alanmasters
Long

Bitcoin (BTCUSD) Gains Momentum ($7000 - $7200 Next)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin (BTCUSD*) is gaining momentum and strength with today's huge green candle and volume .

On the 5th September, I mentioned that Bitcoin would start its bull run between 19-21 September (you can see it here). Now, I don't know if this is already the start of the next cryptocurrency market bull run, but the action we have been seeing lately is indicative of incoming change. Change is positive, since the bears have been owning the market since January. So change is good for the bulls.

  • We've seen how the altcoins have been growing. Moving up massively and showing great strength on the retrace while creating higher lows.
  • We've seen how volume is increasing for all of the altcoins.
  • We are seeing new action for Bitcoin and momentum, today, that we haven't seen in a while.
  • All in all, Bitcoin is moving up strong.
  • Next target $7000 - $7200+.

The chart:
  • We have support around $6500 followed $6350. These will be our main support.
  • We look for resistance when reaching $6900, followed by $7000 and later $7200.

What will happen next?

Will Bitcoin go back down or will it move up and make us all rich once again?

Your support is always highly appreciated... You know that...
So I would like to thank you for reading once more!

Namaste.
P.S. Check my profile for many more trades.
Comment: Previous analysis:
Comment: Our POWRBTC trade hit our first target today, within 48 hours of posting...

XRPBTC is the biggest indicator we have that the market is changing trend. Ripple wouldn't be going up if the market was to continue on its bearish bias.

What will happen next?

The cryptocurrency market will be doing really good within the next two months. The time to buy is now, either Bitcoin or the altcoins of your choice.

Namaste.
Comment: Bitcoin next SUPPORT & RESISTANCE levels:

POWRBTC:

ADABTC:

XLMBTC:
Comment: "It can take several more weeks for the general public to understand, but we will have a bull run within 2 more months coming our way. "

Comment: If we hit all of our targets, the next one stands @ 0.000111.
Comment: Good day yesterday for Bitcoin. We are holding nicely.

All support and resistance levels can be seen on the chart:

Daily chart:
Comment: We just touched our main support, short term, in a flash, but the bulls quickly bought everything back up.

Here is the chart:

This support is marked by the 0.618 Fib. level of the last bullish wave, as well as the EMA50 (magenta) line.

That's definitely a beautiful candle. We love the volatility... Your support is highly appreciated.

Namaste.
Comment: Feel free to check my Ethereum analysis below:

ETHUSD:
Comment: We had a good close for Bitcoin yesterday. Let's look at the chart:



- Bear volume was below average.
- The long wick at the bottom of the candle indicates that the bears fought and lost, so the bulls pushed the price back up.
- We have strong support marked by EMA10 line and good bull momentum.
- A good consolidation day.
- Bitcoin can try another push up faster than expected... keep that in mind.
Comment: Bear volume is really low as you can see from the chart below. Pretty healthy retrace so far:
Comment: You can take a look at the main chart above which clearly shows Bitcoin going sideways (4h TF) with decreasing volume, this can lead to a breakout at any given time...

Here is the daily chart, I put the EMA lines there to show you how much "pressure" BTC is in, when you consider the trendlines as resistance and the EMA lines as support, not to mention all the Fib. levels... Take a look:

We continue bullish and the same levels remain:

Support mainly: $6500 followed $6350.
Resistance mainly: $6900, followed by $7000 and later $7200.

Thanks a lot for reading.

Namaste.
Comment: We will now go and test our $6,500 support...
Comment: We hit $6,500 and continue to the next support.

All support levels clearly marked on the main chart above. If this level doesn't hold, we go and test the next one which is ~$6350.

These price swings are completely normal and welcome. Bitcoin will remain on these ranges until we break out of the following triangle pattern (this is a daily time frame chart):

- Green trend lines work as support.
- Red trend lines work as resistance.
Comment: Clear long term daily chart with trendlines and support levels:

Long term weekly with the closest support and "important" resistance levels:
Comment: We touched our next support at $6369, from here we have the trend lines as support, which you can see on the main chart as well as our next fib. level.

We are looking to a higher low compared to last week, or a flash crash followed by a strong bounce here to start the next bull run right away... There are more scenarios of course, whatever happens next, we let it ride.

We have to wait for the daily candle to close as not to get too deep into price swings, but I am going for the higher low for now. Will update as we go.

Thanks a lot for reading.

Namaste.
Comment: Looks like this level is going to hold. We should keep an eye hear.

If this level holds, $6350+, we are looking at a higher low and a very good signal. But I am commenting early as usual...
Comment: You can continue following my Bitcoin updates here:
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hahah. you longed at the top of the rally hahaha. what a noob. i just cant take it anymore. hahah
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hosweetim89 ChartsOnTime
@ChartsOnTime, He needs a warning label. More often than not he's too bullish
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"We continue bullish" lol
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@artgen567, We continue bullish. This is just a classic retrace.
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artgen567 alanmasters
@alanmasters, What kind of term we are bulish? In 3 months - ofcourse we bullish. But you update so fasten like you analyze every 6H candle.
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@artgen567, Got it.
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artgen567 alanmasters
@alanmasters, Man Im dont wanna say bad to you. Just when Im reading this first time - it seems like idea for 1 week and you say bullish, althought we know overbought. Just say more correct about perspective term. Because when you say bullish without frame and we go down.. man, we are not bullish.
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IF we going to 7200 (less probability) we should see B now and C to around 6520. Only on this levels we can take descision to partisipate this trade.
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Hi Alan, big fan of you and your indicators!!

I'm not sure if you remember me, u gave me access to your scripts time ago..

don't worry I'll just post my chart in silence like the other guys do below.. and pls don't be mad ok?



ok ? Thanks..



I'm short 6770 / oscillators divergence.
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@alanmasters What do you think will happen on 30 September ETF?
+1 Reply
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