alanmasters

BITCOIN Weekly Closes Bullish Inverted Hammer (Down Then Up!)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Weekly candle for BITCOIN’ (BTCUSD’) closes as inverted hammer . When it comes to candlesticks , this is a bullish candle, take a look:

"The inverted hammer is a type of candlestick pattern found after a downtrend and is usually taken to be a trend-reversal signal. The inverted hammer looks like an upside down version of the hammer candlestick pattern, and when it appears in an uptrend is called a shooting star ."

Consider the following points:

- Strong support (6k level making bears go crazy)
- Bottom of downtrend.
- Increasing green/bull volume .
- Market sentiment changing.
- Altcoins on a bull run.
- Alan Masters
- Namaste.

Note: Expect a small retrace in price followed by a move up to test our next resistance.

Next target: Galaxy Travel.

Thanks a lot for reading.

If you enjoyed this post, feel free to like, comment, share & follow for more.

God Bless You!
Divine’ is your Soul.

Namaste.
Comment: Previous analysis:
Comment: Bitcoin Sideways Continues. This is what we were expecting for a while, sideways action with small bouts up, this allows time for the altcoins bull run to continue.

At one point Bitcoin will do another push up and then retrace back to the same range to allow more times for the altcoins to continue.

For now, we have $6500 as very strong support, holding since 21st September, and $6780 as resistance with $7000 being very strong resistance.

Here is the chart:

Your support is highly appreciated.
Please like, share, comment and follow


Namaste.
Comment: Bitcoin continues with sideways 'boring' action... So we trade altcoins - FOR HUGE PROFITS - in the meantime.

DNTBTC is moving up, gave a 'warning' 9 hours before it happened, take a look:


MCOBTC, we have it since 6th September, huge profits now:

Enjoy the trades while we wait for Bitcoin to resume its action.

Thanks a lot for reading.

Thanks again for the amazing and continued support.

Namaste.
Comment: Decred (DCRBTC) will be added to Binance tomorrow.

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Related Ideas

Countertrade the bulls:

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Thanks for confirming my shorts. I really like your timely confirmations. :)
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seems like we have similar Idea
August 13th, September12th, October 11th, were all important recent date for the market, specially BTCUSD 0.18% -0.29% .
So I just expect November 09th or 10th to be a very important date as well for the market, could be extended to the week of November 12, 2018
The reason is that the week of November 9th -1.44% -1.44% 2017, BTCUSD 0.18% -0.29% . was up 38.6%, which initially sparked the altcoin bullrun.
That 38.6% ($2242), is the biggest %gain BTC 0.18% -0.29% has since that week.

It is the same week that is holding us as a major support right now because that week opened at 5810.00, Low 5780, High 8130, Close 8052.7.
If you Notice the BTCUSD 0.18% -0.29% weekly chart, the week of 25 June 2018 had a Low of 5780 (current bottom), which coincide with the Low of the week of November 9th -1.44% -1.44% .

In 2018, on the week of 25th of June , 13th of August and 17th of September, BTCUSD 0.18% -0.29% had shown a very important character. It reversed the previous aggressive downtrend with a powerful hammer stick with an average gain of ~3.1% in each of those candle stick. Those 3 weekly candles are currently forming the Higher lows of the current bottom formation.

My final observation is that if BTC 0.18% -0.29% does not break the strong support formed by the "week of 25th of June, 13th of August and 17th of September". the market can spark a bullish trend and challenge 11200, which is 0.382 fib level from all time high.

I have drawn a major trend line curve that needs to be broken also at 7770 on late November 2018.
If this curve is broken, we will most likely follow it to all time high.

Bear in mind that we are still in bear market and that this is just probability that could fail at 100%.

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More like inverted noob's sord.
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Thank you Alan. Our perspective has this 4H Channel Down moving to the 6,380 - 6,300 Lower Low zone next:

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tommix InvestingScope
@InvestingScope, wow pathetic. at least connect top line, not only bottom.
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Series of signs and patterns signals possible end of BEAR market, do have a look:

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