alanmasters

Bitcoin Correction Over? Bitcoin Is Going Bull Mode; Yes or No?

BITTREX:BTCUSDT   Bitcoin / Tether
Bitcoin             has been going strong in the last few days, which is awesome.

Late January I had my expectations set for Bitcoin             to start stabilizing by mid-February. Later I updated this "prediction" to mention stabilizing and / or going up by mid / late-February. We will see how that goes.

Bitcoin             has been doing good lately, but we are not "there" yet.

I am waiting for this day to close, hoping that Bitcoin             can break and stay above $9,500 to signal strong bullish momentum. We are bullish now, on the short term, but still there are some barriers that needs to be broken.

Above you can see the 4 hours chart (4 hours per candle), we have many positive signals, as well on the 1 Day chart, but these charts still need more time to develop a stronger signal. I am really enjoying the increase in price, but I am waiting for this day to close to post my next Bitcoin             update.

Remember, I am a huge Bitcoin             supporter and I love the idea of it and the entire cryptocurrency market. It offers great opportunities for many of us, all around the world. But we are still on a downtrend, so it is better to wait for clear confirmation, before acting on a conclusion that hasn't been reached yet.

Anyways, things are pretty simple, here are some scenarios for Bitcoin:

(1) Either Bitcoin             keeps on gaining momentum and moving up, signaling more strength if we close the day above $9,500, or...

(2) Bitcoin             slows down but doesn't go down, it starts going sideways, accumulating for the next step, or... finally...

(3) Bitcoin             breaks down, and go and test our support levels again.

For now, we are moving strongly up.
Let's hope we can keep up the momentum, I will be sharing a full update, once we reach our goal.

Namaste.
Kommentar: Bitcoin always tends to exceed all expectations... Remember that.
Kommentar: Bitcoin had a great close yesterday. We had a full green candle with a #1 count on the daily chart.

The MACD has now fully crossed over and is trending up with plenty of room for growth.

1D chart:

On the shorter time frame, the 2h chart, you can see the SMA 20 & 50 curving up and crossing the SMA200. This is a good signal but the RSI is hovering around the overbought line.

2H chart:

We have good signals all around but the best one of all is the price, it keeps on going up strong.

We are happy with Bitcoin, let's just keep pushing so that we can keep on moving up.
Trade ist aktiv: Take a look at our next test, the EMA & SMA 200. You can target this range $10,000 to $10,200. This is where we will find the next resistance.

Take a quick look at the 4h chart:

Bitcoin right now is going up. It is consolidating to test our next target / resistance.

So I am seeing it as bullish with tendencies of going sideways... I am not seeing many bearish signals but I am seeing many positive ones.

Let's keep on going UP!
Kommentar: Bitcoin is now challenging the $10,000 price level on Bittrex.
Bitcoin keeps on moving up strong!!!

1 hour chart:
Trade ist aktiv: Bitcoin fought hard around the $10,000 to $10,200 level as the charts said it would, and went back down. Now wait for it to retrace before we can try again.

The last two days have been positive, the daily chart looks good for the day. The shorter time frame are on retrace.

Here is the daily chart, it shows that we are still going up with the need to retrace to gain more momentum:
Kommentar: The way Bitcoin is going now, if it were to retrace slowly, we can look for support level around the $9,000 to $9,200 range.

If it reverses hard, we can go straight to $8,100+ levels. Any harder than that, and we will have plenty of time to post an update about it.

So far Bitcoin is showing lots of resilience. Which is great in my opinion, but we stay open for the different routes this coin can take.
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I'd say at this point we're going bulls to the wall at this point, ~10k is probably our last retrace before mewn.
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Dear Alanmaster and my TradingView colleagues... came across this interesting post: "Ethereum founder warns cryptocurrencies 'could drop to near zero at any time' - Business Insider Australia

https://apple.news/AXzEVggCBQLe6znishkJCwQ

What are your thoughts on this? Sounds very irresponsible coming from someone like Vitalik IMO.

Master, i really look forward to your thoughts on this as i have been following you for a while now and with all due respect, i Trust your judgement. Though i am not a premium member of yours, but still i have for the first time managed to make some Money (in any type of trading) by following you.

Thank you from my Heart !!!

Namaste...
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FourthFloor mahendrap
@mahendrap, This was clarified in later interviews/statements and his rationale was that ~95% of current cryptos will drop to near zero because they are A) scams B) Scams or C) shit, he went on to say there will be a select few (btc/eth) that will come out prosperous, just in the same way of the Dotcom bubble where 80% of companies went under.
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I don't think it could go down hard during SuperConference this weekend
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Namaste : )
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seems like all the signs are showing that we will go down for a bit?
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Offcourse it will go down to 9200 or 9000. Binance is a big firma with big money and it will become available in a view hours, right ?
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i love your matter of fact nature. thank you
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Hey bro... why do you modifiy the vol script to 30 value? the preset is 20... why 30? thanks a lot.
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@illimors, I didn't modify it, that's the way it was by default.
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