Bitcoin Drop Explained, Don't Get Too Comfortable

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I just shared a chart for Bitcoin , BTCUSD , on the 1H timeframe.

This chart describes this recent drop but in little detail... You can find it here:
Now, don't get too comfortable.

Bitcoin has been doing numbers and not following TA lately.

Also, you can see a wick take place and then prices resume growing... So be careful.

Do not use this information to trade.
Do your own research.

Now I will read the chart for you in detail.

Bitcoin Drop Explained!

Let's read the signals on this chart.

1) We have a shooting star on the new peak. (This is a bearish signal)
BTCUSD hit $18977... Wow! Great job Bitcoin .

2) Bitcoin hasn't been doing much correction/retrace but this is a normal part of market action. Things move up and down, up and down, so this is normal.

We wouldn't be surprised to see Bitcoin retrace, in fact, we welcome a retrace as this would signal HEALTHY growth.

3) The TD Sequential is now showing a negative count.

4) The MACD is showing bearish divergence and also a bearish cross (the MACD line crossing down the Signal line).

5) The MACD histogram is going red.

6) The RSI hit overbought 18-Nov. and is now starting to drop.

Note: Technically, Bitcoin is strongly bullish ... Prices remain above EMA10, EMA21, and EMA50.

Only after Bitcoin breaks and closes below these levels we start to consider the bearish bias.

The above are what I call "early signals".

Do not trade on this chart alone, do your own research.

We don't trade these setups, we consider them to be high-risk and hard.

Instead, we look/focus on the smaller altcoins which are very, very, very easy to trade.

They have lower risk and higher potential rewards... I hope that makes sense.

Any questions?

Leave a comment!

Do you have a chart?

Share it with us!

How are you doing?

Thanks a lot for your support.

Comment: Bitcoin Dominance (BTC.D) Daily: The indicators are also pointing lower.

4H: (4H also bearish)

Weekly (W) still looks good:

When I started to develop my third eye I faced some problems...

You get to see the future, you get excited, and start sharing everything you see that will happen ahead.

The problem is you have no practice and you never think about the date.

For some events, I started predicting, it was all good but I was years ahead.

As time goes on, baby step...
You get used to this new ability and start to understand.

You see everything at once but not everything will happen today.

I upgraded my thoughts and started to improve day by day.

Before, I would tell you about an upcoming bull-market, many thought I missed the train... this happened years ago... Reality hits today.

Few weeks back I would try again and tell you, "Be ready, another wave is on its way..."

I might be off by a day or two but the results are always the same.

With proof in the results, here comes the bullish wave.

We will collect massive profits...
Thank you 3rd eye 👁, you are the best.

But, what about the next one, in 4 months...

Will you trust me and profit?
Or will you be one of those who misses the train?

It is not too late to join this one...

The bullish action starts today.

Trade closed: target reached
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@alanmasters I am really grateful for the knowledge you are sharing. You have helped me evolve my third eye and my sense of intuition on the market. I have been a student of yours since last fall and I am now looking at charts in a new way. You have changed my life and I will forever remember you! Much love and I wish you a long and healthy life
+2 Reply
@ghazza, Thanks a lot for the kind words... Truly appreciated.

Wishing you great health, wealth & success.

Wishing you the best always.

THE 3RD EYE .. see through God s eye. Very powerful. Thanks for sharing namaste
+2 Reply
alanmasters blackriver85
@blackriver85, My pleasure. 😊🙏🏼
I think if bit coin trun downward according to chart , does it will shift signal to upward momentum for alt coins because for a long time no momentum have been seen in all alt coins.
Please tell am I right.
+2 Reply
blackriver85 akhileshdwivedi184
@akhileshdwivedi184, friend,use Bitcoin dominance chart for this ,you can fiind it with BTC.D. when dominance drops alts have their chances
+1 Reply
alanmasters blackriver85
@blackriver85, Shared your BTC.D chart.

Daily and 4H bearish.
Weekly still bullish.
+1 Reply
blackriver85 alanmasters
@alanmasters, thank you
+1 Reply

Thanks to you
+2 Reply

Ok all right sir
+2 Reply
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