Long

Can Bitcoin Go To $10,000+? New Bullish Scenario Considered +...

Updated

Bitcoin (BTCUSD) hit a low on the 30-Sept. and has been printing higher lows since... Looking at this setup, a new possibility emerges.

After the strong drop around the 24-Sept., the bear volume has been low and Bitcoin recently managed to break above EMA10 on the daily timeframe.
Above EMA10 gives us bullish potential...

Now that EMA10 has been conquered, the next target becomes EMA50 which is sitting at $8800+, but $8588 needs to be taken out first.

Let's take a close look at the RSI (Relative Strength Index) indicator to see if it support further growth

Here you can see BTCUSD RSI's trading above resistance (red dashed line)
New low (oversold/weak) was hit on the 26-Sept. and now it is gaining momentum up.
Can easily hit up to 67 to support this move as strong.

What about the MACD (Moving Average Convergence Divergence) indicator?
Let's take a close look at it as well:

Even though it doesn't look as good as the RSI, the MACD is also trading above resistance (red dashed line) and this setup allows for additional growth.
If the MACD decides to move lower, it immediately has strong support.
The histogram is now green... Only follow up is needed by bulls, which can come as early as Wednesday or Thursday.

Here we took a more detailed look at our classic indicators and the Bitcoin (BTCUSD) chart in general shorter-term.

If you are looking for the LONG-TERM view, check the trade idea below:

Bitcoin Weekly | New ATH After... $6.3K or $4.7K 2020 Bottom?

Thanks a lot for reading and your continued support.

This is Alan Masters.

P.S. I don't buy likes and traffic either, so if you enjoy this content and would like to show your support feel free to hit LIKE. :)
This is not financial advice.

Namaste.

Note

This is a strong drop.

The ALTS/BTC pairs remain strong, which is a positive signal for our trades.
I will wait for the daily candle to close and share a new update.

Thanks a lot for your support.

Note

LOVE AND LET GO!

Do you think being humble is good?

No. Being humble is an ability, just like writing, painting or like having the Spirit of dancing.

Like all abilities, like all forces in nature...
Everything has its different aspects, benefits and disadvantages.

In the path to enlightenment, we are guided to be humble, through feelings...
We are told, in many different ways, that being humble will eventually attract the feelings, situations and experiences we want for us.

But being enlightened and joyful and enjoying life in a conventional setting, is not the same as being humble.

In order to interact with people, you have to learn how human interaction works... If you want to be successful in sharing with others your deepest thoughts.

So what's wrong with being humble?

There is nothing wrong with being humble, it is just that the disadvantages are not seen by the humble ones but the ones that will exploit them.

So instead of staying open and taking in the pain.
Use a different ability, your EGO, and stay away.

Tell yourself... "Yes, I love you... But I also have the Ego and is telling me to I love myself more... If I want to share this love with you, first I have to let you go!"

Namaste.

Note

Super bullish Bitcoin... Looking really good.

Thanks a lot for your support.

Namaste.

Note

New update:

Everything Chances Now... New Bitcoin Targets ($12,000+ Next?)

AlanSantana

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