Today we are officially looking at a higher high for Bitcoin (BTCUSD) compared to last month's prices and we also get the highest level we've been since July 2019... This changes everything.
Now, $13880 is the next barrier when we look at the weekly timeframe and where prices are headed... Above $13880, there isn't much resistance.
If BTCUSD can break above this level, we will surely see the $16400/$17900 range be hit next and finally another stop at $19,000/$20,000+.
Since the week of March 09 low, there hasn't been that much or strong bearish action.
We see a very strong higher low when we use the candle close for late Dec. 2019 and March this year.
We are also seeing pressure continuously going to the upside and now BTC is aiming to challenge the June 2019 peak.
Chart Signals Bitcoin Weekly
1) We have prices trading above EMA10 and all other EMAs. (Bullish) 2) The MACD is on the bullish zone while aiming higher. (Bullish) 3) The RSI is super strong. (Bullish).
This is the weekly Bitcoin chart as it is now...
I've marked several levels all the way to $48,000+.
The magenta dashed lines are for resistance.
The blue dashed lines are for support.
All the additional details can be seen on the chart.
Feel free to leave a comment if you have any questions.
Namaste.
Comment
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🅱️ What Happens If Bitcoin Breaks $12490? Where To Next? $17,000?
🅱️💾 Bitcoin (BTC) Detaches From The S&P 500 Index (SPX)
@alanmasters, The divine in me recognizes the divine in you too my friend... didn’t anticipating receiving that here, glowing with appreciation...
Namaste 🙏 Friend
@HowToBuyBitcoindotnetdotau, Read the article, we are talking now 14K and 17k.
elyminas
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@alanmasters I think his point is that you are very ambigious with your BTC calls and also I would like to add that you respons very immaturly and sassily to
any sort of critizism sometimes even the most constructive with a "read it - now is... " which is just... not adding to your credibility.
your btc were roughly 60% correct the past month if even... but still like your analsys just think you should work on that. Care to comment?
You just need to reply anything and they come back for more.
My job is to keep them commenting.
My work is fully based on results.
Reading charts is one thing.
Trading is something different.
Writing is different as well.
I put out the content and if people like it they can read it...
If they find it useful they can learn from it, maybe apply it...
If they don't like it they can just ignore it...
I can only do my part.
Everybody has to take care of their own.
Namaste.
elyminas
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@alanmasters, i respect that answer a lot thank you!