alanmasters

Bitcoin Prepares To Move (Price Action 20-Jan)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has been creating higher lows on the 4H time frame, with a higher high hit yesterday.

Looking at the chart, you can see this marked with a green dotted line, this is our trendline .

The way I see it, as long as BTCUSD can stay above EMA10 & EMA50 (green & magenta lines) on this time frame, it can continue on the short term bullish bias we are seeing with the recent breakouts to the upside.

But, if Bitcoin ( BTCUSD ) was to fall and close below these levels, it can start going down and test our next support.

- Our main support for medium to short term, is sitting green on the chart at $3550- $3600. The immediate support is sitting at $3750 (EMA50).
- Now, on the way up, we are looking to challenge and break EMA100 ($3791) as our immediate resistance before we can challenge our last target for our latest XBT LONG trade ($3800).
(See it here: )

- If Bitcoin can move up strong, which it will do most likely today or tomorrow (or by mid-week depending on how the charts are looking- as I mentioned in my previous analysis), then we have resistance sitting at $3900 - $4100 after EMA200/MA200.

Where do you think Bitcoin is headed next?

I believe Bitcoin will continue moving up, we still see "sell" marked by the Trading View barometer, so we are leaning more torwards buy...

Share your thoughts in the comments section below.

Namaste.
Comment: Previous analysis:

Using A Manual Stop Loss For Beginners @alanmasters (Learning)


BTC Sideways + Altcoins Update (BQX, WABI, UP, PAY, STEEM)


BTC Imminent Breakout + 3 Possibles Scenarios + $1,100 Next?
Comment: BTCUSD Quickly moved down after publishing and bounced from our main support.

The green area is where strong support is found. If broken, Bitcoin will go lower.

Price can also bounce from this level as it did back in January 14th.

We wait and see...
Comment: While we wait for Bitcoin, let's take a look at those profitable altcoins... Here are some of our latest trades:

HOTBTC +90%


RADSBTC +68%


POWRBTC +40%


XBT LONG +37.2% ROE


ADABTC +18%


LRCBTC +70%


OAXBTC +140%
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If there is some people who understand french here : i made 2 video :

With a very long term outlook, 2010 to 2035 (1M$ BTC ?). Educational content
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congrats on another great chart alan, next time you are charting something think of all the people that actually lose money trading what you put up
+4 Reply
Looks like we bart back up from here (as opposed to the scary sentiment all over tv) and we have 1 last wave towards our wedge resistance before that big drop:

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Good Chart
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To undertand whats is happend with BTC and all the last pump in the Alt Market
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Namaste. Yes, Bitcoin does prepare to move. But not what you think. ;-) Bitcoin is about to make another big drop, you numbskulls. This time it will go down right. The first fall will be 0.236 of the total, as last time.
+6 Reply
We are perfectly primed for a long position like you're showing and are excited to ride it up with you! We are playing a very fast short trade and then looking for the bounce up. Great TA as always.
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eminenceheld TradeIndicators
@TradeIndicators, 93% correct of course - like now...
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how do you view weekend data mate? do just ignore most of it due to low volume and very spikey moves?
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@majorlee, Yes and focus more on the weekly close.
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