Bitcoin Gains Momentum, Bullish Engulfing... Again!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin ( BTCUSD ) is now printing the bullish engulfing pattern on the 4H timeframe, telling us that it can continue to grow right away if this pattern confirms.

We can see EMA10 ($7742) tested and a strong bounce with good volume and bullish indicators.

For Bitcoin to continue higher, the first barrier to break is ~$8000, the last high.

The immediate support is sitting around EMA at $7741 and $7690, this is the main support if prices start to retrace. Any lower and we look for EMA50 and/or $7400 - $7450.

Right now we are bullish and aiming higher...

Previous analysis: Bitcoin (XBT) Challenging EMA300 | Can Lead To $8,111+

Thanks a lot for reading.

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Comment: $9200+ More possible now than ever...
Comment: Moving up fast now...
Comment: -
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tell what you think about this work
your chart is great) my btc analysis
Alex_Clay Alex_Clay
@Alex_Clay, appologies wrong chart)
alanmasters Alex_Clay
@Alex_Clay, Let's hope we go that high.
alanmasters Alex_Clay
@Alex_Clay, Thanks for the chart.
Why suddenly everything is falling except BTC?
+1 Reply
BullWick rockyPetr
@rockyPetr, See it all the time... They get out of alts for one of 2 options: 1- BTC pump; 2- massive dump incoming so need it all in one asset.
I'm leaning #2 as alts led up and now lead down perhaps. Still in for 40% of my long but expecting it to get stopped out in profit. If option 1....gravy.
alanmasters BullWick
@BullWick, Thanks for sharing.

The Bittrex altcoins remained the same...
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