Cryptocurrency

Bitcoin rate in a hot Phase

Welcome to our current Bitcoin exchange rate analysis. Today I have prepared a very special issue for you. Boredom does not come here, because currently we are really in an extremely hot Phase for the Bitcoin exchange rate. Things are coming to a head, as they say. Therefore, this Bitcoin exchange rate analysis could be shown to be the most important thing for the next few weeks, as it will allow you, the Trend for the next 2 months in the history of the Bitcoin price in advance.
It will give the Bitcoin Halving a upward rally up to 18,000 USD? Or a further slump in prices before us once up to 6,700 USD?
The answers to these questions and more you can find out here and now. It is so exciting! A lot of fun at our Bitcoin price analysis.
Please note: None of this articles listed is to Formulate in any way the trading recommendations. This and the following article are solely for the exchange of information with our readership. Neither crypto Monday nor the author of this text shall be liable for any loss incurred as a result of the trading decisions of our readers. DYOR!

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Bitcoin exchange rate recovers, however, muddies the ticket?

The Bitcoin price seems to have settled after the initial shock, gathered again. This week he surprised many investors, in each case, again with green Numbers and has been able to grow nearly 10 percent in the price. Thanks to the 50 MA-Weekly, which could slow down the rapid course of the case of Bitcoin, at least for the time being. It remains to be seen, of course, whether this Support will be sufficient to ensure that the upward trend will continue.

Before we sum up from the last few weeks, what are the reasons for a bullish bias talk, let’s look at but before that, what is the Bitcoin exchange rate currently has.
Currently the Bitcoin price is quoted around 9.149 USD and is struggling with the resistance line at approx. 9.150 USD. As we can see, could the bolts of the Bitcoin exchange rate to back over the 200 MA line on the Daily Chart, and this again as a Support to establish. This is definitely a good sign. The short-term slump among these, from the end of last week’s shows, however, that the upward trend of the Bitcoin course currently runs as stable as the one or the other would want.
This is the risk that within the next few days with a Head-Shoulders-Formation (the HS-Formation) could be forming on the Daily Chart, also speaks.

Is a price slump to 6,700 USD?

When we Chart of Bitcoin’s take a look at the Daily, the current risk very clear. May be we are just going to the right shoulder of the HS-Formation to form what would be, at least in the short term, a very lot of bids due soon Signal.

The HS-Formation is considered to be very reliable trend reversal pattern and could lead to the Bitcoin breaks the course up to the Bitcoin Halving Event only once. Therefore, it is important to observe the development of the Bitcoin price within the next few days carefully. Should not create the Bitcoin exchange rate, it is in fact, the shoulder line and, of course, the 50 MA Daily to break through, this could be the first indication that the HS-Formation to fully develop, and thus likely to be a short-term trend reversal will take.
The course objective will be measured by the distance between the head of the Formation, and the Neck-Line, so the neck line. It is the height of the Formation, which is projected to the breakout point on the neck line, to calculate the target price. You do this in the current Formation, it results in a price target of about 6.700$ that we could reach before the Bitcoin Halving in may. Of course only the case that the Formation is formed as described above is also really complete.

The bullish outcome of the Whole

It’s not necessary to the above-described scenario, it is of course inevitable. For example, I have already spoken in my Bitcoin price analysis from last week on the theory of the Chart analysts, in which he compares the current price history of Bitcoin from the last Bitcoin Halving.

The last Time the Bitcoin price in the 6 weeks prior to the Bitcoin Halving the price rise in may reported by 80 per cent. Two weeks prior to the Halving, but then a correction, and the Bitcoin price fell back to 40 percent. If history repeats itself, then that would mean according to this theory, that we experience before the Bitcoin Halving an upward rally to $ 18,000 by the end of April, before the Bitcoin exchange rate runs in the following months, a stronger correction.
This theory is also the fact that it does not have to be necessarily a HS-Formation talks. This may be only the handle of a much larger Cup & Handle Formation, which is bullish breakout. This is a scenario I have in my Bitcoin price analysis Why is the Bitcoin rate so bullish like never before and we may still experience 600 days Bullrun in Detail. There, I’ll also have the Golden Bull Cicle Ratio theory be incorporated, after which we still have just under 600 days of the upward trend in front of us.
For interested Trader, but also convinced BTC Hodler, it is important to deal with both scenarios and to understand this. You have to also understand that we are currently in a very hot Phase of the market, it’s literally rocket stick could go up or dive down. If you, however, manage to interpret the signs correctly and to classify it, you can position yourself in time according to the market. Because the decision about the direction of the price curve of Bitcoin is expected to be taken within the next few days.
Do you want to position in time on the market?
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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.