypto in 2021 - Bullish
- VISA Integration - Bullish
- BTC Flips TESLA to become 7th Largest commodity in the world - Ultra Bullish
Personal Opinion:
Some heavy news dropping this week with key players after the TESLA buy - with Mastercard announcing Digital payment platform, Amazon rumours gaining more traction and the $50k target coming within touching distance. An incredible bullish sentiment remains around BTC - with 50k almost inevitable now.
From a technical standpoint the predictions are on the chart - there is a distinct consolidation period incoming that was meant to happen right before the #BTCSLA pump although is now in play with playing within this ascending triangle that looks like it is forming.
ALT's have been going particularly crazy and there is a still alot more to come from them. Outside of any further Musk craziness this will consolidate and break up to $50k.
Calm Before The Storm
BPT Sentiment:
BULLISH
Sell Wall
Buy Wall
$42k - 170 BTC
Volume: Consolidating period
ALTS: Dominance Decreasing + Price Stable = ALTS Increasing
Local Support: $43.7k
Next Support: $42.2k
Pivot Support - $45.75
Local Resistance: $48k
Next Resistance: $50k
Top Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- TESLA buys $1.5 billion in BTC - Possibly most Bullish News ever
- Stimulus looming - Bullish
- Amazon to launch digital currency platform in Mexico - Bullish
- MAstercard plans to support crypto in 2021 - Bullish
- VISA Integration - Bullish
- BTC Flips TESLA to become 7th Largest commodity in the world - Ultra Bullish
Personal Opinion:
Some heavy news dropping this week with key players after the TESLA buy - with Mastercard announcing Digital payment platform, Amazon rumours gaining more traction and the $50k target coming within touching distance. An incredible bullish sentiment remains around BTC - with 50k almost inevitable now.
From a technical standpoint the predictions are on the chart - there is a distinct consolidation period incoming that was meant to happen right before the #BTCSLA pump although is now in play with playing within this ascending triangle that looks like it is forming.
ALT's have been going particularly crazy and there is a still alot more to come from them. Outside of any further Musk craziness this will consolidate and break up to $50k.
