Let's get started.
Bitcoin’ Monthly Chart Signals
- We have the 'Falling Wedge' pattern which is . Know that even though this is a 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 on the indicator.
- First time hits oversold since 2015.
- 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!
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.
+26% XSTBTC - PREMIUM
Very steep trendline...
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
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: