Bitcoin (BTCUSD) Price Action (19-Dec) @alanmasters

Bitcoin (BTCUSD) is finally moving just like we like it... GREEN.

Today's price action update is going to be really straight forward and simple.

I am looking at a short term retrace to EMA10, to then continue climbing up. EMA10 is the GREEN line on the chart.

"Continue climbing up" would mean hitting our next target, which is around the 'red' on the chart.

If EMA10 doesn't hold as support and is broken, then I will post an update with an updated view of the situation.

For now we wait patiently to rebuy at support and go LONG there.

We can also SHORT the retrace, but this is more advanced, so I don't recommend it for beginners since mistakes can be made.

You can feel secure in holding your Bitcoin's for long. We already had plenty of bear action, now it time to move on.

Namaste.

You can see my/our (me and you) previous analysis here:

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For the retrace, you can see this chart here Bitcoin (XBT):

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P.S. This is NOT trade advice. You can find trades in my profile.

Use this information together with other analysis and your own research to better determine your next best course of action.

Again, trades are clearly detailed in my profile with buy in, targets, stop loss, capital allocation and more.

Thanks a lot for your continued support.

It is truly appreciated.

Make sure to hit LIKE!

Namaste.

Comment:

Remember, above EMA10 is strength / holding, below is weakness.

So we want the candles closing above:

This is a strong one, 4H, you can spot the resistance (red dotted line and orange EMA200) and support (EMA10):

Trade active:

Moving positive!

Trade active:

Here is the actual chart, you can see we are reaching our strong resistance zone and EMA300 (gray):

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Learning articles for beginners. Hit LIKE if you LIKE them... :D

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Bitcoin (BTCUSD) Price Action (20-Dec) - $4500 Next?

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Our main support is holding at $4030.