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AlanSantana
Dec 20, 2021 9:13 PM

Can Bitcoin Recover Now? End Of Year Rally Early Signals! Long

BITSTAMP:BTCUSD1D
Bitcoin / U.S. dollarBitstamp

Description

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It is true that the bears have been shinning and Bitcoin took a timeout from any additional growth.

We've seen red and red...
Aren't you tired?

We want a bullish Bitcoin... Yes or no?

No need to hit LIKE now or FOLLOW... Let's read first and if you enjoy the analysis...


Bitcoin (BTCUSD) Daily Timeframe Chart Analysis | Early Bullish Signals

Bitcoin peaked 10-Nov. 2021 at $69,000.
It crashed by a massive 39% and this correction has been going for 40 days strong.

Bitcoin is the eternal bull.
Bitcoin is always bullish...

Even if we are to get lower prices;
Nothing moves in a straight line, we have to see a bounce and that's exactly what is likely going on.

Let's get technical.

The first "early signal" is the RSI, it hit its lowest level since May 2021 over 6 months ago.

Once Bitcoin hits oversold it normally tends to move up.

The RSI hit these levels and has been in accumulation mode, after accumulation a bullish breakout is the norm.

If you look at the MACD, still on the bearish side but we are early... See it below:


We have the classic bullish cross after a higher low.

Last time we had this signal, with the histogram going green, prices moved up.

Last but not the least is the EMA50 and EMA100 bearish cross.

This is a mid-term bearish signal but when it comes up an imminent bounce can take places as the green arrows show.

It is not only the chart...
I got this feeling telling me that Bitcoin is going up!

Do you agree?
Feel free to hit LIKE now and FOLLOW!

Thanks a lot for the continued support.

Namaste.
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisBitcoin (Cryptocurrency)BTCBTCUSDaltcoinscryptoCryptocurrencyalansantana
Comments
Gunslinger2005
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very nice. you tipped 100 on another posters thread when he said bottom was in and accused him of spreading false information. and post this
Gunslinger2005
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lul
peterbhc
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BTC cup and handle is targeting 100k
eriksoley
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@peterbhc yessss
AlanSantana
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@peterbhc, Which timeframe?
peterbhc
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@AlanSantana, 1D
AlanSantana
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@peterbhc, Oh ok. Nice one. I see what you mean.
louistran_016
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@peterbhc, i think 51 - 28.6K is the cup and 51 - 42K is the handle, but the larger structure seems a bit farfetched, that cup looks like it has 2 layer bottom
peterbhc
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@louistran_016, It is also trading within an ascending triangle printing higher lows. Still a lot of time between potential confirmation of this theoretical chart pattern.
mjelicespanol
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@peterbhc, where do you see it?
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