BTC DAILY : 7/1/21 America is on Fire whilst BTC is Cooking
BTC DAILY : 7/1/21
America is on Fire whilst BTC is Cooking
Buy/Sell Walls:
$34500 - 600BTC - Sell Wall
Nothing to write home about
Volatility: Starting to consolidate after very steady rise to ATH and closing above
Volume: Consolidated with expected breakout to provide fuel for the rocket to $40k
Dominance -7Below 70% now - whilst also maintaining above previous ATH
ALTS: Dominance Down > Price Up > ALTSEASON 4.0
Local Support: $36.3k
Next Support: $35.8k
Local Resistance: $37.75k
Next Resistance: $40k
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- $600 stimulus package with Democrats in charge will increase to $2k - Hugely Bullish
- OneRiver - Largest BTC transaction (above $30k) - Bull run to continue
- Crypto MArket CAp above $1 Trillion - Hugely bullish
- OCC grants blockchain and stable coin transactions for banks - v. bullish
- Riots/Siege on Capitol Building (WTF) - Hugely Volatile
- Democrats now in charge - Great news for infrastructure - Biden is Bullish
Personal Opinion:
It is looking like BTC is might be taking a little breather to range in a bullish rectangle for a short while before volume consolidates enough to drive towards the $40k region. I just simply don't see it collapsing down or correcting until that $40k is hit outside of any major finnancial or crypto focused bearish news.
The BTC train is just gaining more and more momentum - with BTC dominance below 70% and maintaining above the previous ATH shows that the volume of money coming into crypto on the whole is massively increaseing.
Breaking the $1trillion is absolute gold for mainstream market to start being drawn in more - and the final kicker is the democrats coming which will lead to increased stimulus packages and we all know what happened to BTC price last time.
My predictions are on the chart and going to be the first time I say it BTC to $50k.
America is on Fire whilst BTC is Cooking
Buy/Sell Walls:
$34500 - 600BTC - Sell Wall
Nothing to write home about
Volatility: Starting to consolidate after very steady rise to ATH and closing above
Volume: Consolidated with expected breakout to provide fuel for the rocket to $40k
Dominance -7Below 70% now - whilst also maintaining above previous ATH
ALTS: Dominance Down > Price Up > ALTSEASON 4.0
Local Support: $36.3k
Next Support: $35.8k
Local Resistance: $37.75k
Next Resistance: $40k
Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- $600 stimulus package with Democrats in charge will increase to $2k - Hugely Bullish
- OneRiver - Largest BTC transaction (above $30k) - Bull run to continue
- Crypto MArket CAp above $1 Trillion - Hugely bullish
- OCC grants blockchain and stable coin transactions for banks - v. bullish
- Riots/Siege on Capitol Building (WTF) - Hugely Volatile
- Democrats now in charge - Great news for infrastructure - Biden is Bullish
Personal Opinion:
It is looking like BTC is might be taking a little breather to range in a bullish rectangle for a short while before volume consolidates enough to drive towards the $40k region. I just simply don't see it collapsing down or correcting until that $40k is hit outside of any major finnancial or crypto focused bearish news.
The BTC train is just gaining more and more momentum - with BTC dominance below 70% and maintaining above the previous ATH shows that the volume of money coming into crypto on the whole is massively increaseing.
Breaking the $1trillion is absolute gold for mainstream market to start being drawn in more - and the final kicker is the democrats coming which will lead to increased stimulus packages and we all know what happened to BTC price last time.
My predictions are on the chart and going to be the first time I say it BTC to $50k.
