The title says it all, let's take a look at the details:
"A bullish engulfing pattern occurs in the candlestick chart of a security/asset/coin when a large white/green candlestick fully engulfs the smaller black/red candlestick from the period before. This pattern usually occurs during a down trend and is thought to signal the beginning of a bullish trend [...]"
Bitcoin bears tried to breakdown the ~$5800 price level many times but with no success. Afterwards, we got this bullish engulfing candlestick formation, which is a bullish signal. We also have very strong bullish divergence on the MACD as well as a bullish crossover.
I will be sharing more details soon, but expect some additional positive movement from Bitcoin in the days to follow.
My "ideas" are always based on the long term view of Bitcoin, as I don't mind the short term and I am called the Eternal Bitcoin Bull... Because I love Bitcoin. :)
Thanks a lot for reading, and expect more from me very soon.
Please like, share, follow and comment.
With lots of love... I LOVE YOU...
Alan Masters!
Namaste.
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The 4H time frame chart is looking beautiful. Candle is yet to close, but we are trading above EMA50 and EMA100. This is good...
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Another short term bullish signal on the 1h chart, a similar signal can be spotted on the 2h chart... based on these signals, Bitcoin will continue its climb up!
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I am seeing additional bullish signals developing on all time frames, but they need some time to develop.
We are now above EMA100 on the 4h chart. We haven't traded above this line, strong blue, since early May.
- The MACD has also entered the bullish. The bulls only need to maintain their position and add a little more momentum and we will continue our climb up.
Here is the chart:
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A closer look at the 4 hours chart:
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Today Bitcoins monthly candle closes and tomorrow the weekly. These are very important to confirm if Bitcoin will continue its climb up.
Please allow time for this to happen and we will see where we are at on Monday.
Still, it is good to see a positive weekend for a change and some bullish momentum hitting the market.
We definitely want more...
Namaste.
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Let me know what you think about the signal described in the idea below:
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I am seeing several bullish signals developing... Some that might affect Bitcoins price in a positive in the short term (1-2 days).
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Trading day/week is closing soon... I believe we will go up in the short term (days/weeks ahead). We will see how it goes.
Hi, BTC is not going to the moon, in fact is the opposite, i can't believe how many of top trader in tradingview make a mix between desires and TA, it was a pump did for the exchange to close short position that it all.
Weekly and monthly chart are strong bearish we will bearish market at least until 2019 summer, the only good call is short, short when you see a big green candle, when the RSI in 1 hours timeframe reach out 70, open a short and close it when RSI reach out 30.
Please don't post this kind of TA because your followers can to loss a lot of money..
If somebody read this think about it:
- MACD in monthly chart crossed down.
- RSI in the weekly chart in falling and not reach oversold level yet
- Daily chart is bellow the Ichimoku cloud.
- We broke the main trends at 7k.
- Nobody with big capital is trading bitcoin right now cause they know that 3k level will be reach out soon or later.
- If you see that "the pump" started and finished at the same time in all exchange considerer this signal as smart move to close short position.
- Think about market circle, this month — june — the bear market started. Do you really think that bear season will be finish just in a month?
Bitcoin was 2 years in bull market, it time to bear one, and don't worry about that is a good opportunity to plus satoshis in your bag. Just short after a big green candle.
AlanSantana
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@Aaron18, It depends if you are talking short term, mid term, long term, etc.
My view is long term. Short term we are moving up, mid term it can go down but then still bounce up and long term we are going up... In my opinion... In the end, it is for the market to decide where Bitcoin will go. And that my friend, is the big question mark.
If you, or I, or anyone could know for sure... Then this whole Trading View thing would be a complete waste of time as we would all just follow your accurate non failing prediction and go by that rather than trying to figure out what the charts are saying.
I appreciate your comment and you taking the time to share your point of view with us.
My trade idea, is my point of view...
Namaste.
Aaron18
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@alanmasters, aahhh of course in the long term my life goal is make 50 BTC because it will worth 100k easily, but the only way i have to do that is making profitable trades, the reason why i'm in short with open price 6530 in bitmex exchange and target 6k again, stop loss 6700.
@Aaron18, Dude you are like a permabear. Yes it is a bear market right now, but you are mistaken big guys already accumulated again from 5700 so it is not easy to drop any further down at this moment. I believe 5K is the real bottom that this market will see this summer.
Weekly and monthly chart are strong bearish we will bearish market at least until 2019 summer, the only good call is short, short when you see a big green candle, when the RSI in 1 hours timeframe reach out 70, open a short and close it when RSI reach out 30.
Please don't post this kind of TA because your followers can to loss a lot of money..
If somebody read this think about it:
- MACD in monthly chart crossed down.
- RSI in the weekly chart in falling and not reach oversold level yet
- Daily chart is bellow the Ichimoku cloud.
- We broke the main trends at 7k.
- Nobody with big capital is trading bitcoin right now cause they know that 3k level will be reach out soon or later.
- If you see that "the pump" started and finished at the same time in all exchange considerer this signal as smart move to close short position.
- Think about market circle, this month — june — the bear market started. Do you really think that bear season will be finish just in a month?
Bitcoin was 2 years in bull market, it time to bear one, and don't worry about that is a good opportunity to plus satoshis in your bag. Just short after a big green candle.