After a day of fireworks, moving, bitcoin is once again a little quieter. Or the price is right on for a great cause? Calm before the storm, it sounds like a cliché to say it, but bitcoin does that is usually not mentioned at all. What can we do over the next few days bring?
The triangle brings bitcoin to the 11.500 dollar,
You’ll look below, the bitcoin price is expressed in us dollars. Every candle on the chart represents four hours.
At this moment in time to move the bitcoin price is in a triangle shape. Break down the price of the top end off? It is the target of the same size as the opening of the triangle on the left-hand side. In this case, it means that it is 11.500 dollars (10.500 euro) is possible in the next couple of days.
A downside breakout means that the price will be back to be lowered in the direction of 8.600 usd (7.860 million). This is consistent with the lower price of a single bitcoin at the start of this month.
The Golden cross is a true fact
But whether or not the price will go down is the question. At this time it is the golden cross on the bitcoingrafiek namely, a permanent fact of life. You can see in the chart below, in return. Every candle on the chart represents one day. You’re looking for the price of the march 2019 up to and including today.
The red line on the chart is a moving average of past 50 days, which is the 50-day Moving Average. The green line is the 200-day Moving Average.
Rise of the red line is above green line, this is called a golden cross. And it’s usually a good sign for the long-term. This means that bitcoin is in a rising trend.
In order to understand it we may be able to be the best time to zoom in on the graph. Each of the large sets is still a day for you, but you look at pretty much all of the history of the bitcoinkoers. In the summer of 2010 through to the present day.
Too small for you? Click on the chart to enlarge it.
Generally speaking, it is that simple. The red line is above the green line? Then there is the issue of a bull market, a period in which the price long term increase. When the red line is below the green line, is, then, to talk of a bear market. In this period of time to decrease the prices even more.
When the 50-day Moving Average for an extended period of time above the 200-day Moving Average, then it may just be that bitcoin is now at a new bull market has begun.
Bitcoin rubs against the trend
In addition to the golden cross, there is something exciting going on. For a while, rubs bitcoin for a long, long downward trend with.
In this line, we draw it from the top of the end of 2017, to the tops of 2019 at the latest. In February, he managed bitcoin is the line to get in, but the outbreak of the corona virus, threw a spanner in the works. Just for the bitcoin halving failed, will try again.
It Is three times a charm? That’s another positive sign that a new bull market has begun.
What do we expect from the bitcoin price?
We focus again on the chart. You have to look at the bitcoinkoers from the beginning of the year through to the present day. Every candle on the chart represents four hours. As always, we will have two scenarios for you: a positive (bullish) or negative (bearish).
Breaks down bitcoin out of the triangle? It is $ 10,500 (9.595 euros), an important resistance level, which is the highest price of the year so far. The target price of the triangle is similar to the one discussed 11.50 usd (10.490 euros)
If the stock price falls, it is to 8,500, the $ 7.760 euro) to the main support. This is the red bar on the graph. In the beginning of may, jumped the price up to this value.