Long

Updated

Buy Bitcoin

Quite a few people are calling for another drop in Bitcoin, but I'm not convinced looking at the 400 EMA on 1D.

The last time this line was last pierced from high above like this was on Feb 6, 2018. Bitcoin is waiting in the weeds for everyone to turn their nose up at it, and it will strike upwards once everyone has given up on it. Many shorts will be rekt, maybe people in Fiat or some shitcoin will be sad.

Needless to say this is a price we haven't seen for some time, so if there is worry about it dropping further simply divide your investment and plan to buy again if it dips.

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Double Bottom of 400 EMA?

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BTC Still respecting the 400 EMA 1D

Broke above the 300 EMA, now its bouncing up. I believe the 10 EMA will only cross the 200 EMA briefly.

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Bitcoin has been fighting all day and may be making some headway finally.

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On the 1D TF, Bitcoin remains supported by the 300 EMA:

On the 4 hours, we see the price as pierced the lower BB and withdrawn up from this; which we need to happen for upswing:

On the 1H we've pierced the lower BB and begun to resist:

The upward path is ready to go for Bitcoin, and I remain bullish, but we know Bitcoin has a mind of its own and whales are lurking...who knows whether a flash dip is in the cards followed by a rally, or if a rally is imminent.

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On the 1D TF we can see the last time we dipped this low on the RSI was during the December 2018 bottom:

However the December dip was stronger on the RSI, and you can see this on the 3D:

Either the bottom this time was not as pronounced, or we still have a ways to go.
A final look at the 12H shows a downward move for the RSI, but with very low volume:

I remain bullish, but am prepared to go lower!

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Well here is there we all get grey hairs isn't it? 300 EMA on the 1D TF has broken but the 400m EMA remains. All that is left to do now is wait...

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The 400 EMA held, and we've recovered back to the 300 EMA and are really bumping into the 10 EMA now. The original idea given here was the 10 EMA would turn back up and make a golden cross with the 20 EMA, and that is still in play.

However, we are dealing with Bitcoin; this could be a dead cat.

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Nice bounce on the 4H TF:

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We are still in play and want the 10 EMA on 1D TF to continue up and bounce the price up as this line crosses the 20 EMA.

Since we are dealing with Bitcoin, this could also be an epic dead cat bounce which would break many hearts, so be careful out there!

We need to break above the 20 EMA, and 200 EMA ($9,000). There will probably be minor correction first.

Either way enjoy the USD from this spurt...

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We may check the 1H TF and, in a bullish scenario, bounce off of support from the 10 EMA or 20 EMA.

Best scenario is to ride up on top of the 10 and 20 EMA and repeatedly bounce up to pierce the top Bollinger band (2 STDEV). This was more powerful than the last rally so it may come down further before going up, again assuming bull.

We are greatly overbought and had a large volume pulse, MACD points to moon...but remember to be safe with Bitcoin. :D

Hazel-Ra-Owsla

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Hazel-Ra-Owsla