Late January I had my expectations set for Bitcoin to start stabilizing by mid-February. Later I updated this "prediction" to mention stabilizing and / or going up by mid / late-February. We will see how that goes.
Bitcoin has been doing good lately, but we are not "there" yet.
I am waiting for this day to close, hoping that Bitcoin can break and stay above $9,500 to signal strong momentum. We are now, on the short term, but still there are some barriers that needs to be broken.
Above you can see the 4 hours chart (4 hours per candle), we have many positive signals, as well on the 1 Day chart, but these charts still need more time to develop a stronger signal. I am really enjoying the increase in price, but I am waiting for this day to close to post my next Bitcoin update.
Remember, I am a huge Bitcoin supporter and I love the idea of it and the entire cryptocurrency market. It offers great opportunities for many of us, all around the world. But we are still on a downtrend, so it is better to wait for clear confirmation, before acting on a conclusion that hasn't been reached yet.
Anyways, things are pretty simple, here are some scenarios for Bitcoin:
(1) Either Bitcoin keeps on gaining momentum and moving up, signaling more strength if we close the day above $9,500, or...
(2) Bitcoin slows down but doesn't go down, it starts going sideways, accumulating for the next step, or... finally...
(3) Bitcoin breaks down, and go and test our support levels again.
For now, we are moving strongly up.
Let's hope we can keep up the momentum, I will be sharing a full update, once we reach our goal.
The MACD has now fully crossed over and is trending up with plenty of room for growth.
On the shorter time frame, the 2h chart, you can see the SMA 20 & 50 curving up and crossing the SMA200. This is a good signal but the RSI is hovering around the overbought line.
We have good signals all around but the best one of all is the price, it keeps on going up strong.
We are happy with Bitcoin, let's just keep pushing so that we can keep on moving up.
Take a quick look at the 4h chart:
Bitcoin right now is going up. It is consolidating to test our next target / resistance.
So I am seeing it as bullish with tendencies of going sideways... I am not seeing many bearish signals but I am seeing many positive ones.
Let's keep on going UP!
Bitcoin keeps on moving up strong!!!
1 hour chart:
The last two days have been positive, the daily chart looks good for the day. The shorter time frame are on retrace.
Here is the daily chart, it shows that we are still going up with the need to retrace to gain more momentum:
If it reverses hard, we can go straight to $8,100+ levels. Any harder than that, and we will have plenty of time to post an update about it.
So far Bitcoin is showing lots of resilience. Which is great in my opinion, but we stay open for the different routes this coin can take.
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What are your thoughts on this? Sounds very irresponsible coming from someone like Vitalik IMO.
Master, i really look forward to your thoughts on this as i have been following you for a while now and with all due respect, i Trust your judgement. Though i am not a premium member of yours, but still i have for the first time managed to make some Money (in any type of trading) by following you.
Thank you from my Heart !!!