Long

Bitcoin (XBT) Price Action (1-Dec) @alanmasters

Updated

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Namaste.
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Bitcoin’ (XBT) is doing nicely on the chart and moving up... Let's take a quick look at price action and see where Bitcoin's price will go next.

We are now challenging EMA50 (magenta) which is sitting at $4155. If Bitcoin can break and CLOSE above this level, we can test $4350 followed by $4550 next.
The immediate resistance is sitting at $4190, which is a fib level and can be clearly seen on the chart. You can expect the price to range between this price and EMA10 (green) which is working as support.
Our next support, after EMA10 which is sitting at around $4070, is our green uptrend line.
If XBT fails to break resistance and falls back down, $3850+ will be our support.
So we are looking for a close above ~$4200 in order to continue our climb up, if the set up fails we go back down and test support.

Our next update will come once the above conditions changes.

If you found this information useful, hit LIKE for more.

Thanks a lot for reading.

Your support is truly appreciated.

Namaste.

Note

Here is an example of one of our trade signals shared earlier today... all targets reached within hours.

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Trade Courtesy Of Alan Masters Bitmex (AMB) Signals:

Trade: Long XBTUSD

Current Price: $3982

Time Frame: 4 Hour

Leverage: 15x

Current Resistance: $4218.5

Buy in: 1. $3930- 25%
2. $3950 -25%
3. $3970- 25%
4. $3990- 25%

Take Profits:

(1). $4000
(2). $4050
(3). $4070
(4). $4100
(5). $4160

Stop Loss: $3888

Estimated Liquidation Price: $3831

Profit Potential: 54.87% ROE

Capital Allocation: <10%
---
XBT Long All Targets Reached. 54.87% ROE.

Note

On the daily time frame, we are looking at a MACD bullish crossover:

The RSI is also setting up nicely, it needs to break above 50 to reinforce bullish strength.

Note

This new candle now needs to close above $4190 we can try and test our next targets " $4350 followed by $4550 next".

Note

Our PMABTC trade generated 69% profits in less than 48 hours... Check it out here:

You can also find our latest Bitcoin Updates here:

[BTCUSD][30% PP] Bitcoin Analysis + Trade - $5669 Next Week...

Note

$3850+ remains as support. Unless XBT breaks and closes below it, we remain with the same view...

Note

We will test $3550+ next. If this price holds we jump back up, if it doesn't we continue lower testing our next support:

Note

The immediate resistance is now sitting at $3890. We need to break and close above this price on the 4h time frame before we can look back at moving up short term.

Note

I will be posting a new "price action" update for XBT soon to keep track of its movement.

Thanks for the support thus far.

Namaste.

Note

We are looking positive now...

Note

Bitcoin (XBT) Price action update (4-Dec) now live:

Bitcoin (XBT) Price Action (4-Dec) @alanmasters

AlanSantana

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