Bitcoin continues to grow, new money is entering the market. Even though the alts are going lower looking for support, this is really good for all of us.
Once Bitcoin stops or retraces, we will have massive bullish action hitting the altcoins market. We will see money flow from Bitcoin to all of the alts which translate into massive profits.
Welcome to Bitcoin 2019! Let's get started!
Bitcoin (BTCUSD) Short Analysis
Trading easily above EMA10, Bitcoin (BTCUSD) can continue going higher, here is the daily chart:
All the bearish signals have been obliterated.
The price spread between BitFinex and other major exchanges such as CoinBase, BitMEX, and BitStamp has been removed. Past history showed us that this normally results in a crash, but instead, Bitcoin grew, moving always contrary to what most people believe.
The bearish divergence is gone.
Trading volume keeps on coming in on a daily basis.
We have a massively bullish RSI.
We have a bullish cross of EMA50 and EMA300, something not seen since Oct. 2015.
The future is bright for the cryptocurrency market, we will enjoy profits an all altcoins on the way up.
Patience is key.
Namaste.
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All targets and support levels are marked on the chart.
We are looking at $8500 followed by $9900 as resistance. With $7450 - $7200, $6850 and EMA10 as immediate and main support.
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Our great reader @HermiT0402 shared the following chart... Looks great:
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S&P 500 Index (SPX500USD) Market Update After All-Time High:
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This is how Bitcoin weekly looks on Binance:
How far up can it go? It is anybodys guess, but the chart is extremely bullish after a double bottom...
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Bitcoin weekly update:
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BitTorrent (BTTBTC) Updated Trade and Chart Analysis
Thank You for the analysis!
To me, there is the first stronger area/resistance. If it gets a candle close (Daily) above of it then the 10k is almost certain but yes, it needs to get a close above the current resistance:
First stronger resistance, curve trendline, some Fibo levels and etc. are on the road to the 10k :)
Regards!
I think market has to break the long term trend line upwards to start a real bull run/ up trend...Most of retail investors start to invest now and this is perfect time to dump the market again :)
cryptophatprofit
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@DK_Investment_Consulting, Well said ! Volumes are NOT as high to indicate this is a true breakout for Bulls.