alanmasters
Education

Bitcoin Oversold (RSI Lowest since 2015)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin’ RSI indicator has hit its lowest level since 2015.

Bitcoin’ is also oversold on the weekly time frame, this is a very strong signal.


You can see support levels on the chart, these are relevant now.

Lots of good can develop from here, it is good to have this drop . Bitcoin’ stalled since February, this is surely going to bring some action into the market. Action, is what we want.

TIME TO BUY BITCOIN’

Thanks a lot for reading.

Namaste.
P.S. This is no trade advice.
Comment: Divergence building up already... TIME TO BUY:
Comment: These are just signals. They do not mean that the price will move up or down, but they can help you determine what might come next... It is still for the market to decide.

We see divergence on the RSI.. ??
Yes. It is there.

We are oversold... Yes, easy to spot!

Will the price go up?
Please allow time for the chart to develop.

Support (green lines).
Resistance (EMA lines - magenta, blue, yellow).

- If support holds, price consolidate and tries the next resistance (up).
- If support breaks, we test next support (down).
- This same process repeats up and down... down and up.

Pretty easy... Enjoy your day.

Namaste.
Comment: Take a look at our altcoins trades, some are starting to detach completely from Bitcoin, this is an interesting and positive development for the altcoins:

XRPBTC


BTGBTC


XLMBTC


XSTBTC
Comment: We are almost there:
Comment: And we are bouncing now with good volume:
Comment: The Bitcoin is on the lower end of the Bollinger Bands both on the daily and weekly time frames, this points to a coming bounce:



Comment: "BREAKING: In a new notice, ICE Futures U.S., Inc. says it will list the Bakkt Bitcoin (USD) Daily Futures Contract on January 24 of next year. (link: http://ow.ly/u9Vy30mGMqP) ow.ly/u9Vy30mGMqP "

https://mobile.twitter.com/coindesk/stat...
Comment: EMA200 is our strong support, sitting around $4194, yellow line on the chart:
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I am concerned that user AlanMasters is posting incorrect and misleading information in order to pump and dump several of the highly vulnerable altcoins. Most of his charts claim that because a recent upward movement occurred in an altcoin, that it is worth buying or going "long" on; this lacks any real technical analysis (the whole point of this site). He makes extremely optimistic claims, almost always stating that each coin is set to hit a 150% - 1000%+ profit in the near future. Shortly after his charts, the altcoin is sold off heavily leaving buyers who would have used his chart with steep losses. There are hundreds of charts in his profile that exude this same trend. I've read several comments where people complain about him posting charts after a big movement has occurred, only for the trend to reverse and plummet right after his posting. With a high number of followers, users like this are easily able to exploit the public.
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This German professional from cmc, is expecting 2800$ as the next support... what do u think about that?
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lmao, thinking about it alan's calls must have literally lost people millions of dollars cumulatively this year
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The future of Bitcoin (published a month ago)

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We mooning again? Haha. Poor Alan please give him money he is broke.
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MACD & RSI mean nothing in capitulation. The bubble is popped. 2,000 coins, shrinking market cap = it’s over. Dow was oversold in 2008 when it hit 9,000 yet it went to 6,000. Fear is the strongest emotion. RSI won’t overpower fear. Sell, and get out. We’ve been saying this for months. Investors thought crypto was a safe haven from stock market volatility, yet here it is. Digital fools gold. Worthless code. Tulip mania is over. Welcome to financial deflation on a global scale.
+1 Reply
alanmasters BankofEngland
@BankofEngland, Feel free to buy now. Support now holding.
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BankofEngland alanmasters
@alanmasters, - lots of sellers, few buyers and weak buys too. There are no circuit breakers on crypto market. This can fall to $0 in one day.
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THIS TIME IT'S DIFFERENT

This is what happened Nov 2013 - Nov 2015

This is what's been happening Dec 2017 - NOW
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