alanmasters
Long

Bitcoin Monthly Bullish Falling Wedge (+Other Signals)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I am taking a quick look at Bitcoin’ on the monthly chart, let's take a read at some simple signals and one interesting fact... Hit LIKE to start reading and make sure to share your thoughts in the comments section below...

Let's get started.


Bitcoin’ Monthly Chart Bullish Signals

  • We have the 'Falling Wedge' pattern which is bullish . Know that even though this is a bullish pattern it can break either way. A break of resistance is needed before this pattern comes into play.

  • Bitcoin’ had 4 negative monthly candles in a row. This is the first time the BitFinex chart sees 4 negative monthly candles. Will Bitcoin’ go negative 5 consecutive months? Very unlikely... But we remain open to see it go UP! :D

  • EMA50 holding as support. EMA50 is always a very strong support for Bitcoin’ as well as resistance. Price bounced from EMA50 and closed above it on the monthly candle. This price is very likely to hold and we expect a positive / green candle this month.

  • Hidden bullish divergence on the STOCH indicator.

  • First time STOCH hits oversold since 2015.

  • RSI has hit its lowest level (Oversold).

Note: This is no trade advice. If you would like to see trades from me feel free to visit my profile.

If you do decide to trade on this information, make sure to use a stop loss. A close below $3657.6 on the monthly candle would invalidate this analysis. This can be your stop.

Thanks a lot for time and reading... Your support is truly appreciated... Make sure to hit LIKE before you leave.

Alan Masters here...

May your coming week be everything that you want, need or expect it to be and that you are filled with life, love and health...

Remember that you are a Unique and Special being and you will always DESERVE THE BEST!

Namaste.
Comment: SHORTS continue to go up at record speed. The heard is on the SHORTS side... Which side will you choose?

Here is the chart:

- I marked the SHORTS ATH.
- You can see the red trendline which is very likely as far up as the SHORTS will go.
- There is also a very steep rising wedge which is bearish.

Thanks for reading.
Comment: - SHORTS can also go for a double top before crashing down.

Comment: Our RESULTS for some of our ALTCOINS trades today.

+12% CLOAKBTC


+13% STRATBTC


+19% ASTBTC


+26% XSTBTC - PREMIUM

+100% PMABTC
Comment: LUNBTC (+20% for PREMIUM within 48 hours):



AIONBTC:
Comment: Bitcoin (XBT) Price action update (4-Dec) now live:

Comment: SHORTS are now dropping fast after reaching all time high.

Very steep trendline...
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Related Ideas

that is NOT a falling wedge
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In the nearest future.
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BTCUSD H4 Update. Checkout the idea detail's and update's for the complete picture!
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@alanmasters rid of the cryptocurrency market, as you will never grow this market because you hate everyone from this market. you made market weaker and weaker
Brokers should abandon this market
The dishonest people should abandon this market; this market must be regulated
One of the reasons why the ETF is not approved is like this one
+1 Reply
13% STRAT, 12% CLOAK +26% XST profits? got screenshots of trading those? of course you don't

according to your logic here's MY call that I gave out in 2015 bitcoin guyz 150$ BUY and 19000$ SELL 10000% PROFIT!
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You are one of the crooks of this market
I'm sorry for you
Your point of sale is the point of buying others
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btc?? our money is fiat not btc
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Hello Dear Friend, What about my TA
+3 Reply
Bullish? What a herd manipulator. I used to read him analysis, but listen to me and run away from this person, you'll only get liquidated.
+1 Reply
Thanks for your work. I could not agree more. I do have some other thoughts as well that may differ from yours. Appreciate your insight.

Good morning Traders! Here's my morning BTC analysis for Dec 4th. In this I discuss small time frames showing slight strength | Bigger time frames looking bearish | Next OB breakdown range:
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