Hello my fellow Cryptocurrency lover, let's take a look at Bitcoin now on the monthly time frame and also how the recent drop in the stock market can affect its price.
So please hit like now to show your support and allow me to entertain you for a few minutes...
Bitcoin Monthly Candles
Here we have Bitcoin on the monthly time frame and we want to keep it simple and simple it is:
First we have Bitcoin trading above EMA10 for the first time since May 2018. Last year Bitcoin broke below EMA10 on this same month, now it is moving above it, changing the growth potential from bearish (negative) to bullish (positive).
Really good volume on CoinBase, the biggest volume bar we've seen since February 2018. There have only been more volume in November and December 2017, when Bitcoin had its bull run.
The MACD looks good and allows for more growth, consolidation might be necessary but you never know how things are going to play out, keep reading below and you'll understand what I am talking about (stock market):
The RSI is strong at 60.78 and it shows plenty of room available for growth. Bitcoin's RSI has been seen as high as 96.32. Here is the chart:
Confidence Drops In The Stock Market
Let's take a look at the Dow Jones Industrial Average and the S&P 500 index in relation to Bitcoin and what effect on it its crash can have.
First, let's take a look at these charts, we can see both the DJI and SPX going down and gaining momentum, check below:
Dow Jones Industrial (DJI) Gaining Down Momentum
S&P 500 Continues To Drop
Both these indexes found a low on December 2018, together with Bitcoin, and they were fast to start moving back up reaching a peak on May 1st, 2019, see here the charts:
The SPX peaked and the DJI was already falling on May 1st
On the other hand, May 1st, 2019 Bitcoin started a massive run that increased its value by as much as 70.83%.
Bitcoin Accelerates May 1st
If the stock market continues going lower as the charts are saying and this same pattern repeats, we ought to see Bitcoin go much higher, in fact, we might be looking at money flying from the stock market to Bitcoin. Not because Bitcoin is a "safe haven" or great technology, maybe just to protect the value of their money in something that has a future... And, because Bitcoin can be their safe haven and it also is a new idea for money and has great technology.
Thanks a lot for reading.
Namaste.
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For Bitcoin's support and resistance levels as well as the daily and weekly time frames updates, visit the charts below:
Bitcoin Can Go Higher, What Comes Next $11,000 or $7,400? Read it here:
Bitcoin Weekly Update See it here:
Wishing you a great weekend.
Namaste.
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Remember our TOP 10 ALTCOINS for Long Term Profits article?
A new update has been shared here:
Also, TRON (TRXBTC & TRXM19) is back on the move... We are at 128.28% ROE (Profits collected) on our BitMEX trade... See it here:
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NAV Coin (NAVBTC) Is Getting Ready To Move
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[B]TRADES![/B]
Everex (EVXBTC)(236%) Trade
openANX (OAXBTC)(156%) Trade
[B]RESULTS![/B] Skycoin (SKYBTC) +24.5% profits
NEO (NEOBTC) +9.7% profits
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Looks like DENT (DENTBTC) is getting ready for action... Let's take a look at it here:
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Thanks a lot for the support.
All winners have been messaged privately...
Namaste.
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This one looks like is about to make a move... KMDBTC:
Alan, as always, THANK YOU for sharing your wisdom and insight. Following you on Trading View and Telegram has really helped me remove emotion and set aside FOMO. What will be, will be. You have helped me approach Alt Coin trading from a far more patient place. I was never able to accept a stop loss, until your messages helped me embrace the things I can not change. Your positive approach has helped me realize I deserve so much more time and energy for myself. This transcends trading and is contributing positive blessings and vibrations into all of my life. In turn I am doing my best to share this wonderful energy with everyone I can. My family and friends are EXTREMELY GRATEFUL! Please keep up the great work, and keep the love coming. Namaste.
AlanSantana
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@cryptowar, Thanks a lot for sharing, truly appreciated.
You are one of the winners. Sent you a message.
Thanks a lot for the support.
Namaste.
DiskoChuk
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--snip
A Zen master told me, “Do the opposite of what I tell you."
So I didn’t.
--snip
I've been a big fan of you're TA for a while, but something I appreciate almost as much are the msgs of positivity and random =)'s.
Keep up the good work sir
AlanSantana
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@DiskoChuk, Truly appreciated, thanks for sharing.
AlanSantana
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"Dear Alan Masters:
Thanks for being you.
Thanks for your support.
Thanks for your phrase that awake our body, mind, and soul.
Thanks for the help, every day in your trades.
Thanks for the guide, that comes every time you make an update.
Thanks for the effort, that you put for us to grow our pocket.
Thanks for the future you prepared for us to rock it.
Thanks. Thanks. Thanks.
I'm really grateful for being part of your platform.
I appreciate always your kind word.
No matter the time you spend to write a phrase because when you do it, you make our heart dance.
Meditate can be hard if you don't calm your mind, but thanks to your guide I can relax, concentrate and breath until my heart is quiet.
I've been growing with your guide for many years in a row. Thanks for open up my Anahata space, wishing to share it with the entire world.
Namasté.
P. S. Mi amor...¡¡¡TE AMO!!!
Thanks for your wonderful energy and high vibrations, we really appreciate it.
Candy Masters"
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One of our supporters that can't comment.
Thanks a lot for the support.
ReallyMe
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FWIW, I do not think that BTC lives and develops in a parallel financial universe, independent of the rest, and simply continues to grow strongly, while the financial markets continue to plunge into new depths.
As the cash supply becomes scarcer, the market capitalization of the cryptos may shrink.
I guess, the question will be, where do the people, who move a lot of money and want to get most and safe returns in the process flee to? Such people as pension and investment fund managers...
Do they flee just to the safe haven of Gold, which has been safe for centuries, or do they also flee into such volatile and unpredictable asset as crypto?
I don't think the answer is going to be that clear.
Over time they are very likely to fly into crypto... Some people will take longer than others, but we believe this is where the future of money is.
upeightone
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The amount of time and energy you put in all these analyses is truly amazing, you can see and feel that you‘re not just doing this for likes or fame. You are living what you‘re giving and the „mantras“ you‘re spreading in between helped me through a lot of hard times in both trading and personal life! Thanks mate! Namaste
AlanSantana
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@upeightone, Thanks a lot for the support, truly appreciated. Your words are motivation for me to continue growing.
Namaste.
HanTheGibsonSlayer
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Unfortunately can't make enough time everyday, still enjoying all your work Alan, thanks :-)!