alanmasters

Bitcoin | Short-Term Retrace

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Looking at the 1H timeframe for BTCUSD , we can notice bearish divergence building up with the indicators as well as a move below EMA10.

This opens the door for a short-term retrace.

It seems now that Bitcoin knows only how to move up... But nothing goes up in a straight line.

The next target is marked on the chart.

Namaste.
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Comments

Nice one! Hit it almost perfectly.
+1 Reply
alanmasters M3793S41006
@M3793S41006, Yes. Thanks!
Reply
20k, then 30k - 40k. forget shorting
+1 Reply
So interesting! If you press play on this idea you can see that it followed your prediction so precisely. If I read the chart correctly it should drop to at least $18,000 before it is ready to make another run.

I have been looking at BTC/USD too and see a possible support through the parabolic ascend. This would also lead to a similar retracement first, before it would bounce upwards again:
Reply
Thanks it's very helpful! 👍🏻🦐🔝
Reply
The next target is the blue dashed line around 17,835 correct?
Reply
alanmasters destin2008
@destin2008, I mean, potentially.

This is based on TA and Bitcoin lately has been ignoring TA, so take it with a grain of salt.
+1 Reply
great
my analysis

Reply
alanmasters T_V_TreeTrader
@T_V_TreeTrader, Thanks for sharing.
Reply
If it goes down to 18.2 then that means XRP will come back down to 34 cents or so.
Reply
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