Bitcoin Consolidation Zone -—— Stuck In The Middle With BTC ——-
3 Elements in the charts to discuss today:
-Outer Downward Channel
-Inner Upward Trend Line
-Inner Upward Channel
-Price Consolidation
Inner Perspective
It’s been a day since Bitcoin halving so the flippant price movement should subside due to media releases turning their attentions else where (click-baiting and throwing hate that Bitcoins doomed perhaps). Price currently finds itself in the consolidation zone from the start of May. Focusing on the inner downward channel P is sitting between the 75-100% zone and at the 25-30% zone of the upward channel. Regardless of this the consolidation area (Yellow Rectangle) needs to be broken above or below this of course brings P to different zones.
Area of Interest
Triangle price points are still in play and from open today have seen positive P action. A break of the outer downward channel trend line would be great throwing the momentum behind the bulls to recon tent with the 10,000 mark. As the days trickle by the triangle tightens so if P can’t break prior watch for a pop.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 8441.6
2nd Support Zone: 8159.3
3rd Support Zone: 7734.0
Resistance Levels:
1st Resistance Zone: 9172.9
2nd Resistance Zone: 9567.4
3rd Resistance Zone: 9987.7
Price Level Consideration
Approximate Days Until Halving: 1375 Days 3 Hrs 30 Mins 35 Secs Pending Timezone
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: 8629.2
Weekly Open: 8721.5
Current Price Zone: ACCUMULATION ZONE
Bitcoin to Date
Daily
Current Price: $8931 USD
Daily Change %: +3.15%
Market Cap: $164,135,660,150.00 USD
24 Hour Volume: $65,482,648,923 USD
Population of the World: ~7,784,000,000+ humans
Today’s Bitcoin Total / World Population: ~ 0.002360757708119 Satoshi’s / $21.08 USD per person
Overall
Approximate Bitcoin in Circulation: 18,376,138 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,623,863 BTC
Road to 21,000,000 Bitcoin Mined: 87.51%
Current Bitcoin Dominance: 67.95%
Biggest Bitcoin Transaction of the Day**
1.🚨5,000 Bitcoin ($44,027,140 USD) transferred from Bitfinex ➡️ Unknown Wallet
2.🚨2,920 Bitcoin ($25,696,847 USD) transferred from Binance ➡️ Unknown Wallet
3. 🚨2,262 Bitcoin ($20,209,914 USD) transferred from OKEx ➡️ Unknown Wallet
Largest Cryptocurrency Transaction Today:
🚨🚨5,000 Bitcoin ($44,027,140 USD) transferred from Bitfinex ➡️ Unknown Wallet🚨🚨
Gold***: $1,703.31 USD -$0.71 -0.04%
Silver***: $15.53 USD +0.05 +0.35%
——————————————————————————————————
*📈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.
-Outer Downward Channel
-Inner Upward Trend Line
-Inner Upward Channel
-Price Consolidation
Inner Perspective
It’s been a day since Bitcoin halving so the flippant price movement should subside due to media releases turning their attentions else where (click-baiting and throwing hate that Bitcoins doomed perhaps). Price currently finds itself in the consolidation zone from the start of May. Focusing on the inner downward channel P is sitting between the 75-100% zone and at the 25-30% zone of the upward channel. Regardless of this the consolidation area (Yellow Rectangle) needs to be broken above or below this of course brings P to different zones.
Area of Interest
Triangle price points are still in play and from open today have seen positive P action. A break of the outer downward channel trend line would be great throwing the momentum behind the bulls to recon tent with the 10,000 mark. As the days trickle by the triangle tightens so if P can’t break prior watch for a pop.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 8441.6
2nd Support Zone: 8159.3
3rd Support Zone: 7734.0
Resistance Levels:
1st Resistance Zone: 9172.9
2nd Resistance Zone: 9567.4
3rd Resistance Zone: 9987.7
Price Level Consideration
Approximate Days Until Halving: 1375 Days 3 Hrs 30 Mins 35 Secs Pending Timezone
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: 8629.2
Weekly Open: 8721.5
Current Price Zone: ACCUMULATION ZONE
Bitcoin to Date
Daily
Current Price: $8931 USD
Daily Change %: +3.15%
Market Cap: $164,135,660,150.00 USD
24 Hour Volume: $65,482,648,923 USD
Population of the World: ~7,784,000,000+ humans
Today’s Bitcoin Total / World Population: ~ 0.002360757708119 Satoshi’s / $21.08 USD per person
Overall
Approximate Bitcoin in Circulation: 18,376,138 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,623,863 BTC
Road to 21,000,000 Bitcoin Mined: 87.51%
Current Bitcoin Dominance: 67.95%
Biggest Bitcoin Transaction of the Day**
1.🚨5,000 Bitcoin ($44,027,140 USD) transferred from Bitfinex ➡️ Unknown Wallet
2.🚨2,920 Bitcoin ($25,696,847 USD) transferred from Binance ➡️ Unknown Wallet
3. 🚨2,262 Bitcoin ($20,209,914 USD) transferred from OKEx ➡️ Unknown Wallet
Largest Cryptocurrency Transaction Today:
🚨🚨5,000 Bitcoin ($44,027,140 USD) transferred from Bitfinex ➡️ Unknown Wallet🚨🚨
Gold***: $1,703.31 USD -$0.71 -0.04%
Silver***: $15.53 USD +0.05 +0.35%
——————————————————————————————————
*📈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.
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