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BITCOIN – Short-term(!!) Bullish?!

Bitcoin - short-term(!! ) bullish?!

BITCOIN – Short-term(!!) Bullish?!

Bitcoin - short-term(!! ) bullish?!

Hey, here is my short update!

Today we could see probably a slightly bullish bitcoin . We are below the counter trendline which is not a good sign but we didn’t get a continuation leg down after the yesterday’s counter trendline break which should be a good sign. Actually, from the current market situation, this is a pretty rare case that we didn’t get any volume from sellers after the bearish close below the mentioned trendline . Yesterday’s candle close was the lowest candle close in this year but luckily there are not so much selling pressure, At The Moment!

Altcoins are slowly climbing upwards and probably this is the biggest indication that we might see a pump at least into the round number area at $3,500 or to the red line which is the strong resistance area $3,628. Confirmation comes after the 1H candle close above the major counter trendline which will indicate that then we are back in the “safe zone”. On the early morning, we made a breakout above from the smaller counter trendline .

So, a 1H candle close above the major counter trendline will confirm short-term bullishness, criteria:
1. Back above the major counter trendline/up-trendline
2. We made a breakout above the smaller counter trendline which is down trendline and it was pretty strong resistance line!
3. If the 1H candle gets a close above the major trendline then the EMA 8 & 21 golden cross will confirm short-term bullish momentum.
4. Altcoins are on the daily green ( + side)

If this scenario starts to show some bearish price action criteria (bounce back from current retest area, bearish candlestick patterns etc.) then I will say it on the update section below the idea post!

Please, don’t forget to LIKE, COMMENT & FOLLOW!
Thank You for your support, I really appreciate it!

Have a nice day!
All the best!

*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!

Published at Wed, 12 Dec 2018 07:27:42 +0000

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Bitcoin Price Watch; Closing Out The Week

We are closing in on the end of a week that’s going to be remembered for some time by many in the bitcoin space. The bitcoin price broke through the $10,000 level – a level that many claimed it would never reach – and topped out above $11,000 before quickly falling back below the major threshold. Since then, we’ve had a degree of instability, with participants on both sides of the market seemingly unsure as to what happens next. There’s a strong chance we’ll see a return to the overarching upside momentum, of course, but how deep the current correction will go remains to be seen.

As we always say, however, whatever happens, we’re going to be on top of the markets with our short-term efforts.

So, with this all noted, let’s get some levels in place that we can use to try and draw a profit from the markets as and when things move. As ever, take a quick look at the chart below before we get started so as to get an idea where things stand and where we are looking to get in and out on any volatility. It’s a one-minute candlestick chart and it’s got our range overlaid in green.

As the chart shows, the range we are looking at for the session comes in as defined by support to the downside at 10438 and resistance to the upside at 10618. Standard breakout rules apply for the session, so we’ll be looking at jumping in long on a break above resistance towards an immediate upside target of 10680. Conversely, if price breaks below support, we’ll get into a short entry and target a downside level of 10380. Stops on both positions (somewhere around $15 or $20 the other side of the entry) will help ensure we are taken out of the trades if things turn against us.

Let’s see what happens.

Charts courtesy of Trading View

The post Bitcoin Price Watch; Closing Out The Week appeared first on NEWSBTC.

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