As long as Bitcoin remains above EMA50, it remains strong and keeps its potential.
On the other hand, Bitcoin is also battling EMA10 (green line) right now, not being able to close above it for the past 4 days. So we have Bitcoin trading within EMA10 and EMA50, we are obviously looking for a close above EMA10 to further support our bias. These are the only two indicators we need for now.
Bitcoin Weekly Time Frame (TF) Update
We are going to be looking at EMA10 again but in this higher time frame. Here is the chart:
- Bitcoin hasn't traded above EMA10 since August 2018, it happened just briefly and then it quickly fell back down. Before that Bitcoin managed to break above EMA10 and EMA50, back in July, only to fall again.
- EMA10 is now sitting at $3903 on this time frame with current price sitting at $3915 at the time of this writing. The weekly candle closes after tomorrow, in 49 hours from now, and a close above EMA10 would be beneficial to the bulls and a first since late August 2018. Surely a milestone that is needed if Bitcoin wants to start a new trend up.
- The is showing a clear crossover which will be interesting to see how it will play out.
- Overall is still to low. Good is needed to confirm the break above EMA10. A passive breakout can happen but it would signal that Bitcoin will continue moving with slow .
My view: I remain on Bitcoin as long as we are above EMA10 on the weekly and above EMA10 and EMA50 on the daily time frames. These are good indicators to use now as they have been holding and supporting the price nicely.
I would like to see how the second half of March will play out...
Altcoins market update
The altcoins are doing good. More and more altcoins are generating massive profits and there seems to be no stop to it.
If you visit my profile and receive the hundreds of updates that I share, you are aware of a large number of altcoins generating massive profits over and over.
So the altcoins market is doing good and I am seeing more and more altcoins breaking above strong resistance easily and preparing for a mini bull run. Profits generated in the 120-250% range over and over.
THE MONEY TREE
How to grow a money tree?
You can grow a money tree with positive affirmations and visualizations.
Trees take time to grow, to develop, to show/share and bless us with their fruits.
And so it is the same with the money tree that you can now grow inside of you.
Yes you can use positive affirmations and visualizations, but just like trading, it will take patience to be able to collect and enjoy the fruits of your labor.
So welcome to my MONEY TREE... Come try this quick positive affirmation with me...
"I accept abundance in my life, all of the time..."
"I am grateful for everything that life blesses me with every single day..."
"I am grateful for this very moment... I am grateful for you today..."
"And from the whole of my heart, I just want to tell you... BIG, BIG, BIG, BIG, BIG, BIG, BIG THANKS!"
Thanks a lot for reading.
Here is the chart:
In simple terms:
(1) Below EMA50 bearish potential.
(2) Above EMA10 bullish potential.
(3) Inbetween (now), sideways.
Thanks for reading...
Bitcoin dropped on the hourly time frame just to quickly move back up, printing a hammer. This candle closes in 10 minutes, so it can still go back down or higher up:
EMA100 (blue line) clearly working as support on the 4H time frame: