This is the monthly chart for BTCUSD (Bitcoin) which shows the bulls in full control.
First, we use EMA10 as a gauge of bullish/bearish potential for any altcoin trading pair.
Above EMA10 for us equals bullish.
Below EMA10 for us equals bearish.
Right now, Bitcoin is trading safely and strongly above EMA10, keeping the potential towards the bulls.
The "Stimulus Pump" is real and it is now being felt on the Bitcoin's price.
Ever since the 1.9T Covid checks were approved this past weekend, we have been seeing the bulls jumping back on top.
Now that the news is in, prices are starting to go back up.
The last high is the next resistance at $58,350 but we can go higher based on the short-lived retraces and...
As for BTCUSD (Bitcoin), remember that we are just seeing a small price bounce... We are likely to see lower prices after this bounce is over.
A stronger correction is likely to take place.
We keep this view as long as Bitcoin remains trading below its All-Time High (ATH).
( More details in my previous analysis )
Altcoins Market Update
We focus our...
Just like Bitcoin, Ethereum (ETHUSD) will also resume growing but only after seeing lower prices.
It is normal to have a correction after such strong bullish action.
Here we can see that ETHUSD is already trading below EMA10 weekly, sending out a strong bearish signal.
(Note: Candle closure later today is needed for confirmation of this signal. ETHUSD most...
Let's look at the positive side and hit like...
Bitcoin is bearish after some really strong bullish action, but this is just a healthy correction taking place.
Yes, we see Bitcoin going lower since the 22nd of February but the trading volume is low and we continue bullish mid and long-term.
We are likely to see prices bounce to ~$50,000+ when EMA50...
The excitement starts early today for Bitcoin (BTCUSD) with prices already reaching new highs.
How far up can we go today?
Since 5-Feb., we have $65,000 as our main target.
You can see it below: