๐ค #BTCLIVE - 27.08 ๐ค
๐ค #BTCLIVE - 27.08 ๐ค
TLDR:
Short-Term (<1 Day)
60:40- Bullish:Bearish
Mid-Term (<1 Week)
60:40
Bullish:Bearish
Long-Term (1 Month
70:30 - Bullish:Bearish
TECHNICAL ANALYSIS:
There are surprisingly a decent amount of bullish factors in play although there is a much larger bearish sentiment at play with Jerome Powells words still resonating and the additional FUD from the MT Gox Fake News turned the market bot below 20k Bitocin price and also below the critical
1T mark. In a macro sense on the 1 week chart the max pain price at the lower end of the descending wedge is looking a potential 16k which is looking a lot more realistic now that a week ago.
Currently it is a tough call with us sat right on 20k although leaning slightly towards losing it over the next 24 hours for some contuned pain for the bulls - It is looking like we will track down in this channel to around 19.6k before the next bounce or dump to a bigger bear target of 18.8k is still on the cards. Although we do see some quite unusual activity on Sunday's and a jump up out of this channel can also jump to 20.5k could be very realistic if only short lived.
Technical Analysis Bullish Factors:
+ Untested Daily POC line at 20.1k
+ Untested Weekly Pivot
+ Bullish Divergences coming in
+ Descending channel
+ New Weekly Pivot will likely be untested too at 20.5k region
Technical Analysis Bearish Factors:
- Lower Low
- Broke 20k support - big support
- Below all EMA's ad DEMA's
NEWS:
Bull:
+ Mt Gox news turned out to be fake
Bear:
- Fake Mt Gox Repayment News spread on Crypto Twitter, possible instigation of FUD
TLDR:
Short-Term (<1 Day)
60:40- Bullish:Bearish
Mid-Term (<1 Week)
60:40
Bullish:Bearish
Long-Term (1 Month
70:30 - Bullish:Bearish
TECHNICAL ANALYSIS:
There are surprisingly a decent amount of bullish factors in play although there is a much larger bearish sentiment at play with Jerome Powells words still resonating and the additional FUD from the MT Gox Fake News turned the market bot below 20k Bitocin price and also below the critical
1T mark. In a macro sense on the 1 week chart the max pain price at the lower end of the descending wedge is looking a potential 16k which is looking a lot more realistic now that a week ago. Currently it is a tough call with us sat right on 20k although leaning slightly towards losing it over the next 24 hours for some contuned pain for the bulls - It is looking like we will track down in this channel to around 19.6k before the next bounce or dump to a bigger bear target of 18.8k is still on the cards. Although we do see some quite unusual activity on Sunday's and a jump up out of this channel can also jump to 20.5k could be very realistic if only short lived.
Technical Analysis Bullish Factors:
+ Untested Daily POC line at 20.1k
+ Untested Weekly Pivot
+ Bullish Divergences coming in
+ Descending channel
+ New Weekly Pivot will likely be untested too at 20.5k region
Technical Analysis Bearish Factors:
- Lower Low
- Broke 20k support - big support
- Below all EMA's ad DEMA's
NEWS:
Bull:
+ Mt Gox news turned out to be fake
Bear:
- Fake Mt Gox Repayment News spread on Crypto Twitter, possible instigation of FUD
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