Bitcoin Breaking Out On Weekends (No Retrace + Altcoins)
Updated
Many charts have been posted expecting a retrace for Bitcoin. Some are expecting a small retrace, like ourselves, while others are expecting a big retrace.
Looking at the chart above, so far there has been NO RETRACE when it comes to Bitcoin (XBTUSD). It just continues holding strong which is great news for the bulls.
Hit LIKE if you want to now... and let's get started.
Last year Bitcoin would retrace violently after any bullish action it produced was over.
It would make its move up and then be quickly be followed by a strong retrace, we are not seeing this anymore. From the last bullish wave, Bitcoin simply continues holding strong.
So let's look at some signals coming from the chart:
Bitcoin vs Altcoins (+Altcoins Market Behaviour)
The altcoins behavior has completely changed compared to past months. Altcoins are also holding really strong, consolidating, maintaining support and many are breaking above strong resistance primarily marked by EMA10 and EMA50 on the daily time frame. These are the strongest of the smaller market cap. alts which are preparing to move strongly when the next wave comes, so they need to take out the resistance now.
So we have Bitcoin holding its strongest in many months, and the alts doing exactly the same. We are seeing signals of strength all around and above average volume.
What will happen next marketwide?
My view: The alts will still do their crazy numbers, meaning, strong massive breakouts that can generate 30-50% profits in one single daily candle, but at the same time, it won't be the same as before.
I see, on the different charts, and feel, by studying them, that there will be lots and lots of sideways action and extended periods of long consolidation, so patience now will be more important than ever.
The cryptocurrency enthusiast is used to seeing great action, massive action and they don't like to buy when crypto is slow. So a slow market allows for more whale accumulation at the bottom, without alerting the masses. Remember that whales, advanced traders, smart money, and us, are the ones buying at the bottom, beginners are not.
So if the cryptocurrency market has found a bottom, even a temporary one, the masses won't know until everything is already moving strong.
So I advise patience, loading up on your favorite altcoins before the breakout, and waiting to collect profits on the way up.
Forget about big fast profits, it doesn't work. This should be about positioning yourself now, taking it easy and seeing how it all goes. Because once we are at the bottom, the only place left to go is up.
What's your take on what the market will do next? I believe a breakout is on its way, in many 3-5 days, where we can see a good move supported by momentum and strength.
Please share your charts and comments in the comments section below.
Hit like for more great content and very profitable trades for XBT, XRPH19 (this one is already in the works) and much more.
Thanks a lot for reading... I truly appreciate your support.
Namaste.
Looking at the chart above, so far there has been NO RETRACE when it comes to Bitcoin (XBTUSD). It just continues holding strong which is great news for the bulls.
Hit LIKE if you want to now... and let's get started.
Last year Bitcoin would retrace violently after any bullish action it produced was over.
It would make its move up and then be quickly be followed by a strong retrace, we are not seeing this anymore. From the last bullish wave, Bitcoin simply continues holding strong.
So let's look at some signals coming from the chart:
- Bitcoin (XBTUSD) remains above EMA10, so it keeps its bullish potential.
1) Above EMA10 = bullish potential.
2) Below EMA10 = bearish potential.
Bitcoin remains fairly strong. - The RSI is solid and remains above 75, signaling that the bulls are in full control. Plus higher highs and higher low.
- Judging at the action we have been seeing lately if Bitcoin drops it shouldn't be more than 100/150 points.
- Lately Bitcoin has been breaking out on weekends, so let's keep an eye out this weekend to see if we can find a nice trade set up.
- If enough of you hit like to show that you are interested, I will share a FULL trade for XBT with huge ROE (profits potential).
- Our last XBT LONG trade generated over 103% ROE. You can see it here:
![[XBT][LONG][10X][104.9% ROE] @alanmasters](https://s3.tradingview.com/u/Uch5iczh_mid.png)
Bitcoin vs Altcoins (+Altcoins Market Behaviour)
The altcoins behavior has completely changed compared to past months. Altcoins are also holding really strong, consolidating, maintaining support and many are breaking above strong resistance primarily marked by EMA10 and EMA50 on the daily time frame. These are the strongest of the smaller market cap. alts which are preparing to move strongly when the next wave comes, so they need to take out the resistance now.
So we have Bitcoin holding its strongest in many months, and the alts doing exactly the same. We are seeing signals of strength all around and above average volume.
What will happen next marketwide?
My view: The alts will still do their crazy numbers, meaning, strong massive breakouts that can generate 30-50% profits in one single daily candle, but at the same time, it won't be the same as before.
I see, on the different charts, and feel, by studying them, that there will be lots and lots of sideways action and extended periods of long consolidation, so patience now will be more important than ever.
The cryptocurrency enthusiast is used to seeing great action, massive action and they don't like to buy when crypto is slow. So a slow market allows for more whale accumulation at the bottom, without alerting the masses. Remember that whales, advanced traders, smart money, and us, are the ones buying at the bottom, beginners are not.
So if the cryptocurrency market has found a bottom, even a temporary one, the masses won't know until everything is already moving strong.
So I advise patience, loading up on your favorite altcoins before the breakout, and waiting to collect profits on the way up.
Forget about big fast profits, it doesn't work. This should be about positioning yourself now, taking it easy and seeing how it all goes. Because once we are at the bottom, the only place left to go is up.
What's your take on what the market will do next? I believe a breakout is on its way, in many 3-5 days, where we can see a good move supported by momentum and strength.
Please share your charts and comments in the comments section below.
Hit like for more great content and very profitable trades for XBT, XRPH19 (this one is already in the works) and much more.
Thanks a lot for reading... I truly appreciate your support.
Namaste.
Note
Previous long term analysis:Bitcoin Weekly Is Revealing (Bullish Engulfing)
Cryptocurrency Total Market Cap Breakout + Bullish Potential
Note
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Note
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Note
So far still no retrace, Bitcoin (XBTUSD) remains above EMA10 on the 4H and 1D time frames: Note
Latest Bitcoin Update (3 Days Time Frame): 
🔝 Daily Cryptocurrency Technical Analysis
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🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
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🚨 Free PREMIUM Trade-Numbers
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