🤖 #BTCLIVE - 4.10 🤖
🤖 #BTCLIVE - 04.10 🤖
TLDR:
Short-Term (-1 Day)
40:60- Bullish:Bearish
Mid-Term (1 Week+)
40:60
Bullish:Bearish
Long-Term (1 Month+)
60:40 - Bullish:Bearish
OVERVIEW:
With no particularly crazy FED announcements this week and no BTC options expirations we should be in for a relatively low volatility week. 20k is looking particularly hard to break so I am expecting consolidation around this area to form a bit of a bullish pennant that is set up to fail unless it can start to trade and consolidate above 20k comfortably ie. at least a daily close above 20k.
The DXY has dropped alittle bit to allow this run up for BTC although is finding dupport on the 20DEMA there now so that might bounce and take BTC down with it. For general targets - breaking above 20.3k in order to see 21k although any higher than that is going to be a stretch which will fill the weekly pivot.
Breaking below 19.7k will likely see BTC reenter the high value area for continued ranging between 19k/18.8k to 19.8k. I am not hugely bullish atm.
TECHNICAL ANALYSIS:
BULLISH FACTORS:
+Broken out of 200EMA & 20DEMA
+ Broken up out of High Value Area
+ Lots of bullish news
+ Large unfilled weekly pivot area
+ Low value areas overhead
+ Broken Local Trendline resistance
+ Descending Wedge on the Weekly
BEARISH FACTORS:
- 50 DEMA Resistance Incoming
- Double Top
- Bearish Divergence
- High Volume Node Resistance
- Overbought on 1h RSI
- Key Overhead Resistance
NEWS:
Bull:
+ Russia allows international trade ing BTC and crypto for any industry
+ 🦄 Fashion brand Hugo Boss announces plans to launch its first-ever #NFT collection.
+ Argentina's state-owned oil & gas company is mining Bitcoin at one of the biggest oil fields in the co… t.co/EVhtV2HzEs
+ New York FED President John Williams says inflation will likely come down to 3% by next year.
Bear:
- Reserve Bank of Australia raises interest rates by 25bps to 2.6%, highest since July 2013.
- SEC fines Kim Kardashian $1.3 million for illegal promotion of crypto token [finbold.com]
cryptopanic.com/news/16502917/SEC-fines-Kim-Kardashian-13-million-for-illegal-promotion-of-crypto-token?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
Volatility
* UN Warns Fed to Cool Rate Hikes [cryptobriefing.com]
cryptopanic.com/news/16504347/UN-Warns-Fed-to-Cool-Rate-Hikes?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
* Financial Stability Oversight Council calls on Congress to create federal framework for #stablecoin issuers.
* Biden administration urges Congress to pass laws to clear up #cryptocurrency regulation.
TLDR:
Short-Term (-1 Day)
40:60- Bullish:Bearish
Mid-Term (1 Week+)
40:60
Bullish:Bearish
Long-Term (1 Month+)
60:40 - Bullish:Bearish
OVERVIEW:
With no particularly crazy FED announcements this week and no BTC options expirations we should be in for a relatively low volatility week. 20k is looking particularly hard to break so I am expecting consolidation around this area to form a bit of a bullish pennant that is set up to fail unless it can start to trade and consolidate above 20k comfortably ie. at least a daily close above 20k.
The DXY has dropped alittle bit to allow this run up for BTC although is finding dupport on the 20DEMA there now so that might bounce and take BTC down with it. For general targets - breaking above 20.3k in order to see 21k although any higher than that is going to be a stretch which will fill the weekly pivot.
Breaking below 19.7k will likely see BTC reenter the high value area for continued ranging between 19k/18.8k to 19.8k. I am not hugely bullish atm.
TECHNICAL ANALYSIS:
BULLISH FACTORS:
+Broken out of 200EMA & 20DEMA
+ Broken up out of High Value Area
+ Lots of bullish news
+ Large unfilled weekly pivot area
+ Low value areas overhead
+ Broken Local Trendline resistance
+ Descending Wedge on the Weekly
BEARISH FACTORS:
- 50 DEMA Resistance Incoming
- Double Top
- Bearish Divergence
- High Volume Node Resistance
- Overbought on 1h RSI
- Key Overhead Resistance
NEWS:
Bull:
+ Russia allows international trade ing BTC and crypto for any industry
+ 🦄 Fashion brand Hugo Boss announces plans to launch its first-ever #NFT collection.
+ Argentina's state-owned oil & gas company is mining Bitcoin at one of the biggest oil fields in the co… t.co/EVhtV2HzEs
+ New York FED President John Williams says inflation will likely come down to 3% by next year.
Bear:
- Reserve Bank of Australia raises interest rates by 25bps to 2.6%, highest since July 2013.
- SEC fines Kim Kardashian $1.3 million for illegal promotion of crypto token [finbold.com]
cryptopanic.com/news/16502917/SEC-fines-Kim-Kardashian-13-million-for-illegal-promotion-of-crypto-token?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
Volatility
* UN Warns Fed to Cool Rate Hikes [cryptobriefing.com]
cryptopanic.com/news/16504347/UN-Warns-Fed-to-Cool-Rate-Hikes?utm_source=notifications&utm_medium=webhooks&utm_campaign=telegram
* Financial Stability Oversight Council calls on Congress to create federal framework for #stablecoin issuers.
* Biden administration urges Congress to pass laws to clear up #cryptocurrency regulation.
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