In my last Bitcoin (BTCUSD) analysis I mentioned the EMA100 (blue) resistance rejecting Bitcoin's continued growth and the fact that Bitcoin needed to retrace before trying again to break it, but something changed.
All throughout last year until recently, all sort of bear action would come up with massive strength and momentum, but this is no longer the case.
It took Bitcoin 5 months to break above EMA50 and turn this resistance into support. Now, each time we had a retrace, we would see each support level being taken out very easily, but now bitcoin is showing great strength.
The first support after the 23-Feb. peak was reached was marked by EMA10 (green). Bitcoin dropped below it just to quickly bounce back up and it then took the bear bots 19 long days to painfully break this resistance, EMA50 still remains intact.
This is the type of strength that we haven't seen in years.
Bear volume is really low, looking at the chart above, meaning that nobody wants to sell their Bitcoins.
The altcoins market is booming. We have altcoins such as Everex (EVXBTC) generating up to 300% profits in a matter of days and many more are setting themselves up for similar gains.
You can see it here:
On top of the few strength signals mentioned above, Bitcoin had the longest streak of bullish action on the weekly time frame since 2017, and even though we are retracing now I've reached the conclusion that Bitcoin Bots Switched from Bearish to Bullish.
Bitcoin can still drop lower but not as much as we thought before. We still trade with caution, remain open to all scenarios, and profit even more trading as many altcoins as we want.
What's your take on Bitcoin and where is it headed next?
Hit like and leave a comment, I believe that 2019 will be an awesome year for us to trade.
I AM NOW SUPER BULLISH FOR BITCOIN 2019 AND BEYOND.
Thanks a lot for reading.
Namaste.
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Everex (EVXBTC) +438%
openANX (OAXBTC) +224%
AdEx (ADXBTC) +94%
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Ren (RENBTC) +102%
Enigma (ENGBTC) +52%
Lunyr (LUNBTC) +47%
Streamr DATAcoin (DATABTC) +44%
QLC Chain (QLCBTC) +52%
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Basic Attention Token (BATBTC) +55%
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SingularDTV (SNGLSBTC) +113%
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Monetha (MTHBTC) +50%
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SOMETIMES YOU HAVE TO FIGHT TO GET IT
When we are in the spiritual path and move with the flow, everything hard is left behind, we learn to be good at moving on.
But it is important to understand when it is right to persist, to fight to get what you want.
Somethings are necessary, the hardships represent the challenges and are there to test if this is something that you truly want.
Keep on going, keep trying, until your heart’s content.
In the end, the results will tell you, if you are being hard headed or if all the hardship was a test.
Namaste.
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+147% ROE for EOSM19 (3 days only). Enjoy the profits and remember to hit like for more trades like this one:
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Tron (TRXM19) for 100% ROE (time sensitive):
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Bitcoin going bullish now. Remember that EMA100 (on the daily time frame) is the resistance to break.
If this one breaks with good momentum and volume, and a close above, then additional bullish action can be expected ($4700).
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If EMA100 doesn't break Bitcoin will continue with its retrace.
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I will share a new update for Bitcoin pretty soon.
In the meantime, we have trades for VIBBTC and BQXBTC already public and these are generating great profits.
VIBBTC
WTCBTC
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Here is ETHOS (BQXBTC), I know many people like this one:
You make a lot of valid points and your analysis is always great, however I think too much attention is being given to all the altcoins. Yes, since Feb there has been a season for them but my view it that its just pure pump&dump, speculation and market manipulation. By Dec, Jan mkt caps fell so low on some coins that to be in the TOP 100 you only needed a mkt cap of 10mln. Manipulating assets worth so little is incredibly easy. Hence you see rises of 300% on some of these. Twitter is full of 'ideas' and 'trade set ups' for shitcoins on Monday, by Friday these coins are 40% up and Sunday brings 25% falls. BTC meanwhile is struggling to rise more than 25% to 30% from it's lows.
When looking at the 2017 bull market it was BTC leading the way. Many altcoins were lagging behind only to play catch up later. Best example is XRP. Up until early December 2017 it was still around $0.22 (having risen to as high as $0.44 in May or June of that year). BTC peaked in mid December but XRP only 3 weeks later.
I think that at this stage any sustained bull market needs to have a strong macro base. The only coin out there with any meaningful prospect of that happening is BTC (BAKKT, ETFs etc). So it makes sense for this asset to start appreciating first, followed by others.
Also don't forget that the regulatory issues have not gone away. Although everyone has stopped mentioning this, we still do not know for sure whether we are trading securities or what. If we are trading securities then only coins which can be mined will survive, which means that around 95% of the altcoin market will be wiped out, literally overnight. The SEC has to make a ruling on this, there is no way around it. Having worked in the financial markets I actually think the SEC will make life easy for themselves and say that mineable coins are commodities while non-mineable coins are securities (which actually makes perfect sense). If so we will either see a complete collapse of the entire crypto market OR all the money will flow out of non-mineable coins into mineable coins. Prices of most altcoins will go to 0 while price of BTC, LTC, ETH, TRX, ADA etc will go parabolic and maybe, just maybe the scenario of BTC > 100K+ will play out.
AlanSantana
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@omgvoy, This is just the beginning. This is a "small" rise for what is to come later this year and next year.
These are the numbers for the new market.
This is all normal in the crypto-space.
You will see big ups and big down, wave up and wave down... That's how the market works, in cycles.
AlanSantana
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@omgvoy, Remember that this is a money making game, so if you are making money, you are winning.
bigshot127
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Stochastic RSI crossed over on weekly chart. Last time this happened we were at 20k. I think we will be dropping to test around 3400 area.
When looking at the 2017 bull market it was BTC leading the way. Many altcoins were lagging behind only to play catch up later. Best example is XRP. Up until early December 2017 it was still around $0.22 (having risen to as high as $0.44 in May or June of that year). BTC peaked in mid December but XRP only 3 weeks later.
I think that at this stage any sustained bull market needs to have a strong macro base. The only coin out there with any meaningful prospect of that happening is BTC (BAKKT, ETFs etc). So it makes sense for this asset to start appreciating first, followed by others.
Also don't forget that the regulatory issues have not gone away. Although everyone has stopped mentioning this, we still do not know for sure whether we are trading securities or what. If we are trading securities then only coins which can be mined will survive, which means that around 95% of the altcoin market will be wiped out, literally overnight. The SEC has to make a ruling on this, there is no way around it. Having worked in the financial markets I actually think the SEC will make life easy for themselves and say that mineable coins are commodities while non-mineable coins are securities (which actually makes perfect sense). If so we will either see a complete collapse of the entire crypto market OR all the money will flow out of non-mineable coins into mineable coins. Prices of most altcoins will go to 0 while price of BTC, LTC, ETH, TRX, ADA etc will go parabolic and maybe, just maybe the scenario of BTC > 100K+ will play out.