Let's take a quick look at some of those for our own learning and entertainment.
- Today we have really good and it is pretty early in the day. Which points to additional action. Good green is good for bulls. Good red is good for bears. You can see the bars on the lower end of the main chart.
- We took down all of our targets from our last update, the last one being ~$7500, which we hit and retraced. Next target is $7550, $7850 and $8000. We need to break above EMA200 and SMA200 (brown and yellow lines on the chart) and close above it to signal additional strength.
- We continue trading in an small uptrend within an .
- We have strong support marked by the purple line which is EMA500.
- The is now on the side and is over 60 now, also .
- The weekly chart also looks good. Weekly candle closes today. We need a close above $7300 for good strength but we still continue if we close below it. Plenty of room available for growth showng by the indicators on the weekly chart.
Monthly chart: We closed the month with a . You can see my chart about it here:
In all, Bitcoin continues doing great. There are many signals developing, I will keep you updated if Bitcoin decides to change trend.
For now, BITCOIN IS A BULL!
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- Going up but needs more strength...
- Don't like the big red volume bar there, some early bearish signals developing... Bearish divergence on both MACD and RSI.
Here is the chart:
We are looking pretty solid on the daily time frame. We can expect some type of retrace coming...
Binance coins are also moving up strong when they do move up, take a look at Holo (HOTBTC):
Please share your thoughts in the comments section...
Bitcoin long term (weekly time frame):
BTCKRW (Huge increase) -
BTCUSD (Same volume on Coinbase):
BTCUSD (Less volume Bitfinex):
Looks like Korea is really gaining interest in Bitcoin lately... And USA is having its doubts!
What's your take on Korean volumen?
Check the comments section below...
Thanks @jacobcanfield for sharing.
Soon we will have a deciding moment... Will we be able to break it or go down for a retrace?
1) If we break it, we move up and continue to our next support.
2) If we get rejected, we go back and test our main support. Since we are likely to retrace before breaking this line, the goal is to create a higher low. From there Bitcoin can gain enough strength, to come back and challenge this trendline once more...
Your opinion is always welcome in the comments section below...
Price found support around EMA50:
- Will be good to see how the altcoins will react to this Bitcoin drop. Will they go down for new lows or create a higher low? I am going for the higher low, what about you?
I have to admit I am surprised but pleased in a way. The harder it goes down, the faster it comes back up... Namaste.
Answer on this question;)