AlanSantana

Bitcoin's Next Move (Short Term Keeping It Simple) Altcoins (IN)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I will make it really simple for us (me and you) right now. Here is how this works... But wait, make sure to hit like before we get started... Ok, thanks a lot for the support, let's continue!

We have been looking at EMA100 as main resistance, which is the blue line that has rejected Bitcoin's growth several times in the recent past.

Looking at this moving average, we can come up with a few simple scenarios:

1) If EMA100 can be conquered, a close above it with good strength and volume . Bitcoin moves up and challenges the next resistance at $4300. If this one can be broken then $4640 is next.

2) If EMA100 can't be broken, Bitcoin goes back down to test EMA10/50.

Pretty simple.

My view: Volume is starting to grow on a Wednesday. The daily candle still has 11 more hours. So there is a big chance that Bitcoin can break EMA100 and continue with its move up, but instead of guessing, we will let the market decide.

The RSI is really bullish now sitting at 60 and going higher.


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This is Alan Masters.

Namaste.
Comment: Bitcoin Update:
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