alanmasters
Long

SHORTERS Knew Bitcoin Would Break Up! (GREEN Week Ahead)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We've been looking at Head & Shoulders patterns, Bear and Horse flags, Elliot Waves drawings and stories about waiting forever before opening a trade because we don't know where Bitcoin will go... But Bitcoin SHORTERS clearly knew that Bitcoin would break up.

Let's take a look at the SHORTS vs LONGS chart and see how is that... HIT LIKE TO CONTINUE... and I hope to have you entertained for a few minutes... Let's get started!


BitFinex BTCUSD Longs & Shorts Chart

We start by looking at the chart:
On early November, Bitcoin SHORTS were going for the lows, they were crashing hard from a peak reached in mid October and had a bearish crossover on the 3rd November, marked with a yellow circle on the chart.

The RSI was coming out of oversold with bullish divergence , Bitcoin had printed a high volume higher high candlestick , so bears were wondering if the next break was going to be a moved up and closed their shorts. This was clearly reflected on the SHORTS & LONGS chart, as the shorts went searching for support (red dotted line).

By the 20th November, SHORTS were increasing with momentum, having a bullish crossover vs the LONGS and now moving to reach all time highs.

SHORTS had their rally and reached all time high by the 7th December. Here I shared few charts, before and after, mentioning that this would be the top and the SHORTS would crash really hard and it happened, but it went relatively slow for a while...

LONGS only started to go up after the 27th December when a higher low was created compared to the 19th Dec. (purple dotted line). Here the LONGS started to move up strong, yet Bitcoins price created a lower low, marking divergence between price and Indicator. Here is the chart, you can see it marked with a purple dotted line and compare with the SHORTS vs LONGS chart above:

On the 3rd January, before the last breakout, the SHORTS had a massive drop and bearishly cross the LONGS and is now aiming for support (red dotted trend line ).

SHORTERS knew ahead of time that Bitcoin would go up and gave us a clear signal. But we opened a trade before that around $3500 - $3650. You can find it here:
Note: This trade is based on BTCUSD (CoinBase, BitStamp , XBT, etc.) price and not BTCUSD (BitFinex).


Bitcoin ( BTCUSD ) Additional Bullish Signals

We can see what appears to be an ascending channel on the daily time frame, which supports other bullish signals:

Safely trading above EMA10, which was broken with momentum and volume and there isn't much volume on the retrace (healthy retrace I call it):

The RSI remains bullish and the MACD is entering the bullish zone, something it hasn't done since May but it still needs more time for this signal to be strong.

We also have several bullish signals coming out of the weekly time frame, but I'll leave those for another analysis.

Looking at the bearish side, we have several strong support levels that Bitcoin will test on the way down.
First strong support is EMA10, which is now sitting around $4012 on this chart. Followed by $3840.

These are Bitcoin's main support on the daily time frame. If these levels were to break, we would stop at $3500 - $3650 and finally $3215.

The immediate resistance is sitting at $4174, which is EMA200 on the weekly time frame; this is a very strong resistance right now.

If this resistance is broken, Bitcoin goes straight to $4242 (EMA50), which has been the biggest challenge for Bitcoin on the daily time frame. A break of this level with strength, can lead Bitcoin to $4800 or $5000+.


2019 Marks The Beginning of Cryptocurrency ( Bitcoin & Altcoins)

This year will bring very strong awareness to Bitcoin & Altcoins (Cryptocurrency) but you can expect the BULL party in 2020. Don't get me wrong, I believe that 2019 will be extremely positive, profitable and green for this market but the real bull run comes in 2020 for me... What about you? When will Bitcoin Boom Again?

Let us know in the comments section below...

And make sure to Hit LIKE if you enjoyed this post.

Wishing you an amazing year 2019.


EVERYTHING WILL BE SOLVED TODAY

What is it that is changing your mood today?

Is it something challenging?

You know it has a solution, but yet you worry night and day?!

Is it another challenge that for you, is yet to come?

Up until now every blockage has been removed from your road.

So keep on meditating and praying, do it for as long a time as it takes.

If you do it long enough...

EVERYTHING WILL BE SOLVED TODAY!

Namaste.
Comment: Looking bullish within a bull flag:

Needs more time.
Comment: Ascending Channel + Bull Flag:

Pretty healthy retrace holding at EMA10 after hours of consolidation.
Comment: Bitcoin (BTCUSD) Price Action (8-Jan):
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Related Ideas

Hey Alan. Just wanted to stop by to write a comment to support you. It is a lonely world :/ people not buying those 100s% of growth anymore? You are a little earlier for that. Remember 220$ is coming. Maybe not this year but we will get there. :)
+2 Reply
alanmasters ChartsOnTime
@ChartsOnTime, Thanks for the support.

As I always say... Patience is key.

Namaste.
Reply
this is great, but alts will produce better gains soon, better get ready now.
BATBTC 200% upside, DOGEBTC 250% upside, more alts reviewed in my chart repo, feel free to review them.
+1 Reply
@asgcorp, Thanks for sharing. I believe alts will do good as well.
Reply
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