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Bitcoin Rising? Potential Bounce In-Play (10X Lev. Trade Inside)Bitcoin's (BTCUSD) retrace gained momentum last week but hit a stop yesterday when the 0.5 Fib. retracement support was hit... This level is clearly marked on the chart. Here we have Bitcoin retracing on low-volume with prices now bouncing after reaching support. BTCUSD moved and closed below EMA200, MA200, and EMA100 just to quickly move back above these levels. If the daily candle closes above $8626 we have a positive signal, earning momentum for the bulls. We are active here with 10X lev... You can find the full trade details below: Where do you think Bitcoin is headed? Do you think that prices will bounce here and resume the uptrend, or fakeout and continue to drop? Share with us in the comments section below! Namaste.
BITFINEX:BTCUSD
by AlanSantana
Bitcoin Retraces But What About The Altcoins?We know many of you are really interested in the smaller altcoins... The altcoins market continues to grow stronger and in bullish potential, here is what will happen next. Now, before we get started, it is always necessary to make this small but very important distinction when we talk about Altcoins. Conventional analysts here talk about Bitcoin and Altcoins. When they say Altcoins they are mainly referring to the big ones, the TOP10: ETH, ADA, LTC, TRX, BCH, EOS, XRP, USDT, BNB, and XLM... (Not necessary the TOP10 but those with the biggest market cap.) When we/I/us mention Altcoins, we are always exclusively talking about ALL ALTCOINS minus the TOP10. When it comes to market capitalization and the bullishness of the market, we have to separate these bigger altcoins from the smaller ones for two reasons: 1) These bigger altcoins move together with Bitcoin (Bitcoin is now dropping strong, these as well). Normally, we tend to see altcoins detach (move inverse) to Bitcoin in a bullish cycle... Right now, you can see the Binance and Bittrex altcoins growing, as well as those on other exchanges. 2) They do not behave as the smaller alts. So we can see the altcoins chart (TOTAL2) full bearish and going lower while "the Altcoins Market continues to Grow" . Even with that said, they are still producing higher highs and higher lows, meaning that the entire market is now in full bullish mode. What Happens To The Altcoins? As I've said many times before, this is only the beginning. Feel free to buy up on your favorite pairs. Feel free to take your time to research, make your choice, buy and hold. The cryptocurrency markets are very likely to grow for years to come. This is Alan Masters... Thanks a lot for your support. Namaste.
by AlanSantana
Can't Say You Weren't Warned... Bitcoin Going To $5,000?The cryptocurrency market is filled with amazing people, extremely smart and open-minded but also ultra-bullish, and it is surely un-popular to post/write/share that Bitcoin will drop. Being an eternal Bitcoin Bull, I've learned this through experience over time and if you post lots of "bearish/short" analysis for Bitcoin, the public stops reading what you wrote and dislikes your analysis even if it is useful/valid. Like it or not, we trade for profits and do not become attached to any specific results, so when we saw the signals came out, we quickly rushed and posted that Bitcoin would drop... See it here | Bitcoin Aims At $8,888, How Long Before The Drop? XBTUSD (+122% of profits) Bitcoin Aiming Lower | $10,000 Will Break | Where To Next? ---- Now, how much lower you think Bitcoin will go? Share in the comments section below... --- Thanks a lot for reading. Namaste. 🏆 ETHUSD (8X Lev. +258% profits)
GEMINI:BTCUSD
by AlanSantana
Bitcoin | The Bears Take The Upper Hand (4H frame / short-term)XBTUSD (Bitcoin) is now trading below MA200 and EMA200 on the 4H Timeframe, signaling that the bears are now gaining control. Prices have been slowly dropping since a peak was hit on the 13-Feb. There is the possibility that this becomes a strong correction, the biggest one before the halving but this is yet to fully confirm. So far we have a normal retrace and Bitcoin is still looking pretty strong. But the bears are gaining momentum, we remain bearish as long as prices continue moving below support. Namaste.
BITMEX:BTCUSD.PShort
by AlanSantana
Bitcoin Aims At $8,888, How Long Before The Drop?Bitcoin's retrace still hasn't taken its full form, it is a process still in the making (developing...). After what appeared to be a bullish signal when prices moved and closed above EMA10, a rejection quickly followed yesterday and now prices are back below this level. EMA10 is now sitting at $9761.8. We continue to see lower highs being printed and really low volume. If volume remains low, you can expect the "drop" or retrace to be slow and not so strong... But if volume starts to come in, we will see a big drop towards EMA100/MA200, sitting in the $8821.8 to $8900 price range. Unless prices for BTCUSD move back above EMA10, we remain bearish, open for change, and expecting for the altcoins (smaller ones) to continue to gain. Thanks a lot for reading. This is not financial advice. Previous analysis | S&P 500 Index Incoming Drop | Heading For 3258 21-Feb. | Bitcoin Continues Lower, $8950 Next? Support & Resistance Mapped 16-Feb. | Bitcoin Weekly | EMA10 Likely To Be Tested At $9000-$9150 16-Feb. | Bitcoin Aims At $9740 Followed by $9250 (Bearish Signs) Namaste. -- Gold (XAUUSD) Continues Super Bullish | $2,222 Next?
BITFINEX:BTCUSD
by AlanSantana
Bitcoin Retraces? Altcoins Market UpdateWe now have Bitcoin (BTCUSD) fully retracing with a full bearish candle close below EMA10, signaling that prices can easily continue lower... But, what happens to the altcoins? In our view, we have mainly three markets when it comes to Altcoins vs Bitcoin. First (1), we have Bitcoin vs the Dollar (BTCUSD). Second (2), we have the Top10 Altcoins (ETH, XRP, BCH, BSV, LTC, USDT, EOS, BNB, TRX). Third (3), we have the Altcoins, which comprise all the altcoins minus Bitcoin and the TOP10. When I mention/write "Altcoins" here, I am always referring to #3 ... The Altcoins Will Continue To Grow This is my view at the moment. Regardless of what happens with Bitcoin or nuclear war, the altcoins will continue to grow... And even though it might sound a bit harsh, if you take a closer look at it, it is already happening, you confirm it by checking out the results. Feel free to hit LIKE to show your support. Namaste.
by AlanSantana
Bitcoin Weekly | EMA10 Likely To Be Tested At $9000-$9150BTCUSD (Bitcoin) weekly just closed last week on a bearish candle, sending out a reversal signal. On BitFinex prices peaked at $10,491 after breaking above EMA10 and EMA50. Now that momentum is being lost and a bearish candle has been printed on low volume, these same levels that worked as resistance will now be tested as support. On the weekly timeframe, Bitcoin (BTCUSD) is now aiming at $9090 or EMA10 first. If EMA10 is broken with good strength and volume, EMA50 at $8261 will follow... Here you can look at it closer on the 4H timeframe: Bitcoin Aims At $9740 Followed by $9250 (Bearish Signs) Conditions for change If BTCUSD moves back up and closes above $10,500, the above signals become invalid and a new analysis is needed. This is not financial advice. Namaste.
BITFINEX:BTCUSD
by AlanSantana
Bitcoin Moves Lower, Aiming At $8,000 On The DailyIt is no secret that Bitcoin is dropping now... Many altcoins continue to grow... Bitcoin ( BTCUSD ) just broke below EMA10 and is aiming at $8000 - $8100 next. This price range coincides with EMA100 (purple) and EMA50 (yellow)... This looks like just the beginning of the drop. The MACD is looking bearish as well as the RSI. We were expecting this drop as we got a clear signal on the 19-Jan. The next target is red. Namaste. Previous analysis | Bitcoin Can Easily Drop From Current Prices | $8320 Followed by Previous analysis | Bitcoin Prints A Bearish Signal, Time To Drop?
BITFINEX:BTCUSD
by AlanSantana
Bitcoin's First 2020 Very Strong Signal, Bullish Engulfing (Q1$)The Bitcoin Bulls are now taking the lead... A very nasty drop yesterday, today turns into a fake breakdown that can lead to a very strong bullish signal called "Bullish Engulfing, this signal is confirmed after the daily candle closes above $7175. Here is the daily chart for Bitcoin with the signal highlighted: We also have a bullish flag and EMA10 being challenged. This action looks really good and can signal that the bulls will take the lead, but, just as a nasty drop turned into a bullish signal, this candlestick can change by the end of the day. If prices for BTCUSD close above EMA10, we will hit $7400-$7500 easily, followed by $7970. But if instead BTCUSD closes below $7175, prices can continue to range within the flag (black trendlines). My view Fake breakouts and breakdowns are more common with low liquidity (low trading volume), our view for Bitcoin after the 18-Dec. move is up. We are likely to see Bitcoin move higher. Where do you think Bitcoin is headed in Q1 2020? Share your thoughts and charts with us in the comments section below. Thanks a lot for reading. This is Alan Masters. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Where To Next BTC? | MA200 Conquered, Volume Starting To Show UPWe have been tracking Bitcoin (XBTUSD) closely basically on all timeframes and considering multiple scenarios... Here we are looking at it again short-term, 4H (4 hours) per candle. We put our focus on MA200 (black line) because it is a strong indicator for Bitcoin on this time frame. You can see all of the details about it here: Now, this level has been conquered and even though we still have low volume, it is starting to grow. We can easily notice that Bitcoin is trading above EMA10 (bullish) as well as MA200. The MACD is also bullish. The bulls have the upper hand as long as we remain trading above these levels. If XBTUSD moves below these two, then we switch our short-term view from bullish to bearish... Right now we stay with the bulls. Namaste.
BITMEX:BTCUSD.P
by AlanSantana
Bitcoin Falling Wedge + Bullish Hammer (Weekly Time-frame)Bitcoin (BTCUSD) had a bullish close on the weekly timeframe. Last week's candles closed as a "Hammer", which is a bullish candlestick. "The Hammer candlestick formation is viewed as a bullish reversal candlestick pattern that mainly occurs at the bottom of downtrends. "The Hammer formation is created when the open, high, and close are roughly the same price. Also, there is a long lower wick, twice the length as the real body." We also have a positive count starting on the TD Sequential indicator as well as the Falling Wedge pattern. Prices for Bitcoin are still trading below EMA10 and EMA50, which is bearish, this is the next barrier to break on this timeframe. If Bitcoin can break EMA10/50, it can easily move higher and reach $10,000+. If Bitcoin can't conquer EMA10/50 and moves to close below $7300, we can easily see lower prices and even the last low tested. If prices start to crash hard, the main support will be sitting at $5050 or MA200. We are aiming higher short-term. Volume is needed for confirmation of the current move. Please allow time for the charts to develop. Previous analysis: Bitcoin Starts To Gain Momentum | $8,000+ Or $10,000 Next? Is Bitcoin Ready To Resume Its Growth? EMA100 Conquered Thanks a lot for reading. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
Bitcoin At A Decisive Point | $10,000 or $5,000 Next?Wishing you a great weekend ahead... Bitcoin (BTCUSD) is looking ready to continue growing. Please allow me a minute to share this update with you... Thanks a lot for your continued support. Bitcoin (4H) Chart Analysis EMA10 was broken (blue circle), switching Bitcoin's potential from bearish to bullish. After this resistance was broken with good strength and volume, it was tested as support. If BTCUSD can remain above EMA10, it can easily continue higher. We are bullish on Bitcoin, you want to see the next target and support levels, here you can see our previous analysis with additional information: Will Bitcoin go to $10,000 before the end of the year/month? Let us know in the comments section below. Namaste.
BITFINEX:BTCUSDLong
by AlanSantana
Bitcoin To Continue Growing + Altcoins | $10,000+ In Dec. Pt.4I am of the belief that Bitcoin would start to grow when the altcoins start to retrace strong... The altcoins market is having massive bullish action and growth for the past few months and now we are seeing some altcoins correcting having a strong retrace... The majority continue to grow, the market remains bullish while Bitcoin is now ready to continue growing again. We are seeing a very strong bullish candlestick taking form now which is challenging, and very likely closing above, EMA10. EMA10 is sitting at $7469.91. Closing above this level on the daily timeframe is a strong bullish signal. We have volume coming in, mid-week, and the indicators starting to turn. This is just a friendly reminder to let you know that Bitcoin... Is Ready To Continue With Its Growth! Namaste. Perfect for Bankex (BKXBTC) | Easy 125%+ within days BANDBTC Thanks a lot for your continued support. This is not financial advice.
BITSTAMP:BTCUSDLong
by AlanSantana
1
Bitcoin Going To $10K December | Will It Go Lower First?Bitcoin is very likely to move to $10,000+ in December 2019, but before we go there, can it go lower now? Bitcoin (BTCUSD) printed a full bearish candle to break below $8,000, reaching a low at $7394. Now, this candle is still active today so the next move really depends on the daily candle close since we are looking at this timeframe. We are likely to see additional bearish action before Bitcoin bounces and starts to move up. The low can be set late Nov. or early Dec. with the goal of reaching $10,000+ after Bitcoin bounces and starts to move back up. This is just one scenario, my main view at the moment... Additional details can be found on the chart. Thanks a lot for reading and for your continued support. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
Bitcoin Showing Early Signals of Reversal | Next Target $8.2kBitcoin (BTCUSD) is showing early reversal signals. We can see its price now moving above EMA10 and gaining momentum. If this movement continues, we can expect Bitcoin to hit $8,088 easily followed by $8,200 after. The $7800 - $7900 range is where we can now find strong support. If prices move lower, this will be a very important level. Right now, Bitcoin is now aiming higher but we still need to see some volume for this move to be strong. Patience is key... Thanks a lot for your support. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
MATIC Network Continues Strong | Challenges EMA100 Next!MATIC Network (MATICBTC) continues strong after our analysis shared on the 7-August. The low has been maintained, we are seeing slow and steady growth. Previous analysis: Now, we are getting signals that MATICBTC can move higher, let's take a look at those: We are seeing a bounce after a potential higher low. MATICBTC moved above EMA5 and EMA10, the daily candle is still active and needs to close for this signal to be confirmed. Challenging EMA50 (0.00000139). Volume starting to increase. RSI strong and bullish above 50. Next target is EMA100 (0.00000158) if EMA50 can be broken. The chart is bullish and bullish potential is dominant with MATICBTC trading above EMA10 (0.00000133). Conditions for change: If MATIC's price moves lower and closes below 0.00000120, the above signals are invalidated and we are very likely to test the next support. A new analysis is needed. Any questions? Use the comments section below. Namaste.
MLong
by AlanSantana
Bitcoin Short-Term (1h) Drop | $8,000 or $8,122?Bitcoin (BTCUSD) is trading below EMA10 and gaining momentum on the 1h timeframe. EMA50 is also being broken now and we marked the next target. Support is found next at $8218, which is the 0.382 Fib. retracement level from the last bullish wave. The next support that follows if the above breaks are $8122 and finally $8027. On the way up, Bitcoin needs to break $8293 in order to be able to move higher. Right now it is moving lower... Hit LIKE if you like the short-term analysis. Namaste.
BITSTAMP:BTCUSDShort
by AlanSantana
Bitcoin Bounces To $9k, Likely Go Mid $6k Next Month + AltcoinsBitcoin (BTCUSD) is now moving within a descending channel, going lower. Now I am seeing a potential bounce in place or further drop. Bitcoin can easily move lower, according to the chart above, but a bounce is also very likely. As for the mid $6,500 price (I am looking at the $6200 - $6500 range), I am looking at this level for Bitcoin (BTCUSD) to fully complete this retrace... Depending on how this level is handled, we can think about Bitcoins next move. Here is what I see: 1) If Bitcoin can bounce at current levels with good strength and volume, it can resume its recent uptrend... But this is very unlikely as the chart is right now but there are always unexpected events that can happen... So just as we can see strong drops come out of nowhere, in the same way, "magical" reversals in price can happen... But we focus on the chart... 2) Bounce and then moves lower. Bitcoin (BTCUSD) can easily bounce at current levels... Why? The RSI is at its lowest it has been since November 2018... This where the RSI hit bottom for BTCUSD at that time and what followed was a long-term sustained growth period. 3) More drop can also follow, right away with no bounce... Such a drop would quickly be bought up leaving a long-wick. Less probable but completely possible right now. Share your own perspective or view in the comments section... Keep reading below! Feeling the market One more drop, bounce or drop, and then we are very likely to see this retrace over but, we remain open to see how the last drop will be handled by the market and update our view once this happens. Bitcoin isn't likely to hurry... Whatever will happen next, it is very likely to be drawn out process, just like it took a while to break the descending triangle created when the last peak was hit back in June. So everything can take a while... While the altcoins grow... Altcoins profits Continue buying, collecting and accumulating altcoins. Be smart, be patient, be active... Know the risks involved, do your own research and take it! Buy-in, learn, trade, read, study... Hit like to show your support. Give yourself some time... Patience... And later come to collect your profits. This is Alan Masters. Thanks a lot for reading. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
1
Bitcoin Can Easily Move Lower or True Bounce In Place? i|AltcoinBitcoin (BTCUSD) can easily move lower... According to the signals coming from the chart above. My last analysis showed that the signals were weak and that Bitcoin could move down since it was rejected for the fourth time by strong resistance... You can see the full analysis here: Now, we are going to have a shorter-term look at the chart. Bitcoin (BTCUSD) on The 4H Time Frame / Scale First we have what appears to be a bullish engulfing pattern, a strong one, to push BTCUSD back above EMA10. () If the red trendline can be conquered, Bitcoin can easily move higher... but if it remains below it, as it is now, we can expect additional retrace. Trading back down below EMA10 (candle close is needed for confirmation). Bearish MACD and trending lower. RSI on the bearish zone and trending down. Retrace has gone to 0.5 Fib. of the last wave, can easily go lower to 0.618, 0.786 or 1. The GREEN trendline would support Bitcoins price if it turns upward. Feeling the market: Bitcoin can easily go lower, that's the feeling right now... The signals are above. Altcoins I mentioned the altcoins market in my last update for Bitcoin, which can be seen here , and that the alts would start moving from this point forward... Now... I am seeing more pairs on Binance producing very strong bullish setups that can produce massive impulse waves... Just watch... You can check my profile for some of those... Thanks a lot for the support. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
TOP 10 Strong Altcoins 4 LongTerm Bullish Potential @alanmastersGood Day & Life! My fellow cryptocurrency lover, I would like to share a trade idea today with a completely different format, so this is something that is requested from me on a daily basis, so here you have it by popular requests. Today I will be sharing a list of TOP Altcoins that are STRONG for LONG TERM holding and at the same time have good BULLISH potential. So the key words here are TOP, STRONG, LONG TERM and BULLISH... This is what we will be looking at from major to minor altcoins. I am hoping that you enjoy this post... Feel free to hit like if you want to now, to show your continued support. Before we get started I need your help! I am going to be writing a series of TOP 10 articles mentioning different categories of altcoins to consider for the top 10 list but we have many, many options, there are thousands of different altcoins... Here is where/how I need your help. I need you to leave a comment choosing which of the following category you best prefer to read about next, as well as share your own variation for me to consider for the next post: (1) TOP 10 Altcoins for Short Term Profits (2) TOP 10 Altcoins with Highest Profits Potential (3) TOP 10 Altcoins with Best Products (4) TOP 10 Most Popular Altcoins (your choice) (5) TOP 10 Altcoins with The Biggest Gains So pick one, or multiple choices, and add your own to the bottom of the list. You can leave a comment and I will share next the list that gets more requests... Remember to mention your favorite altcoins or the one you want me to look at in case #4 wins. Now... Let's get started! Thanks a lot for the support. TOP 10 Strong Altcoins for Long Term Bullish Potential Binance Coin (BNB) I believe Binance Coin (BNB) to be one of the strongest altcoins which you can buy and hold for long term growth, stability and profits potential. Binance is the biggest cryptocurrency exchange by volume and lists some of the best altcoins in the market for us to trade. Binance implemented credit card purchase to buy cryptocurrency and its own altcoin, BNB, can be used to pay trading fees. Here is the quick conclusion, the more the cryptocurrency space grows the bigger and better that Binance Coin becomes. And since the market is really young, this altcoin has the potential to keep on growing more and more. Trade ideas: BNBUSDT BNBBTC Ethereum (ETH) We continue with Ethereum (ETH), which is a " decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference." Ethereum is the second biggest cryptocurrency by market capitalization, second only to Bitcoin. Ethereum has its own "reality" in the crypto space and most exchanges offer trading against ETH. This is a very strong project with huge long term bullish potential. When you look at the long term chart, ETHUSD is basically at its bottom: Let's continue. Litecoin (LTC) Litecoin is the first Bitcoin copycat and has established a reputation as being a very stable altcoin project. Chart: Even though my charts are showing profits potential compared to all-time highs, altcoins can create new highs just as they can create new lows. A new all-high can push the price of any altcoin project dozens of times higher than the last high. All that is needed is a bull run. Cardano (ADA) Cardano is one of the best and most trusted projects out there and it is already being used in different types of commercial establishments in Asia (Korea). The last bull run back in late 2017/early 2018 pushed ADABTC to generate over 3,000% profits. With these altcoins projects being the ' companies of the future ', the potential here is hundreds of times of what we are seeing now. Here is the chart: Cardano is a great altcoin which is strong and can be held long term. Siacoin (SC) Now, we looked at big market cap and famous altcoins, here we will be looking at two smaller but older ones. Siacoin (SC) is a project that has a real working product and has been around for long. It is said that Satoshi Nakamoto, one of Bitcoin creator, lend his to support to this project. And old gem, Siacoin is massively stable and has lots of potential for future growth. This is an altcoin that can grow 5-10X easily within this year, and up to 50X by the next cryptocurrency market bull run... Wait, wait... I know, this is huge, but this is how the amazing/crazy cryptocurrency market works. DigiByte (DGB) DigiByte is another old gem and I am sharing it here simply because of its long term potential and stability as an altcoin project. DGB held its value better than most of the altcoins available throughout the bear market. Chart: BitTorrent (BTT) From old to new, BitTorrent needs no introduction. BitTorrent is a file sharing system that now has its own altcoin which can be used to monetize content and traffic while sharing online. This project is linked to TRON ( TRX ) and has huge massive growth and long term potential. Here you can find our BitTorrent trade, this is for the medium term, long term potential is much, much higher: Basic Attention Token (BAT) This is a favorite for my friend and developer and for good reason. BAT has its own browser which can be used to monetize traffic on any website... The method of payment? BAT of course. This project comes from the creators of Mozilla and is a must-have for any cryptocurrency lover. Ripio Credit Network (RCN) One simple feature got RCN into this list, which is the Ripio Credit Network New dApp. Basically, Ripio Credit Network has a dApp now where you can loan them money and they give you a % back in 30 days with Ripio backing all the loans. This gives out a varied return, monthly/yearly, for RCN that you would be holding anyways if you are into crypto. At the same time this feature can promote long term slow steady growth for this altcoin. This feature is active now and can be found here: rcn.loans RCN has huge growth potential that can go beyond ATH long term: Bitcoin (BTC) Needless to say, BITCOIN IS THE NAME OF THE GAME. BITCOIN IS THE BEST! You can always buy and hold Bitcoin long term as this is the best cryptocurrency of all. Namaste. Conclusion Here we have a mixed list of altcoins, I tried to put in new projects, old projects, known projects, not so known, with good profits, etc. Variety, so there is a little bit for each and every one of us. Which TOP 10 Altcoins you want me to write about next? Remember to hit like and leave a comment with the altcoins that you believe are best. This is Alan Masters. Thanks a lot for reading. Namaste.
BITFINEX:BTCUSD
by AlanSantana
3
Bitcoin Bounces In, Aims At 10.5k Or 11.3k? (#1 All-Time TOP)Bitcoin (BTCUSD) retraced strong... We caught the last peak, now we are seeing that a new low has been set... ----- Before we get started we would like to thank all of our readers, supporters, and followers, and Trading View as a company, its staff, and support, for ranking Alan Masters now as the #1 All-Time Top Cryptocurrency trader and analysts... I am deeply honored... Thanks a lot for continued the support. ----- Feel free to hit LIKE and let's get started with the chart analysis... Bitcoin 4H Time Frame Bitcoin can surely move up from current levels, I've drawn the main scenario I see developing on the chart above. Let's take a look at why and at some of the main signals below: Looking at the RSI We can see a huge decline, I mean massive after the top on the 5th of August, it reached oversold yesterday, massively oversold down to 13.88... Bitcoin tends to bounce when it reaches such levels on the RSI. The purple arrow marks the hidden bullish divergence. This shows up when the trend is up (Higher lows)) while the indicator is down (Lower lows). After the dashed red trendline is broken, you can expect the RSI to move higher and higher. Looking at the Bollinger Bands and Bullish Candlestick Here we can see that Bitcoin (BTCUSD) touched the outer part of the Bollinger Bands, to quickly bounce. The price always trades within these bands... This is a great indicator. On the bounce a bullish candlestick formed. You can see it marked on the chart. The large wick at the bottom means the rejection of sellers. High volume is good, supports the bounce. Also supports the bounce back into the Bollinger Bands as well as the bullish candlestick and break above EMA5. So unless the bears do a massive push down and break the last low set, Bitcoin is very likely to move higher from here and challenge the next resistance levels. Feeling the market: As you can see, multiple signals are pointing towards a bounce here but it is very likely we will see some range-trading or sideways action first. This sideways action will allow for the altcoins market to grow (ALTSBTC). The last low can still be broken to shake out some more weak hands, but we can expect the $9100 support to be a very strong one if this happens. After some decent consolidation, we can analyze the next move which right now feels up. Altcoins Market Update: Yesterday's drop was massive for Bitcoin yet we can see that the Binance and Bittrex altcoins, the ones we mainly look at, remain consolidating on support and continue printing bullish charts. All of these will have a massive bullish explosion soon. The market sentiment needs less than 3 weeks right now to fully change. We will see the altcoins market move from extremely bearish to extremely bullish... It will be a drastic change. As for us... Thanks a lot for your continued support. This is Alan Masters. Namaste.
BITSTAMP:BTCUSD
by AlanSantana