We are still getting mixed signals from Bitcoin (BTCUSD), lots of uncertainty right now surrounding the cryptocurrency and global markets.
On the chart above, we can notice that the trading volume is really low, making sudden/surprise moves even more probable than before.
Even though Bitcoin is bouncing, trading above EMA10 and slowly creeping up, the market sentiment is extremely bearish, so prices are likely to go up.
Remember that these markets tend to move against the masses or popular believe. This is not a signal that can be used to trade, but it can help support your bias.
If Bitcoin manages to conquer EMA50, we can look at the magenta dashed lines as our main targets.
On a drop and close below EMA10, the orange and blue dashed lines are for support.
Feel free to shit like to show your support.
Namaste.
Comment
⋅
Below you can find some altcoins...
✳️ Binance Coin vs Bitcoin | Multiple Timeframes
✳️ Crypto Total Market Cap. (Mixed W/ Bulls Favored)
The last analysis for Bitcoin (BTCUSD) I had doubts about the next move because of the mixed signals... I looked at the PAXBTC and ETHUSD charts and these gave me the final support and we went up... I am still seeing PAXBTC bearish (which is bullish for Bitcoin) and with ETHUSD the bulls are also slightly ahead (which is also bullish for Bitcoin).
So I am comparing charts now that are related across platforms in order to look for additional signals that support my bias... Let's see how it works out this time.
Comment
⋅
Check this out... TRXM20 (Litecoin with leverage on BitMEX) is at 55% and we haven't hit our first target...
Tron vs Bitcoin (TRXBTC) is also looking good... Feel free to visit below:
@alanmasters, thanks for your idea. I see price will probably go up as we in ascending channel.
AlanSantana
⋅
@ArShevelev, Good to know you too are bullish, thanks for sharing.
What's your up target?
Trading-Guru
⋅
Hey Alanmasters! Would love your feedback on this one. When I look at your chart I see a lot of interesting horizontal levels such as your 5759.1 and 9691.4. But when you look really close, you see that there are some really beautiful round numbers as well that can act as support or resistance.
I added them here along with a tutorial on how to find them and how to use them in my own idea. Perhaps this is something you can use as well!
AlanSantana
⋅
@Trading-Guru, Thanks a lot for sharing... I will take a look at it in a few minutes.
x0rcode
⋅
100 % downside because the volume is declining since the „crash“. Volume is a very very important...