Another week where BTC is teasing the 20k resistance with much wondering if it will break 20k before 2021.
Overall:
- BTC is currently in a wedge with a top at 20k.
- Bitcoin is testing 20k again and is unlikely to break it before 2021
- if it does, target resistance at 23-25k
- Institutions are accumulating BTC but supply is limited (due to recent halvening)
- Altcoin may see moves in December BTC not making major moves into 20k territory
- Most youtubers are not trading until BTC has decided to go above 20k or drop to retracement levels.
Here's this week's YouTuber's round up summary:
- Negative divergence (corrective structure forming)
- once correction is done, BTC will start moving towards wave 3 target
- Wave 3 target at 23k (1.6 fib)
- Oct to dec was very bullish (cus of "halloween effect")
- Altcoin dominance may be popping off a support point (Descending wedge)
- Bitcoin is bouncing of support trend. Institutions are buying up each dip
- Greyscale has 13B of crypto in management
- There's no lack of demand... but there's a lack of supply.
- Crypto is booming in Argentina
- Launching a defi service (Digifox)
- BTC recovered from last week's drop to 17.6k
- Retracement could be coming
- Not closing above 20k shows weaknesses
- Feeling overextended with BTC
- BTC dominance is feeling weak
- Feel fake out to 19.9 and dump.
- Going back into passive income
- back up at 19k, signs of strong hands and HODLers
- last week's sell off's narrative was from Mt Gox's news and fear of sell offs
- FOMO is coming back. 5X back at 20k
- Christmas is coming, holiday effect could be the fuel for retail interest
- Apple is allowing apple pay to buy BTC
- China's digital currency (DCEP) is being pushed hard in China. Used at JD ecommerce site
- BTC dominance is at a resistance at 64%
- Been rejected at 64% time and time again, good chance for rejection and Alt season
- CryptoQuant is showing that people are still holding BTC despite BTC price dropping last week.
- BAND USD has inverse head and shoulder
- SXP USD has inverse head and shoulder
- ATOM BTC is at support line
- CEL USD bullish triangle
- BAND is outperforming LINK, against BTC price
Disclaimer: The notes above are the blog author's summary of different crypto YouTubers picked for contrasting points to give a more comprehensive picture. Their points and the summary provided should not be taken as investing advice. Summary only covers what's important to the blog poster (listening at 2x speed). Crypto space is volatile, do your own research and consult an investing adviser for professional advice.