Bitcoin is getting ready for additional growth and this last retrace can be seen as part of the fun. Please allow me to entertain yourself for a few minutes...
So... THANK YOU for reading and thanks a lot for your continued support (make sure to like, share, comment and follow).
This is going to be a very quick post about Bitcoin, detailing a few signals that makes me believe that Bitcoin will continue going up... Let's see what we have (above we have an 8 hours per candle chart - last candle closes in 2 hours):
1- We have a very strong green candle. 2- We bounced from the bottom of the Bollinger Bands. 3- We are trading within an ascending channel. 4- The last two candles together give out a bullish signal (this one is only confirmed once the last candle closes). 5- MACD starting to curve up. 6- RSI had a strong bounce from a low that it hasn't seen in over a month. From here it is already curving up. 7- Bitcoin is trading above EMA100 and 200 lines. 8- We broke above the EMA50 (magenta) resistance, which will now work as support. 9- We are green on the Ichimoku Cloud. 10- The STOCH reached bottom and it is curving up with plenty of room left for growth.
Extra: Full negative 9 count on the TD Sequential, followed by a strong bounce.
So what's your opinion: Will Bitcoin Continue Its Bull Run?
Are we going up?
Please share your opinion in the comment section below.
Namaste.
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Here are the targets from my previous Bitcoin update. Thanks for all the likes, shares and follow. Your support is highly appreciated.
Bitcoin Short Term Targets:
(1) $10,300 - $10,650 (2) $11,450 - $11,700
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Here is how we close on the 8H chart:
And the daily chart as well (Bitcoin needs momentum if it wants to move up today):
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Bitcoin continues to hold nicely, we are going sideways short term. Pressure will build up, until the time for breakout comes. It can go either way, but we will have signals that will let us know.
Here is the 4H chart:
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Here comes the drop:
- Light blue is the EMA100 line. - Orange is EMA200. - Magenta is EMA50.
These are support levels.
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Bitcoin is correcting nicely, this is no big deal, we wait until the correction is over to continue with our climb up.
Here is the 4 hours chart:
Here is another chart:
If we break down the $8700 level, we then move to the $8,200 to $8,400 as our next support.
If that level is broken we find our next strong support around the $7,200 level.
Use this correction as an opportunity to buy, rebuy and reload on all of your favorite Altcoins as well as Bitcoin, as the market can really take off once the Consensus is over after May 15.
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Here is the weekly chart which we haven't looked at in a while. After 5 positive weeks, it is ok to have a correction week, we might as well have two or more, we don't mind waiting. Healthy corrections are necessary in order to gain momentum and continue our climb up.
Take a look at the chart:
Thanks a lot for reading.
Namaste. :)
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The best time to buy is when the price is going down.
The best time to sell is when the price is going up.
As Bitcoin is going down, and the Altcoins as well, feel free to rebuy and reload.
Namaste.
Please check my Consensus 2018 update to learn about the Cryptocurrencies that are going to gain the most exposure in this very important market event (click on the image below):
Thanks a lot for your continued support.
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We bounced strongly from the $8,200 support level, let's see if we can sustain this level in order to start our climb back up... As usual, this was a very easy wait...
Here is the chart:
We reached the oversold line on the 4h time frame RSI and bounced strong there, this is a good signal:
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With this type of "healthy" correction, weak hands are removed and Bitcoin can try again to break the $10,000 resistance that has been a strong barrier for so long. We will get there, don't worry, positive action is about to come.
Namaste.
Giao dịch đang hoạt động
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This trade is not over yet. A few days of retrace is as normal as a few days of pump.
We are in an uptrend and we will continue our climb up.
Please allow time for this trade to develop.
We bounced strongly from the $8,200 price level and we are consolidating to try another burst up.
If we can break the $8,800 resistance, we will move up harder next:
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It is very likely that Bitcoin will do some sideways movement before its next break up or down. We wait patiently... Bitcoin going sideways is good for the Altcoins (which are increasing after the Consensus 2018 started just as I suggested).
You can find all the Altcoins that are getting the best exposure at the Consensus by clicking on the image below:
Thanks for reading again and thanks for the incredible continued support.
I will be opening a new thread to continue following up on this post.
@alanmasters, time to hide for 2 months lol. You are really bad at predicting btc. I came to warn you once again about btc falling and you decided to give 10 reasons lol. I was just trying to help you. At next time at least consider what I said. The other thing is, just because you Have money to keep feeding the smart traders doesn’t mean we all have that money. Few weeks ago you were happy calling 10000% gains per trade nor one warning about btc falling. Is like you never trade and expect Btc to go up forever. My guess is you are giving all the money you charge away to the teasers who have a little more experience than others lol. Your recommendation of buy when it’s falling and sell when it rising is probably one of the worst suggestions for traders. But you have to justify your lack of understanding so you give that to your poor followers. “Be quick to sell the losers and patient to the winner” that is a trader rule.
Timothie_Roggers
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@ChartsOnTime, lol you are so salty. the emotion is palpable
Ecua_Trader
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@Timothie_Roggers, nah. Alan knows how I feel about him. He also knows I only post In his charts to warn him. He has no clue about btc and alts by default go with it. But anyways i tried for the 3rd time lol. You can go through his Btc chart and see who is the one telling him, “Alan, btc is about to dump” :) but seriously he can go back to his hiding place till Btc fools him again and he can give another 10000 reasons why btc will continue going up hahah.
StacksOfJack
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@ChartsOnTime, i Really appreciate your honesty man, i read and follow alans posts amongst alot of other "analysts". however its always down to us to take a huge variety of good and bad advice and learn from it. All you're trying to do is share information to the community that you truly believe to be helpful so ignore the angry people haha, being wrong is a bitter pill to swallow! Hell dude i lost money today and thought the opposite to your call but i totally commend you for being right because i know i saw what i wanted to see not what was actually infront of me!
Ecua_Trader
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@StacksOfJack, dont sell if you are at loss. Just hold. You will not lose money just the chance of a higher profit. ;)
@ChartsOnTime, followed you bro! :) i too will be travelling at the end of this year! starting in indonesia, would love to connect and share a beer!
Ecua_Trader
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@StacksOfJack, yes sir. The beauty of trading longer periods of time is that you don’t have to worry about your money much and you can relax in your vacation. Sure. In the future we can sit down a have a beer. I’m in USA now but next year will be in Europe. :)
leorio
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@ChartsOnTime, dude that buddah is a clown. do not trust him. real buddah should not seek wealth, which totally opposite as to what this fake buddah is alwaya doing.