alanmasters

Bitcoin Bounce Confirmed? 9K Possible, How & Why?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin's ( BTCUSD ) bounce is starting to take form.

We can see a new higher high on the 4H timeframe, as well as a break above EMA10. This candlestick that is open now closes in a few minutes for confirmation.

Trading volume is low which is normal on a weekend/Saturday, but we can clearly see an ascending triangle (not drawn) and a broken bearish flag . These two are both bullish signals.

If BTCUSD remains above EMA10 ($8155) on this timeframe, you can expect for it to move higher...

Our last analysis mentions a potential bounce to 9k but... You can see it here:

Thanks a lot for the support.

Namaste.
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@alanmasters hate when btc is moving like a drunk man. It gives me headache. And btc can always turn around on a plate at last moment. Question is - Is it even worth even trying to predict the short term when btc is so unpredicable? If i'm wrong please enlighten me. I'm trying to learn and I got much to learn. This is just what I feel right now. In a month I will be wiser and may have changed view.
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Confucius_The_Great Confucius_The_Great
@Confucius_The_Great, I hate* - Thanks tradingview for no edit button as always @tradingview
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Hmmm..I think it is 2d or 3d time I look at this graph/trade idea...Now I spotted you are using the 4 hour chart Master...interessting...I guess it is a good timeframe to look at when we want to get signs of where BTC is going short term. Like daylie time frame vs weekly. Just 4 hourly in this case vs daylie.
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Bounce Confirmed! Great Job!
I think that if we break $8600 we will definitely test 9K
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Good! Here is a good pattern!
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Is this chart still active ??
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Hi Alan, thanks for the charts and continued insights!

I ws wondering if you can you tell me how you put that volume by price up on the right hand side? (blue / yellow bars)
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good stuff as always .
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