Hey guys welcome to fresh new update on Bitcoin XBT, a very warm welcome to all my family... well well well getting lots of messages with only one question, husain when will you post new update?... so here it is....
but before this i want you to look my 9th oct published idea where ive said that Bitcoin has bottomed for short term and now looks prepared for the next rally, i received lots of criticism for that post coz than price fall even more lower, but i do appreciate all of them who point out my mistakes and helped me to work even harder, thanks a lot guys, here's my previous idea... notice the levels i've mentioned...
now moving to the top chart so clearly we finally broke the downtrend channel and first time made a new top outside this channel, that's a pretty bullish signal in itself, for now prices are looking for a pullback and will give us another long opportunity, am expecting a retracement upto 8400-8800 level for a better long opportunity. talking about the rsi so we already get higher lows pattern with prices making lower lows which is class A bullish divergence, along with that we've also broke the upper trend line coming from jun highs of 13800 and made a new high, so its a definitely green signal from oscillators for bulls.
daily chart is completely clear and amazing, first of all the death cross the legendary death cross widely prmoted by lots of traders, but actually its a false death cross coz yeah 50 DMA is falling and crossing 200DMA but 200 DMA is not rejecting the uptrend yet, it only applies when both moving averages move towards the trend, same conditions will apply for golden cross, so definitely those who shorted by looking at this false death cross have 2 minutes sielence for them.
now mpving towards my custom indicator so you see how strongly it has spiked from green zone to the blue one, and its a huge bullish sign in daily chart, look how it has signaled twice in dec 2018 and feb 2019 and rest is history, thats the result of our research and analysis, if you want to enjoy its benefits join premium and have all the pleasure:)
on my post ive published on 9th oct ive mentioned that bitcoin has bottomed for short term and we could see a rally towards lower highs, ive mentioned three zone we need to look carefully and the level which has high resistance was 10350-10500, and look now prices exactloy retraced from that level, yeah we do formed a lower bottom around 7200 and honestly i dont have any idea for that, thats why some of my last predictions were bullish lots of members criticise me for wrong predictions and i did take them seriously and used it in a positive way.
my short term view for the current situation
alright guys, that's all for now hope this idea will help you to make profits, dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
and to join our premium contact me on telegram refine your trading and turn your losses in huge profits...
This is Husain Zabir signing out
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time to go short my custom indicator has just signaled for a shor4t entry by moving in pink zone from the red ones
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thats a really bad news for those who are deliberately waiting for the next alt season as you see Bitcoin dominance has already broke that downtrend channel and its even before XI Jinping's statement so clearly alts will keep continue to bleed more in coming days along with that my custom indicator has also signaled a new rally in BTC dominance so most likely alt season could be late this time, its better for us to focus more on Bitcoin
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the most probable move for now
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As most of the traders focusing on long term i would prefer for a short term opportunity and looks like a second wave will give us a better entry to short, my custom rsi is also indicating for that move
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thats the level of precision am talking about, look how precisely our custom indicator has signaled and how perfectly prices followed the pattern ive predicted, join premium for more, stay hungry:)
not all alts are bleeding LINK Is at all time high against BTC and that cup and handle will break soon to get even higher. Check it out.
Husain_Arkghazi
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@jia888, well yeah link is definitely one to look at
Husain_Arkghazi
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@jia888, but majority of alts are trading in btc pair so we also need to consider their value in terms of btc
Husain_Arkghazi
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@jia888, but thabks mate we really appreciate your response
jia888
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@Husain_Zabir, been trading it since 2000 sat, now at 30,000 sat.. I think when that cup breaks, it will be epic.can you do a chart on that, I run 8 facebook groups with over 200k followers. I can post your trade ideas on link
heyula
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I respect your view. We may test 10400 again but my long term view is still bearish. We may even see a huge red candle.
Husain_Arkghazi
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@heyula, thanks mate, yeah most likely we could retest 10400 level
Husain_Arkghazi
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@heyula, although am also bearish in long term but be flexible with your views
Husain_Arkghazi
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@heyula, thanks for replying keep supporting us :)
BorisPoff
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Although drawing trend channel lines is not an exact science, I see that you based it on two tops at the beginning of the channel. It appears that the recent spike goes well above the channel confirming a bullish signal. However, if you draw the channel a bit more consistently across the entire period of interest, then the break out is not very prominent, something like that.
We can very easily return closer to the middle of the channel or even the bottom. Death cross was always respected by Bitcoin. If the price ignores the death cross then it will be extremely bullish but the chances of that are very very low. Thank you.