Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Bitcoin (XBT) Has been trading above EMA200 for the longest time since September 2018.
Each time Bitcoin broke above this resistance level, which is marked with an orange line on the chart above, it was quickly rejected and price felt back down. This time around, EMA200 has been holding nicely as support rather than resistance.
XBT Needs to break $3659 before it can go higher and reach our first target at $3800.
As immediate, support we have EMA10, EMA50 and EMA200. These are the moving average lines, green, magenta and orange, that we can see on the chart above, with the strongest support sitting at MA200 (black line). On a move down, this would be our main support ($3524) short term.
Overview: We have Bitcoin (XBT) going sideways trading within the following range: $3533 and $3659, this is marked with dark green dotted lines on the chart.
We can see both bearish and bullish potential right now, but we lean more towards bullish based on the last bullish wave and how well Bitcoin's price has been holding.
For Bitcoin (BTCUSD) long term analysis go here:
For short term here:
We have an active trade for XBT which can be seen here:
Where you think Bitcoin is headed next?
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Comment
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On the daily time frame, Bitcoin (XBT) continues trading within EMA10 (green line) and EMA50 (magenta line).
- RSI remains bullish. - Still sideways. - Bearish/Bullish are closer than ever now with short term bullish tendency based on last bullish ave.
Here is the chart:
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New BitTorrent (BTTBTC) trade with over 130% profits potential:
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The first higher high from XBT since 10 Feb., still, a long wick down (rejection).
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EMA300 and this trendline (blue), stopped Bitcoin on the way up:
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Ethereum is taking the lead... If ETHUSD breaks to the upside, to can expect Bitcoin to do the same.
A strong close this week can lead to massive bullish action next week for the entire cryptocurrency market...
The altcoins are already doing great numbers.
Let's see how it goes.
Daily and weekly candles will be closing in less than 3 hours.