Bitcoin Monthly & The Stock Market Crash

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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): スナップショット
  • 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: スナップショット



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
Dow Jones Industrial Can Go Lower (Trading Below EMA300)


S&P 500 Continues To Drop
The S&P 500 Index Goes Lower Today, Where To? How Low Can It Go?


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
スナップショット

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
スナップショット

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 Goes Higher? Bullish Potential Remains, $11000 or $7400?


Bitcoin Weekly Update
See it here:
Bitcoin Weekly (Chart Analysis & Update)


Wishing you a great weekend.

Namaste.
ノート
Remember our TOP 10 ALTCOINS for Long Term Profits article?

A new update has been shared here:
TOP 10 Strong Altcoins 4 LongTerm Bullish Potential @alanmasters



Also, TRON (TRXBTC & TRXM19) is back on the move... We are at 128.28% ROE (Profits collected) on our BitMEX trade... See it here:
TRON (TRXBTC and TRXM19) Gaining Bullish Momentum (%Profits)
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NAV Coin (NAVBTC) Is Getting Ready To Move
NAV Coin Long Term, 1710% to All-Time High (New Low Just Hit)
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[B]TRADES![/B]

Everex (EVXBTC)(236%) Trade
[EVXBTC](236%) Everex Back Within Buy Range, More Profits Next!


openANX (OAXBTC)(156%) Trade
[OAXBTC](156%) openANX Back At Buy-in, Trade Inside @alanmasters



[B]RESULTS![/B]
Skycoin (SKYBTC) +24.5% profits
Skycoin Bullish Chart Setup (Projected Path & Target)


NEO (NEOBTC) +9.7% profits
NEO Bullish Ascending Triangle, Getting Closer To Breakout!
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Looks like DENT (DENTBTC) is getting ready for action... Let's take a look at it here:
(Always READ) DENT Potential Impulse, Challenging Resistance Now
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Thanks a lot for the support.

All winners have been messaged privately...

Namaste.
ノート
This one looks like is about to make a move... KMDBTC:
Komodo Hits Demand Zone: Double Bottom + Bullish Divergence
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