BTC Weekly- EMA10/50 Bearish Cross- Long-Term Target At $48,0000

Wishing you a great Sunday in this beautiful 2020... Please allow me to show you why I believe Bitcoin is about to produce a relief rally and move up.

Here we are looking at Bitcoin (BTCUSD) on the weekly timeframe and we will focus our attention on the EMAs and past history for this analysis. Let's get started!

EMA100 As Resistance, Now Support

Back in April 2019, Bitcoin managed to conquer EMA100 and followed up with a very strong bullish run.

After prices peaked for BTCUSD in June 2019, all the conquered levels were tested as support. Each time a level is hit, a bounce happens.

• EMA10 was hit in late July and prices bounced.
  
• EMA50 was later hit in September and prices bounced before moving lower.
  
• Now, EMA100 has been hit and we are expecting a bounce... This is the first signal.
  

Bitcoin Weekly EMA10 vs EMA50 Bearish Cross

The next signal is the EMA10 line crossing down the EMA50 line, we are calling this a "Bearish cross".

Each time we had this cross Bitcoin prices moved up... Let's take a look!

Nov. 2014 (72% Jump from bottom to top)
$275 Low - $475 High
Chart:

Jul. 2018 (48% Jump from bottom to top)
$5755 Low - $8506 High

Dec. 2019 (31% - 51% Jump from bottom to top)
$6477 Low - ~$8500 - $9750 High (Projection)

The low is already in by the time the bearish cross takes place, so our low is set with the 16-Dec. candle based on this scenario, which is also a hammer (bullish).


Long-wicks Candles

Another signal is the long-wick on the candles in the past few weeks. This is a rejection of sellers.

All these signals are pointing to a relief rally/bounce in prices to happen next.

To finish, let's first hit LIKE and continue to take a look at the full chart for Bitcoin (BTCUSD) with long-term targets:

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Thanks a lot for reading.

Thanks a lot for your continued support.

This is Alan Masters.

Namaste.

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I wanted to give you a great/profitable start to this beautiful year 2020, and I hope that you followed the charts/trades below... they ALL HIT!

ENJOY THE PROFITS!

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Comment:

NO NEED TO CRY, I STILL LOVE YOU!

In a life full of challenges, which we don't judge nor consider right or wrong... Crying is only the solution at hand for some of the situations that leave us saying... "I don't know".

We work so hard to try and control other people's thoughts.

We work so hard so that you are not FREE, so that you cannot have your own moments, so that you cannot grow and we call it LOVE!

Some others have no attachments to the outcomes and only feel grateful and practice gratitude by saying thank you, cultivating the feeling and really appreciating just the fact that they are alive, that they have the chance to be involved.

Any conflict with ideas of what is right, who is right, what is wrong, who is wrong is completed dissolved...

Love can be expressed through the Ego, by controlling, arguing, screaming and not letting-be of the other Soul...

Or you can just say Thank You!, enjoy the moment and let God deal with it all.

Whatever happens next, I am open to the will of God!

Namaste.