Bitcoin (XBT) Low (Bounce)

I think we are going to bounce here with the last candle hitting a low point (MA200) black line.

We can move up again from this point on.

A close below MA200 invalidates this signal.

Thanks a lot for reading.

Namaste.

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XBT Trendline:

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Big market cap. altcoins are also bouncing such as Bitcoin Cash (ABC) and Ethereum (ETH). It looks pretty good so far.

ETHUSD Daily (Highest volume on BitMEX).

BCHBTC (Bittrex)

BTCUSD (BitFinex)

- Look at the volume, it is good today.
- The RSI remains strong.

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From @bitcoinbobby (One of our great readers)

"BTC hit RSI 30 for the first time and what happened? Rebounded nicely off of it with a huge green weekly candle. We're following that up with another green candle. This is the beginning signs of a bottom. I have highlighted a BTC defense zone which we need to hold. If the unlikely event we do break below 3k, which I doubt based on what I see on the daily timeframe , you will notice the highlighted buy zone. It's a wide range, but that's what it is based on past support zones.

Capitulation already happened. Retail investors have given up. outdated miners are dead. Only people left are the strong! This was when BTC broke through the 6k bottom and fell to 3k. FUD and short sellers are calling for a lower BTC but this is no different from BTC bulls buying and mortgaging their homes to buy at 19k. Short sellers have gotten way too risky and confident leveraging up to 100x. Within the next month we're going to see a huge short squeeze and the market is just waiting or a catalyst...what could this catalyst be?

This catalyst is Baakt, which is expected to launch Jan 29th. physical delivered futures and more importantly institutional grade custody by sister company NYSE. I'm looking forward to these daily futures as a hedging instrument.

The market timing is actually amazing. Global growth and stock prices are headed down. Trade wars on the rise. Geo-political risks across all industrial economies seems unrelenting. Global investors will invest more capital into the crypto-market as a hedge. More money will pour obviously into Gold , but we will being in Q2 2019 institutions begin dipping their toes into the King of Digital Gold ( BTC ). So this V bottom recovery is highly plausible and sustainable to 6k levels again soon. From there we continue higher testing new levels of resistance."

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8H (480) Time Frame. A different view.

Here you can appreciate how healthy the recent retrace is:

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We have a strong drop for Bitcoin (XBT), price stopped exactly at EMA10 (green line).

We remain bullish as long as price remains above his line on the daily time frame.

I will keep an eye on the charts and keep you updated.

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EMA10 is being challenged now again as support. It needs to hold or it can get ugly.

Next support around $3630

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On the way up, if $3838 can be broken we move $3950 followed by $4000.

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This might be the end on the retrace.

Our next support was sitting at $3630, Bitcoin went as far down as $3677.

After this, I am seeing the first bounce with momentum. If XBT can keep the momentum, the up move can be resumed: