Bitcoin IN Weekly Update (Bullish vs Bearish Potential)Let's take a look at Bitcoin weekly... Our analysis while looking at the weekly time frame/scale; one week per candlestick...
Feel free to hit like now and let's get started...
Bitcoin Weekly Chart Analysis by Alan Masters
Brown dashed trendline:
1) First, let me call your attention to the dashed brown line above. This week candlestick is challenging this trendline and trading above it, a close above this level would give Bitcoin further bullish potential (increase its value/grow in price). A close below and we are likely to retest lower levels at $10,900 and possible $10,150 as well.
EMA10 & TD Sequential:
2) EMA10 was tested and held nicely as support. Trading above EMA10 tells us that Bitcoin remains strong and we look to the side of the bulls.
The TD Sequential started a new positive count. This is a great signal especially if the week can close above $11,480.
Strong RSI:
3) The RSI is really strong at 70.39 and can move higher. We can see an ABC correction after a double top, after this correction another move up can show up.
MACD showing bearish divergence
4) The MACD is on the bullish side and allows for additional growth, but, it is printing now bearish divergence. This divergence can be eliminated with a strong big green candle or it can become stronger... Right now it isn't as relevant, it all depends on how the week closes.
My feeling of the market and charts
The overall feeling I am getting is that Bitcoin (XBTUSD / BTCUSD / BTCEUR or BTC in general) will try to move higher, do some new peaks and consolidation sideways... There will be some bearish action but not as strong or long-lasting as we got used to in the past 2 years... Things will change now for the better, overall, and after September, we will see nice growth for the altcoins while Bitcoin remains strong.
Strength will be the name of the game
There will be ups and downs, as it is normal in every way, but the altcoins market and Bitcoin will be known by their growing strength...
We might perceive it as weak sometimes or that some government can take it all away, but as the days, weeks and years continue to pass, strength will be the name of the game...
"Bitcoin just became stronger".
"Bitcoin is becoming solid, the market is gaining mayor strength".
This is Alan Masters.
Thanks a lot for reading...
Namaste.
Alanmasters
Bitcoin 2020 Going To $82,352 (Simple 12345 Elliot Wave)We've seen Bitcoin (BTCUSD) predictions for the future that range from $100 to $1,120 all the way to $1,000,000 and beyond.
We would like to be more conservative and use some known tools for a long term Bitcoin prediction... Let's take a look...
But before we get started, feel free to hit like now if you want to show us some love and support.
We are using the 12345 Impulse wave structure from the Wave Principle Theory by Elliot Wave.
We used Fibonacci proportions to reach our top target of $82,352, which matches perfectly the 5th Wave.
The MACD supports this move.
The RSI hit its lowest point, is now bullish and can also support this move.
What's your take on Bitcoin long term?
Leave us a comment in the comments section below.
Thanks a lot for reading.
Thanks a lot for your amazing and continued support.
Namaste.
Bitcoin's Next Move (Short Term Keeping It Simple) Altcoins (IN)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.
Altcoins Market Update
Our altcoins continue to bless us with massive profits. I am sharing 10 charts daily with many different opportunities, make sure to visit my profile every day, hit like on everything and profit with us.
Your support is truly appreciated.
The biggest gainer is Everex (EVXBTC) with 460%+ profits in just 2 days. See all the details here:
ETHOS (BQXBTC) is yet to move but has huge potential:
Viberate (VIBBTC) gave us over 140% profits already:
openANX (3rd Round), over 220%:
Finally, let me share with you my latest Masters Level BitMEX trade for EOSM19, which generated over 147% ROE within 24 hours of sharing (more to come):
More altcoins:
Time New Bank (TNBBTC) +105%
Tieron (TNTBTC) +61%
Nuls (NULSBTC) +72%
YOYOW (YOYOBTC) +35%
Feel free to leave a comment if you have any questions or want to share anything with us. Your opinion is valuable and highly appreciated.
This is Alan Masters.
Namaste.
Cryptocurrency Total Market Cap Breakout + Bullish PotentialThe cryptocurrency market is moving. We are seeing green and we like... We love it!
I am now looking at the total market for the entire cryptocurrency market, all altcoins including Bitcoin, and we have several interesting signals.
Perhaps you might want to take a minute now to hit LIKE, and then continue reading what I am about to share... Thanks a lot for the support.
Crypto Total Market Cap Bullish Chart Signals
Daily time frame chart analysis (left)
On the left we have the daily time frame, where I want you to take a look at several things.
First we have trading volume increases, which is the best signal you can have to support a strong breakout. This huge increase in volume came to break above EMA50 (magenta) and MA99 (red).
The RSI is super bullish and the MACD is just following its steps now entering the bullish zone after having a bullish crossover.
Pretty simple, straight forward signals.
Weekly time frame chart analysis (right)
Here the action is just getting started, on the weekly time frame. You can see that EMA50 is still far but the total market cap is now above EMA10. This signal is only valid when the week closes.
Trading above EMA10 = bullish potential.
We have the RSI curving up strong and the MACD showing a bullish crossover.
The candlesticks formation and TD Sequential are also supporting a bullish move.
So the chart for Total Cryptocurrency Market Cap is starting to display some nice bullish signals, and we have these many altcoins and Bitcoin making strong moves which are reflected in the charts above.
This is the type of action we haven't seen in a while, and we are expecting a strong wave up in the weeks to come.
Enjoyed this post? Feel free to hit like if you want and I will keep on posting, more and more.
Namaste.
Bitcoin Price Action BULLISH +Altcoins Market Update -MOST READ!Good Day LOVE... And it is...
(Note: This is the analysis that I shared before Bitcoins breakout)
Hit LIKE and we start with some phrases coming out of the money people in this reality... And these people have lots of money; let's see what they have to say to newcomers like us (crypto-traders):
"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell." - Sir John Templeton
"If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes." - Warren Buffet
"Our favorite holding period is forever." - Warren Buffet (Good thing we agree with Mr. Buffet).
And one more...
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." - George Soros
"Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected." - George Soros
Market corrections, although they can be hard for many, specially beginners like us, are actually very healthy if you believe in the future of Bitcoin and Cryptocurrency... Why?
Because we have to get rid of speculators and weak hands so that our market can keep on growing. So it can be painful now, but trust that growth is on its way... Namaste.
NOW!... Let's to get started with this Bitcoin analysis.
Bitcoin ( BTCUSD ) is looking at a falling wedge , we have good chance to break up but certain conditions need to be met first; we need a strong breakout and to start a close above EMA10 (green line).
I say we have good chances because many bullish signals are starting to build up... So let's take a look at those.
BTCUSD Bullish Signals Showing Up on the chart
Decreasing momentum from the bears.
Bullish divergence showing up on the MACD.
Strong decrease in trading volume .
RSI as oversold as it can get. (I once mentioned that Bitcoin would reverse when the RSI hit oversold... Oversold can be 15, 20, 25... But for Bitcoin this is beyond... take a look at the RSI and notice that it is the lowest that it has gone. This doesn't mean that the bear market is over, but it is surely a signal that we are really, really close - this is what I meant by oversold ).
We have a 'falling wedge' pattern which is bullish . We might break this pattern "passively", sideways, before the move up...
Our main resistance is the wedge trendline as well as EMA10 which hasn't been touched in the past two weeks... I haven't personally seen Bitcoin this depressed since 2014.
But just as you have seen on TV, the quote goes as follow, and it is true...
"Buy on fear, sell on greed."
Chart & Price Action ( BTCUSD )
We find resistance on red rectangles, and yes, we find support on green.
If you are on the bull side, you want a break of the falling wedge followed by EMA10 in order to start a meaningful move up.
While if you are a bear, you would want a break of $3215 in order to continue this bear run.
We also need to consider the possibility of some sideways action in the next few days... Since these markets are highly manipulated (like all markets) then all the signals can easily break, yet we have some really strong bear action, a relief rally is on its way.
And what about the LONGS and SHORTS?
Even though LONGS are increasing massively, 34% in the past two weeks, we have SHORTS near All Time High it is very likely they are about to get squeezed. (76% up since October)
You know how our very simple strategy works... We get to buy low near the bottom, in order to sell high when the price goes up.
It is no good idea to SHORT an altcoin/asset when the price is near a very strong support. Since Bitcoin has deprecated massively, the wiser choice is to go LONG.
Continue reading below as this article goes on...