The DecenTrader Alpha
GM. Bitcoin is back up above $40,000 after this weeks drop. Predator is turning bullish on lower timeframes for both Bitcoin and Ethereum. The US Government plans to sell $117 million worth of Bitcoin from Silk Road.
Past 24hr performance
What Just Happened
- US Government intends to sell $117 million of Silk Road Bitcoin.
- Bitcoin ETF’s likened to slow burning rocket fuel.
- JP Morgan states Grayscales GBTC profit taking likely over now.
- SEC delays decision on Grayscale proposal for Ethereum ETF.
What’s Happening Now
Bitcoin is up 0.46% in the past 24hrs at a current price of $40,131. It is down -5.07% so far this year.
Bitcoin: Predator Thermal Vision is turning bullish on lower timeframes.
Ethereum: Predator Thermal Vision bullish on all lower time frames but remains red on 12H, 1D, 3D.
Sniper tool overview – key support and resistance levels
Bitcoin has trended back up to the Sniper mean reversion line. Near-term resistance is up at $42,060 while support below is at $38,260 and $37,150 levels.
One’s To Watch – Commando Intelligence Top Scorers:
Chiliz (CHZUSD) is the top scorer with a Commando score of 3 and it is bullish on both Predator 30M and 1H timeframes.
See our tweet post about Chiliz that went out moments ago with potential resistance levels highlighted on the second tweet.
What’s Next
3-Day Predator Trend outlook:
The 3-Day Predator chart is RED on the current candle. This shows that near term risk remains currently for Bitcoin.
In the macro calendar next week:
Tuesday, January 30:
- Eurozone: Preliminary GDP data for the 4th quarter will be released.
Wednesday, January 31:
- US: The Federal Reserve (FOMC) meeting.
- China: Manufacturing and services PMI from the China Federation of Logistics and Purchasing (CFLP) will be released.
Thursday, February 1:
- UK: Bank of England (BoE) meeting will take place.
