Bitcoin Breaking Out On Weekends (No Retrace + Altcoins)
Looking at the chart above, so far there has been NO RETRACE when it comes to Bitcoin ( XBTUSD ). It just continues holding strong which is great news for the bulls.
Hit LIKE if you want to now... and let's get started.
Last year Bitcoin would retrace violently after any action it produced was over.
It would make its move up and then be quickly be followed by a strong retrace, we are not seeing this anymore. From the last wave, Bitcoin simply continues holding strong.
So let's look at some signals coming from the chart:
- Bitcoin ( XBTUSD ) remains above EMA10, so it keeps its potential.
1) Above EMA10 = potential.
2) Below EMA10 = potential.
Bitcoin remains fairly strong.
- The is solid and remains above 75, signaling that the bulls are in full control. Plus higher highs and higher low.
- Judging at the action we have been seeing lately if Bitcoin drops it shouldn't be more than 100/150 points.
- Lately Bitcoin has been breaking out on weekends, so let's keep an eye out this weekend to see if we can find a nice trade set up.
- If enough of you hit like to show that you are interested, I will share a FULL trade for XBT with huge ROE (profits potential).
- Our last XBT LONG trade generated over 103% ROE. You can see it here:
Bitcoin vs Altcoins (+Altcoins Market Behaviour)
The altcoins behavior has completely changed compared to past months. Altcoins are also holding really strong, consolidating, maintaining support and many are breaking above strong resistance primarily marked by EMA10 and EMA50 on the daily time frame. These are the strongest of the smaller market cap. alts which are preparing to move strongly when the next wave comes, so they need to take out the resistance now.
So we have Bitcoin holding its strongest in many months, and the alts doing exactly the same. We are seeing signals of strength all around and above average .
What will happen next marketwide?
My view: The alts will still do their crazy numbers, meaning, strong massive breakouts that can generate 30-50% profits in one single daily candle, but at the same time, it won't be the same as before.
I see, on the different charts, and feel, by studying them, that there will be lots and lots of sideways action and extended periods of long consolidation, so patience now will be more important than ever.
The cryptocurrency enthusiast is used to seeing great action, massive action and they don't like to buy when crypto is slow. So a slow market allows for more whale accumulation at the bottom, without alerting the masses. Remember that whales, advanced traders, smart money, and us, are the ones buying at the bottom, beginners are not.
So if the cryptocurrency market has found a bottom, even a temporary one, the masses won't know until everything is already moving strong.
So I advise patience, loading up on your favorite altcoins before the breakout, and waiting to collect profits on the way up.
Forget about big fast profits, it doesn't work. This should be about positioning yourself now, taking it easy and seeing how it all goes. Because once we are at the bottom, the only place left to go is up.
What's your take on what the market will do next? I believe a breakout is on its way, in many 3-5 days, where we can see a good move supported by momentum and strength.
Please share your charts and comments in the comments section below.
Hit like for more great content and very profitable trades for XBT, XRPH19 (this one is already in the works) and much more.
Thanks a lot for reading... I truly appreciate your support.
Bitcoin Weekly Is Revealing (Bullish Engulfing)
Cryptocurrency Total Market Cap Breakout + Bullish Potential
Ravencoin (RVNBTC) looking good today, several bullish signals developing:
SNGLSBTC +49% and waiting for additional profits:
Thanks for sharing.
I was turned very bearish due to the drop to $3.1k. I was absolutely positive we had farther to go as I took it as a warning. I've also been extremely skeptical of why we dropped this hard in the first place. A "hash war?" REALLY!? People open your eyes, that drop was executed with flawless perfection because the CHARTS for Bitcoin were incredibly bearish. Lower high after lower high after lower high all year until volume finally plummeted, because big money knew what was coming next. Anyway, the other day, I decided to compare the bear market of 2015 to our current one, from an analytical perspective and completely unbias.
I found an incredible similarity between the bear of 2015, and now.
Initial spike followed by an exact 0.886% lower high, followed by an ABC correction, followed by impulse, followed by a final dump and then the end of the bear market. The measurements line up flawlessly. If this turns out JUST LIKE 2015, we will rally to FINALLY create the first higher high seen in Bitcoin in over a year. Then, we dump. Hard. But we *should not* break our lowest low. If we hold support above $3,120 this bear is dead, at least for the time being. If Bitcoin creates its first higher high on the daily, and especially the weekly, that will be THE signal for a lot of money that has been waiting on the sidelines. A first higher high in over a year WILL slowly incite retail + institutional FOMO. I would not be surprised to see us above $6k by mid March if a higher high produces.
So to get a better clue of whether this could be accurate or not, tonight I decided to look at alts.
I just want to say ahead of time that the only reason these particular Crypto were chosen, is because they clearly outline what the vast majority of alts are doing right now in the market.
For NEO, this is a basic outline of what is called Elliott Wave theory. There is a 5 wave structure, followed by a correction.
NEO here shows a textbook 5 waves down, and is in the process of finishing its upwards ABC correction.
What happens AFTER that final C wave correction is anyones guess, but if this bear market is over and done with, alts are getting ready to make major moves upwards. Lately, some alts have had the highest daily volume bars ever recorded, especially on Binance.
Couple this with all the halvings coming up and you have a recipe for pure FOMO. At that point, all we need is a catalyst. DING DING Bakkt and Nasdaq. Gee, I wonder why Bakkt keeps postponing..?
Other alts have a literal flatline bottom going on right now, most with 90%+ corrections from ATH:
Ya know, I have a very bad habit of not zooming out when trying to analyze the movements of the market. Especially when it comes to alts. Tonight I just decided to look at clean charts with no TA of any kind, and see what I see.
I warn you now, regardless of what Bitcoin does in the near-mid term, we are at or VERY NEAR bottom at least in alts.
As they say on the Wall Street cheat sheet, this is your point of maximum financial opportunity. I'm positive of it. Anyone with half a brain cell left from this bear market can pull up a chart of a top alt and see that we are indeed at a very stable level when compared to the rest of the history/time on the chart.
Within the next 8 months or so, we are going to see a LOT of posts saying "Man, I can't believe Crypto X was SO CHEAP, and I didn't get anymore of it!" Especially the FOMO coins, like buynano ;) You wait and see, some coins are going to wake up with a historically large amount of volume. I suspect NEO will be one of those coins. Take ARK for instance - we all know what that has been doing lately. I believe what we're seeing in Ark is about to happen throughout the entire market, and a lot sooner than people expect. ESPECIALLY if we are indeed at bottom.
Oh my God the FOMO will be real.