alanmasters
Long

Bitcoin vs USD: Wake Up! Boom Up! What's Up? ... BITCOIN!?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin             just woke up today and had a huge boost in price. Take a look at the last candle...

What's your opinion about this "pump"?

What are the "news" and events that you consider caused such a huge increase in such a short period of time? (Please share your opinion with us in the comment section).

The volume is great as well and this can be the start of something nice.

Let's see how it goes.

You can see the blue lines on the right at the chart above, as some of the levels where Bitcoin             will face resistance when going up. Let me detailed them for your...

Bitcoin resistance levels ("targets")

(1) $8400
(2) $9500
(3) $11750
(4) $13500
(5) $14600
(6) $19891 (All time high)

Note: These price levels are not exact. Resistance can be faced within a 10% range below and above each target price.

Enjoy.

Thanks a lot for reading.

Please, if you enjoy my trade analysis, or at least some of them, feel free to like, follow, share and comment. This will help me grow...

And I honestly appreciate your support.

Namaste.

Oh, and remember, that it doesn't really matter what happens...

YOU DESERVE THE BEST!
Comment: Quick look at the weekly chart (it seems that we only need a few more weeks before we can see a very strong move up):

Closer look at the daily chart (quite a few bullish signals taking form there):
Comment: Bitcoin had a very nice close yesterday. We are facing some resistance, but we are looking pretty good so far.

Here is the daily chart after the daily candle closed:
Comment: Bitcoin keeps on doing its thing.

- We are now trading nicely above the 200SMA line on the 4h chart.
- SMA20 crossed SMA50.
- Both of these are bullish signals.

Here is the 4h chart:
Trade closed manually: I won't be tracking Bitcoin here anymore. Many great Trading View members are already doing an amazing, please check those, and come check my profile for the best Altcoins to trade for the short, mid and long term.

Thanks a lot for your great support.

Thanks for reading. I appreciate it.

Namaste.
Comment: Bitcoin is breaking out again... and I love it!

Comment: We are now seeing the "Monday Drop" here with Bitcoin. Do not let it fool you, let Bitcoin consolidate, we will be back on track in a few days.

Here is the chart:
Comment: Looking at the 4 hours chart, doesn't look like Bitcoin wants to go down, it looks like it wants to consolidate for a while longer...

I also spotted a triangle formation... we will see how it goes:

Comment: We can also draw a channel that shows Bitcoin trading within a range for the past few days:
Comment: Bitcoin keeps on doing great. Looks like we will finally break the negative trend line that was created in December 2017 when Bitcoin started to go down.

Once we break, close and remain above this trend line (red dotted line), Bitcoin will start a new trend. It can go sideways just as it can start to go up (up trend).

Let's take a quick look at the charts:

Daily:

4 Hours:

Thank you more for the likes, shares, follow & comments.

Thank you more for reading.

Thanks a lot for the continued incredible support.

Namaste.
Comment: We are facing now the "very strong" resistance line on the daily chart using the "log scale" view.

You can see that each time Bitcoin reached this trend line it has gone down for the past few months... Will we be able to break it this time?

Here is the daily chart:

Already above it on the 4 hours chart:

And finally, this is how the weekly chart looks:

Enjoy the charts...

Thanks for the likes, follow, share & comments...

Namaste.
Comment: We are already trading above the strong resistance line and our target on the 4 hours chart. We need to close the daily and weekly candles above it to show good strength.

Comment: A different view, the 12 hours chart:

We are looking bullish, but we need more momentum if we want to break up strong.

You can find different support and resistance levels on this chart.

Enjoy it!

Namaste.
Comment: Bitcoin had a very strong close above the downtrend line, I am 100% sure that it has been broken.

Here you can see the chart:



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Reply
Strong resistance at 8900. Fib level from all time high retrace to bottom, huge volume node, and the bottom of Ichi cloud on 1day.
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Very Nice Quality work!
+2 Reply
alanmasters OBKTRADER123
@OBKTRADER123, Thanks.
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Hi @alanmasters thanks for the lovely chart it's Moving very nicely even though it's could be a false berakout non ???
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@pitchi, There is the possibility, but if we close the week as well above the trend line, we will be in a very good position for a longer term lift off.
+2 Reply
Hi Alan, thanks for all the analysis. I have a question. Since we hit 8900. We are right now between the EMAs. What you think will happen now ? Assuming we picked out of down trend. I have a feeling that we are on a crossroad, if over 9k, it's our new resistance, if we fall now, it's our last correction. Would you say so ? I bought in at 6700 and still holding. Should I take profit now, or wait ? I am kinda puzzled now.
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@biggriz, You are right, I agree with you but now it is for the market to decide.
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I like you @alanmasters
+1 Reply
@xerxes300, Thanks a lot for the support! :)
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