alanmasters

Are You Scared? We Are Talking Bitcoin, Relax!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We have countless days of bullish action and we all jump and rejoice... We continue with a bullish market and we all enjoy the profits, the growth, and the fun.

We get one red day and we call it the end of the of it all... Remember, patience, Bitcoin is moving back up.


Bitcoin Recovers?

Looking at the 4H timeframe so far we have a "V-shaped" drop and also a strong bounce, these signals can tell us of a potential recovery.

Prices moved below EMA300, the grey line on the chart, just to quickly move back up.

This can be seen as a strong shakeout, a long-squeeze, a correction, etc... The important part is to see prices resume growth.

The signals are good so far.

If we look at the daily timeframe , Bitcoin remains trading above EMA50 which is good.

If this level breaks, then bullish bias can change.

For now, Bitcoin continues to look great.

Namaste.
Comment: Patience is key.

Bitcoin is very likely to follow Ethereum (ETHUSD).

Ethereum just hit a new All-Time High, see below:

🟦 Ethereum (ETH) Weekly | $3440 & $4000+ If $2500 Breaks...

🟦 Ethereum (ETH) Moves Ahead, Back Above EMA10 +Altcoins Update
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Comments

Wrong. Dead cat bounce, still dropping some more to 52K then 48K, then bounce back up around end of month.
+14 Reply
alanmasters Hector_MX_IN
@Hector_MX_IN, Sounds good. We will see how it goes.

Thank you for sharing.
+3 Reply
OraCloudPlusInc Hector_MX_IN
@Hector_MX_IN, down on big volume...up on VERY little volume (BTC). There is someone showing 100+ on the bid, but pulling back not filling. Tape is all micro orders...seek and destroy. Fib retracement hasn't gotten above .68...struggles to get back to .50...but this is not very tangible. Staying short...just because if you are selling at 60...you aren't a buyer until at least 45K...but that is guess work. 8pm close looking to be flat to slithgly down. this is WAY TOO CALM.
Reply
OraCloudPlusInc Hector_MX_IN
@Hector_MX_IN,

RSI getting to bottom of range...MAYBE one more down then i expect a run
Reply
alanmasters Hector_MX_IN
@Hector_MX_IN, Just watch, Bitcoin going to new ATH soon.
Reply
Hector_MX_IN alanmasters
@alanmasters, I hope so my friend, if we loose 48K things will get heated
Reply
Hector_MX_IN alanmasters
@alanmasters, whats up whats up :) , I like your charts man you were just wrong this time, still love your work
Reply
Ace_Dee Hector_MX_IN
@Hector_MX_IN, you were on the money on that one! nice one mate
+1 Reply
@Ace_Dee, there is a trend last few months where first half it pumps, second half it dumps, plus I saw stronger support on the 48K range, sometimes is good to zoom out on the bigger picture and don't let the bias blind your logic and objectivity , which is hard to do as I am also bull on BTC
Reply
dont agree
+14 Reply
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