alanmasters
Long

Bitcoin Moves To $4500 Next According TA (Support + Resistance)

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin still hasn't shown any significant retrace. Looking at the chart above, signals are coming which are pointing to a breakout to the upside without any retrace at all, is it possible?

Of course, it is possible...
Let's take a look at the 3D Time Frame chart so that we can show you what we are seeing...
Perhaps you want to hit LIKE now before we get started...

Thanks a lot for the support.


What can we learn by looking at Bitcoin ( XBTUSD ) on the 3 Days (3D) chart:

  • Let's start with the last candle that closed. XBTUSD is showing a full green candle with the highest volume since the 18th of December. This candle fully confirms the break above EMA10 (green line) which gives increases Bitcoin's bullish potential when it comes to TA.

  • The next signal is the downtrend line from the 27th November, also marked (red dashed line) on the chart. Our full green candle with above-average volume closed above this trendline , signaling strength. Two days after the breakout and still remains above it holding strong.

  • RSI is bullish and at its highest since September 2018, that's 5 months. The highest it has been in 5 months.

  • The MACD is trending up and gaining momentum.

  • The next strong resistance is sitting at $4241, which is marked by the 24th December's peak, followed by $4423 which is marked by late Novembers peak and EMA50 ($4503). So the next target for Bitcoin , if it can break above $4241, is the $4420 - $4500 range, this is where the strongest resistance will be met. If this level is broken, Bitcoin can continue its climb up. I will share a new analysis with the targets that follow.

  • The main support on this time frame is EMA10, which is sitting at $3700. For Bitcoin to go bearish it needs to close below this level. As long as we remain above it, the above analysis remains valid. If it breaks down and closes below it, then a new analysis is needed as the possibilities of additional bear action increases.

My View: Bitcoin wants to break to the upside with the least amount of retrace possible. I believe this can happen within the next few days. 3-5 Days max for the next breakout.

The chart signals and indicators are pointing to a breakout to the upside. I also agree with the charts on this part.

What about you, where you think Bitcoin is headed next?

Share your charts and opinions in the comments section below...

Thanks for the support.

Namaste.
Comment: Bitcoin breaks to the upside... No retrace:

Now sits above EMA100 on the daily time frame. This is the resistance to conquer right now. Things are looking good:
Comment: 4H Candle close above resistance, full green with high volume.

We still aim for our targets as mentioned in the analysis above.



Thanks a lot for the support.
Comment: Read this as well, the market is turning bullish...

Total Cryptocurrency Market Cap. excluding Bitcoin (Full Long Term Analysis w/ Targets):



Total Market Cap. including Bitcoin:

Comment: The daily candle for Bitcoin (XBTUSD) closed above 2 resistance, including EMA100 and produced really good volume.



I am expecting additional bullish action.

I will post an update on the daily time frame.

Thanks a lot for reading.
Comment: Altcoins (these are just getting started):

NEOBTC (+16%):

ONTBTC (+62%):

EOSBTC (+32%):

ICXBTC (+4%):

XEMBTC (+7%):
Comment: Recent BitMEX trades (thanks to your support):

ADAH19 (+40% in 3 days)


BCHH19 (+32.9% profits in 3 hours)


LTCH19 (+175% ROE next target)/


XRPH19 (+46.8% profits in 4 hours) https://www.tradingview.com/chart/XRPH19...
Comment: Bitcoin continues:
Comment: Bitcoin Starts Its Retrace:
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BTC Market Update: More Upside After Flash Crash
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I REALLY HOPE THAT ONCE IN A LIFETIME YOUR CHART WILL BE CORRECT. sAD TO SEE SO MANY POST AND ALL OF THEM SO WRONG.
+5 Reply
@tommix, Keep hoping, you are a doing a great job.
+1 Reply
I think the 4.200 psychological is an important Weekly resistance, and I would like the bulls to consolidate here, in order to cool the RSI down on the Daily, before we break the Weekly Equilibrium.
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I think a bullish run will come in the next few weeks, just because Elon Musk has said Crypto is the future... this will make every man and his dog run out and buy it.
+1 Reply
alanmasters ApexFX_Pro
@ApexFX_Pro, At least his vision is working correctly.
+1 Reply
ApexFX_Pro alanmasters
@alanmasters, it is, he is a clever man... and a lot of people ain’t so clever. Take a look at our latest post on the matter if you have time :)
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kardia ApexFX_Pro
@ApexFX_Pro, doubtful. Most people have stopped caring about Bitcoin. Evil banksters have effectively wrecked this market. It's no longer a threat to their precious fiat.
Reply
@gumbler, Nice chart, thanks for sharing.
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