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.
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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.
It goes down - you say we reached bottom and it is the best time to buy. It goes down more - you say we reached support and it is the best time to buy. It goes down again - you say we just tested support and it can only go up. As a perma bull it is not difficult to be right when you are in the bull market. And it's not difficult to be right in the bear market sometime after 100 tries, if you say every time it will go up.
By the way, how do you make money? You say you should trade (buy) altcoins instead of Bitcoin for '' massive profits ''. I do not know if you've noticed, but once Bitcoin drops, the alts will drop much more. Since all time high you say it is the best time to buy and the price has gone down and down. Please post a chart as soon as you are bearish so I know when to buy. Thanks.
leoa451
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@Counter, how one of not overly popular presidents say: “Sad”.
Saphiretr
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There must be a dislike button for those TAs.
ReallyMe
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Wishful thinking is usually painfully punished
kardia
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And instead of making its way up, it fell hard. Please stop misleading people with wishful thinking. You are trading on feelings. Trading on feelings usually leads to loss.
ethhunter
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@rev214us, loss leads to anger, anger leads to fear and fear leads to war. Thus bitcoin is a war machine.
@rev214us, can't really tame bitcoin... Its quite difficult to inflate it or manipulate it as market cap grows and it reaching some kind of maturity. Fiat bubble pops, BTC will run harder than gold.
MrDiamondHands
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Almost a 100% failure rate on all of your crypto charts in October and November so far. You have recommended tokens after they were pumped, only to be sold into.
I told you this would happen, I explicitly explained to you that the altcoin and bitcoin markets are still bearish. Your response? "Bull market confirmed."
Thanks for the free money, it was a pleasure doing business.
By the way, how do you make money? You say you should trade (buy) altcoins instead of Bitcoin for '' massive profits ''. I do not know if you've noticed, but once Bitcoin drops, the alts will drop much more. Since all time high you say it is the best time to buy and the price has gone down and down. Please post a chart as soon as you are bearish so I know when to buy. Thanks.