This is a purely technical analysis.
We have some strong bearish signals coming out of the S&P 500 Index (SPX) chart.
First, we have a rising wedge, marked with orange dotted lines which tend to close bearish (this pattern can lead to a drop).
A peak was hit in May, we now have a higher high but bearish divergence is strong.
Bearish Divergence with the MACD...
A major Bitcoin network upgrade by the name of Taproot has been locked-in, this is a bullish development for the market.
This network upgrade will improve Bitcoin's privacy and improve on its smart contracts capabilities...
No, it is not because of Elon Musk.
See my previous articles
Bitcoin Bounce With $46,000 Potential Target? See Inside | June 9...
When Bitcoin is at the top,
When prices are peaking,
When it would be unwise to buy more...
The mainstream media is publishing bullish articles, being supportive and strong.
When the mainstream media goes negative and calls for the end... It is time to start buying, they know nothing about this game.
Bitcoin has been killed a million times over, again and...
Bitcoin's price is bouncing after a higher low.
We have a potential target of $45k+ if EMA50 can be conquered first.
Strong resistance at $35,000 to $37,000...
Above this level we can hit $40,000+.
BTCUSD 4H Timeframe Chart Signals
We have some bullish signals on this chart:
MACD young bullish cross (This is an early signal)
RSI above 50.
No analysis... You've been warned.
Unless you see news of more trillions being printed, expect the SPX index to crash strong in the coming weeks/months.
Likely course of action
1. Test of ~3950
2. Small bounce and then test of ~3600
3. Strong drop, long lower wick to test low ~3ks.
4. Slow drawn out recovery...
What's your take?
I saw some indications based on the long-term daily, weekly and monthly charts that points to a potential bear cycle for Bitcoin, which would also tells us that the ALTSBTC pairs can continue to print huge growth...
Hold on, wait! Let's go back a few steps...
What is happening now?
What will happen in just the next few days and weeks to come?
Regardless if this...
We have a positive signal now with Bitcoin (BTCUSD) moving above EMA10 on the 4H timeframe.
EMA10 sits at $50763 (candle closure is needed for this bullish signal to be confirmed).
The 4H candle closes in 2 hours.
With prices moving back above EMA10, this signals that the bulls are jumping back into the game.
Our initial and main support at $55,000 will now...
The charts are now changing... This is the total cryptocurrency market capitalization, Bitcoin + Altcoins.
Today, we have the highest volume, bear volume/red, since February 2021.
Yesterday, TOTAL close below EMA10 and EMA21 with EMA50 being tested today.
We have bearish cross on the MACD and the RSI is dropping...
The whole cryptocurrency market...
We looked at Dogecoin (DOGEUSD) on the daily timeframe; many bearish signals starting to develop.
Today, we are going to be looking at the 4h timeframe where we can gain additional information as to what is going on with this market/pair.
First, we notice how DOGEUSD went to test EMA200 as support after breaking below EMA100 back in April.
This same scenario...
Bitcoin continues to consolidate near its All-Time High.
The daily candles are trading above EMA10, EMA21, and EMA50 as well as all other EMAs. (bullish)
The MACD is above zero (bullish zone).
The RSI is above 50 (bullish zone).
We have average volume (neutral).
The Altcoins continue growing (bullish for Bitcoin).
The more the altcoins grow the better it is...
Looks like Dogecoin (DOGEUSD) has gone up for a while now printing massive growth...
We have multiple bearish signals starting to develop on this chart.
Today, we can see DOGEUSD moving below EMA10.
EMA21 has already been tested as support... The next time it is hit it is likely to break.
We have bearish divergence with the RSI, same on the weekly...
We are looking at the 2H timeframe for Bitcoin (BTCUSD). This is a short-term analysis, things can change fast.
We are looking at the mirror move from the drop in mid-April.
Just as prices go down, they can also go back up.
We are looking at the possibility of Bitcoin going back above $60,000 or more.
Maybe a new All-Time High...
"Bitcoin is very likely to...
We saw Bitcoin go above and beyond...
Ethereum did the same and continues to grow...
But what about Litecoin?
Litecoin hit a new All-Time High just a few days ago on average volume... A positive signal at this point.
We have resistance just ahead but, how far up can it go?
We are likely to see much more growth, if Litecoin is to follow the King and Queen of...
We have another very good close for Ethereum (ETHUSD) on the weekly timeframe.
Last week closed above $3,600, this can lead to even higher prices.
Now, $3,900 might sound like a lot but only if you are comparing to earlier prices... Remember when Bitcoin was $3,000?
Bitcoin is now worth over $58,000 for one single coin... Ethereum can go through something...
Many people continue looking at Bitcoin... What will it do?
Will it finally breakup?
Will it loss support and go down?
Based on past history each time Bitcoin peaked the reaction was very fast, clear and strong... Today, the market changed... We can see Bitcoin consolidating near the top, meaning, sideways action.
When Bitcoin goes sideways the altcoins...
Ethereum (ETHUSD) continues with its very strong bullish bias and price discovery action... How much higher can it go?
Everything continues to point higher.
More and more adoption news, events taking place.
More companies integrating cryptocurrencies into their platforms.
Something many believed was impossible just a few months ago.
We held through the entire...
There you have it folks, just a small correction (ending in a higher low) and Bitcoin resumes growing... Once more showing that Patience is the key.
This is not set in stone though, nothing is specially when looking at charts, they are always changing.
Our main support on the 4h timeframe based on my previous analysis is set at $55,000, this is our main...
I am always on stage telling myself over and over to be patient… But it isn’t easy, especially when the market is moving and you don’t know what is going on.
Bitcoin… It is time to grow.
Bitcoin (BTCUSD) 4H Timeframe Analysis by Alan Masters
We have a bullish chart.
We predicted a bullish breakout, even though we refrain from making predictions, and this is...