Long

[TRADE CLOSED] Bitcoin Is About To Move Up! GET READY!

Updated

We closed our trade for Bitcoin (XBT), because we saw some uncertainty within the fake signals that were coming from the charts, so a close was needed.
You can see it here: https://www.tradingview.com/chart/XBT/yC5lcc6m-Bitcoin-Support-Bounce-XBT-LONG-10X-77-34-ROE/

Closing the trade safed us money and now allows us for a better entry to profit more on the way up.

Here is what I am getting from the chart above, this is the 4 hours time frame. That's 4 hours per candle and I am going straight into it.

The price got out of the Bollinger Bands, a bounce is necessary and the next 4h candle is now within the bands. If enough momentum can be garnered, check out the yellow circle on the left and green line.
There is a very strong bullish divergence on the MACD. This signal is already in place as price already bounced.
The RSI is massively oversold and it is showing hidden bullish divergence when you look back to late Dec.
One last signal, the last Bitcoin's drop wasn't as strong as it has been in the past weeks and months.
Now, if bears continue putting pressure we will go lower and test the next support. This is marked yellow on the chart and reads "support". We can easily bounce from this level, or consolidate to know what will happen next... At that point, another update will be shared for you brother/sister.
The best way to support your author is to hit LIKE and leave a comment...

Thanks a lot for reading.

Namaste.

Note

Note: This is not trade advice. This is a chart analysis for your own learning, support and entertainment.

You can use this information, together with other great reviews and analysis from great Trading View analysts, to better determine your next move when trading Bitcoin.

To trade with me, remember that my trades are clearly described and contain buy in price/range, detailed targets, stop loss, capital allocation & more.

Your support is truly appreciated and you will always receive from me many more amazing trades.

I will keep on studying, working, growing & learning to give you something better, always, and more.

If you found a mistake please let me know. Yes I make mistakes, this is normal and from these we learn and continue to grow more.

Thanks again.

Namaste.

Note

You can use the zoom option to have a closer look.

EMA10 is working as resistance. If this resistance can be broken and close above, this would be a very good signal.

Note

EMA10 has been broken with strength... This is a good signal.

Note

Here I marked (magenta) the bullish divergence that showed up on the MACD before the breakout.

Chart:

- You can see the price going down while MACD moves up.
- You can also look at the MACD Histogram, notice it turned green while Bitcoin was going down.

Note

The last 4H candle of the day. Will Bitcoin be able to break up? I believe it will do so, but it can take its time.

3 Different scenarios:

- A break above EMA50 can lead us to our next target marked red.
- Some sideways action is possible.
- A break below brown line can lead to bearish action, we go and test support below (red).

On the daily time frame, any close above $3730 is a good close. So far it is looking pretty good with the potential for much more tomorrow.

Here is the chart:

Namaste.

Note

We are completing a retrace to start the next move. The purple dotted line on the chart is our main support. We continue with the bullish bias.

Note

We have a bull flag forming on the 4h chart, this is a bullish formation that signals a move higher:

Note

Looks like the retrace is complete and Bitcoin is trying to move up now... Needs momentum... I will be posting a new update soon.

Note

Look at the main chart above, our support is being tested.

This level needs to hold ($3666.6), or we fall down.

Note

Latest Bitcoin Update:

BTC Imminent Breakout + 3 Possibles Scenarios + $1,100 Next?

AlanSantana

🔝 Daily Cryptocurrency Technical Analysis
followalan.com

🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)

🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com

Also on:

Related publications

[TRXH19][LONG][10X][176% ROE] Tron on BitMEX

by AlanSantana

TRON (TRXBTC) Retrace Complete (Join The Next Wave)

by AlanSantana

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.