Bitcoin Monthly Bullish Falling Wedge (+Other Signals)

I am taking a quick look at Bitcoin’ on the monthly chart, let's take a read at some simple signals and one interesting fact... Hit LIKE to start reading and make sure to share your thoughts in the comments section below...

Let's get started.


Bitcoin’ Monthly Chart Bullish Signals

• We have the 'Falling Wedge' pattern which is bullish. Know that even though this is a bullish pattern it can break either way. A break of resistance is needed before this pattern comes into play.
  
  
• Bitcoin’ had 4 negative monthly candles in a row. This is the first time the BitFinex chart sees 4 negative monthly candles. Will Bitcoin’ go negative 5 consecutive months? Very unlikely... But we remain open to see it go UP! :D
  
  
• EMA50 holding as support. EMA50 is always a very strong support for Bitcoin’ as well as resistance. Price bounced from EMA50 and closed above it on the monthly candle. This price is very likely to hold and we expect a positive / green candle this month.
  
  
• Hidden bullish divergence on the STOCH indicator.
  
  
• First time STOCH hits oversold since 2015.
  
  
• RSI has hit its lowest level (Oversold).
  

Note: This is no trade advice. If you would like to see trades from me feel free to visit my profile.

If you do decide to trade on this information, make sure to use a stop loss. A close below $3657.6 on the monthly candle would invalidate this analysis. This can be your stop.

Thanks a lot for time and reading... Your support is truly appreciated... Make sure to hit LIKE before you leave.

Alan Masters here...

May your coming week be everything that you want, need or expect it to be and that you are filled with life, love and health...

Remember that you are a Unique and Special being and you will always DESERVE THE BEST!

Namaste.

Comment:

SHORTS continue to go up at record speed. The heard is on the SHORTS side... Which side will you choose?

Here is the chart:

- I marked the SHORTS ATH.
- You can see the red trendline which is very likely as far up as the SHORTS will go.
- There is also a very steep rising wedge which is bearish.

Thanks for reading.

Comment:

- SHORTS can also go for a double top before crashing down.

Comment:

Our RESULTS for some of our ALTCOINS trades today.

+12% CLOAKBTC

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+100% PMABTC

Comment:

LUNBTC (+20% for PREMIUM within 48 hours):

AIONBTC:

Comment:

Bitcoin (XBT) Price action update (4-Dec) now live:

Comment:

SHORTS are now dropping fast after reaching all time high.

Very steep trendline...