Bitcoin Starts Its Move Up (Altcoins Update)

We have Bitcoin’ accumulating after completing its retrace. In our last short term Bitcoin’ analysis, we spotted support/bottom early as usual, we showed all the classic signals and saw Bitcoin moving back up.

EMA50 (Magenta line) and EMA10 (green line) have been both working as resistance and support. Notice how clearly this can be seen in the chart above.

EMA100 (blue line) was the strongest resistance is now is being broken. $6500 is next (EMA200 - orange line), but we can see it going and moving slowly... This is good. The longer it takes for Bitcoin’ to break its sideways action and move either down or up, the higher the probabilities of $6,000 being the bottom and asset to start moving up.

In the meantime, altcoins continue growing more and more. And they will continue to grow as Bitcoin’ continues slow.

Thanks a lot for the support.

Namaste.

Comment:

All signals broken, Bitcoin moves down.

We wait for the weekly close for an updated view of the market.

As strong resistance levels have been broken, a new analysis is needed.