Bitcoin (XBT) Challenging EMA300 | Can Lead To $8,111+ Long

Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX

Description

⋅ Jan 6, 2020 5:46 PM

For Bitcoin (XBTUSD) on the 4H timeframe, the EMA300 line has been working as a very strong resistance and support level.

Notice this chart... Left side:

When EMA300 was conquered a massive jump in prices followed.
XBTUSD is now trading above this same level and trying to remain above it. If it can remain above, we can expect a huge jump in prices.
The MA200 line, black, is now fully conquered and will work as support if Bitcoin moves lower.
The indicators, RSI and MACD, both are positioned in a way that easily supports additional growth.

Here for the longer-term perspective/view with a $48,000 target for Bitcoin:

Thanks a lot for your support.
Remember to hit LIKE or leave a comment if you have any questions or something to share with us.

This is Alan Masters.

Namaste.

Comments

darkpiggie

⋅ Jan 6, 2020 6:05 PM

We are right now hugging the neckline of the head and shoulders, I think it's about to explode pretty soon.

darkpiggie

⋅ Jan 6, 2020 6:06 PM

@darkpiggie, inverse head and shoulders obviously

AlanSantana

⋅ Jan 6, 2020 6:07 PM

@darkpiggie, That would be great, I've been waiting for it. :)

darkpiggie

⋅ Jan 7, 2020 8:45 AM

@alanmasters, It did fortunately, but now it's hugging the channel line.Given the high RSI levels it doesn't look like there is room for a breakout out of the channel. Let's wait and see :)