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Alanmasters

Dogecoin (DOGEUSD) Peaked!? Are You Ready To Feel The Crash?Looks like Dogecoin (DOGEUSD) has gone up for a while now printing massive growth... We have multiple bearish signals starting to develop on this chart. Today, we can see DOGEUSD moving below EMA10.
 EMA21 has already been tested as support... The next time it is hit it is likely to break. We have bearish divergence with the RSI, same on the weekly timeframe. Where is the next support? First, we look for $0.294 followed by $0.193... How far down can it go if it does crash? This can vary depending on how the market behaves, the bearish signals can even be invalidated... With that said, when I look at DOGEUSD weekly, prices can drop as low as $0.09 but it is too early for that... Let's continue. The daily MACD: And the RSI (bearish divergence and broken trend line support): We will see Bitcoin move higher as Dogecoin corrects and move lower. That's my prediction... What's yours? Share it with us in the comments section below. Alan Masters.
 This is not financial advice. Namaste.
BITTREX:DOGEUSDShort
by AlanSantana
Dogecoin (DOGEUSD) Analysis 4h Timeframe (Feel The Crash Pt.2)We looked at Dogecoin (DOGEUSD) on the daily timeframe; many bearish signals starting to develop. Today, we are going to be looking at the 4h timeframe where we can gain additional information as to what is going on with this market/pair. First, we notice how DOGEUSD went to test EMA200 as support after breaking below EMA100 back in April. This same scenario can repeat in the coming days. Now, we can see prices trading below EMA50 and also EMA100, which is the blue line on the chart. If prices close below EMA100 or $0.4625, this can lead to lower prices. The next support level will be sitting first at $0.3662 followed by $0.301 or EMA300, which is equivalent to EMA50 daily at around $0.29/$0.30. This is no big deal. Market corrections are normal and see what happened back in April. After EMA200 was tested as support, DOGEUSD bounced and continued on its way up. Right now we have the RSI becoming weaker than it was before. The MACD is below zero and showing a bearish cross. The current 4h candle is still active and its price can reverse... We stay bearish on this pair below EMA50 ($0.5132), we expect lower prices unless the market conditions change. We are aiming lower... What's your take? Share with us in the comments section below. Namaste. P.S. Check the related trade ideas below for past charts on DOGEBTC.
BITTREX:DOGEUSDShort
by AlanSantana
1
No Signs Of Stopping | Ethereum To $4,444+ Or $5,000+ ??? EtherEthereum (ETHUSD) continues with its very strong bullish bias and price discovery action... How much higher can it go? Everything continues to point higher. More and more adoption news, events taking place. More companies integrating cryptocurrencies into their platforms. Something many believed was impossible just a few months ago. We held through the entire bear market. We continued to be positive, we fought, we cried, we lost... Now, we are rewarded a 100 fold. We trusted the market, our feelings, the charts, the signals, the vision, the dream... Everything that crypto was promising has become true and the market continues to evolve. We could not predict NFTs nor DEFI, but these are also growing and there will definitely be more. Innovation is what this market is now becoming known for. Ethereum is showing no signs of stopping... Let's see how far up we can go. The targets are mapped on the chart. What's your take... Correction or more growth? Share in the comments with us. Namaste.
BITSTAMP:ETHUSDLong
by AlanSantana
1
The Bitcoin Trip! + Altcoins There you have it folks, just a small correction (ending in a higher low) and Bitcoin resumes growing... Once more showing that Patience is the key. This is not set in stone though, nothing is specially when looking at charts, they are always changing. Our main support on the 4h timeframe based on my previous analysis is set at $55,000, this is our main level. We continue strongly bullish above $55,000 but we also stay bullish above $50,000 and $48,000 and even $35,000+ depending on the timeframe. This one here is for short-term. 
 Long-term Bitcoin is ULTRA BULLISH, without a doubt.
 Mid-term Bitcoin is SUPER BULLISH, for sure. Short-term Bitcoin is battling the bears, consolidating while trying to go up (mixed but favoring the bulls). How far do you think prices will reach on this Bitcoin trip? I mean, I remember saying myself that Bitcoin would retrace when it was $15,000... "It doesn't matter what happens, it has to retrace". We are seeing a lot of the same today. Many people are declaring that Bitcoin must go down just because a certain price is hit... This has now been confirmed as untrue, as BTCUSD looks better and better every week. Keep in mind that the charts are always changing; 
We do not trade here, we focus on the altcoins. We focus on high potential rewards and low risk. But you can trade any pair, any chart, if you have a plan to help you succeed. The Altcoins are also growing... Today we have trending, XVG and ETC vs BTC. There is so much more of course... Which of your favorite altcoins you want me to share this week? Leave a comment and we will see. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin | Multiple Timeframes (1H, 4H, Daily & Weekly)We've been waiting for Bitcoin to move up since we saw Ethereum going ahead... We feel confident that it will follow and also hit a new All-Time High. The chart is once more starting to look good. We will focus on the signals... Bitcoin Daily (D) Timeframe (BTCUSD) We start with the daily timeframe, here is the chart: First, we can notice prices moving above EMA10, EMA21, and EMA50. EMA50 is a strong one now sitting at $54915+. Bitcoin trading above this level is strongly bullish. Below signals bearish. Daily candle closure above this level is needed for confirmation. The RSI is strong above 50 and we have a bullish cross on the MACD. All the classic signals in place but some still developing. We also have a falling wedge and an inverse Head & Shoulders pattern, all these points higher. Bitcoin 4H Timeframe On this timeframe, 4 hours per candle, we can see BTCUSD moving above all of the EMAs. MA200 is the black line. We are strongly bullish above this level. This also happened after a higher low with bullish indicators, the signals are telling us that we should see GREEN. Bitcoin 1H Timeframe Finally, the 1H timeframe, here we can see the pattern that is pointing to straight up. Bitcoin Weekly (W) Timeframe We can see BTCUSD moving back above EMA10. The weekly timeframe closes in just 2 days. Closing bullish would mean that we had very little to no retrace. Now, when prices start moving higher... What's your target? I am now aiming at $80,000 followed by $100,00K What Do You See For Bitcoin's Future? We see bullish Bitcoin in 2021 and beyond. We are seeing bullish long-term longer than most people expect. Things will not be what they feel like. Things will look and feel bad in some ways but turning good in the core. The good will bloom and shine. Cryptocurrency will help us level out the upcoming financial disaster that the conventional markets will be facing. Leave us a comment with your views, thoughts, and opinions on this. I love you now, forever & always. Thanks a lot for your continued support. This is Alan Masters. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Ethereum Can Easily Hit $3250 Daily If The Final Upgrade From...What is happening with Ethereum (ETHUSD)? This chart is looking weak or strong? Ethereum has been growing massively and this is great news for the entire cryptocurrency markets. It is great when Bitcoin grows but it is also good to see the Altcoins do great... Feel free to hit LIKE now and let's get to the ETHUSD chart. Ethereum vs the U.S. Dollar The resistance is now set at $2750 - $2800; I came here because I saw the potential for a bullish breakout and wanted to let you know. 📊 Above $2800, ETHUSD can make a quick and strong jump to $3250 or more. Conditions for change If the bears jump in and the bullish momentum is lost, support can be found first at EMA10 now sitting at $2560, this would be our main daily support. If this level breaks, we look for $2150 as the next support (EMA50). Any trading above EMA10 and we are STRONGLY BULLISH ON ETHUSD. Remember what I shared in my previous analysis... Bitcoin is very likely to follow Ethereum and hit a new All-Time High, soon! What's your take? LEAVE A COMMENT! Namaste.
BITSTAMP:ETHUSDLong
by AlanSantana
My Trading Explained! Frax Share (FXS) | Let's Try Again!The chart we shared for Frax Share (FXSBTC) went bust... Ouch! But this is no big deal, this is normal... Some we win, some we lose... Wait, it is a bit more complex than that. We need to use a stop-loss and also have a well-developed plan before trading. (To increase potential wins and reduce potential loss) If one of our trades fails, we lose 10%, 20%, or maybe even up to 30% but, when our trades do good we go for 50%, 100%, 300%, and even 400/500%+ on some trades. (This takes time, some trades can take up to 6-8 months to fully develop, patience is key) RISK/REWARD. We go for low risk with high potential reward. Now, FXSBTC went down and closed below support. This is negative but can also be a plus. Yesterday, we had a reversal candle show up. Today, prices are starting to grow strong. With high volume and the RSI curving up, this can turn into a strong move and we see FXSBTC reverse from bearish (down) to bullish (up). Even with the information you just read above, make sure to do your own research before trading, study, take your time, diversify... Just as we can win, there can also be loss. This is not financial advice. Thanks a lot for your support. Namaste.
FLong
by AlanSantana
1
Ethereum (ETH) Moves Ahead, Back Above EMA10 +Altcoins UpdateEthereum (ETH) Moves Ahead, Back Above EMA10 +Altcoins Update Ethereum (ETHUSD) peaked 16-April reaching a new All-Time High, what followed was a sudden but fast correction that took prices all the way down to EMA50 on a wick... Let's see what happens next. Ethereum Bullish Chart Signals @alanmasters Yesterday we saw ETHUSD bounce off the EMA21 line to close daily above EMA10 ($2294), this is a bullish signal. The short-term potential of any altcoin trading pair can be determined depending on where the current active candle is trading compared to the EMA10 indicator. Above EMA10 we are bullish. Below EMA10 we are bearish, but this is only short-term. We also have a very strong RSI above 62 and the MACD on the bullish side as well. We have an ascending channel/higher highs and higher lows. The altcoins market, in general, continues to do great, we've seen some short corrections, small retraces, just like Bitcoin did in 2020. After these small corrections and retraces, we continue growing more and more. This is expected to continue for the entire year of 2021 and beyond. What's your take? Both Bitcoin & The Altcoins Market will continue blessing us with tons of opportunities. It is a great time to be trading altcoins now. Remember that patience is key. Thanks a lot for your continued support. Namaste.
BITSTAMP:ETHUSDLong
by AlanSantana
1
Are You Scared? We Are Talking Bitcoin, Relax!We have countless days of bullish action and we all jump and rejoice... We continue with a bullish market and we all enjoy the profits, the growth, and the fun. We get one red day and we call it the end of the of it all... Remember, patience, Bitcoin is moving back up. Bitcoin Recovers? Looking at the 4H timeframe so far we have a "V-shaped" drop and also a strong bounce, these signals can tell us of a potential recovery. Prices moved below EMA300, the grey line on the chart, just to quickly move back up. This can be seen as a strong shakeout, a long-squeeze, a correction, etc... The important part is to see prices resume growth. The signals are good so far. If we look at the daily timeframe, Bitcoin remains trading above EMA50 which is good. If this level breaks, then bullish bias can change. For now, Bitcoin continues to look great. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
2
Bitcoin Monthly | Please Explain $100,000, $140,000 & $165,000!This is the monthly chart for BTCUSD (Bitcoin) which shows the bulls in full control. First, we use EMA10 as a gauge of bullish/bearish potential for any altcoin trading pair. Above EMA10 for us equals bullish. Below EMA10 for us equals bearish. Right now, Bitcoin is trading safely and strongly above EMA10, keeping the potential towards the bulls. The immediate resistance is set at $65,000 on this timeframe based on my Fibs. We follow up with $80,000 and here we have $100,000 all the way up to $165,000+ as potential targets. In general, the idea is that the market can always change... That's the charts are always changing and we can only prepare based on what is happening rather than act based on what we think will happen. What is happening here is that Bitcoin continues higher and is aiming for more. This chart here is pretty clear, we have been having strong bullish action but prices can continue to grow. We do not see any downward pressure... We are not testing any new support. Instead, Bitcoin continues moving higher, we are now facing resistance again and as soon as the resistance is broken, the Bitcoin price continues its run. How long will this go for? I honestly don't know. But as we break above $80,000, we are very likely to hit $100,000+ That would be great, wouldn't it? Let me know in the comments section. Thanks a lot for your support. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin Weekly Closes Bullish | Altcoins vs Bitcoin Short-TermThe weekly candle is now complete and we have a bullish close at $59016.39 for BTCUSD. Last week closed higher than the 15-Feb. week where Bitcoin hit its previous All-Time High. The current All-Time High on this exchange (BitStamp) is currently set at $61781.83, hit on the 13th of March. As Bitcoin grows, the Altcoins market is also doing great and showing positive numbers. We stay bullish, always, above EMA10. Bitcoin weekly, BTCUSD (W), hasn't tested EMA10 as support since October 2020. Currently, EMA10 is sitting at $47425. The next resistance weekly is set at $65,000 short-term followed by $73,000 and $80,000 if the bulls can stay on top. $100,000+ is still in the cards... Fiat money printing is set to continue and thus cryptocurrency (Bitcoin/Altcoins) is positioned for massive growth. This is not a prediction of future events, Bitcoin has grown by 14X since last year or more. The altcoins are also growing, some are doing really good with 20X+... This is only a small portion of course, but we don't see this type of action when the bears are in control, we only see this in a bull market. What About Altcoins vs Bitcoin Short-Term? Many of the Altcoins vs Bitcoin pairs had already an initial breakout and a secondary jump, many are ready to print a strong correction/retrace. Please keep in mind that it is completely normal to see this happen. You can see corrections of 30%, 40%, and 50%+... But some of these altcoins have been growing for months and by 100%, 200%, 300%, and even 500% or more. If you are trading, focus on the pair and timeframe you are looking at, let the other things go. Extract the numbers and start to trade... Adjust based on the results. It doesn't matter what really happens, we need to sit back and watch, after having our plan, to see what will really happen with any open trade. Since we calculated the potential risks as well as profits, there is no surprise for us. The cryptocurrency markets are set to continue growing... This is Alan Masters. Thanks a lot for your support! Namaste.
BITSTAMP:BTCUSD
by AlanSantana
1
Bitcoin Is Doing It Once More, Shady Price Action + Multiple TF We are right where we started back when Bitcoin was at $15,000 USD... The market looks overbought but the Bitcoin price continues to increase. Let's have a look at the shady price action: First, looking at the 1H timeframe, we have these steep drops that are quickly bought up, as if some magical entity/ies is trying to shake people out of their Bitcoins. We have that strong bullish chart but the uneasy feeling that a drop can happen anytime... But it isn't happening. A look at the 4H timeframe and we can see prices remain trading above EMA10, Bitcoin's potential remains favoring the bulls (GREEN), see the chart: The last time EMA21 was hit on a wick and prices closed back above EMA10, we saw a new high being hit... This scenario can now easily repeat. Finally, when we look at the daily timeframe, we can see a long lower wick/shadow on today's candle while prices for BTCUSD continue to trade safely above EMA10 while challenging resistance... The longer the resistance is challenged, the weaker it becomes. The "Stimulus Pump" has been activated... All that is left now is to be patient... Be prepared and secure/enjoy the profits as they come. This is Alan Masters. Thanks a lot for your support. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin Stimulus Pump To $63,000-$65,000 Back OnTrack + AltcoinsThe "Stimulus Pump" is real and it is now being felt on the Bitcoin's price. Ever since the 1.9T Covid checks were approved this past weekend, we have been seeing the bulls jumping back on top. Now that the news is in, prices are starting to go back up. The last high is the next resistance at $58,350 but we can go higher based on the short-lived retraces and the massive bullish action taking place between Bitcoin and the Altcoins. Bitcoin @$65,000+ Again Possible! We have seen bullish the entire year. We saw the Altcoins grow since late 2020 and beyond. Altcoins Market Update We continue to be highly profitable and strongly bullish on all Altcoins. Notice how Bitcoin's price continues to change, up and down, down and up, yet we continue trading, holding, collecting profits, every day no matter what Bitcoin does. The market is always moving... Prices will always be fluctuating back and forth. The important part to be successful is to have a strategy preplanned, be prepared... The rest is just waiting for the market to jump. We can expect even more bullish action coming from the altcoins... We can expect even more bullish action coming from Bitcoin... We can expect the entire Cryptocurrency market to continue to grow. Feel free to leave a comment with your questions. Remember to hit LIKE! Thanks a lot for your support. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
7
Ethereum (ETH) Below EMA10 Weekly, Lower Prices Coming...Just like Bitcoin, Ethereum (ETHUSD) will also resume growing but only after seeing lower prices. It is normal to have a correction after such strong bullish action. Here we can see that ETHUSD is already trading below EMA10 weekly, sending out a strong bearish signal. (Note: Candle closure later today is needed for confirmation of this signal. ETHUSD most close below $1361 to confirm the bearish potential). After we test EMA21 at $1050, we can see a bounce before lower prices. The RSI has been trending lower strong and this week we have a full bearish candle. We also have a volume breakout favoring the bears. Visit my profile for the Bitcoin (BTCUSD) daily analysis as well. Thanks a lot for your continued support. Namaste.
BITSTAMP:ETHUSD
by AlanSantana
Look At The Bright Side, Bitcoin Going To $65,000+ After HittingLet's look at the positive side and hit like... Bitcoin is bearish after some really strong bullish action, but this is just a healthy correction taking place. Yes, we see Bitcoin going lower since the 22nd of February but the trading volume is low and we continue bullish mid and long-term. We are likely to see prices bounce to ~$50,000+ when EMA50 (~$40000/$41500) is hit. Then we can have another bearish leg before the Bitcoin price can continue to increase. At EMA100 we can fully reverse, what's your take? Remember you can leave a comment if you have any questions or anything to share. This is Alan Masters. Thanks a lot for reading. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
$60,000 or $65,000 Bitcoin Today? Can Go Higher!The excitement starts early today for Bitcoin (BTCUSD) with prices already reaching new highs. How far up can we go today? Since 5-Feb., we have $65,000 as our main target. You can see it below: And here: But, we are already past $56,000 and bullish momentum is only building up. We are very likely to hit $60,000 next. We are going to $65,000 in just a matter of days... What's your take? Feel free to hit LIKE and leave a comment now... Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Will Bitcoin Retrace? If Yes, By How Much?These are the questions that I am now getting very often... If Bitcoin will retrace, how far can it go? The potential targets we look at are based on the timeframe we are reading... Even though we have a very strong bearish candle today, with really high volume... It is still very early on this move, here is the daily (D) chart for BTCUSD: We have today's bearish candle with a long lower wick. Yesterday's candle supports today's bearish bias. We have really high red volume... Prices remain above EMA10. The uptrend is intact. As you can see, it is still VERY EARLY in this current move with mixed signals based on TA. But if we study the previous corrections and retraces, we can see that Bitcoin tends to test first EMA21, EMA50, and EMA100 after breaking below EMA10. These levels coincide with the Fib. retracement support for the entire bullish wave starting back in March 2020. These levels go as follow: 0.382 = $23200 (Matches EMA10 weekly) 0.5 = $19617 (Matches EMA21 weekly) 0.618 = $16034 (Just below EMA21 weekly) It is too soon to tell on the daily timeframe so let's look at the 4H chart. We will wait for a few more candles on this one and then share a new analysis. The 4H timeframe is the main chart above. Here we can appreciate the bearish bias more easily, the signals go as follow: Prices broke and closed below EMA10 and EMA21. EMA50 challenged on a wick. On this frame, prices can test up to MA200 and EMA200 as support, this is sitting around $24400 and $23100. MACD histogram goes red while trending lower. RSI breaks below 50 sending out a bearish signal. In conclusion, we are aiming lower short-term. Conditions for change This can change if we see Bitcoin (BTCUSD) MOVE AND CLOSE ABOVE EMA10 on the chart above. This would invalidate the bearish signals/bias and put the bulls back in control. This is a short-term analysis... Later on, I will share more when the daily candle closes and we get a better picture of how things will go. If Bitcoin decides to take a break, this is great news... The altcoins will then grow strong . Remember to hit LIKE! Namaste.
BITSTAMP:BTCUSDShort
by AlanSantana
Bitcoin | The Last Bullish Monthly Candle? Peak At $46k or $73k?In the Spirit of 2021 and Bitcoin hitting a new high daily... HIT LIKE before getting started! Thanks a lot for your support. We are likely to be witnessing the last monthly bullish candle before Bitcoin starts to retrace... How far up will it go? Looking at our Fibs. on this chart, based on the monthly timeframe, we have the following resistance levels coming up next: 1) $36200 (very close) 2) $40700 3) $46400 (Golden ratio, Potential peak/top) 4) $62970 5) $73200 (Secondary potential peak/top) Predicting how far up it ends up going is really hard, only the market makers really know but we can make an educated guess... First thing, we are likely to wick out. Looking at past history, the final jump is always very strong. Looking at recent action, it can go way longer, further, higher, and be stronger than anyone knows... For now, my main target on this chart is set at $46,000... We can extract more numbers after this level is hit if it is hit. But currently, we surely have room for additional growth. The TD Sequential started a new count but after the positive 9, we tend to get a long wick on a new #1 candle and then a retrace... This is shown in the monthly analysis I shared multiple times before. Here is the previous analysis based on the monthly timeframe and the TD Sequential... Hit PLAY and read it to get the bigger picture: Bitcoin Monthly $300k | TD Sequential (8+9 = 1 = Higher High) Thanks a lot for your continued support. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
1
Is Bitcoin Going Back To $28,000? Short-Term (1H Timeframe)Wait... Don't get too comfortable... Remember that one? Retraces and corrections have been non-existent for Bitcoin... Or better yet, short-lived. We are seeing strong consolidation take place near resistance. When prices are going to drop, they drop. Staying near resistance is a signal of strength. Based on this chart, BTCUSD 1H, we are likely to see higher prices soon. Conditions for change If Bitcoin moves and closes below EMA50 ($26696) the short-term bullish bias is lost and this analysis can be considered invalid. We do not trade here. We focus on the altcoins. Thanks a lot for your AMAZING SUPPORT! I am always deeply grateful. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin Weekly Hits New High (RSI Analysis To $400k & More)Today, the weekly RSI for Bitcoin just hit its highest level since December 2017. Bitcoin's weekly RSI has only been above 88 three additional times in the past. Back in June 2017, November 2013, and February 2013. Both times BTC hit this level back in 2017 the RSI dropped followed by a massive growth in the Bitcoin price. Looking back at 2013, there was plenty of additional growth as well. From June to December 2017 we saw over 560% of growth after the first time that 88+ was hit on the RSI. From February to November 2013 we saw over 348% of growth after the first time that 88+ was hit on the RSI. Now, in 2020, we have the first hit above 88 on the weekly RSI, opening the door for additional growth. How much will it be? 350%, 555%? Maybe 3,000%? We can't tell for sure but one thing is certain, more stimulus money is on the way and even more money will be printed in the years to come. The more fiat currency that is printed, the highest that Bitcoin goes. ~300%+ would send Bitcoin above $70,000. ~555%+ would send Bitcoin above $123,000. Anything and everything is possible... Just look at this year, 2020, when everything changed. We are looking at much stronger and bigger change on the world stage in the years ahead. Don't be surprised if Bitcoin does not grow this much, but we are more likely to see a $400,000 Bitcoin rather than Bitcoin hitting $1,000 as a low. Back to the BTCUSD chart Last's weeks high has been taken out sending out a strong bullish signal. Our next target has already been shared in a previous article today but we are looking at 25800 followed by 29150+ and beyond. What's your take? Where do you think Bitcoin is headed? Thanks a lot for your continued support. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin Targets Up To $44,441.14... New High Hit Today!Bitcoin just hit a new high today at $24722 on BitStamp and other major exchanges. Its price remain trading above EMA10 and all other EMAs. We have a stable ascending channel in which BTC is trading and all bearish signals that we saw back on Dec. 20-21 have been deleted. Both the MACD and RSI went through a reset and prices continue to aim and climb higher. Going by the current trend, we have a target next at $25892, followed by $29160 ($30K) and finally $44,441... Here is the weekly chart: Nothing has been able to stop Bitcoin and more stimulus money is coming up... With this type of news now in play, we go with the flow. 🅱️ Bitcoin Monthly | Reviewing Previous Bullish Charts +$46,000 Thanks a lot for your support. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
Bitcoin Weekly RSI Signals Growth Until May 2022 | 20,000 Next?!Bitcoin, BTCUSD, on the weekly timeframe continues to aim higher... Let's have a closer look at the RSI, multiple milestones have been hit this week... Let's get into it. BTCUSD (W) RSI: Here we can notice that the RSI hit above 80 for the first time since December 2017 when Bitcoin hit it's All-Time High (ATH). When Bitcoin first hit this high on the weekly RSI, it continued to grow straight for 550+ days. If we get similar action starting now, November 2020, we will see prices continue to increase with higher highs and higher lows until the year 2022 in May. Wow! Do you think is possible? Just wait, there is more... One of our readers left a comment telling about this Bitcoin rally, there is something different to it, we all get the feeling that it isn't "natural"... What is really going on? The last time we saw Bitcoin enter its bull-run mode, there was a tremendous amount of hype, lots of FOMO, and retail buyers jumping in by the loads, but this is not the situation we are witnessing these days... We have a very shy/inactive market, so why is there no correction, why does Bitcoin continues to grow every single day? It is very possible that big institutions or big Governments like the USA are buying Bitcoin by the boatload. When this is happening, there is no reason at all for selling, because if they are buying is for the long-term, they know that something massive is going on. Regardless of speculation, we continue to see Bitcoin move higher with no corrections at all... And with no retail/dumb money buying, this means that we are in a new cycle we haven't seen before. Bitcoin might be looking at really low prices right now and we might see $30,000, $50,000, $80,000, or more in the years to come... Of course, time will tell... But we know one thing for sure, Bitcoin always go 10X higher, than what most people think is possible for it to go. I recall those days when it was impossible to hit $3,000 for Bitcoin, at least that was what many were saying all across... Bitcoin surprised everybody and hit $20,000+. This might just be the beginning... With this simple indicator, the RSI, we are getting the signal that Bitcoin might be entering a new bull-run mode. What's your take? Leave your comments in the section below! Previous ideas: 1) Nov 12 | Bitcoin, I Got It Wrong How High Can It Really Go? Leave Comment 2) Nov 9 | Bitcoin Ascending Channel + Altcoins Market Update 3) Nov 8 | Bitcoin Love ❤️ Aims At $17,250 Followed by $31,285 4) Nov 1 | I ❤️ Bitcoin To $30K? Hits Highest Level Since Jan. 2018 This is Alan masters... Thanks a lot for your continued support. Namaste.
BITFINEX:BTCUSD
by AlanSantana
2