Long

🅱️ Bitcoin Misses $35K August But What About September?

Updated

Yes! Clearly Bitcoin missed hitting $35,000 in August but who is to say that it won't happen in September?

What difference would it make if we are late by a few hours, a few days or just a few weeks? Not much difference if you ask me.

We can see a previous resistance level turned support and as support this level is working and can work to support an accumulation phase before prices jump.

We can see how this support level in June led to a bullish wave.
We can see how in August we have a higher low, with low volume on the bearish drop as now accumulation is taking place.

It would be bearish if Bitcoin moved below this level or were trying to break it continually but instead we can see only two wicks piercing through and a higher session close. This type of action coupled with the oversold RSI gives us a hidden bullish divergence, there is no reason to expect lower prices unless we see a complete, full, absolute breakdown of this support.

And thus we make it extremely simple, for newbies and for experts alike, for traders and journalists as well; I work for all.

✔️ If Bitcoin trades above $24,000 - $25,000, the bullish bias has maximum strength, this is technical analysis, in short; TA.

✔️ If this level breaks the doors open for a sudden drop, a drop that would keep this chart and the Cryptocurrency market still 100% under bulls control.

Bitcoin is absolutely bullish above 20K.
Anybody telling you otherwise needs to go back to basics, because the truth is that Bitcoin is doing great.

Do you think Bitcoin will hit $35,000 in September or higher?
40k seems easy...

Thanks a lot for your continued support.

Namaste.

Note

Grayscale just won its case against the SEC on its Bitcoin ETF, everything going up now!

New bullish wave confirmed, as predicted!

Note

Bitcoin might end up hitting $35,000 in August... We don't know yet, the month is not over.

We will know when the month ends.
Things looking good now, that's for sure.

A major positive event, good news... Just hit the market.
Let's enjoy it after some really nasty stuff, we deserve this, we deserve glory, freedom, expansion and growth!

Thank you all for the comments.
We continue winning everyday.

Cryptocurrency continues to evolve.
Cryptocurrency is the future of money and a technology that is here to stay.

Bitcoin is going UP!

Namaste.

Note

Did you guys see what is going on with Toncoin and Bitcoin Cash?

Toncoin (TONUSD) is ultra-strong and Bitcoin Cash (BCHUSD) is pointing towards $559.

Bitcoin at 40K is not just easy, it is almost guaranteed, basically!

✴️ Bitcoin Cash Support Confirmed, Next Target 150% At $559

✴️ Bitcoin Cash Support Confirmed, Next Target 150% At ...

✴️ Toncoin Major Bullishness (Full Analysis + Targets =135% Pot)

Thanks all those who trusted and the amazing support.
Thank you ready, we won once more... Many more wins to come.

Note

Things are changing, more news coming into the market.

Twitter (now X) has acquired a license to offer Crypto services/payments, trading & more, this can be big for the market.

I was mentioning in a recent analysis the fact that we might be back to those "early days", meaning, that instead of 3-5X per market cycle this time around we can see 10, 20, 30, 40 and even 50X... Just go back a few years to see what I mean or read the trade idea below:

✴️ Stacks | The Early Days...

✴️ Litecoin | Great Entry

✴️ Hit The Gas! Solana Going Above $50

Note

We have more proof that Bitcoin's explosive growth is only getting started... Please, allow a minute of your time to enjoy this information.

If you find it useful and agree, make sure to boost and comment for more.

Almost everybody is familiar with the inverse correlation between the DXY and BTC. When the U.S. Dollar Index goes bearish, Bitcoin goes up.

Look at this chart:

Here we can see the DXY dropping for three days, even before the SEC was embarrassed by the courts once more.

Just as the DXY pushes down, Bitcoin shoots up.

The next fascinating detail is the fact that the DXY is strongly bearish right now and moving below a fib. level. Going lower means that Bitcoin can continue higher and thus Bitcoin's explosive growth is only getting started.

Do you agree with this update?

Looking at this chart, there is no need to accuse people of insider trading for opening a BTCUSD LONG. The signal was clear based on the DXY and many other factors which I shared in a previous trade idea... The market moves in cycle, the bear market is over; it is the bulls turn.

Namaste.

Note

DXY weekly:

6 Weeks straight green can lead to 1-3 months of red, matching perfectly our expectations for the Cryptocurrency bullish wave.

Note

🅱️ Are the bulls losing?

What we are seeing now is the start of a new bullish wave, look back to March and June to get an idea as to what we are witnessing now.

Bitcoin moved sideways for months and then broke down.
The breakdown led to a higher low and now bullish action is being resumed.

What we see now is literally the beginning of a newly developing bullish wave.

These statements are supported by the growth many Altcoins are showing.
These statements are also supported by the bearish DXY as shown above. (This one is a very strong signal)
This is supported by positive news hitting the market: X (Twitter) and another SEC loss.

✔️ We also have the highest daily volume yesterday in months.
✔️ We have the MACD bullish cross and the RSI went to "extreme oversold".

Please don't be too fast in giving up on Bitcoin, we are preparing for massive growth.

Namaste.

Note

🅱️ Is The Current Move A Bull-Trap

We can easily tell if the current move is a bull-trap with a deeper examination into price action and volume.

Let's see what BTCUSD has to say on the 4H timeframe.
First, the chart:

We just had a very strong bullish breakout, this is confirmed by really high volume.

The retrace that followed, multiple 4H sessions/candles have really low volume, this dynamic was also true back in June before a major bullish continuation took place.

If this were a bull-trap, you would see the bearish/red volume being really high and strong as soon as prices start to drop. You would also see Bitcoin moving below support in the form of Fib. levels. None of this is present here.

We can see BTCUSD 4H trading above EMA10 and all Fib. retracement level support.
The current 4H session is about to end and bearish volume is very low.

It is a rookie mistake to draw a "head & shoulders" pattern before the pattern even shows up. The way technical analysis works, the pattern needs to be drawn fully by the candles and the neckline needs to break for it to be valid, anything else is wild speculation and a flight of the imagination.

While we can open ourselves up for prices going down or up, we just had a major bullish breakout that confirms the recent drop as a medium-term higher low.

Since we are in an uptrend since January 2023; this type of confirmation signals that the bulls win.

The most important part of all this... Patience is key!

Note

🅱️ BTC FAKEOUT As Grayscale Wins SEC?

👉 "Perfect rejection at 200d Moving Averages"

Yesterday's session closed above MA200 and today's session is still active/open. A rejection can only be called so if it happens, meaning, BTCUSD needs to close daily below MA200 and move lower.

Since this is a brand new move, it is way too early to call this a rejection as nothing has been rejected, action is ongoing.

👉 "The price was already oversold on the RSI, upside was to be expected regardless"

This is a bullish signal.
If prices were expected to go up and eventually go up, this confirms that TA works.

👉 ""Event" price action is usually bad price action (remember how the price of XRP jumped after SEC victory ruling just to fall all the way back down again)"

The current action can't be "event price action" if "the price was already oversold on the RSI, upside was to be expected regardless".

So Bitcoin was expected to go up regardless, it would be biased to call this move an event price action while at the same time denying it.

We can only confirm the current price action as a "fakeout" if Bitcoin moves and closes below yesterday's session low. Anything else is just wild speculation and a way to try and gain attention.

A close below $25,800 would be needed for this current move to be considered fake/bulltrap and this wouldn't invalidate the bullish bias; The bullish bias remains active/valid as long as the 17-Aug. low stays in place. Looking at the long lower wick on that day and the hammer 22-Aug., my guess is that we will need patience or can end up making the wrong call.

Note

Judging by past action, we are likely to see up until 7-Sept. (straight up).
After this it can vary...

AlanSantana

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followalan.com

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