BTC DAILY : 27/12/20 The Battle For $29k Begins

BTC DAILY : 27/12/20
The battle for (27K - Delete) (28k - Delete) 29K begins

Technical' s
15M: Bearish
1HR: Bullish
4HR: Bullish
Daily: Bullish
Weekly: Very Bullish
Monthly: Very Bullish
Overall: Very Bullish

Sell Wall
30k - 400 BTC
Buy Wall
26.5k - 250 BTC
20k - 1.3k BTC
A lot of Buy and Sell orders just wiped out from huge volatile movement

Volatility: Extremely High
Dominance - Reached 72.22% and dropped to 71.66% - ALTs are getting hurt here will need this to be sinking below 70% before any viable ALT trading.

ALTS: Was looking quite good earlier although right now with the given volatility it is a really bad idea to be trading either long or shorts

Local Support: $26,500
Next Support: $25,600

Local Resistance: $27, 800
Next Resistance: $28,400

Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Beaish
- New $2000 Stimulus Package Potential - Hugely Bullish
- Coinbase going Public - Big eyes on Crypto
- New COVID Mutation - Borders closing at UK - Bearish
- Pro Crypto appointment at the SEC - V. Bullish
- Xmas Period bring volatility - Unpredictability
- Biden Inauguration 20th Jan along with some "Dump Event" doing the rounds on trading channels - Bearish (Apparently)

Personal Opinion:

The funny thing is the title for today started with "The battle for 27k...."

We just hit heavy overbought territory and a Bearish Divergence so a good correction here is muchly needed.

Here we are again - another new ATH and continuing with uncharted territory. So much is happening whilst I am writing this - lets hope it will still be relevant by the time it goes out.

From a completely technical point of view this is turning into a perfect pullback retest scenario losing the big sell's at 28k+ and gathering the buy's at the support almost perfectly. I would say this is on track for 30k perfect and we are at this dip here already!

Famous last words - Prediction is 30k by 1st Jan