Bitcoin (XBT) Price Action (4-Dec) @alanmasters

BITMEX:XBT   Bitcoin / US Dollar Index
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Bitcoin’ (XBT) continues consolidating sideways. We can see higher lows being created on the 4H TF. Let's look at price action.

  • Our immediate resistance is sitting at $4000 and $4070. A break above this level take us to test $4350 which is the resistance that needs to be broken in order for Bitcoin’ (XBT) to move up.

  • We are looking at EMA10 ($3940) as are immediate support, followed by $3900.

  • If Bitcoin’ fails to move above EMA50 ($4070), then it will test our support again at $3800 and continue this dance (up and down) until one side gives way...

  • The RSI has now gone past 50 but still has some resistance to break.

  • I will keep this thread updated as the charts develop.

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See you again tomorrow and after tomorrow and every single day...

Alan Masters here...


Comment: Latest Bitcoin (XBT) Price Action update:
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<3 thanks Alan
+2 Reply
next target is 3200 !
We will be surprised tonight!
Patience is the key of success!
Thanks alan for analyses and positive vibes from you.
NAMaSte :)
+1 Reply, Thanks. Your support is appreciated.

+2 Reply
I think there’s a clear downtrend in Alan’s audience satisfaction.
+3 Reply
@leoa451, Patience is key... remember.
+2 Reply
Where is dislike button below your ideas?)
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