alanmasters
Long

Bitcoin Monthly & The Stock Market Crash

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Hello my fellow Cryptocurrency lover, let's take a look at Bitcoin now on the monthly time frame and also how the recent drop in the stock market can affect its price.

So please hit like now to show your support and allow me to entertain you for a few minutes...


Bitcoin Monthly Candles

Here we have Bitcoin on the monthly time frame and we want to keep it simple and simple it is:

  • First we have Bitcoin trading above EMA10 for the first time since May 2018. Last year Bitcoin broke below EMA10 on this same month, now it is moving above it, changing the growth potential from bearish (negative) to bullish (positive).

  • Really good volume on CoinBase, the biggest volume bar we've seen since February 2018. There have only been more volume in November and December 2017, when Bitcoin had its bull run.

  • The MACD looks good and allows for more growth, consolidation might be necessary but you never know how things are going to play out, keep reading below and you'll understand what I am talking about (stock market):
  • The RSI is strong at 60.78 and it shows plenty of room available for growth. Bitcoin's RSI has been seen as high as 96.32. Here is the chart:


Confidence Drops In The Stock Market

Let's take a look at the Dow Jones Industrial Average and the S&P 500 index in relation to Bitcoin and what effect on it its crash can have.

First, let's take a look at these charts, we can see both the DJI and SPX going down and gaining momentum, check below:

Dow Jones Industrial (DJI) Gaining Down Momentum

S&P 500 Continues To Drop

Both these indexes found a low on December 2018, together with Bitcoin , and they were fast to start moving back up reaching a peak on May 1st, 2019, see here the charts:

The SPX peaked and the DJI was already falling on May 1st

On the other hand, May 1st, 2019 Bitcoin started a massive run that increased its value by as much as 70.83%.

Bitcoin Accelerates May 1st

If the stock market continues going lower as the charts are saying and this same pattern repeats, we ought to see Bitcoin go much higher, in fact, we might be looking at money flying from the stock market to Bitcoin . Not because Bitcoin is a "safe haven" or great technology, maybe just to protect the value of their money in something that has a future... And, because Bitcoin can be their safe haven and it also is a new idea for money and has great technology.

Thanks a lot for reading.

Namaste.
Jun 01
Comment: For Bitcoin's support and resistance levels as well as the daily and weekly time frames updates, visit the charts below:

Bitcoin Can Go Higher, What Comes Next $11,000 or $7,400?
Read it here:
Bitcoin Weekly Update
See it here:
Wishing you a great weekend.

Namaste.
Jun 01
Comment: Remember our TOP 10 ALTCOINS for Long Term Profits article?

A new update has been shared here:

Also, TRON (TRXBTC & TRXM19) is back on the move... We are at 128.28% ROE (Profits collected) on our BitMEX trade... See it here:
Jun 01
Comment: NAV Coin (NAVBTC) Is Getting Ready To Move
Jun 01
Comment: TRADES!

Everex (EVXBTC)(236%) Trade

openANX (OAXBTC)(156%) Trade


RESULTS!
Skycoin (SKYBTC) +24.5% profits

NEO (NEOBTC) +9.7% profits
Jun 01
Comment: Looks like DENT (DENTBTC) is getting ready for action... Let's take a look at it here:
Jun 02
Comment: Thanks a lot for the support.

All winners have been messaged privately...

Namaste.
Jun 02
Comment: This one looks like is about to make a move... KMDBTC:
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I had been following your charts for some time now - and your timeless wisdom...beautiful charts - fabulous insights...so finally i joined your group..TODAY!...behind the scenes is even better than i had hoped for - thankyou mr masters...looking forward with joy :D
+1 Reply
@basslines, It is my pleasure. Thanks a lot for the amazing support.

Feel free to message me directly anytime.

Namaste.
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@alanmasters . I agree! Have a look at US China trade war is not over Bitcoin will pay the price:
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Unfortunately can't make enough time everyday, still enjoying all your work Alan, thanks :-)!
+2 Reply
alanmasters HanTheGibsonSlayer
@HanTheGibsonSlayer, Thanks! :)
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Alan, as always, THANK YOU for sharing your wisdom and insight. Following you on Trading View and Telegram has really helped me remove emotion and set aside FOMO. What will be, will be. You have helped me approach Alt Coin trading from a far more patient place. I was never able to accept a stop loss, until your messages helped me embrace the things I can not change. Your positive approach has helped me realize I deserve so much more time and energy for myself. This transcends trading and is contributing positive blessings and vibrations into all of my life. In turn I am doing my best to share this wonderful energy with everyone I can. My family and friends are EXTREMELY GRATEFUL! Please keep up the great work, and keep the love coming. Namaste.
+6 Reply
@cryptowar, Thanks a lot for sharing, truly appreciated.

You are one of the winners. Sent you a message.

Thanks a lot for the support.

Namaste.
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FWIW, I do not think that BTC lives and develops in a parallel financial universe, independent of the rest, and simply continues to grow strongly, while the financial markets continue to plunge into new depths.
As the cash supply becomes scarcer, the market capitalization of the cryptos may shrink.
I guess, the question will be, where do the people, who move a lot of money and want to get most and safe returns in the process flee to? Such people as pension and investment fund managers...
Do they flee just to the safe haven of Gold, which has been safe for centuries, or do they also flee into such volatile and unpredictable asset as crypto?
I don't think the answer is going to be that clear.
+3 Reply
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