BTC DAILY : 12/01/21 Should I Stay Or Should I FOMO?

BTC DAILY : 12/01/21
Should I Stay Or Should I FOMO?

Technical' s
5MIN: SELL
15MIN : SELL
1HR: SELL
4HR: SELL
1 DAY: BUY
1 WEEK: BUY
1 MONTH: BUY

Sell Walls
-
Buy Wall
28k to 30k - 3k BTC - Expected a large rejection here if dumps again

Volatility: Releaxed over past 24 hours and (fingers crossed is starting to accumulate bullishly again)

Dominance - Sub 70% which is good news although recent rise in Dom and drop in price which is bad news for rest of markets

ALTS: Recent Dom increase and BTC price drop is bad news for ALTS stabilisation here needed before over committing again in ALT markets

Local Support: 34.7k
Next Support: 34.8k
Next Support30.5k

Local Resistance: 36.6k
Next Resistance: 48.4k

Fundamentals:
- Mt.Gox 160k BTC Creditor Distribution rehab programme filed (Still Looming!!!)- Bearish
- New $2000 Stimulus Package Potential - Hugely Bullish
- Coinbase going Public - Big eyes on Crypto
- Pro Crypto appointment at the SEC - V. Bullish
- Institutional Investment continues - Skybridge Capital ($182 million in December) / MassMutual ($100 million in December) / Guggenheim (up to 10% of its $5 billion macro fund).
- A lot of media negativity being spread on BTC in UK and USA - Bearish
- Institutions not fazed by dump - bullish

Personal Opinion:

BTC is looking unpredictable - we are sat on a support with a lot of recent downward pressure. IT has bounced and held relatively well from the 30k region which is signifying alot of buy pressure - the strong Buy Walls around the 30k region is encouraging for another saftey net now should we lose this support at 34.8k .

There is a loose Head and Shoulders on the 1hr but I would not put my money on this - the 2 outcomes are we will lose this support and start to test 30k again.

Or similar to before there will start to be quite a rapid sustained drive back up to likely start testing the ATH again once accumulation is over.

No commitment to direction from me today.