#BTCDAILY - 08 .3.21
Re-Testing $52k
Overview:
$52 continues to be a problem - key to unlocking the bull run
SELL WALL
52.1k - 160 BTC
BUY WALL
N/A
VOLUME: Consolidating a breakout is expected
Market Sentiment:
ALTS Increase/ALT Season
-BTC Price Up
-Dominance Down
-Alt Volume Up
Local Support: $49.4k
Next Support: $47k
Local Resistance: $52
Next Resistance: $52.6k
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
Personal Opinion:
Short-Term
$52k continues to be a problem - a relatively pain free weekend - with a reliving close above $50k for the week close. Will drive confidence in BTC for the coming week ahead.
Next step of Stimulus confirmed almost there - inevitbale big push once it is confirmed - 2 Stages, 1st from traders and 2nd from retail investors and public actually receiving the Stimulus checks.
There is still the big $52k to break through that I personally see bing the reall key resistance here - knocking through that will ensue a much bigger push up.
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
Re-Testing $52k
Overview:
$52 continues to be a problem - key to unlocking the bull run
SELL WALL
52.1k - 160 BTC
BUY WALL
N/A
VOLUME: Consolidating a breakout is expected
Market Sentiment:
ALTS Increase/ALT Season
-BTC Price Up
-Dominance Down
-Alt Volume Up
Local Support: $49.4k
Next Support: $47k
Local Resistance: $52
Next Resistance: $52.6k
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
Personal Opinion:
Short-Term
$52k continues to be a problem - a relatively pain free weekend - with a reliving close above $50k for the week close. Will drive confidence in BTC for the coming week ahead.
Next step of Stimulus confirmed almost there - inevitbale big push once it is confirmed - 2 Stages, 1st from traders and 2nd from retail investors and public actually receiving the Stimulus checks.
There is still the big $52k to break through that I personally see bing the reall key resistance here - knocking through that will ensue a much bigger push up.
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
