Bitcoin Bounce Confirmed? 9K Possible, How & Why?

Bitcoin / U.S. dollarBitstamp

Description

⋅ Sep 28, 2019 11:50 PM

Bitcoin's (BTCUSD) bounce is starting to take form.

We can see a new higher high on the 4H timeframe, as well as a break above EMA10. This candlestick that is open now closes in a few minutes for confirmation.

Trading volume is low which is normal on a weekend/Saturday, but we can clearly see an ascending triangle (not drawn) and a broken bearish flag. These two are both bullish signals.

If BTCUSD remains above EMA10 ($8155) on this timeframe, you can expect for it to move higher...

Our last analysis mentions a potential bounce to 9k but... You can see it here:

Thanks a lot for the support.

Namaste.

Comment

⋅ Oct 1, 2019 6:15 PM

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Comments

WorldEconomics

⋅ Sep 30, 2019 5:44 AM

He said possible, not certainty. It fell and will continue downwards

SocialCryptopreneur

⋅ Sep 29, 2019 2:38 AM

@alanmasters - Appreciate the analysis - thank you. With the price being rejected at the 200DMA, is it possible that we could move up this quickly?

AlanSantana

⋅ Sep 29, 2019 2:49 AM

@SocialCryptopreneur, Not necessarily, just a possibility depending on how things go. This is short term and the chart is always changing.

Theperfectionist

⋅ Sep 29, 2019 10:39 PM

6000 would be the minimum for me if it keeps falling.

mr.bergan

⋅ Sep 29, 2019 4:05 PM

@alanmasters Three candles closed below EMA10... Is a bounce now less/not likely?

mr.bergan

⋅ Oct 1, 2019 1:15 AM

@MR.bergan, Never mind, looking good :-)

PonziTycoon

⋅ Sep 29, 2019 3:43 PM

Looks like your pennant broke and is going to the downside. After all, they are continuation patterns.

Confucius_The_Great

⋅ Oct 1, 2019 2:28 PM

@alanmasters hate when btc is moving like a drunk man. It gives me headache. And btc can always turn around on a plate at last moment. Question is - Is it even worth even trying to predict the short term when btc is so unpredicable? If i'm wrong please enlighten me. I'm trying to learn and I got much to learn. This is just what I feel right now. In a month I will be wiser and may have changed view.

Confucius_The_Great

⋅ Oct 1, 2019 2:29 PM

@Confucius_The_Great, I hate* - Thanks tradingview for no edit button as always @TradingView

Confucius_The_Great

⋅ Oct 1, 2019 2:25 PM

Hmmm..I think it is 2d or 3d time I look at this graph/trade idea...Now I spotted you are using the 4 hour chart Master...interessting...I guess it is a good timeframe to look at when we want to get signs of where BTC is going short term. Like daylie time frame vs weekly. Just 4 hourly in this case vs daylie.