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Bitcoin Weekly | New ATH After... $6.3K or $4.7K 2020 Bottom?Bitcoin (BTCUSD) reached a peak price in late June... Old news, and moved down to test EMA10... After some consolidation, EMA10 was broken and now Bitcoin's price is trading just above EMA50. Looking at the bearishness of this chart, EMA50 can breakdown next just as EMA10 broke. If this level breaks, the next support is sitting at around $6,350 or EMA100. From this level, we can expect a strong bounce and a nice run until Bitcoin's price starts to drop in preparation for the 2020 Halving hype. This bounce can push BTC over $11,111... The halving will be promoted as an event that will push Bitcoin to new highs and many beginners will start buying en-mass... Bitcoin will crash hard and only after the halving it will start a new slow and steady growth process. This is of course just one scenario based on past history, chart signals, and experience. After EMA100, we also have EMA200 (orange) & MA200 (black), these are the strongest support levels based on these indicators and where the reversal happened back in December 2018. It is also possible that MA200 is tested again and I believe this to be the lowest price possible for Bitcoin in 2020. That is around $4700 USD. I am not saying that Bitcoin will go this low next year, instead, if EMA100 does break then this is very likely where the bottom will be. I think the ~$6000 area is very important in deciding if Bitcoin goes lower or if it reverses... It all depends on how this level is handled. There will be lots and lots of changes coming up worldwide in 2020. There will be many life-changing events affecting each and every one of us. So it is hard to go that far without knowing how big and with who is going to be the next war. After the 2020 low is hit... Bitcoin (BTCUSD) will move to new highs and grow for years to come. That's my prediction... Don't think so? Do you agree? Well... If you have so much to say... Please share your charts and thoughts with us in the comments section below. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
BITCOIN Strong Consolidates | ALTCOINS Market Full UpdateBitcoin (BTCUSD) did not move to 9k, which is obvious, it continues consolidating within a range... Sideways Bitcoin = Altcoins Growth My previous analysis on Bitcoin remains valid (you can see it below), we now proceed to take a look at the Altcoins growing more and more. Bitcoin (XBTUSD) Moving Aries | $8.6 -$9k | Short-Term Full Moon ALTCOINS Market Update We enter mid-October 2019 and the altcoins market is now used to seeing green. We are seeing so much bullish action going on with the altcoins, that even the smaller capped ones, those seen on exchanges such as Poloniex, HitBTC, and Bittrex, are starting to produce really massive gains. I am looking daily at dozens and sometimes hundreds of charts... This is what I am seeing: Growth that we haven't seen in years. Normally we would have a bullish wave every few months just as we have a bearish one. These bullish waves produced nice gains but nothing compared to what we are seeing now. We are seeing really strong bullish action for these altcoins with most of them bounce from new All-Time Low (ATL). This ATL is really important and a huge signal... Once the altcoins reached new All-Time Highs (ATH), they started to fall and went down for almost 2 years. So this is a bigger cycle... The bigger bullish cycle is already on its way, so we are very likely to see the altcoins grow for years (hitting higher highs and higher lows all of the time). Indicators and charts giving out signals that are super bullish. Normally we look at EMA10, as a basic and simple indicator, to gauge the bullish potential of a chart. This indicator shows the average price in 10 periods... Now, we are seeing many of these altcoins pairs, some even bottomed out, above EMA50 and EMA100. When you see this... You know that the next move to the upside is going to be strong. Signals such as these are now common throughout most charts. I've shared many of our altcoins results... I hope you saw them... Some are already at 500%+, 400%+, 300%+, etc. And these are the ones we caught, there are many more pairs printing such gains with the charts looking like they can continue doing more and more... Overall, this is just the beginning of the BULL CRYPTOCURRENCY MARKET... So just as we saw and benefitted from all these opportunities, many more will come. Remember to stay calm and take your time before you make any decision related to trades. If you rush you can make mistakes. But if you have patience, stop, go out, come back and check again, your mind will be clear and it will be easier to achieve success. For any questions feel free to use the comments section below. This is Alan Masters. Thanks a lot for your continued support. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
Bitcoin (XBTUSD) Moving Aries | $8.6 -$9k | Short-Term Full MoonBitcoin (XBTUSD) is likely moving higher now... but why? On the chart above, take a look at the trend line... This trendline worked as a strong resistance pushing Bitcoins price down multiple times. After it was broken, Bitcoin challenged the next resistance and came back down to retest the trendline... The trendline held successfully and Bitcoin is now showing signals that it wants to go up... Here are the signals coming from this chart The MACD is showing a bullish crossover as well as moving on the bullish side. The RSI is really strong at 60+. Trading above EMA10/50/100/200 is really bullish. Bull/Green volume growing on a Sunday/Weekend/Full Moon (people are out in the streets on Full Moon). This is a bullish setup right here... But protection is needed. The charts are always changing and this is a 1H chart. So in just a few hours, this whole setup can change drastically, for this reason, we prepare for any and all outcomes. A break below support in the form of EMAs (EMA10 to 200), would increase the bearish potential and invalidate this setup. A full candle closes below $8150 can be used as a stop-loss... Remember, this is not financial advice. Thanks a lot for reading. Thanks a lot for your continued support. This is Alan Masters. I am always sharing with love in my heart. I hope you enjoyed this content. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Will Bitcoin Bounce And Move Higher Right Now? | Here Is Why!Bitcoin (BTCUSD) hit a low on the 30-Sept. and has been moving higher, slowly, since... A peak price was hit yesterday (11-Oct.) at $8,820 with a long-wick/huge rejection candlestick. But still, we believe Bitcoin will bounce and move higher, why? The volume on the drop is really low... Bears are lacking strength. If Bitcoin drops some more and there is still no volume, then the bounce is guaranteed. The RSI is still doing good above 40. Not strong but still good if above 44, right now it is 47.97. Note: The blue rectangle is the potential sideways path for Bitcoin if it decides to do some sideways consolidation. Multiple scenarios are drawn on the chart... Where do you think Bitcoin is headed next? Share your thoughts and charts in the comments section below. Thanks a lot for reading. This is Alan Masters. Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin | The Bullish Scenario | Path To $28,888+ 2020 & Beyond!Most people believe that Bitcoin (BTCUSD) is entering a consolidation phase (green triangle) which will lead to a bullish explosion pushing bitcoin higher in value. A repetition of what we saw in late 2019 and early 2020. If this scenario comes to pass, we can see Bitcoin hit $28,000+ in early 2020 and beyond... We've looked at the short-term view, bearish and bullish. The long-term view we saw was mostly bearish... Here we are looking at the bullish scenario long-term... Where do you think Bitcoin is headed? Share your thoughts below... Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin Changes Sentiment | Bullish Or Bearish Now? | AltcoinsIs the Bitcoin (BTCUSD) chart changing? Have we gone from bullish to bearish short-term after we hit 3 targets for our last BTCUSD trade? Let's take a look... Feel free to hit like if you want to now show your support. ______ On the chart above we have the 'UPPER TRENDLINE' and 'LOWER TRENDLINE'... This is the range in which Bitcoin is trading right now. First, keeping it simple: 1) If prices move above the 'UPPER TRENDLINE', Bitcoin can move higher and reach our next target at $8550 and beyond. 2) If prices move below the 'LOWER TRENDLINE', Bitcoin can move lower and test the last low at $7720. 3) If Bitcoin can't break either trendline, we are likely to see its price moving within the range mentioned above... This is likely to happen since the altcoins are growing and Bitcoin sideways is good for Altcoins growth. Bitcoin continues looking good, solid and strong. This short-term analysis has a few mixed signals, so we have to wait to see what the next move does... In the meantime, many altcoins are having a very strong wake-up call... Altcoins Market Update I mentioned several months back about the altcoins hitting a low and starting to grow for months to come... All those altcoins that hit a low back in August 2019, have been either consolidating or growing since their new ATL hit. Now, there are some altcoins that are still going down and recently hit new lows (late September), but these pairs as well are now consolidating and many are having strong moves up. The altcoins market continues to heat up... If you missed one opportunity, do not worry, many more will come. Even if you see huge growth, remember that this is only the beginning... And if you are reading this now, buying/trading, then you are already a winner, since you managed to catch the bottom of the altcoins market before the next run. Thanks a lot for your continued support. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
Bitcoin Bounce Taking Form | Moving To $8,500 Next?Bitcoin (BTCUSD) short-term drop, as seen in my previous analysis, is coming to an end. We can look into any pair short, mid and long-term. We are looking into Bitcoin (BTCUSD / XBTUSD) daily, in order to determine its next move. Our main target now is $8500. We went from SHORT to LONG... Conditions for change Remember that this situation/chart can easily change. Bitcoin is now trading above EMA10 on this timeframe (4h), but moving and closing below this level can invalidate the above analysis. If the last low at $7700 is taken out, Bitcoin is likely to move lower rather than higher. But if the bulls continue to come in/follow up, BTCUSD is likely to bounce as it is happening right now. If $8,500 is broken, BTCUSD can easily go higher... $9,000+. Where do you think Bitcoin is headed? Share your thoughts and charts in the comments section below... Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
Bitcoin Still Aiming At $7,700 | Hit Or Bounce To $9.2K?Bitcoin (BTCUSD) is still aiming lower. We have a short since $8200 and we think our remaining two targets will hit... Bitcoin is trading below EMA300 on the daily time frame, so another leg down might happen before testing resistance back up... Here is the chart: Below you can find the full details of our trade, remember that this is HIGH-RISK and not financial advice . Leveraged trades are intended for advanced/experienced traders only. If you are a beginner, stick to the altcoins on Binance, Bittrex, Huobi, Poloniex, HitBTC, etc. Thanks a lot for your support. ______________ Trade: SHORT XBTUSD (Bitcoin) Leverage: 6X Buy-in: $8,050 - $8,150 Targets: (1) $7,900 |Hit (+14.58%) (2) $7,800 (3) $7,700 Stop-loss: Close 4h candle above $8,195. Liq. price: $9,652 (Buy-in calculated at $8,092) Potential profits: 30.5% Capital allocation: 6%. ______________ Make sure to hit like for more and to show your support. Use the comments section below for questions and to share your charts. Namaste. _____________ Previous analysis | Bitcoin's Next Move Short-Term ($7,700 or $9,200?)
BITSTAMP:BTCUSD
by AlanSantana
Bitcoin Bullish vs Bearish Long-Term | $5,065 - $5,400 BottomBitcoin (BTCUSD) remains bullish on the monthly timeframe. We are not used to seeing a "long-term" bearish Bitcoin. We are not used to seeing Bitcoin consolidate/go lower for months. There was only one occasion where Bitcoin went negative for six months straight. That was between August 2018 and January 2019... What followed was the BTC 2019 bull-run which produced over 340% in growth. Right now we see Bitcoin consolidating. 3 Bearish/red consecutive monthly candlestick closed, yet Bitcoin remains trading above EMA10. Above EMA10 = Bullish Below EMA10 = Bearish So Bitcoin can easily move higher long-term if it can remain above this level. If EMA10 breaks with good strength and volume, now sitting at $7843. We can expect Bitcoin to test the $5065 level or EMA50. I am looking at two scenarios mainly and they go as follow: 1) Bitcoin remains above EMA10. Here we follow the green arrow. In this scenario, EMA10 holds as support and Bitcoin does a slow and steady long-term climb towards new All-Time High. 2) Bitcoin breaks below EMA10. Here we follow the red arrow if support is broken. If Bitcoin (BTCUSD) breaks and closes below EMA10, it is very likely to test EMA50 at $5065-$5400. If this scenario becomes true this is the lowest we believe Bitcoin can go. In this case, we follow the red+purple arrows. FEELING THE MARKET We believe that EMA50 ($5000 - $5400) will be tested before a new all-time high is produced. Share your thoughts in the comments section below. Thanks a lot for reading. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
1
Bitcoin 9K Not Yet Confirmed? From Bullish To NeutralBitcoin (BTCUSD) isn't out of the bear hands yet short-term, the move to $9000-$9200 isn't confirmed, but why? As you can see in the chart above, Bitcoin is still trading below EMA10, which is now sitting at $8547. For Bitcoin (BTCUSD) to signal bullish potential short-term, we need a close above this level. Since Bitcoin is trading below it, it has the potential to continue dropping or consolidate some more before its next move. $7,700 Is now the main support that needs to hold short-term for Bitcoin to bounce on a drop. If Bitcoin starts to move down, this is the level to watch... If this level holds on a drop, you can expect a quick bounce and move up. If Bitcoin drops and $7,700 breaks, we can expect it to move lower. The RSI hit its lowest since November 2018 and is hovering near the weak/oversold range. Volume is weak and favoring the bears. Bitcoin is now consolidating its last drop... And what happens while Bitcoin consolidates? ...The altcoins continue to grow... Conclusion We are now neutral on Bitcoin short-term with sideways-bearish tendencies. After EMA10 has been conquered, we look at Bitcoin from a bullish perspective on this timeframe. Where do you think Bitcoin will go? Visit my profile for many, many, many more trade ideas for you to enjoy... Thanks a lot for reading. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
Bitcoin Weekly Important Support Levels | Fib. 0.786 ($5,441)Today's drop makes it clear that Bitcoin (BTCUSD) is going to retrace as we were expecting... But how much lower can it go? Let's take a look at Fibonacci proportions for answers... Bitcoin reached a peak in late June completing a move that started back February 2019... As it moved lower, it found at the 0.382 Fib. retracement level from the last bullish wave. Here we saw a bounce and consolidation that lasted for almost three months. With this level (~$9700 on average) holding the price. This level has been broken and Bitcoin is now moving lower. First stop was 0.5 Fib (~$8,500). Next is EMA50 or ~$7,900 as mentioned in my previous updated. If this level fails, then the next Fib. support that follows is $7,242, which is the 0.618 Fib. from the last bullish wave. This move is still developing, but the momentum has now shifted completely towards the bears... We have been warning for weeks... Feel free to leave a comment if you have anything to share... Thanks a lot for reading. Namaste.
BITSTAMP:BTCUSD
by AlanSantana
Bitcoin Weekly Closes Below EMA10 | Bear Mode Is IN! | $7,929?Bitcoin (BTCUSD) just closed below EMA10 on the weekly timeframe, let's get back to the basics... Back to keeping it simple... Above EMA10 = Bullish potential Below EMA10 = Bearish potential Bitcoin's bearish potential has been activated on this timeframe, if BTCUSD remains below EMA10, it is very likely to move lower and test EMA50, which is now sitting at $7929. There is strong support at around ~$9,000 which needs to break first before EMA50 can be tested as the next support. For Bitcoin to reverse, the first barrier to break is a close above EMA10 ($10,070). After this level is broken, we can consider higher targets on a bullish perspective. Right now we are looking bearish. Thanks a lot for your time. Namaste.
BITSTAMP:BTCUSDShort
by AlanSantana
Bitcoin In Bearish Mode | Chart Signals | Can Go Lower!In my last update for Bitcoin ( BTCUSD ) I mentioned "bearish tendency", because Bitcoin has been moving lower since it hit a peak on the 26-June, we can easily see lower highs being printed... But since the 28-July, we are also seeing higher lows. This is all a period of consolidation but Bitcoin can still move lower before moving back up. Now, the signals... Bitcoin Bearish Signals The RSI is clearly trending down. The MACD had a bearish crossover. BTCUSD price is trading below EMA10 and EMA50. Bearish TD Sequential. This is all pointing to another drop. The drop can be quick big and recover fast just as it can be short-lived and small... Whatever happens, we believe that Bitcoin will bounce regardless of how low it goes. Move your focus to the altcoins and comeback when the Bitcoin consolidation period is done. Thanks a lot for reading. Thanks a lot for your continued support. SUCCESS IS AVAILABLE FOR ALL Success has nothing to do with luck, with your age, with your finances nor where you are from. Success is not something that is saved for the few... Or something that cannot be achieved by most... Success is available for all of us. You just need to figure out your true wishes, your true heart desires, your real-life goals... Just this one simple thing makes success achievable by all. Enjoy life... Be smart... Be happy working as you want... Because success is already yours! Namaste.
BITSTAMP:BTCUSDShort
by AlanSantana
Bitcoin Moving Lower | 70% ROE on 8X Lev. Full Trade | INIf you followed my recent trade ideas for Bitcoin (BTCUSD), you are aware that we were expecting this drop and went SHORT short-term. Multiple signals were pointing to a drop, namely: BTC moving below EMA10. Peak hit on the 6-Sept. Bearish indicators. Altcoins market time to move up. You can see all the details by clicking on the image below: Now, we are active with a high-leverage trade at 8X that can reach up to 70%+ ROE easily... Feel free to hit like if you would like to see the full trade details. Will share at 111 likes. This is for experienced/advanced traders only... This is not financial advice. ________________ Here you can see our recent leveraged trades Ripple (XRPU19) Can Do 300% ROE on 7X (Bullish Chart Setup) EOSU19]8X]LONG]314.% ROE] High Risk, High Profits Lev. Trade Additional charts Litecoin (BTCUSD) TOTAL Cryptocurrency Market Capitalization | Keeping It Simple! Market Cap BTC Dominance Breaks Support (Where To Next?) Thanks a lot for reading and your continued support. Namaste.
BITMEX:BTCUSD.PShort
by AlanSantana
1
Crypto Total Market Cap Exclude BTC (TOTAL2) | Bulls IN BearsI am looking at TOTAL2, the index for the total cryptocurrency market capitalization excluding Bitcoin ... Calculated by Trading View... Here we have some signals to look at that can reveal potential scenarios for the future of the altcoins market capitalization... Let's take a look: First let's notice the "support trendline" which is now in play. If this trendline is broken we can expect TOTAL2 to move lower and test the 0.786 Fib. retracement support level from the last bullish wave. Staying above this trendline can lead to a bounce up and test of EMA10 (79) followed by EMA50 (88). We also have a falling wedge pattern and a neutral RSI. Our main scenarios are drawn on the chart. We believe TOTAL2 will grow in the coming months with potentially only one last strong drop left. What's your take on where this index is headed? Share with us in the comments section below. Namaste.
CRYPTOCAP:TOTAL2
by AlanSantana
Bitcoin Strong Bounce, Going Higher? | $11,300INOur next target remains at $11,150 - $11,300 based on my previous analysis, which is playing it nice. Right now we are seeing a strong bounce for Bitcoin (XBTUSD) after hitting EMA10. We can see good volume and momentum building up. Above EMA10 we aim for our next target at $11k+. If Bitcoin moves lower, we look again for $10,500 (EMA10), followed by $10,100 - $10,200 as main support. Feeling the market: Bitcoin can easily move higher. Namaste.
BITMEX:BTCUSD.PLong
by AlanSantana
Bitcoin Bounce INPlay | Can Hit $10,900 But Not There Yet!Bitcoin (BTCUSD) is showing a low volume bounce while trying to break slowly above EMA10. We are seeing multiple signals that are pointing to move up but multiple resistance levels are to be taken out first. The blue trendline is the main resistance that needs to be broken for Bitcoin (BTCUSD) to move higher. If this level breaks, we aim at EMA50 ($10278) followed by $10800-$10900. Bitcoin's price is already moving above EMA10. (Bullish) Moved below EMA100 (light blue rectangle) only to bounce back up. If Bitcoin can remain above EMA10, it becomes very likely that it moves higher... Hidden bullish divergence can be spotted on the RSI. (Bullish) Low volume. (Bearish) The set up is already in play, the only thing needed now is for the bulls to follow up and we can see Bitcoin grow to $10,250 or higher all the way to $10,900... It all depends on the daily candle close. Where do you think Bitcoin is headed? Share with us in the comments section below! Namaste.
BITSTAMP:BTCUSDLong
by AlanSantana
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
IN Bitcoin Looking To Retrace, $10,400 Possible, Full Analysis!The Bitcoin charts are changing and the BTCUSD pair might be looking to retrace... But we have multiple scenarios that can play out, so let's take a look at those and where are the relevant resistance and support levels. We start with the chart as it is now: Bullish Bitcoin : Bitcoin (BTCUSD) made a strong bullish move and grew by 35% from the 28th of July until the 6th of August. After reaching a peak price at $12325, we are seeing early signals for a potential retrace, but Bitcoin remains bullish as long as it is trading above EMA5/EMA10... Here are the different scenarios: 1) Bullish Bitcoin. Bitcoin moves higher past $12325 and challenges the next resistance at $13,200. The main challenge to break to move higher here is now sitting at $12,325. 2) Bearish Bitcoin. With three days in a row failing to break the last high and EMA10 not being tested since the first of August, Bitcoin can potentially move down looking first at $11,260 as support (EMA10), followed by $10,400 (EMA50) if EMA10 can be broken with good strength and volume. For the bearish scenario, we can see the MACD starting to curve down. A bearish divergence can be spotted on the RSI but this one still remains strong above 50. Feeling of the market. Looks like Bitcoin (BTCUSD) can still make a surprise move and change what is starting to appear as an imminent retrace... The feeling we are getting is that there might be one final push up... If this push doesn't happen, expect for BTCUSD to move down and test $11,260 first to either bounce here or go a bit lower before we can analyze the next move. Market action. Any trading above EMA10 (green line / $11260) we consider bullish and Bitcoin's bullish potential remains to test higher resistance levels/targets. If Bitcoin breaks below EMA10, we focus on the bearish potential and test the next support. Altcoins break. Looking at some early signals coming out of the altcoins pairs, Bitcoin might start its retrace within 5-7 days... What about you? Where do you think Bitcoin is headed next? What about the altcoins market, is it gone? Share your thoughts with us in the comments section below... Namaste.
BITSTAMP:BTCUSD
by AlanSantana