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AlanSantana
Dec 20, 2018 1:06 AM

Bitcoin (BTCUSD) Price Action (19-Dec) @alanmasters Long

BITFINEX:BTCUSD1D
Bitcoin / DollarBitfinex

Description

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Bitcoin (BTCUSD) is finally moving just like we like it... GREEN.

Today's price action update is going to be really straight forward and simple.

I am looking at a short term retrace to EMA10, to then continue climbing up. EMA10 is the GREEN line on the chart.

"Continue climbing up" would mean hitting our next target, which is around the 'red' on the chart.

If EMA10 doesn't hold as support and is broken, then I will post an update with an updated view of the situation.

For now we wait patiently to rebuy at support and go LONG there.

We can also SHORT the retrace, but this is more advanced, so I don't recommend it for beginners since mistakes can be made.

You can feel secure in holding your Bitcoin's for long. We already had plenty of bear action, now it time to move on.

Namaste.

You can see my/our (me and you) previous analysis here:

Comment

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For the retrace, you can see this chart here Bitcoin (XBT):

Comment

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P.S. This is NOT trade advice. You can find trades in my profile.

Use this information together with other analysis and your own research to better determine your next best course of action.

Again, trades are clearly detailed in my profile with buy in, targets, stop loss, capital allocation and more.

Thanks a lot for your continued support.

It is truly appreciated.

Make sure to hit LIKE!

Namaste.

Comment

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Remember, above EMA10 is strength / holding, below is weakness.

So we want the candles closing above:





This is a strong one, 4H, you can spot the resistance (red dotted line and orange EMA200) and support (EMA10):

Trade active

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Moving positive!

Trade active

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Here is the actual chart, you can see we are reaching our strong resistance zone and EMA300 (gray):


Comment

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Learning articles for beginners. Hit LIKE if you LIKE them... :D

Bitcoin Cash (BCHZ18) Bullish Engulfing (Learning)


Litecoin (LTCZ18) Bullish Hammer (Learning)

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Bitcoin (BTCUSD) Price Action (20-Dec) - $4500 Next?

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Our main support is holding at $4030.
Trend AnalysisTechnical IndicatorsBeyond Technical AnalysisBitcoin (Cryptocurrency)xbtBTCBTCUSDBTCUSDTalanmastersbinancebitfinexbittrex
Comments
relaw
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Wow! Thank you very much! You are best you now it! Now you need some relax :)
AlanSantana
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@relawiszcze, Thanks my friend. I always appreciate your enthusiasm and support.

Namaste.
relaw
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@alanmasters, Glad to be on board!
AlanSantana
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@relawiszcze, :)
kardia
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Something to consider here that I think a lot of people are overlooking: U.S. traders must hold their assets for at least a year to get a significant tax reduction on capital gains. Large financial institutions and investors with millions of dollars at their disposal are going to want to pay as little as possible when it comes to capital gains tax (a lot of these people are interested in Bitcoin). So it makes sense for them to want to put their money into assets which they plan to hold for at least a year or longer to save on taxes. Having said that, is it a coincidence we are soon approaching the end of the year and price is starting to go up on BTC? 2018 was the time of the bear, but we have reached lows which make it reasonable to believe 2019 will be the time of the bull. I believe we have reached the bottom and a not so obvious trend reversal has taken place. But I am having doubts the bull run will be anything like it was last year. Time will tell.
AlanSantana
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@rev214us, You think it will be slower or faster, smaller or bigger?

kardia
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@alanmasters, What I think isn't going to make a difference. It will be whatever it will be. My hope is that the bull run will be better than it has ever been, and that it will last longer.
AlanSantana
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@rev214us, Amen to that!
mjtrustme
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very well master Alan
AlanSantana
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@mjtrustme, Thanks a lot!
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