#BTCDAILY - 09.3.21 - Strap in, next stop ATH
#BTCDAILY - 09 .3.21
Strap in, next stop ATH
Overview:
$52k broken and as expected big jump - $55k is next big challenge - small rejection expected here
SELL WALL
55.1k - 200 BTC
54.6k - 200BTC
BUY WALL
N/A
VOLUME: Small breakout - small retrace expected
Market Sentiment:
ALTS Increase/Season
-BTC Price Up
-Dominance Up - Will slow ALT's down a little
-Alt Volume Up
Local Support: $52.7k
Next Support: $51k
Local Resistance: $55k
Next Resistance: $58.3k
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
- Week Close above $50k - Bullish
- Could be Currency of Choice for international trade for CitiBank - Bullish
- Goldman-Sachs reopening BTC Desk Mid - March - Stimulus
- House and Senate pass Stimulus - Bullish
- BTC back above $1Trillion - Super Bullish
Personal Opinion:
Short-Term
As per yesterday analysis $52k broke and a strong push upwards occurred - there is a very high chance of testing $55k in next 24 hours with a decent rejection possibly back to $52k.
ALPHA Wave is getting oversold and and small breakout on volume will lead to a little retrace to re-enforce this resistance. Nothing to worry about I am still of a very very bullish mindset now. We are all set up perfectly for the Stimulus to drop and catapult it to the 70k region.
Very exciting times.
Long Term (Unchanged) - 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
Strap in, next stop ATH
Overview:
$52k broken and as expected big jump - $55k is next big challenge - small rejection expected here
SELL WALL
55.1k - 200 BTC
54.6k - 200BTC
BUY WALL
N/A
VOLUME: Small breakout - small retrace expected
Market Sentiment:
ALTS Increase/Season
-BTC Price Up
-Dominance Up - Will slow ALT's down a little
-Alt Volume Up
Local Support: $52.7k
Next Support: $51k
Local Resistance: $55k
Next Resistance: $58.3k
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
- Week Close above $50k - Bullish
- Could be Currency of Choice for international trade for CitiBank - Bullish
- Goldman-Sachs reopening BTC Desk Mid - March - Stimulus
- House and Senate pass Stimulus - Bullish
- BTC back above $1Trillion - Super Bullish
Personal Opinion:
Short-Term
As per yesterday analysis $52k broke and a strong push upwards occurred - there is a very high chance of testing $55k in next 24 hours with a decent rejection possibly back to $52k.
ALPHA Wave is getting oversold and and small breakout on volume will lead to a little retrace to re-enforce this resistance. Nothing to worry about I am still of a very very bullish mindset now. We are all set up perfectly for the Stimulus to drop and catapult it to the 70k region.
Very exciting times.
Long Term (Unchanged) - 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
