Long

Updated

Bitcoin Bounces Strong - $7,200 Now Easy Target!

Bitcoin confirms its higher low with a very strong bounce, now going above $6,700 and testing the same trendline which has rejected its growth over and over again.

We are now looking to break and close above this trendline (red dotted) on the daily time frame to confirm our bullish bias. Bitcoin bounced just as expected, with force and contrary to what most people believed it would do... as usual.

BTCUSD is moving with really good momentum and we can expect additional bullish action.

Here are our support and resistance levels:

Support:
(1) $6500
(2) $6350
(3) $6280

Resistance:
(2) $6900-$7000
(3) $7200

Thanks a lot for reading and your continued support.

Please like, share, comment and follow for more updates and trades.

Namaste.

Note

You can get my previous analysis here (we've been doing good lately...):

I Read Only The Titile: $9,200 Bitcoin (BTCUSD) Coming Next?

Note

We are fighting with that trendline... And we have the Fib. support, take a look at the chart:

Note

I didn't realized that last candle was the daily close.

We had a really good day for Bitcoin, we moved up as expected. We are now facing strong resistance but if we can keep up the momentum we have some pretty good days ahead.

Here is the daily chart:

- Volume is lacking. The push up seems a bit forced but here we are... You never know these things can surprise you at any given time.

- We will be looking a short term/small retrace with consolidation to try another push up.

- We will work with $6640 and $6550+ as main support levels short term. The rest is written up there.

Thanks a lot for reading again.

Your support is highly appreciated.

Please visit my profile, other trades and hit like, share, comment and follow.

Namaste.

Note

We are getting away from the old trendline and now touched $6800 already.

Here are several views:

- Bullish crossover of EMA10 and EMA200.

- So far looking good. Volume building up...

Note

Bitcoin goes stronger... We have another trendline in play (we need to break $6840 for additional strength - volume is building up more and good):

We got this...

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The trendline was too much and Bitcoin back off, you can see support on chart (trendlines):

Note

Volatility is increasing, which is a good signal at this point. It means that balance is being lost, a breakout will happen soon...

Note

Take a quick look at some of our latest altcoins trades... your support is highly appreciated:

RDDBTC:

[RDDBTC] ReddCoin Money Fractal [500%+ PP]

BATBTC:

LTCBTC:

Note

The bulls showed strength on the last 4 hours candle. They were able to sustain the drop and regain vale...

I believe that volatility will continue to increase.

Note

There is strength on this red candle. We are now sitting above EMA50, EMA100 and Fib. support @ $6550.

- Next we have our trendline followed by $6480.
- Volatility is indeed increasing as expected.
- Enjoy the ride...

Note

The Bitcoin bulls keep on fighting back with strength. Look at the long wick on the last candled that closed on the chart below... Also notice that we went back above the trend but just right below the Fib. resistance.

- So far the bulls have been really good at resisting the bear pressure. We can look for a higher low higher...

Note

And the daily candle closes. We are getting closer to our breakout spot, price action getting compressed...

Note

Trading now remains within a narrow range.

Our main support is now sitting at $6470.
Short term we have $6550.

Our resistance is at $6600.
Next resistance is at $6680 followed by $6800.

Bitcoin will be going up soon...

Note

It is going to go higher...

Great results for our altcoins trades, in just 1-2 days, see the profits:

RDDBTC: Over 100% profits.
PIVXBTC: Over 58% profits.

You can check my profile to find these trades.

Your support is highly appreciated.

Namaste.

Note

We have a nice flag building up on the daily time frame.
Large wicks going to both sides... We will have a big move within a matter of days...

Note

We are now back above a major trendline, Bitcoin's price drops each time it breaks this line... Let's see how it goes this time. Here is the chart, take a look:

Note

This is what I've been looking at. This pattern is also available on the daily time frame... This is a bullish pattern; Ascending triangle:

Note

You can follow my next Bitcoin update here:

Bitcoin Remains Bullish (Ascending Triangle Pattern) + Altcoins

Thanks for the support.

Note

Bitcoin strong support marked by EMA100 (dark blue line) on the weekly time frame.

MasterAnanda

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