Bitcoin Can Easily Test $8788/$9100 + Altcoins Market Update
Updated
Bitcoin (BTCUSD) continues going lower after a failed attempt to remain above EMA10 on the 20th of July.
We can go deep into the charts, price action, "manipulation", market cycles and all the rest, just as we can keep it simple...
Keeping it simple... While Bitcoin is bullish it always remains above EMA10. When it becomes bearish, it trades below it.
EMA10 is marked here with a GREEN LINE.
Bullish view: The bullish action for Bitcoin lasted 194 days, so remember that is normal for the price to retrace... Here is the chart:
For Bitcoin to turn bullish, short-term (we remain bullish long-term), the first barrier to conquer is a break and close above $10,600... After remaining above this level, it needs to gain momentum up. Right now this is the scenario with the fewer probabilities...
Altcoins Market Update
We were expecting for the Altcoins market to start booming after mid-July (the 15th July to be specific).
Most alts hit new lows as we expected and shared on the article below... Now after consolidation, the new wave is taking form.
We are seeing lots of bullishness developing and we are already seeing great gains.
In a matter of weeks, we will know if this new wave will be big... And yes, that is exactly what we believe.
Conclusion
I am sharing this article from my heart with LOVE!
Thanks a lot for reading.
Click on my profile @alanmasters for many more charts.
Namaste.
We can go deep into the charts, price action, "manipulation", market cycles and all the rest, just as we can keep it simple...
Keeping it simple... While Bitcoin is bullish it always remains above EMA10. When it becomes bearish, it trades below it.
EMA10 is marked here with a GREEN LINE.
- Moving below EMA10, which is now sitting at $10584, the next support is sitting at EMA50 ($10108).
- If EMA50 fails to support BTCUSD, then we are very likely to test $9,000 again or lower at around $8788 (EMA100).
- This is the scenario that we have been warning about for the last two weeks and the one that is taking place.
- We also warned yesterday that today could be a red day.
Bullish view: The bullish action for Bitcoin lasted 194 days, so remember that is normal for the price to retrace... Here is the chart:
For Bitcoin to turn bullish, short-term (we remain bullish long-term), the first barrier to conquer is a break and close above $10,600... After remaining above this level, it needs to gain momentum up. Right now this is the scenario with the fewer probabilities...
Altcoins Market Update
We were expecting for the Altcoins market to start booming after mid-July (the 15th July to be specific).
Most alts hit new lows as we expected and shared on the article below... Now after consolidation, the new wave is taking form.
We are seeing lots of bullishness developing and we are already seeing great gains.
In a matter of weeks, we will know if this new wave will be big... And yes, that is exactly what we believe.
Conclusion
- Bitcoin is doing great, holding strong at 10k.
- The altcoins market removed all gains.
- Now we have all the altcoins sitting at new lows...
- And once we hit the bottom, the only place left to go is UP!
- Feel free to hit like and show us some support.
I am sharing this article from my heart with LOVE!
Thanks a lot for reading.
Click on my profile @alanmasters for many more charts.
Namaste.
Note
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Note
Previous analysis: Bitcoin Looking Down To Retest $9000 (Key Support Levels)
Prediction: The Next Alternative Cryptocurrency Market Bull Run!
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Thanks a lot for the support.
Note
FULL TRADE for our great readers, supporters, and followers.OSTBTC](296%) Simple Token Trade Signal @alanmasters
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Bitcoin (BTCUSD)(1D) Shorts & Longs: - BTCUSD SHORTS have reached a new all-time low and can potentially bounce.
- LONGS are moving lower and facing multiple resistance.
The chart above support our current analysis.
Thanks again for the support.
If you have any questions make sure to leave a comment... It will be our pleasure to reply.
Namaste.
Note
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Will it go higher or lower next week?
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