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Bitcoin Bearish IN ShortTerm (Aims at $11000 or Lower) +AltcoinsBitcoin (BTCUSD) is showing multiple bearish signals on the 4H time frame. We are looking at a bearish MACD, line, and signal. The RSI is also on the bearish side but moving around support. Before Bitcoin can move any lower, it first needs to break EMA100 ($11077), only if this level can be broken, BTCUSD is to move lower and test the $10,600 - $10,400 range. We mention this support level in our previous long-term update: Conditions for change: If Bitcoin (BTCUSD) moves up and closes above EMA10 ($11,405), it increases its bullish potential and chances to move higher, the above bearish signals would become invalid. Feeling the market: The feeling I am getting from the market and Bitcoin is that it can take a few days before it makes its next move... Some sideways action is possible leaning more towards the bears. We easily see Bitcoin's price moving in the $11,100 to $11,600 range, before breaking any resistance or support level. We can see it moving up but more consolidation before anything big comes... That's the market feeling at this point. What about the Altcoins: After all the bleeding for the ALTSBTC pairs, they will start to move again but it will take a few weeks to see them move in full force. The summer, the big hit... it will take people sometime before confidence returns... But at this point, if you are smart, all you are doing is BUYING, REBUYING, MORE BUYING AND RELOAD. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
2
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
Bitcoin Clearly Going For $10,551 If This Criterion Is Met (IN)Bitcoin (BTCUSD) has been aiming lower since reaching a top on the 6th of August. We warned about an imminent retrace and this is now happening... Let's take a look at the chart: BTCUSD is now trading below EMA10 ($11,300). In my previous article, we mention that any trading above this level is bullish, but below this level, we go bearish. The daily candle is yet to close, but if BTCUSD closes below EMA100, it is very likely to move lower. Our next target is sitting at EMA50 which is now $10,551. This is the level where Bitcoin will find support next if it closes bearish today. MACD and RSI are leaning towards the bulls. The RSI is gaining momentum down and signals a strong drop incoming. Here is the chart: You can see our previous analysis with altcoins market update below... Still valid: Bitcoin Bearish Short-Term (Aims at $11,000 or Lower) + Altcoins Bitcoin Looking To Retrace, $10,400 Possible, Full Analysis! Bitcoin Weekly Update (Bullish vs Bearish Potential) Feel free to hit like if you want to show us some support. Thanks a lot for reading. Namaste.
BITSTAMP:BTCUSDShort
by AlanSantana
1