alanmasters
Long

Bitcoin Bounces Strong - $7,200 Now Easy Target!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin confirms its higher low with a very strong bounce, now going above $6,700 and testing the same trendline which has rejected its growth over and over again.

We are now looking to break and close above this trendline (red dotted) on the daily time frame to confirm our bullish bias. Bitcoin bounced just as expected, with force and contrary to what most people believed it would do... as usual.

BTCUSD is moving with really good momentum and we can expect additional bullish action.

Here are our support and resistance levels:

Support:
(1) $6500
(2) $6350
(3) $6280

Resistance:
(2) $6900-$7000
(3) $7200

Thanks a lot for reading and your continued support.

Please like, share, comment and follow for more updates and trades.

Namaste.
Comment: You can get my previous analysis here (we've been doing good lately...):
Comment: We are fighting with that trendline... And we have the Fib. support, take a look at the chart:
Comment: I didn't realized that last candle was the daily close.

We had a really good day for Bitcoin, we moved up as expected. We are now facing strong resistance but if we can keep up the momentum we have some pretty good days ahead.

Here is the daily chart:

- Volume is lacking. The push up seems a bit forced but here we are... You never know these things can surprise you at any given time.

- We will be looking a short term/small retrace with consolidation to try another push up.

- We will work with $6640 and $6550+ as main support levels short term. The rest is written up there.

Thanks a lot for reading again.

Your support is highly appreciated.

Please visit my profile, other trades and hit like, share, comment and follow.

Namaste.
Comment: We are getting away from the old trendline and now touched $6800 already.

Here are several views:





- Bullish crossover of EMA10 and EMA200.



- So far looking good. Volume building up...
Comment: Bitcoin goes stronger... We have another trendline in play (we need to break $6840 for additional strength - volume is building up more and good):



We got this...

Comment: The trendline was too much and Bitcoin back off, you can see support on chart (trendlines):
Comment: Volatility is increasing, which is a good signal at this point. It means that balance is being lost, a breakout will happen soon...
Comment: Take a quick look at some of our latest altcoins trades... your support is highly appreciated:

RDDBTC:

BATBTC:

LTCBTC:
Comment: The bulls showed strength on the last 4 hours candle. They were able to sustain the drop and regain vale...

I believe that volatility will continue to increase.
Comment: There is strength on this red candle. We are now sitting above EMA50, EMA100 and Fib. support @ $6550.

- Next we have our trendline followed by $6480.
- Volatility is indeed increasing as expected.
- Enjoy the ride...
Comment: The Bitcoin bulls keep on fighting back with strength. Look at the long wick on the last candled that closed on the chart below... Also notice that we went back above the trend but just right below the Fib. resistance.



- So far the bulls have been really good at resisting the bear pressure. We can look for a higher low higher...
Comment: And the daily candle closes. We are getting closer to our breakout spot, price action getting compressed...
Comment: Trading now remains within a narrow range.

Our main support is now sitting at $6470.
Short term we have $6550.

Our resistance is at $6600.
Next resistance is at $6680 followed by $6800.

Bitcoin will be going up soon...

Comment: It is going to go higher...

Great results for our altcoins trades, in just 1-2 days, see the profits:

RDDBTC: Over 100% profits.
PIVXBTC: Over 58% profits.

You can check my profile to find these trades.

Your support is highly appreciated.

Namaste.
Comment: We have a nice flag building up on the daily time frame.
Large wicks going to both sides... We will have a big move within a matter of days...

Comment: We are now back above a major trendline, Bitcoin's price drops each time it breaks this line... Let's see how it goes this time. Here is the chart, take a look:
Comment: This is what I've been looking at. This pattern is also available on the daily time frame... This is a bullish pattern; Ascending triangle:
Comment: You can follow my next Bitcoin update here:

Thanks for the support.
Comment: Bitcoin strong support marked by EMA100 (dark blue line) on the weekly time frame.

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We are going Up :)
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Bingo. I called and NAILED the fall out of the triangle (verbally as stated below)

Only one other person did that on here... and that author is a woman :)

https://www.tradingview.com/chart/D19ImJAy/

Let's now hope Alan and the others are correct about the coming rise.

Reply
alanmasters TradeClass
@TradeClass, That's the 5 minutes chart, signals are very weak there. Try the daily chart for stronger signals.
Reply
I am surprised you didn't see that double-neck peak coming. I warned my followers. It came it fell. Sundays are such low volume, that TA is a pure mess.
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alanmasters TradeClass
@TradeClass, It is going to go higher...
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TradeClass alanmasters
@alanmasters, LOL yeah.. the I am sure of it. But to a day trader, the critical question is when. The highs and lows matter to someone like me.
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TradeClass alanmasters
@alanmasters, here is my Ripple chart if you are curious. Your reporting has been super helpful regardless of whatever comments I am making today.

https://www.tradingview.com/chart/ySnrgVM1/
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TradeClass alanmasters
@alanmasters, here is my symmetrical triangle plot for BTC. Breakout can be up or down. My partial TA forecast.. tempered with current price action and fundamental assessment for Sunday behavior when there is low volume... leans toward a break downward,... to maybe the next support red line that I drew.

Longer term, next 24 hours.. probably a rise back up(Monday morning in the wee hours?)

What is your thoughts on what I drew and my conclusions? Thanks.

https://www.tradingview.com/chart/D19ImJAy/
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Good morning!Time to buy at...?
+1 Reply
the only btc strategy you need to know, the legendary strategy
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