Bitcoin Continues Its Climb Up! (Next support & resistance level

We are trading in an ascending channel.

Bitcoin has strong support marked by trend line, moving averages and fib. support.

Right now Bitcoin is retracing, letting off pressure, to prepare for another push up.


Bitcoin Support & Resistance Levels

After we hit $7300-$7500, we can revisit the chart to mark our next target.

For support we are looking at mainly $6800 followed by $6550+.


Charts, signals & indicators

The weekly chart looks positive. This week didn't have enough volume for a strong move up. We either get the volume from buyers or we keep on "reloading" until mid-next week when another push up can happen.

If the bears take charge, we will visit the support levels mentioned above.

Thanks a lot for reading...

Make sure to visit my other trades in the "Related ideas" section below... They are doing good at the moment.

Alan Masters here...

Namaste.

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Previous analysis:

Trade active

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Bitcoin on the 12 hours chart:

- We can clearly see resistance marked by the EMA200 line (brown) around $7,130.
- We can see support around $6850+ marked by EMA100 line (dark blue).

Bitcoin has been trading within this narrow range for a few days. We are looking to consolidate and accumulate to later make the next move... We wait patiently.

The Moving Average lines, which I use often, are now producing several bullish signals. These signals can take a while to develop, but they hit most of the time. So we should be seeing Bitcoin moving up, according to these signals, by mid next week... Of course, this can change if our support breaks... If that happens, I'll post an update for you.

Namaste.

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It is moving as expected...

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The daily candle closes in 1 hour. We are happy with a close above $6,900, this will give additional strength to the bulls.

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Bitcoin touches the next level, stopped right at the trend line... Here is the weekly chart:

Bitcoin continues its climb up. We are now above EMA100 on the daily time frame and we have a bullish crossover of EMA10 and EMA50, this is a strong signal...

Daily chart:

- We retraced as expected. Bounced from the lower end of the ascending channel, and continue our climb up.!

Comment:

Please take a look at my EOSBTC trade here:

Make sure to support me once I launch my new platform... It will be available soon... In a matter of days.

Comment:

Take a look at DASH.
DASHUSD had a 15,200% bull run last year, can you believe it? This is the cryptocurrency market, the stock market for the people!

(Bitcoin continues trading nicely within our ascending channel).

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From one of our great supporters @royeo
(Thanks for sharing with us in the comment section).

Comment:

Good close for Bitcoin, we are now trading above EMA100 on the daily.

- We also have a bullish crossover of EMA10 and EMA50.
- We continue trading within our ascending channel.
- We have strong support @ $6800.
- Volume was average for the day, but can be considered good for a Saturday.
- We continue tracking Bitcoin's movements in our next trade idea...

Thanks for the continued support.

Namaste.

Comment:

Please check my latest trades: www.tradingview.com/u/alanmasters/

ONTBTC:

XDNBTC:

DGBBTC:

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New Bitcoin Update (Click image below):

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Bitcoin Continues Its Climb Up!