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10 Reasons Why Bitcoin Will Continue Its Climb Up! Do You Agree?

By AlanSantana
Updated
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.
Note
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
Note
Here is how we close on the 8H chart: snapshot

And the daily chart as well (Bitcoin needs momentum if it wants to move up today): snapshot
Note
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: snapshot
Note
Here comes the drop: snapshot

- Light blue is the EMA100 line.
- Orange is EMA200.
- Magenta is EMA50.

These are support levels.
Note
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: snapshot

Here is another chart: snapshot

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.
Note
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: snapshot

Thanks a lot for reading.

Namaste. :)
Note
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):

Top Altcoins Buy Before Consensus 2018 (+Altcoins Market Update)


Thanks a lot for your continued support.
Note
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: snapshot

snapshot

We reached the oversold line on the 4h time frame RSI and bounced strong there, this is a good signal: snapshot
Note
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.
Trade active
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: snapshot
Note
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:
Top Altcoins Buy Before Consensus 2018 (+Altcoins Market Update)


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.

Namaste.
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