Bitcoin (XBT) Price Action (1-Dec) @alanmasters

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Namaste.
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Bitcoin’ (XBT) is doing nicely on the chart and moving up... Let's take a quick look at price action and see where Bitcoin's price will go next.

• We are now challenging EMA50 (magenta) which is sitting at $4155. If Bitcoin can break and CLOSE above this level, we can test $4350 followed by $4550 next.
  
  
• The immediate resistance is sitting at $4190, which is a fib level and can be clearly seen on the chart. You can expect the price to range between this price and EMA10 (green) which is working as support.
  
  
• Our next support, after EMA10 which is sitting at around $4070, is our green uptrend line.
  
  
• If XBT fails to break resistance and falls back down, $3850+ will be our support.
  
  
• So we are looking for a close above ~$4200 in order to continue our climb up, if the set up fails we go back down and test support.
  

Our next update will come once the above conditions changes.

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Thanks a lot for reading.

Your support is truly appreciated.

Namaste.

Comment:

Here is an example of one of our trade signals shared earlier today... all targets reached within hours.

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Trade Courtesy Of Alan Masters Bitmex (AMB) Signals:

Trade: Long XBTUSD

Current Price: $3982

Time Frame: 4 Hour

Leverage: 15x

Current Resistance: $4218.5

Buy in: 1. $3930- 25%
2. $3950 -25%
3. $3970- 25%
4. $3990- 25%

Take Profits:

(1). $4000
(2). $4050
(3). $4070
(4). $4100
(5). $4160

Stop Loss: $3888

Estimated Liquidation Price: $3831

Profit Potential: 54.87% ROE

Capital Allocation: <10%
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XBT Long All Targets Reached. 54.87% ROE.

Comment:

On the daily time frame, we are looking at a MACD bullish crossover:

The RSI is also setting up nicely, it needs to break above 50 to reinforce bullish strength.

Comment:

This new candle now needs to close above $4190 we can try and test our next targets " $4350 followed by $4550 next".

Comment:

Our PMABTC trade generated 69% profits in less than 48 hours... Check it out here:

You can also find our latest Bitcoin Updates here:

Comment:

$3850+ remains as support. Unless XBT breaks and closes below it, we remain with the same view...

Comment:

We will test $3550+ next. If this price holds we jump back up, if it doesn't we continue lower testing our next support:

Comment:

The immediate resistance is now sitting at $3890. We need to break and close above this price on the 4h time frame before we can look back at moving up short term.

Comment:

I will be posting a new "price action" update for XBT soon to keep track of its movement.

Thanks for the support thus far.

Namaste.

Comment:

We are looking positive now...

Comment:

Bitcoin (XBT) Price action update (4-Dec) now live: