Bitcoin Already Decided What To Do Next! (Support & Resistance)

Updated

Bitcoin broke down once more, yet our support (marked green from previous analysis) held nicely and price quickly bounced after hitting $3462 as a low.

We see a bullish hammer and some strong bullish divergence coming up on the MACD.

The rsi+Mfi indicator is also giving a buy signal, coupled with the bullish MACD crossover. A small catalyst is needed and Bitcoin can make a jump.

As for support and resistance levels for Bitcoin we have the following:

SUPPORT: Same green area as before. If BTCUSD moves down, this is where it will find support. If it breaks, the next support is sitting at $3383 followed by $3223 on this time frame.

RESISTANCE: On the way up, the immediate resistance is at $3674 marked by EMA50 (magenta), followed by $3870 next.

You believe that Bitcoin can now move up after testing support, or you think that Bitcoin will test this support again and break?

Let me know in the comments section...

Namaste.

Comment

RESULTS! I would like to share with you some of my results. Click on the images/links and then hit PLAY/LIKE to check them out.

Thanks in advance.

Namaste.

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Comment

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Comment

Retrace is pretty good so far, we remain above EMA10. Good chance to break up, momentum is needed.

If EMA10 is broken... bad news.

Here is the chart:

Comment

So we wait patiently.

THANKS A LOT FOR THE AMAZING SUPPORT.

Here is a quick opportunity... ENJOY!

Bitcoin (XBT) LONG - 25X Possible (Let's Trade!)

Namaste.

Comment

I apologize (sorry), posted the old Bitcoin (XBT) chart above.

This is the current one (posted today)...

Bitcoin (XBT) About To Shoot Up (60%+ ROE on 25X)

There is no strength though, still looking weak... Bitcoin that is.

Comment

If Bitcoin does more sideways (rangebound), you can expect the altcoins to continue booming.

If Bitcoin does up, you can expect the altcoins to calm down a bit, but also continue moving.

If Bitcoin goes down, you can expect the altcoins to continue moving positive.

Right now the only way for the altcoins to stop, is for Bitcoin to do really bad. A Bitcoin flash drop/crash, can stop the altcoins.

All the others scenarios are looking really bullish for the altcoins market. I will keep on tracking this and share how it goes.

There are many opportunities right now with the altcoins, so make sure to take advantage of these as much as you can.

Namaste.

Comment

There is also weakness on this drop, just as there is weakness to move up...

BITCOIN SIDEWAYS CONTINUES... This is what we were expecting from the beginning with altcoins booming.

Comment

...Well, I want to clarify something if I may... This is completely UNTRUE! ...

... To start ... Continue reading:

Say I AM Bullish Since April On Bitcoin? (NOT TRUE - Read Here)

AlanSantana

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