Cryptocurrency

Bitcoin price crash – $ 9,000 Support broken and now?

Before 2 weeks of jubilation among all the Crypto war Fans, large as Bitcoin, its 3. largest profit in its ten year history has recorded. In short: the Bitcoin price rose within 24 hours from 7,400$ 10,500$. After a phase of consolidation followed. Now, that’s what happened wanted to see the least. The BTC price has fallen below the threshold of US $ 9,000. How will it go further? Can win the bulls, the market or the bears push the price down further?

Bitcoin exchange rate in the Descending triangle?

Today, Friday, after weeks of indecision and Ping-Pong between a narrower range, the digital Gold seems to have made a decision about his direction of the hit. From the point of view of many of Hodler, the case is under the$ 9,000 in brand probably the wrong direction. Others are happy about the decline and use the opportunity to fill the bags. But at the time of the publication of the article, the Bitcoin price is ranked in 8.775 US-Dollar and is, therefore, within 24 hours, almost 4.5% in the Minus.Many traders seeing the Bitcoin price is now back again in a descending triangle. A Chart pattern with lower highs but the same lows. This pattern is clearly bearish and it should turn out to be true, it could go on with the Bitcoin price continues to be down. Here, the risk would threaten that we will see a multi-month Low.Trading on our brokers comparison-winning eToro. You are looking for a reliable and intuitive Broker to trade crypto-currencies, CFDs, shares, Forex, commodities and more? Then let yourself be in our eToro Test in 2019 all of the features explain, what possibilities are given to you here and where is here the Before – and disadvantages are . eToro Test 2019 read now.

Save the bull flag the bull market?

In spite of a possible Descending triangle, which is the hope for the Crypto is not lost the market yet. Because, as always, there are also opposing opinions. Some traders also another scenario possible. In short: soon, it could go with the Bitcoin exchange rate, thanks to a bull flag again to the top. The bull flag is a Chart Formation in which also lower highs, but also lower lows, before the course experienced a sudden Dump, and the cops capture the market back.In order for this scenario to be true, would have to find the Bitcoin exchange rate at the current Level of Support. Then he could take as the next goal of the 11,000 US-Dollar mark in attack. Due to the resulting higher High of the bull flag could cause even higher rates.Perhaps the bulls could win by this Transformation so much Power over the Bitcoin exchange rate, that is All-taken Time-High of about US $ 20,000 in attack. Only then can the bull market with 100 percent probability would be initiated again. At the moment it is, however, to be seen and to look, what Chart is true pattern. It could be very exciting and decisive for the next few months.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.