We know that there is a balance between Bitcoin and the Altcoins.
When Bitcoin is growing, the altcoins retrace/correct/consolidate or simply bleed.
When the Altcoins are growing, Bitcoin tends to be going sideways while being strong.
How does this picture reverse?
How does the Altcoin affect Bitcoin when the total market capitalization is 900 Billion+.
These are the questions that I am now getting very often... If Bitcoin will retrace, how far can it go?
The potential targets we look at are based on the timeframe we are reading...
Even though we have a very strong bearish candle today, with really high volume... It is still very early on this move, here is the daily (D) chart for BTCUSD:...
In the Spirit of 2021 and Bitcoin hitting a new high daily... HIT LIKE before getting started!
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We are likely to be witnessing the last monthly bullish candle before Bitcoin starts to retrace... How far up will it go?
Looking at our Fibs. on this chart, based on the monthly timeframe, we have the following resistance levels coming...
Wait... Don't get too comfortable... Remember that one?
Retraces and corrections have been non-existent for Bitcoin... Or better yet, short-lived.
We are seeing strong consolidation take place near resistance.
When prices are going to drop, they drop.
Staying near resistance is a signal of strength.
Based on this chart, BTCUSD 1H, we are likely to see higher...
Today, the weekly RSI for Bitcoin just hit its highest level since December 2017.
Bitcoin's weekly RSI has only been above 88 three additional times in the past.
Back in June 2017, November 2013, and February 2013.
Both times BTC hit this level back in 2017 the RSI dropped followed by a massive growth in the Bitcoin price.
Looking back at 2013, there was...
Bitcoin just hit a new high today at $24722 on BitStamp and other major exchanges.
Its price remain trading above EMA10 and all other EMAs.
We have a stable ascending channel in which BTC is trading and all bearish signals that we saw back on Dec. 20-21 have been deleted.
Both the MACD and RSI went through a reset and prices continue to aim and climb higher.
Bitcoin, BTCUSD, on the weekly timeframe continues to aim higher... Let's have a closer look at the RSI, multiple milestones have been hit this week... Let's get into it.
BTCUSD (W) RSI:
Here we can notice that the RSI hit above 80 for the first time since December 2017 when Bitcoin hit it's All-Time High (ATH).
Bitcoin (BTCUSD) found support just above MA200 and is now breaking all resistance while moving up.
In one single candle, we are seeing prices move above EMA10, EMA50, EMA100, EMA200, and EMA300...
Opening the doors to additional growth.
BTCUSD GREEN Chart Signals
Strong bullish/green candle.
My beloved cryptocurrency enthusiast, supporters, and successful traders... Here we have the Bitcoin Weekly chart.
We looked at the 4H + Daily (D) timeframes earlier, shared below, and we saw the bears moving in and pushing prices lower...
We read the charts perfectly and we hit our targets.
Now, we know that each timeframe is unique and provides us with...
The FTSE100 (UKX) looks strongly bearish while aiming lower.
We have multiple signals that support the above...
1) Prices moving below EMA10/21.
2) MACD trading below the zero line and looking weak.
3) The RSI is trending lower yet still good.
4) Bad news for UK with a new lockdown likely taking place.
5) Less political manipulation of the market allows easier...
It's been a while since I shared some numbers for Bitcoin (BTCUSD).
We have a trade active now on 10X lev. and I would like to share our targets with you for learning and/or entertainment purposes...
Here they are:
-> We opened a SHORT Friday with a buy price of around $11110 - $10850.
-> We are using 10X....
We have Bitcoin (BTCUSD | 4H) facing resistance at MA200, the black line on the chart.
A strong drop followed after BTCUSD closed below MA200 back on 2-Sept.
Prices dropped from ~$11600 all the way to $9800+.
Today we have a rejection at MA200 on the 4H chart...
We have a bearish cross on the MACD.
Bearish divergence between BTCUSD and the MACD.
We are looking here again at the S&P 500 Index (SPX), let's mix the message we get from this chart in relation to the US Elections.
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Now, the chart technicals.
We have a bearish SPX chart with prices closing below EMA50 for the first time since May, we saw a fake breakdown of this level as prices quickly moved...
Bitcoin (BTCUSD) on the daily timeframe is still looking bearish.
The classic bearish flag is now showing up as a pattern while prices remain trading below EMA100.
If a bounce happens resistance is likely to be faced at EMA50 ($10935).
If prices break lower we have support all across the $9ks.
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Bitcoin (BTCUSD) is now aiming at $9100 or EMA50 on the weekly timeframe...
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Last week we got a higher low and also a candle close below EMA10, signaling a switch from bullish to bearish short-term.
With prices now trading below EMA10, Bitcoin is aiming lower.
The next support is sitting at $9100/$9250.
Marked by EMA50 and the...
Ok... I know what's on your mind...
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We predicted Bitcoin (BTCUSD) hitting around $9600 but...
As soon as this happens a new question comes up...
Will it resume growing or will it go lower?
Let's keep it simple shall we?
Bitcoin is very likely to go lower.
Now, I am not saying this based on upcoming news...
Ethereum (ETHUSD) moves back to follow Bitcoin (BTCUSD).
On the last move, ETHUSD went on to post a higher high while Bitcoin printed a lower high...
The chart for Bitcoin was clearly bearish but Ethereum instead looked like the bulls had won.
Now we have prices breaking below EMA10 on increasing volume and momentum building upon the drop.
We've been looking at Bitcoin but keeping our focus 100% on the Altcoins...
Here are the questions that continue to come up:
1) What will happen to the Altcoins if Bitcoin crashes?
2) Will there be a new Altcoins bull run?
3) If yes, to question #2, when will it happen?
4) How are you doing Alan Masters?
Ok... Let's get to it.
First, I've given...