What's Up Bitcoin? $10.4K or $8.6K? Where Is My Stop-Loss?

Updated

Bitcoin (BTCUSD) woke up bullish Wednesday and prices are starting to move up, this opens us up for a few questions like...

But, what happens next with Bitcoin?
We continue expecting a drop or we will now go bullish?
Where is my stop-loss?
- 1) We are still looking at a lower high based on the candles wick but we have a higher high based on candle close... This is a bullish signal when you look at the candle close.
  
  While a higher high is visible on the 4H timeframe, the MACD had a lower high on all fronts, marking bearish divergence and signaling that this wave is almost over.
  
  We rode this wave from ~$6250 all the way to ~$9200, that is why are wary of an upcoming drop, it is normal after strong growth.
  
  We have BTCUSD trading still below the last peak at $9485.
  If this level is taken out, we can see Bitcoin jump and hit up to ~$10,400+.
  
  If prices CAN'T move above $9485, we remain open to see prices easily dropping anytime.
  
  2) If prices break below EMA10, we expect a drop to EMA50 or $8675. If EMA50 is tested again we are likely to go lower and hit $8234.
  
  3) We are active with a trade for XBTUSD and this is a short. We are using a manual stop-loss on a daily close above $9500... This is not financial advice.
  
  Thanks a lot for your amazing and continued support.
  
  This is Alan Masters.
  
  Namaste.

Note

BTCUSD (4H) Bearish divergence with MACD

snapshot

BTCUSD (4H) Bearish divergence with RSI

snapshot

Note

New update for Bitcoin?
Leave a comment if you want one.

Namaste.

Note

Consider the following scenario...

Will Bitcoin Hit $15,000 Before Halving? Comments ...

Will Bitcoin Hit $15,000 Before Halving? Comments ...

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