AlanSantana

AlanSantana

Tomorrow we have the monthly candle close for Bitcoin... What should we be looking for? We have many clues to look at but we will focus only on 3 in this article. Bitcoin Monthly Signals 1) This is the first month that Bitcoin will close below EMA10 ($44,455) since March 2020. 2) We have bearish indicators. The indicators, MACD and RSI, are both on the...

AlanSantana

We just looked at Bitcoin short-term, BTCUSD 1H, and we are seeing some resistance around the 26-Jan. high... What does the daily chart has to say? Bitcoin Daily | The Same Barrier Holds We have Bitcoin trading within a steep declining channel. We are all waiting for a bottom to be drawn, for a reversal to take place but so far not much has happened. We can...

AlanSantana

Bitcoin (BTCUSD) has reached local resistance, we can see this thanks to the candlestick charts. Notice back in Jan. 26, we have a strong rejection at "Local resistance". Yesterday afternoon, BTCUSD hit the same level, marked in yellow here, just to be rejected again on two long upper wicks. We also have a lower high recently compared to 26-Jan. If BTCUSD can...

AlanSantana

We just looked at the SPX, NDX and DJI on three different timeframes, that is Daily, Weekly & Monthly, they are all bearish. Bitcoin (BTC) is also bearish , actually, it went ahead and is already more advanced into its correction, which also means that Bitcoin's correction will finish first before the major USA indexes. Make sure to hit LIKE now and let's get...

AlanSantana

We are starting to look good on the 4H timeframe for Bitcoin as prices start to recovery. We looked yesterday at a potential bounce short-term on the 1H timeframe , as this moves develops, we can see the bulls starting to re-enter the arena. We have the strong "V Bottom" pattern with unusual volume. Just recently prices closed above the EMA50 magenta line....

AlanSantana

Here we have the monthly chart for Bitcoin, we will see why some additional correction is yet to take place. We are going to start with our classic EMA analysis, and it goes like this... We have a peak in April 2021. This monthly candle closed as a Doji, signaling indecision and the correction that took place next. The correction after April's peak price in...

AlanSantana

Here we can appreciate how EMA100 (blue line on the chart) is working as support for Bitcoin on the weekly timeframe: This is an important level that can lead to consolidation before the next move. Bitcoin Weekly Chart Analysis | EMA100 Looking back at Dec. '17 peak prices for Bitcoin, the correction that followed found support exactly at EMA100. The...

AlanSantana

Not only Bitcoin (BTCUSD) but also the S&P 500 Index (SPX), Nasdaq (NDX) and the Dow Jones Industrial Averages (DJI)... All major markets are experiencing strong downward pressure. Bitcoin has been doing a classic ABC correction after a bullish wave. We can first appreciate EMA100 being tested as support for multiple weeks in these corrections; When we go...

AlanSantana

Here we have the long-term chart for Bitcoin where the last two lows can be appreciated. After the 2017 peak price for Bitcoin at $19,666, we had a 52 weeks correction that ended just above MA200/EMA300 or $3122. Then again we had another peak price in June 2019 at $13,880. This peak was followed by a 37 weeks correction that ended just above MA200/EMA300, the...

AlanSantana

Bitcoin went on to hit a new low and we are super-oversold on the daily RSI. We can see here the RSI also trending bearish on the weekly timeframe while the MACD has entered the bearish zone (below 0). The Crypto Fear & Greed Index stands at "Extreme Fear" and a low 13 points, this is near its All-Time Low. "Buy when others are fearful..." Buy & Hold...

AlanSantana

So far, Bitcoin's correction has gone for a massive 50.7% and we are getting closer to find a bottom. The RSI is at its lowest level since March 2020, almost two long years. We are at 20.38 on the daily RSI signaling that the market is oversold. We are looking at two main scenarios as the chart stands now. Prices for BTCUSD have gone below the 0.786 Fib....

AlanSantana

It seems like forever since we last had a bullish wave for Bitcoin, we've been seeing red since Nov. 2021. Now, things are starting to change! Today, we can see prices moving above EMA10 daily on a bullish note for the first time since September 2021. We use EMA10 as the main indicator to gauge a pairs bearish/bullish potential in the short-term. If prices...

AlanSantana

Looking at the 1H timeframe for the BTCUSD pair, we have multiple bullish signals developing; the path is clear to $44K. Let's get started! First, we have a volume breakout. Volume is a very important signal used for confirming a move. Rising volume as prices challenge resistance is always good. The MACD is on the bullish zone and ready to grow. The RSI is at...

AlanSantana

We know we are at a crossroad and everybody is wondering what the conclusion will be; Bear (red) or Bull (green). Since the beginning of this year, I am of the view that Bitcoin will break upward giving us a small relief rally or "price bounce" as I call it. This would push prices up before any additional bear action takes place. Now, let's look at 3 bullish...

AlanSantana

Bitcoin is looking better and better, patience is key. We are looking at the 4H timeframe and we have a beautiful falling wedge pattern. We can see the current candle moving above the upper trendline of this pattern. (Confirmation only comes after candle closure one hour from now). There is potential to move higher. You can visit yesterday's trade ideas below...

AlanSantana

After looking at the bigger picture, Bitcoin's long-term weekly chart, we go back to the lower timeframe to get a better idea as to what will happen short-term... Is the low in? We have really good support above $40K. That is the $40,000 - $42,000 price range. The longer this level holds, the higher the chances we end up bullish with a higher low. If this...

AlanSantana

Hello my fellow cryptocurrency trader, how is this Tuesday treating you? I am hoping you had a great Full Moon day yesterday... Please, allow me to ask you a few questions related to Bitcoin, reply in the comments with your thoughts. Bitcoin Sentiment The Crypto Fear & Greed Index is now set at Extreme Fear (1), it has been like this for weeks. ...

AlanSantana

We are looking at the Renko chart for Bitcoin (BTCUSD) on the 4H timeframe, we have a buy signal. The Japanese Renko charting system is very useful and easy to understand, it can help you define trends. You can get a buy signal when you get a green "Brick" vs a sell signal when you get a red brick. We have a green brick with high volume, giving us the buy...