alanmasters

Bitcoin v USD -Daily & Weekly- Trend Line (Up Or Down? Question)

BITFINEX:BTCUSD   Bitcoin / Dollar
Above I am sharing with you two different Bitcoin             charts, very simple and basic charts. These are Bitcoin             charts, one is daily and the other is weekly.

Let's take a look at what I am up to now?! Actual, I LOVE YOU... Let's have some fun...

Let me ask you a question, but before that... Let's chat a little bit...

Now, I know you are aware of the "Bubble Chart", this is a very famous chart that it is being shared all around and it looks very similar to the Bitcoin             chart above, pointing to a point /
stage where the bubble is fully crashing and finally putting Bitcoin             in the low $100s - $1,000s, which I don't believe it is likely to happen but still can happen anyways, so this is where my question to you comes into play.

Anyways, here you can take a look for yourself, at the charts, and let's see what we can find out...

*** Bitcoin             Chart Analysis by Alan Masters: Daily

Let's take a look at the daily chart first. The one on the left.

- The green line is the trend-line, this is basically support. This is the price level that Bitcoin             has been holding on to up until now. You can see the bounce from the $6,000 level on the far right which is a long stick on a green candle.

- Where do I want to go with this? Look at the indicators... - This is all going to end in a question -, the MACD is hovering around low levels and curving to go up. This curve hasn't been completed, but this is what I can see now, and what you can see now, by looking at the chart on the left.

- You can see that the RSI bounced from a level not seen since 5 months ago (around Sept. 2017). Pretty low if you ask me, also bouncing clearly right before reaching the oversold line. The STOCH also bounced from these low levels.

- So we are looking at the trend line , the strong bounce from it, the MACD curving and the bounce the RSI and STOCH had from very low levels that hadn't been seen in months... Let's keep going...

*** Bitcoin             Chart Analysis by Alan Masters: Weekly

- On our right we have the weekly chart. The RSI here is sitting on a level that it hasn't seen since 2015. This is something new for Bitcoin             , I don't know how your year mentality works, but here in Cryptos, 2015 is either really far away, or really, really, really far away. So basically these are levels that haven't been seen for a while.

- All the indicators are trending downward on the weekly chart. But the OBV is already changing tune. The STOCH is trying to curve, the MACD is going low but the curve can be shaped above the middle line and the price bounced strong from the trend line on the main chart. The EMA30 became a resistance point.

*** Finally... We get to the question...

Looking at these charts above, and these signals, which I just described... Let me ask you this:

Do you really think Bitcoin             will go to $100s - $1,000s, or work its way around these levelsm $6000 - $8600, before it decides if it either wants to go sideways and consolidate or go up?

That's my questions, for you, my infinite             , eternal and special, unique Divine             Soul.

Namaste.
Kommentar: Bitcoin had a good close yesterday and momentum is building up. We will be facing resistance soon, here, take a quick look on the 4h and 1D charts:

4h -

1D -
Kommentar: We can look for a close above the $9300 - $9500 range to confirm more strength on the daily chart. After that we go from there.

If these levels are not broken, we can expect sideways movement or going back down, we will know soon. Let's wait for this week to close to see how next week will go.
Kommentar: For general updates on Bitcoins price and movement please follow the following trade idea (click the image below):

Kommentar: Bitcoin started the day really good today, we are working above the resistance line, which is great but one quick questions: Is this a dead cat bounce or will this hold?

I will let the market decide.

Here is the 1H next to the 1D charts, I am using my updated chart here but do not pay attention to it, you can focus on the fact that we are above resistance and we need to close daily above it for Bitcoin to show more strength.



Even though I am enjoying this price, for me this isn't enough to start to party, but definitely a step in the right direction.

Short term we need to correct a bit if Bitcoin wants to continue further... I will leave the rest of the analysis for my next update.

Thanks for taking the time to read this message, I hope you enjoyed it.

Namaste.
Trade ist aktiv: Bitcoin is still holding strong. The resistance line that was broken already served as support, you can see this on the 4 hours chart.

You can also see, on the chart that I will be sharing below, that the EMA7 crossed EMA21, this is a bullish signal.

4h charts:

I am not still bullish on Bitcoin, until Bitcoin gives us some more. My intention is to write a fully updated trade idea, but I am waiting until I get a better feel of the market, right now I haven't been looking at it for long enough.
Trade ist aktiv: Bitcoin is doing really good right now, our close today will give us a lot of information as to what might come next.

We have to aim to close above $9,500 to clear some more resistance points. If we close above this, 00:00 UTC, Bitcoin will be signaling even more strength, which is great for us and the entire cryptocurrency markets.

Here is the 2h and 1d charts:

2H:

1D:

The indicators are looking good we just need more volume and momentum, which is building up slowly.
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When do we enter? At 9500?
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Please in the 4h chart, which one is the 7ema - the purple or the blue? Thanks a million for your great work!
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This is such a perfect bull trap. 9-10k range is where plebs fomo and think it's time to buy and it looks so bullish. But then u dump it to the ground (aka 6k retest or lower) and make all them plebs who bought there to panic sell to the same whales on the way down. That's exactly what i would do if i was a market maker.
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Chapsou ckaty
@ckaty, it's also my opinion, but it looks like the probability are not on our side anymore ... All thoughts leader were talking about a fall to 6K or lower few days ago and not anymore.
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ckaty Chapsou
@Chapsou, Dont be fooled by this rise. Be patient. We'll find out soon enough
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@ckaty, but you said it will test 7.5 8k and then going up to 12.5 and 14k here honey?
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Yay. A massive day for Bitcoin bulls - they have won the argument at 9k - now a rally to 12223 - reverse head and shoulders too

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