The bitcoin (BTC) exchange rate is much better than the last few weeks, and it is in the range of from as low as $600, and that’s quite an unusual thing for Bitcoin. After a test of $9.900 hops, the price is back at $10,000 and looks like it is fairly stable.
At the time of this writing, the price of BTC is $10.153 on Bitfinex.
In the meantime, it is the triangle in which the price of the last few weeks to go, the narrower and narrower. A community-wide outbreak, however, seems to take a while.
We will continue this year and next year, within the lines, or when there was a big outbreak occur?
Bitcoin (BTC) analysis
All the indications are that over the next month, once again, quite a conceivable period of time that is for bitcoin. The downtrend resistance continues to be respected and let be the price of the current descending triangle is moving.
It’s good to see it on the chart and this also every skilled trader is viewed. This also makes it so predictable, that everyone is following the rules is good.
Part of the reason that it seems to have to do is going to take a while before we are out of the present was to come.
Bitcoin daily chart as of September 12, 2019 at the latest
A Whale-the action?
Unless there’s a major player out of the box thinking. And that’s what makes it still a very unpredictable market. Often everyone in the traffic rules is going to take you to see, often with a sudden movement.
The chance that this will be in the market today, is going to happen, and it is, therefore, also be acceptable.
But, when everyone is in a direction from the price, it is just more rewarding in order to make sure that the price that is just not going to do it and the mob is going to offer.
Or is that going to happen, it is impossible to predict, and therefore, caution is, as always, is very important.
If we take a look at the short-term, we can see in the 1h chart, is that Bitcoin is currently with the daily show’s open, try to break it (the little blue line).
Once it is broken, we may have a small increase expected in the direction of the $10.400, or perhaps later, and in the direction of the $10.800.
The Momentum indicators suggest that this is possible, but it seemed to have been quickly overextended to the touch. In the short term, there is a decrease is more likely.
Bitcoin 1h chart as of September 12, 2019 at the latest
A test of $9.900, it will most likely result in a major breakthrough, and a deeper decline towards the $9.600 and $9.400.
That is for the time being, the main supportlevels and it’s important to keep an eye out. For a chance of reversal is high.
If that doesn’t happen, the price can be more lower and make new lows outside of the triangle. A breakthrough to the bottom.
However, it looks like this is it for now, this is still not the case, and it is likely that the major support of $9,000 will continue. With a quiet ping-pong movement in the triangle is similar to the path that Bitcoin will be open to them.
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