Bitcoin (BTCUSD) is now printing the bullish engulfing pattern on the 4H timeframe, telling us that it can continue to grow right away if this pattern confirms.
We can see EMA10 ($7742) tested and a strong bounce with good volume and bullish indicators.
For Bitcoin to continue higher, the first barrier to break is ~$8000, the last high.
The immediate support is sitting around EMA at $7741 and $7690, this is the main support if prices start to retrace. Any lower and we look for EMA50 and/or $7400 - $7450.
Right now we are bullish and aiming higher...
Previous analysis: Bitcoin (XBT) Challenging EMA300 | Can Lead To $8,111+
Thanks a lot for reading.
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Namaste.
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$9200+ More possible now than ever...
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Moving up fast now...
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- General Bitcoin & Altcoins Market Update And Prediction For 2020
@rockyPetr, See it all the time... They get out of alts for one of 2 options: 1- BTC pump; 2- massive dump incoming so need it all in one asset.
I'm leaning #2 as alts led up and now lead down perhaps. Still in for 40% of my long but expecting it to get stopped out in profit. If option 1....gravy.