AlanSantana

Bitcoin Monthly Closes At $11350, Next Target Updated At...

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin had a very strong close in July at $11350, hitting a new high and the highest price since August 2019... 1 year ago.

This is a huge development and opens the door for additional bullish action.

We've been aiming at the highs $13k/$14k on multiple timeframes if the $10400/$10500 barrier was taken out...
This is true in the monthly timeframe as well.

Our next target for Bitcoin is sitting at $13,764/$14,000.

Same as with the daily and weekly charts:

Daily | Bitcoin Looking Strong to $14K, Waiting For Monthly Closure

Daily | Bitcoin Continues Strong | Bull Aims At $13,500 or Higher

Bitcoin Weekly Updated

The bearish view we saw recently has been completely invalidated and now we look higher as long as price remains trading above EMA10.


Altcoins market

A bullish Bitcoin continues to be a strong bullish development for the entire altcoins market.

As Bitcoin grows the altcoins can retrace or consolidate... As soon as Bitcoin stops, there can be an initial correction followed by strong bullish action.

Money flowing into Bitcoin when Bitcoin retraces flows directly into the altcoins.

As Bitcoin continues to break bullish , we can expect the altcoins market to continue to grow.

When prices drop and hit support for the altcoins, that's the time to rebuy and reload.

When prices move up and a new target/resistance is hit... That's the best time to sell and secure profits.

If you have a plan/strategy it becomes very easy to be successful when you trade cryptocurrency, we only have two options we buy and we sell.

Namaste.

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