Bitcoin Bullish Signals (Learning) - 4 Beginners @alanmasters

We can see that Bitcoin (XBT) has printed another Doji on the hourly time frame, this time this one created a higher low compared to the last one. The volume is still lower than last two but it is growing.

This same hourly candle can be divided in two when we look at the 30 minutes chart. Here we can see this signal as "Bullish Engulfing". Here is the chart:

When the candle closes this signal is confirmed. You can trade based on this signal, here is how it works:

1) You can trade aiming for the next resistance with the stop loss being a close below the low of the Doji candlestick. A break and close below this level is your stop loss while your targets will be the resistance levels on top. In this case we are using Moving Average lines for targets but you can use Fib. proportions as well.

2) You can notice the RSI and MACD being bullish as well. Price is now trading above EMA10 (green line) These are just simple signals but they can help you better identify a profitable trade.

There are many ways to find targets and support, but these MAs lines works great for Bitcoin and cryptocurrency trading in general.

Note: This is no trade advice. All of my trades are in my profile and they contain buy in, targets, stop loss and additional information necessary for trading. When you see this information lacking, this is either an educational article or simple analysis without the intention to trade.

Your support is truly appreciated.

Hit LIKE!

Namaste.

Comment:

Note: This is no trade advice. I really appreciate your amazing support.

Our Tron (TRXH19) trade has been posted as promised. Your support is truly appreciated.

Huge ROE on BitMEX. You can see it here:

Make sure to hit LIKE, leave a comment and click on follow: www.tradingview.com/u/alanmasters/

Namaste.

Comment:

@bitcoinbobby is doing a great job. One of our great followers / supporters.

Here is one of his latest charts:

I hope you enjoy it.

Comment:

(TRADE CLOSED) - You can read my latest Bitcoin analysis here:

Comment:

Looks like it was a fake breakdown... Nice breakout for Bitcoin.