alanmasters

Bitcoin (XBTUSD) Moving Aries | $8.6 -$9k | Short-Term Full Moon

Long
BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin ( XBTUSD ) is likely moving higher now... but why?

On the chart above, take a look at the trend line ... This trendline worked as a strong resistance pushing Bitcoins price down multiple times.

After it was broken, Bitcoin challenged the next resistance and came back down to retest the trendline... The trendline held successfully and Bitcoin is now showing signals that it wants to go up...

Here are the signals coming from this chart
  • The MACD is showing a bullish crossover as well as moving on the bullish side.
  • The RSI is really strong at 60+.
  • Trading above EMA10/50/100/200 is really bullish .
  • Bull/Green volume growing on a Sunday/Weekend/ Full Moon (people are out in the streets on Full Moon ).

This is a bullish setup right here... But protection is needed.

The charts are always changing and this is a 1H chart. So in just a few hours, this whole setup can change drastically, for this reason, we prepare for any and all outcomes.

A break below support in the form of EMAs (EMA10 to 200), would increase the bearish potential and invalidate this setup.

A full candle closes below $8150 can be used as a stop-loss... Remember, this is not financial advice.

Thanks a lot for reading.

Thanks a lot for your continued support.

This is Alan Masters.
I am always sharing with love in my heart.

I hope you enjoyed this content.

Namaste.
Comment: Looks like it is about to move... ~$8500 - $8550 is the barrier to break... Closing above it can send prices higher...
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Comments

Thanks Master
+1 Reply
alanmasters sidhabdn
@sidhabdn, :)
Reply
Hahahaha another one
Reply
Thanks for everything - everytime I look at your chart and do the opposite - easy profit :)
Reply
Good idea! Thx alan
Reply
Kraken and coinbase 1min chart volume scary but bitstamp and bittrex 1min volume puts me at ease for now
Reply
alanmasters DurgDurg23
@DurgDurg23, Geez... 1MIN!!!

What about 60 minutes later... :D
Reply
magemushroom alanmasters
@alanmasters, When in doubt zoom out!
Reply
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