alanmasters

UP! Don't Get Too Comfortable, Bitcoin Can Resume Growing!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We've been seeing Bitcoin ( BTCUSD ) doing incredible numbers this entire year basically...

Retraces and corrections have been non-existent, maybe a few red-candles or one long lower wick and then more growth... Something similar can happen again.

The next resistance is now set at $28377 which is yesterday's high...

On the daily timeframe , we continue to look pretty good:
When we go to a lower timeframe, 4H as shown on the main chart above, we can see that Bitcoin ( BTCUSD ) is still strongly bullish .

Yesterday, we were able to spot the drop based on the Doji printed on at 4:00 UTC ... But prices are now back above EMA10.

Remember this, we stay bullish always above EMA10.

As long as prices stay above EMA10, the bulls are on top.
If prices move and close below EMA10, we look at the bearish potential.

Right now, Bitcoin is trading above EMA10 on both, the 4H and Daily (D) timeframes putting the bulls ahead.
The RSI is also super-strong.

So, we remain bullish but on the lookout... Bitcoin is likely to resume its growth.

What's your take?
Share with us in the comments section below!

Namaste.
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Comments

Could spike to 30k before retracing back below 20. Orrr it could just keep growing...
Reply
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