Bitcoin Back In Downward Channel - STILL WEDGED
Bitcoin ‘GOLD 2.0’ Overview: We are waiting for a pop here, it’s up to the market to decide. So here’s yesterdays briefing as it remains the same:
Bitcoin has pushed back above 8800 and positioned itself on the open within the downward channel. This could be a retrace to create a steeper move down so until price breaks the resistance at 9100 we are more bearish than bullish. We aren’t discounting the the triangle spoken about the prior days as the new candle hasn’t closed above it just yet. If price structure was to rise to 9500to the centre of the downward channel we can see some structures forming in favour of the bulls. We are still short since 9800and have take profit along the way. If the market middles around 9300-9500 longs will be in play, however structure needs to be consistent and not messy.
Support Levels: 8400 is Support
Resistance Levels: 9100 turns back into the Resistance area
Channel of Interest (marked with the yellow rectangle) We are back in the downward channel at the open of todays candle. Eyes are on where the close of this candle will be.
🐃Bulls Verse Bears🐻
Bullish above 10500
Bearish below 6500
Bitcoin to Date:
Overall
Approximate Bitcoin Dominance: 63.6%
Approximate Bitcoin in Circulation: 18,251,188 BTC
Approximate Bitcoin Left to Mine: 2,748,813 BTC
Road to 21,000,000 Bitcoin Mined: 86.91%
Approximate Days Until Halving: 68-70 Days
Daily
Current Price: $8856.7 USD
Daily Change %: +0.75%
Market Cap: $161,353,273,331.25 USD
24 Hour Volume: $41,893,854,205 USD
Population of the World: ~7,768,517,150+ humans
Bitcoin/World Population: ~ 0.002349378606958 Satoshi’s / $20.80 USD per person
Trading Quote
“If most traders would sit on their hands 50% of the time, they would make a lot more money.” - Bill Lipschutz
GOLD: $1590.82 USD -1.32 -0.08% Gold has fallen $1.09 USD within the day.
Biggest Bitcoin Transactions of the Day
🚨 1,581 Bitcoin ($13,987,914 USD) transferred from OKEx ➡️ Unknown Wallet
Bitcoin has pushed back above 8800 and positioned itself on the open within the downward channel. This could be a retrace to create a steeper move down so until price breaks the resistance at 9100 we are more bearish than bullish. We aren’t discounting the the triangle spoken about the prior days as the new candle hasn’t closed above it just yet. If price structure was to rise to 9500to the centre of the downward channel we can see some structures forming in favour of the bulls. We are still short since 9800and have take profit along the way. If the market middles around 9300-9500 longs will be in play, however structure needs to be consistent and not messy.
Support Levels: 8400 is Support
Resistance Levels: 9100 turns back into the Resistance area
Channel of Interest (marked with the yellow rectangle) We are back in the downward channel at the open of todays candle. Eyes are on where the close of this candle will be.
🐃Bulls Verse Bears🐻
Bullish above 10500
Bearish below 6500
Bitcoin to Date:
Overall
Approximate Bitcoin Dominance: 63.6%
Approximate Bitcoin in Circulation: 18,251,188 BTC
Approximate Bitcoin Left to Mine: 2,748,813 BTC
Road to 21,000,000 Bitcoin Mined: 86.91%
Approximate Days Until Halving: 68-70 Days
Daily
Current Price: $8856.7 USD
Daily Change %: +0.75%
Market Cap: $161,353,273,331.25 USD
24 Hour Volume: $41,893,854,205 USD
Population of the World: ~7,768,517,150+ humans
Bitcoin/World Population: ~ 0.002349378606958 Satoshi’s / $20.80 USD per person
Trading Quote
“If most traders would sit on their hands 50% of the time, they would make a lot more money.” - Bill Lipschutz
GOLD: $1590.82 USD -1.32 -0.08% Gold has fallen $1.09 USD within the day.
Biggest Bitcoin Transactions of the Day
🚨 1,581 Bitcoin ($13,987,914 USD) transferred from OKEx ➡️ Unknown Wallet
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