Bitcoins Potential POWER PLAY Into End Of Q2

28 May 2020

Nice push to the upside, with Bitcoin back in the inner upward channel after 2 daily valuable Bullish movements. Earlier this week I wrote about the grasps of the downward channel’s grips. Let's see if Bulls can push above 9660 to close above the bodies off the weekly chart giving the market confidence into the last month of Q2



Area of Interest
After open today, Bulls need to keep Bitcoin around this area for the next 3 trading days to close out this month in a positive area. This will give Buyer confidence as stated above to close out Q2 with a bang and really give 10k a dedicated battle.

In Bulls favour:
Broken above the inner downward channel:


Back within the inner upward channel:


The most important POWER PLAY is that Bitcoin needs to Push with a lot of momentum into and through 10k. And breach above this to use as support. We’ve seen it be rejected numerous times. To reiterate its imperative the this push makes a point of ‘we are here now’. Will watch the close of the month and anticipate what the close of Q2 brings



Happy Trading

Bitcoin to Date
Daily
Current Price: $9,503.0 USD
Daily Change %: +3.18%
Market Cap: $168,626,078,887.50 USD
24 Hour Volume: $32,870,878,272 USD
Population of the World: ~7,787,605,143+ humans
Today’s Bitcoin Total / World Population: ~ 0.00236109569789 Satoshi’s / $22.43 USD per person

Overall
Approximate Bitcoin in Circulation: 18,387,281 BTC
Approximate Bitcoin Mined Last 24hr: ~ 900 BTC
Approximate Bitcoin Left to Mine: 2,612,719 BTC
Road to 21,000,000 Bitcoin Mined: 87.56%
Current Bitcoin Dominance: 69.82%



📈Support & Resistance📉*
Support Levels
1st Support Zone: 9176.9
2nd Support Zone: 8767.1
3rd Support Zone: 8413.8

Resistance Levels:
1st Resistance Zone: 9752.9
2nd Resistance Zone: 10008.0
3rd Resistance Zone: 10407.2



Price Level Consideration
Approximate Days Until Halving: 1444 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: 8629.2
Weekly Open: 9667.4



Current Price Zone: ACCUMULATION ZONE


Biggest Bitcoin Transaction of the Day**
1. 🚨2,002 BTC ($18,304,288 USD) transferred from Coinbase ➡️ Unknown Wallet 🚨
2. 🚨2,000 BTC ($18,503,987 USD) transferred from unknown wallet ➡️ OKEx 🚨
3. 🚨1,813 BTC ($17,054,917 USD) transferred from Binance ➡️ Unknown Wallet 🚨

Largest Cryptocurrency Transaction Today:
🚨🚨100,000,000 XRP ($19,796,355 USD) transferred from Ripple Escrow ➡️ Ripple 🚨🚨

Gold***: $1,720.27 USD +10.57 +0.62%
Silver***: $17.39 USD +0.14 +0.80%

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*📈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