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Bitcoin

Bitcoin Trading Range ($6360 - $6480) - What Next?

By AlanSantana
Updated
BTCUSD’ (4H-TF)

  • Here you can see Bitcoin’ trading sideways.
  • Price action ranges between $6360 and $6480.
  • EMA200 (Orange) working as resistance.
  • EMA50 (Magenta) working as support.


BTCUSD’ Analysis

  • If Bitcoin’ breaks above EMA200 and top of the channel (purple line), it can move up and challenge $6600 followed by $6800.
  • If Bitcoin’ breaks below EMA50 and the bottom of the channel we go and test next support at $6200.
  • Bitcoin’ can continue consolidating sideways as well.


This is a short term analysis.

Please like, share, comment and follow.

Your support is appreciated.

Namaste.
Note
Altcoins market is booming more and more, see gains in the past few hours for certain coins:
  • KOREBTC: 177%+
  • INCNTBTC: 260%+
  • UKGBTC: 140%+
  • CLOAKBTC: 30%+
    [/LIST]

    More info:
    Bittrex Pumping: Kore 177%+, Incent 260%+, UKG 140%+, Cloak 50%+
Note
Close up of the sideways action. Narrow trading range: snapshot
Note
This chart makes it very easy to read Bitcoin, pure sideways.

Nothing to add. It needs lots of sideways so the alts can keep on booming. Once the alts have grown some, Bitcoin can do a short burst up for the alts correction to come and then resume.

It will be a long ride, and it will be slower than what many people think... Until it is no longer and it starts to move up strong. You know these markets, they will surprise at every single turn.

Namaste.
Note
BTCUSD breaks channel:

"If Bitcoin’ breaks below EMA50 and the bottom of the channel we go and test next support at $6200. "

We test our next support.

For more updates, visit my latest Bitcoin trade idea (thanks for the support):
Bitcoin Retraces Hits Oversold - 4H [TIME TO BUY BITCOIN]


Namaste.
Trade closed: target reached
BTCUSD’ Analysis

- If Bitcoin’ breaks above EMA200 and top of the channel (purple line), it can move up and challenge $6600 followed by $6800.
- If Bitcoin’ breaks below EMA50 and the bottom of the channel we go and test next support at $6200.
- Bitcoin’ can continue consolidating sideways as well.

We broke down and went as low as $6211.
We moved back into the channel and broke up and went as high as $6540. We will hit $6600 and $6800 next.

For more updates come here:
BTC + ALTCOINS -Cryptocurrency Market Update, Sentiment Changing
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AlanSantana
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