alanmasters

Bitcoin Bounce Taking Form | Moving To $8,500 Next?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin ( BTCUSD ) short-term drop, as seen in my previous analysis, is coming to an end.

We can look into any pair short, mid and long-term.
We are looking into Bitcoin ( BTCUSD / XBTUSD ) daily, in order to determine its next move.

Our main target now is $8500.
We went from SHORT to LONG...

Conditions for change
Remember that this situation/chart can easily change. Bitcoin is now trading above EMA10 on this timeframe (4h), but moving and closing below this level can invalidate the above analysis.

If the last low at $7700 is taken out, Bitcoin is likely to move lower rather than higher. But if the bulls continue to come in/follow up, BTCUSD is likely to bounce as it is happening right now.

If $8,500 is broken, BTCUSD can easily go higher... $9,000+.

Where do you think Bitcoin is headed?
Share your thoughts and charts in the comments section below...

Namaste.
Comment: Leverage: 10X

Buy-in: $7900 - $8030

Targets:

(1) $8100
(2) $8200
(3) $8340
(4) $8490

Stop-loss: Close daily candle (D) below $7,600.

Liq. price: $7307
(Buy-in calculated at $8000)

Potential profits: 61.2%

Capital allocation: 8%.
Comment: Ethereum Shy Move To $185 or All The Way To $220?
Comment: Targets:

(1) $8100 |Hit 7-Oct. (+12.5%)
(2) $8200 |Hit 7-Oct. (+25%)
(3) $8340
(4) $8490
(5) Hold
Comment: Results

TNTBTC (+151%)

OSTBTC (+75%)

AMBBTC (+114%)


Chart Analysis

Ripple vs Bitcoin (XRPBTC)


Ripple vs Dollar (XRPUSD)

Nebulas (NASBTC)
Comment: Targets:

(1) $8100 |Hit 7-Oct. (+12.5%)
(2) $8200 |Hit 7-Oct. (+25%)
(*) $8300 |Hit 7-Oct. (+37%)
(3) $8340
(4) $8490
Comment: Bullish engulfing candlestick pattern on the daily (daily close above $8180 needed for confirmation):
There is also a higher low compared to the low hit on the 30-Sept. As well as above-average volume.

This is a good and strong bounce so far... Depending on how it develops, Bitcoin can go much higher than $8500... I will keep you updated.

Thanks a lot for the support.

Namaste.
Comment: THE LOTUS FLOWER

I never felt like I had any disadvantages, or that I was given a bad hand.

I never thought of myself as more or less than others, but we definitely didn't grow up with the same quality of tools.

I knew others had and have many advantages, but I kept going...

I did not go to the University...
I didn't read the books.
There's no father just a mother...
And life went on with a future unknown...

But I keep going...

Not the best manners, nor typing skills.
Not even a mediocre speaker, shy to speak in public...

But I keep on growing.

Yes! I come from dirt...

But I promise to bloom into a beautiful Lotus Flower.

Namaste.
Comment: Targets:

(1) $8100 |Hit 7-Oct. (+12.5%)
(2) $8200 |Hit 7-Oct. (+25%)
(3) $8340 |Hit 7-Oct. (+42%)
(4) $8490 |Next target.
Comment: IOTXBTC (+104%)

RDNBTC (+44%)

REQBTC (+53%)
Comment: MANABTC Hit our target perfectly...

Take a look at it here:
Comment: New Bitcoin (BTCUSD) update, $11,111 Next?

Trade closed: target reached: Targets:

(1) $8100 |Hit 7-Oct. (+12.5%)
(2) $8200 |Hit 7-Oct. (+25%)
(3) $8340 |Hit 7-Oct. (+42%)
(4) $8490 |Hit 9-Oct. (+61%)
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Comments

If this holds, we have a double bottom, could get interesting...
+2 Reply
alanmasters ECGTrader
@ECGTrader, Yes... It can easily bounce here.
+2 Reply
alanmasters ECGTrader
We are seeing the volume increase as well as a break above EMA10... Let's hope it does a strong bounce.
+2 Reply
ECGTrader alanmasters
@alanmasters, fingers crossed
+1 Reply
alanmasters ECGTrader
Reply
alanmasters ECGTrader
Moving up nicely, we hit three targets already.
Reply
alanmasters ECGTrader
Just one more to go...
Reply
Anuradha, blossoming flower out of a puddle of murky waters.
+1 Reply
alanmasters magemushroom
@magemushroom, Thanks for the support.
Reply
Great prediction, but what about long-term?
+1 Reply
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