alanmasters

Bitcoin Moving Back Above EMA10... The Bulls Are Jumping Back In

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Lovely... This is exactly what I was looking for...
A bullish Bitcoin! ๐Ÿ˜

We use EMA10 as our main indicator to gauge bearish / bullish potential...

  • When prices move below this indicator, which is marked here with a green line, we switch our potential to bearish .
  • When prices go above it, we say that the bulls are getting the upper hand.

The retrace for Bitcoin started but we are patient and we wait...
After 4 red/ bearish candles, today we see prices moving back above EMA10.

Our targets remain the same as before.
First, we aim at $46,000, and depending on how this level is handled we might go beyond.

Conditions for change
If the bullish momentum is lost and prices reverse, BTCUSD would go lower than EMA21 and this time around hit EMA50 at ~$27000.

The daily candle is yet to close but the bullish action we are seeing now is reminiscent of what we've been seeing before...
Very strong growth, short-lived corrections/retraces... This is how Bitcoin goes!

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Namaste.
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