Bitcoin Monthly & Why We Go Down Before Go Up!
Diupdate
Just recently I did an analysis on the Bitcoin monthly timeframe chart.
We looked at the TD Sequential indicator and how we always get a higher high on a positive 9 after the 8... This can be seen here:
I would like to look a bit deeper into the Bitcoin monthly candles and why we are likely to go down before more up... within the month. This is something that happens every time before.
First, you need to see/read the article above to have a better understanding of what we will be discussing here.
Bitcoin had a very strong monthly close. (A full green/bullish candle for Nov. 2020).
The monthly candle for Bitcoin closed at $19700 which is above the All-Time High (ATH) for the exchange we are looking at, in this case, BitStamp.
In summary, before I get into the details because I know many people don't like to read...
We go down first before we go up.
Nothing moves up in a straight line, not even in Bitcoin, so within the month, we would have "the first half as negative/red/down, the second half positive/green/up"... As a general rule if the bullish bias continues to be on top.
A new month is starting for Bitcoin (BTCUSD) and we immediately see red...
This is not bad nor something to worry about, this might mean that we get to correct in the first few weeks of the month, and then we end up with big green again, so... Relax... I can see some of the old analysts here on Trading View being happy and celebrating about their "free wait".
There is nothing free in waiting... Waiting is just waiting, we trade to get paid.
If you look back to October 2017, we also had a full green/bullish candle that closed at $6434.
The month that followed, a positive 9 on the TD sequential, first went down before going up.
Prices drop the next month, in this year Nov. 2017 to $5555.55, you get a 16% drop, but if you go on the weekly timeframe, you can see that this was only a negative week within the entire month.
After this negative week was done, prices continued to increase and the following month ended in a higher high, followed by a positive 1 which went even higher and this is what we are looking for again this month.
Since chart patterns and market cycles tend to repeat...
We wouldn't think of the market going bearish if we go as low as $16,548 for BTCUSD looking at it monthly...
But there is still more...
Prices have been trading above EMA10 since the MARCH low.
Bitcoin can go as low as $13,323 monthly in a matter of a few days or two weeks and bounce from this level and then continue to increase.
If prices break below EMA10 then we are done...
We can start to look at different scenarios and even say the bulls are losing control.
Right now we had the biggest trading volume in November 2020 since April...
The RSI is ultra-strong.
We have governments and institutions buying Bitcoin...
In the last bull-run, we were the ones pushing the prices up.
Even though we hit new highs there is still no FOMO feeling across the mainstream.
The next "stimulus package" is not out there yet but it will come and when it does... Guess what will happen?
You guessed it...
Bitcoin will continue to move higher... Because all those humans being that understand how money works, know that fiat is reducing their value so they need something where the supply is limited and their long-term value won't be lost.
We all love Gold but there is a new generation that only knows Social media, Smartphones and in this case, Cryptocurrency/Bitcoin is what they understand as the equivalent to Gold.
There are and can only be 21M Bitcoins...
We had the halving...
You can sell all you want...
You can "wait for free"...
But I am saving my Bitcoins for a 10 years period just as a backup...
As I trade altcoins if I am really looking to trade in order to generate money, in order to collect profits.
Why trade the king that it is so hard to predict when other cryptocurrencies are so easy to read and once they hit a new low, a bottom, they only tend to increase?
That's just me of course...
You might like it you might not...
Share in the comments section and I will reply with what I think...
Thanks a lot for your continued support.
Bitcoin monthly can first go down and by mid-December, you see prices clearly starting to increase.
So, do not be disappointed...
Do not let your emotions get in the way.
Build your plan/strategy before buying...
And let it play until the end.
This is Alan Masters.
Sending you INFINITE LOVE... NOW & ALWAYS!
Pure, shinning, blissful, joyful, motivating, inspiring LOVE!
Namaste.
We looked at the TD Sequential indicator and how we always get a higher high on a positive 9 after the 8... This can be seen here:
I would like to look a bit deeper into the Bitcoin monthly candles and why we are likely to go down before more up... within the month. This is something that happens every time before.
First, you need to see/read the article above to have a better understanding of what we will be discussing here.
Bitcoin had a very strong monthly close. (A full green/bullish candle for Nov. 2020).
The monthly candle for Bitcoin closed at $19700 which is above the All-Time High (ATH) for the exchange we are looking at, in this case, BitStamp.
In summary, before I get into the details because I know many people don't like to read...
We go down first before we go up.
Nothing moves up in a straight line, not even in Bitcoin, so within the month, we would have "the first half as negative/red/down, the second half positive/green/up"... As a general rule if the bullish bias continues to be on top.
A new month is starting for Bitcoin (BTCUSD) and we immediately see red...
This is not bad nor something to worry about, this might mean that we get to correct in the first few weeks of the month, and then we end up with big green again, so... Relax... I can see some of the old analysts here on Trading View being happy and celebrating about their "free wait".
There is nothing free in waiting... Waiting is just waiting, we trade to get paid.
If you look back to October 2017, we also had a full green/bullish candle that closed at $6434.
The month that followed, a positive 9 on the TD sequential, first went down before going up.
Prices drop the next month, in this year Nov. 2017 to $5555.55, you get a 16% drop, but if you go on the weekly timeframe, you can see that this was only a negative week within the entire month.
After this negative week was done, prices continued to increase and the following month ended in a higher high, followed by a positive 1 which went even higher and this is what we are looking for again this month.
Since chart patterns and market cycles tend to repeat...
We wouldn't think of the market going bearish if we go as low as $16,548 for BTCUSD looking at it monthly...
But there is still more...
Prices have been trading above EMA10 since the MARCH low.
Bitcoin can go as low as $13,323 monthly in a matter of a few days or two weeks and bounce from this level and then continue to increase.
If prices break below EMA10 then we are done...
We can start to look at different scenarios and even say the bulls are losing control.
Right now we had the biggest trading volume in November 2020 since April...
The RSI is ultra-strong.
We have governments and institutions buying Bitcoin...
In the last bull-run, we were the ones pushing the prices up.
Even though we hit new highs there is still no FOMO feeling across the mainstream.
The next "stimulus package" is not out there yet but it will come and when it does... Guess what will happen?
You guessed it...
Bitcoin will continue to move higher... Because all those humans being that understand how money works, know that fiat is reducing their value so they need something where the supply is limited and their long-term value won't be lost.
We all love Gold but there is a new generation that only knows Social media, Smartphones and in this case, Cryptocurrency/Bitcoin is what they understand as the equivalent to Gold.
There are and can only be 21M Bitcoins...
We had the halving...
You can sell all you want...
You can "wait for free"...
But I am saving my Bitcoins for a 10 years period just as a backup...
As I trade altcoins if I am really looking to trade in order to generate money, in order to collect profits.
Why trade the king that it is so hard to predict when other cryptocurrencies are so easy to read and once they hit a new low, a bottom, they only tend to increase?
That's just me of course...
You might like it you might not...
Share in the comments section and I will reply with what I think...
Thanks a lot for your continued support.
Bitcoin monthly can first go down and by mid-December, you see prices clearly starting to increase.
So, do not be disappointed...
Do not let your emotions get in the way.
Build your plan/strategy before buying...
And let it play until the end.
This is Alan Masters.
Sending you INFINITE LOVE... NOW & ALWAYS!
Pure, shinning, blissful, joyful, motivating, inspiring LOVE!
Namaste.
Catatan
Thanks a lot for the amazing support.By the request of many, I've analyzed XRPUSD and ETHUSD...
Enjoy!
ETHUSD
XRPUSD
🔝 Daily Cryptocurrency Technical Analysis
followalan.com
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lamatrades.com (Since 2017)
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alansantanatrades.com
followalan.com
🔥 PREMIUM Trade-Numbers (6-In-1 Offer Now Live!)
lamatrades.com (Since 2017)
🚨 Free PREMIUM Trade-Numbers
alansantanatrades.com
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