​BTC: the weekly close came in at 11470 on Bitstamp.

Closing back above that shooting star body and previous high is very significant. Also we managed to close slightly above 0.5 Fib for the first time!

💡Just by looking at the weekly chart we can conclude that it’s slightly bullish.

​Do or die for Litecoin

Weekly: LTC has been moving up inside that ascending channel and now it’s testing the support.

4h: LTC is trading in a tight range. This thing is going to explode. Which direction?

Here is something to consider:

👉 Death cross between 50 & 200 EMAs after a major rally.

⚠️ If this is followed by breakdown of the trend line, that is a very good sell setup.

🔥📉 Look at Litecoin, guys! Don't say you haven't been warned.

🎯 So, our LTC analysis worked out amazingly well. Just perfect!

We warned you about the death cross between EMA50 & EMA200. We mentioned that this thing was going to explode once the support breaks. And guess what: it dropped like a rock!

Look at that crazy wick to $71 on Kraken. On Bitstamp Litecoin only dropped to $102.

This idea was also published on Trading View:

https://www.tradingview.com/chart/LTCUSD/Ymu3L3Yk-Litecoin-Do-or-Die/

👉Press the play button and see how perfectly we called this move. Don't forget to give this idea a Like.

⚠️ Make sure you have already subscribed to our Trading View profile.

​Look at this: the long to short ratio is at the all-time high! Technically speaking, this grossly favors the bears.

However anything coming out of Bitfinex should be taken with a grain of salt.

​Not really much to say about Trump’s tweet.

Why would Trump speak positively about Bitcoin? It’s like why would the Fed speak positively about Bitcoin? It goes against their own currency, what they stand for.

So, Trump says what he is supposed to say and you should not expect anything different.

🔥But here is the most important thing: The president of the United States is tweeting about Bitcoin. This fact clearly indicates that Bitcoin has come very far.

⚠️ ETH/BTC is breaking down the Multi Year Support & this weekly close can be the lowest since March of 2017.

Also pay attention to that fractal marked with red & green arrows.

📌 Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it.

https://www.tradingview.com/chart/ETHBTC/Ff2OBCec-ETH-BTC-Looks-Horrendous/

​#BTC: No trade zone 11k-12k.

Breaking down the 11k has high chances to set us off on a huge downtrend towards 9k area. The only level where it can bounce before 9k is EMA200 on 4h timeframe.

❗️This week is coming to an end and as of right now it doesn't look good because of multiple long upper wicks. Closing the weekly above 12k is bullish.

#BTC 4h update

👉Look how beautifully EMA200 is holding the price once again. Yesterday we mentioned that once we go below 11k, target is 9k zone but the only if is EMA200. Watch if it bounces the price or not. If it does, we can make it back to the breakdown level (11k).

The way it looks like right now is slightly bullish, because we had a significant fall and right now working on a reversal candle at resistance.

So, EMA200 didn't hold the price and we dipped to 9850 pretty quickly.

Pay attention to the descending channel. If we break out of it to the upside, the area of the breakdown at 11k should be tested. Also don't forget about open gan on the CME Futures (11-11.5k).

9k area target

BTC 4h update

So like we expected, BTC touched the breakdown level of 11k. There we got rejected and now are heading towards our 9k target.

BTC 4h update

🎯 Our initial target of 9k reached and look where we bounced - at the support of the channel! Pay attention to how this descending channel has been working perfectly. Just amazing. So, keep an eye on the channel resistance when we get there. It might reject the price again.

⚠️ One more thing to watch here is the upcoming death cross between 50EMA & 200EMA.

Parabolic Growth is Always a Concern. Especially in Bitcoin!

👇This is definitely something to be aware of

https://www.tradingview.com/chart/BLX/si1CtvJb-Parabolic-Growth-is-Always-a-Concern-Especially-in-Bitcoin/

❗️Don't forget to subscribe to our Trading View profile & hit the like button. We would appreciate it.

📰🇨🇳 Bitcoin status is “legal” in China: Hangzhou court approves BTC ownership.

Chinese court upholds Bitcoin’s status as “virtual property.” The ruling reaffirms that Bitcoin is legal to own in China and indicates to holders that they will be protected by the country’s legal system in disputes.

​Bitcoin is in the stealth phase of its bull run. Usually public interest do not pick up until the previous all-time high has been smashed.

🎯So, we are going to have a “boring” period until reaching 20k.

​#BTC: There’s something to watch on the 4h

Look at how BTC is shy of getting a death cross between 50 EMA & 200 EMA. If the 4h fails to get a death cross, that will be a pretty bullish sign.

BTC is slightly bullish short term as long as the price stays above the 200 EMA on a closing basis.

👉Once it breaks down, we will accelerate to the downside and finally get the death cross.

​⌛️The week is coming to an end & if the candle closes the way it looks like right now, technically it’s bullish because we are staying above the 7-Week MA & the trendline with a pretty long wick below it.

This weekly close is definitely something to keep an eye on!