10k Pounce, Use Zone Support, Stay Above & 'Bounce'

2 thg 6, 2020

Ripper P action the last hour before open to push the market through certain resistance levels like it’s not even there. I posted in the last chart that the subtle trend line was being tested being an indication that an attack was transpiring.

NOW: Bitcoin needs to stay above the 10k spot. Even if consolidates it’s a good area to sit as its broken somer major resistance to get there.

Area of Interest
Straight into this P zone and I’ll go into whats in its favour.

Bulls should look to fill this wick off the monthly as much as possible:


Zoom in the is the High of 2020 thus far and P action to get up here is a safety point of reasoning that this market has power and confidence:


Diving into Daily dynamics:


From the above note that Bitcoin has:
Broken the 10k mark
Broke the Trend Line mentioned yesterday after testing an hour before todays open, pull back, EXPLODE
Inner upward channel touch and bounce
25% Level of Channel, Look to Rise to 50%
Previous tests of 10k become support showing strength



Rest of the day we watch and analyse P action to stay above 10k, push , settle fall focusing on resistance play around the subtle ‘yellow’ Trend line on the 4 hour chart published above.

Let’s Go, Happy Trading

Bitcoin to Date
Daily
Current Price: $10,179 USD
Daily Change %: +7.29%
Market Cap: $187,485,435,787.50 USD
24 Hour Volume: $35,864,270,680 USD
Population of the World: ~7,788,513,400+ humans
Today’s Bitcoin Total / World Population: ~ 0.002361393382208 Satoshi’s / $24.03 USD per person

Overall
Approximate Bitcoin in Circulation: 18,391,744 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,608,256 BTC
Road to 21,000,000 Bitcoin Mined: 87.58%
Current Bitcoin Dominance: 67%



📈Support & Resistance📉*
Support Levels
1st Support Zone: 9779.1
2nd Support Zone: 9503.1
3rd Support Zone: 9133.1

Resistance Levels:
1st Resistance Zone: 10472.2
2nd Resistance Zone: 10944.8
3rd Resistance Zone: 11845.7



Price Level Consideration
Approximate Days Until Halving: 1439 Days (Pending Timezone / Blocks Mined)
All Time High Half Way Point: 9942.5
Prominent High: 13767.4
Prominent Low: 3994.1

🐃 Bulls Verse Bears 🐻
🐃 Bullish Above: 10485.8
🐻 Bearish Below: 6474.1

Monthly & Weekly Opens
Monthly Open: 9447.2
Weekly Open: 9447.2



Current Price Zone: ACCUMULATION ZONE


Biggest Bitcoin Transaction of the Day**
1. 🚨6,000 BTC ($57,017,246 USD) transferred from Bitthumb ➡️ Unknown wallet 🚨
2. 🚨6,000 BTC ($56,837,567 USD) transferred from Bitthumb ➡️ Unknown wallet 🚨
3. 🚨2,898 BTC ($27,741,142 USD) transferred from Bitthumb ➡️ Unknown wallet 🚨

Largest Cryptocurrency Transaction Today:
🚨🚨500,000,000 ETH ($102,054,358 USD) transferred from Ripple escrow wallet ➡️ Ripple🚨🚨

Gold***: $1,741.33 USD +1.28 +0.07%
Silver***: $18.34 USD +0.01 +0.05%

——————————————————————————————————
*📈Support & Resistance📉: These are typically zones & not exact price levels depicted by the lines. Keep in mind that price may respect and repeatedly touch several times on smaller time frames.
**What you won’t see on exchanges: This is purely to reference that traders watching the charts are neglecting the ‘Transaction Sentiment’ of large (🐳 WHALE) transactions from wallet to wallet and OTC execution send transactions (new/old wallets). TIP: The amount/s transferred daily tells a story of flow to potential market dynamics that may transpire.
*** Personally I HODL Gold/Crypto over having a majority of Fiat currency 💸. Previously before trading crypto in 2015, Gold was one of my main charts thus I look at the price regularly comparative to Bitcoin.


Created & published by Des Landen
Landen International