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AlanSantana
May 14, 2021 2:00 PM

Bitcoin Starts To Recover |Moves Above EMA10 4H (Where To Next?) Long

BITSTAMP:BTCUSD240
Bitcoin / U.S. dollarBitstamp

Description

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We have a positive signal now with Bitcoin (BTCUSD) moving above EMA10 on the 4H timeframe.

EMA10 sits at $50763 (candle closure is needed for this bullish signal to be confirmed).
The 4H candle closes in 2 hours.

With prices moving back above EMA10, this signals that the bulls are jumping back into the game.

Our initial and main support at $55,000 will now work as resistance.
This is the next target if the bulls continue to push prices higher.

Conditions for change
We go strongly bearish on a candle close below $47,000.

Was this just another shakeout?
A healthy correction?
TSLA guy had diarrhea?

It doesn't really matter as long as the market continues to grow.

Namaste.

Comment

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47K support breaks down.
We are now strongly bearish.
Trend AnalysisTechnical IndicatorsBeyond Technical Analysis
Comments
TheKitchenTrader
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Anyone check the SNL roster for Saturday yet? Trade accordingly. 😎
BazsiBazsi
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@TheKitchenTrader, Enlighten us please what is this SNL stuff?
TheKitchenTrader
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@BazsiBazsi, It was humor... meaning who was going to be on Saturday Night Live. (i.e. Elon was last weekend with his crypto comments)
Agora_Anarchy_Action
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"TSLA guy had diarrhea?" 😂😂😂
AlanSantana
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@Agora_Anarchy_Action, 😂😂
UnknownUnicorn17255216
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I posted this already but looking at on chain data it appears MVRV, MVRV-Z, AND NUPL are at lowest levels for 2021. Transaction data suggests this recent action generated by short and medium HODL, not long term. I would guess if the recent supports around 47k with the obvious quick buy volumes hold, then we should enjoy a resumption of the bull cycle. Thanks as always for your work!
AlanSantana
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@TPB-HODL, Thanks a lot for sharing. Good to know.
BTCINVESTING
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thx bro. i agree. one more down is likely. and as allways: lets buy the dip. ;-) here my current view...

Polyphonica
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Confusing.....has Alan Masters rebranded.......has a strange disturbance in the markets fused Alan Masters with a rock legend......which oscillator should I be using to measure Alan Masters to Alan Santana?
AlanSantana
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@Polyphonica, Numerology.
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