For the third time in February, dipte bitcoin is under $ 10,000 (9.250 million). Bitcoin does it in the least bit scary! At this point, seems to be the course of rest to be found on a capacity of 9,500, the $ 8.800 million). But it remains the case that really the case?
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Support is found on a 9.500 dollar,
For the next few days, it is very important that the price support continues to be found on a capacity of 9,500, the $ 8.800 million). We’ve often talked about it, but in the chart below, you can see that this is a very strong level.
Continue in the direction of support, then we can set our eyes on the $ 10,500 (9.700 million), the highest of the year.
In the long term it is good for the price
If we’re all the way out, then it will still be good. That’s what we see when we look at the tried and tested ‘ Multiple look at. This indicator was developed by investor Trace Mayer.
She came up with this indicator, on the basis of the 200-day Moving Average (MA). That is, the moving average of the last two hundred days. The top chart below, you can see, the average of the blue line.
The tried and tested Multiple, can be seen at the bottom of that page, you can calculate the bitcoin price will be divided by the value of the 200-day MA at that time. You will end up in a relationship, the number 1 means that, for example, the 200-day MA is an exact copy of the current price. A value of 1.5 means that the stock price is 1.5 times as high as the 200-day MA.
Analysts use the 200-day MA in order to determine whether or not there is evidence of a bull market. As for the price once it is higher than the overall average, the rate is usually for a longer period of time to increase.
In addition, She found that if the aspect ratio is 2.4, a major correction is on the red line at the bottom of that page).
And it is a lot bigger than a 2.4, then it’s going to be a bubble, and the stock price takes a lot of time to recover. The last time it was at the end of december 2017, when bitcoin is up almost $ 20,000 aantikte. At that point, it was However Multiple to 3.71.
It is, therefore, a good indicator to keep an eye on how you are doing with the course!
So, what can we expect from the course?
This week’s lap of the race with a seven-percent and then seven percent. It’s hard to say where the price in the next few days will go. We did not go deep enough into the glass of the watch, so here we have two possible scenarios. May the odds be ever in your favor.
Bullish
Continue in the direction of support be found on a capacity of 9,500, the $ 8.800 euro)? It is $ 10,500 (9.700 euros) might be of interest in order to keep an eye on. Then and only then, can we take the party to run for bitcoin!
In the chart below, the price you see is the RSI. This gives you the momentum of the share price.
A high value indicates that the price might be hard to increase, there is a fix. But now, with the value of 42, which is relatively low. This means that, in the course of the next few days to have the space to grow.
Bearish
However, the RSI is not a watertight indicator. What if, in the course, however, under-capacity of 9,500, the $ 8.800 euros) achieved? Then it is 9.150, the $ 8.460 euros) in the figure, the light red bar on the graph.
In the worst scenario, it causes the stock price to 8.300 dollar expenses 7,675 million), with the next major support on the chart. It feels a bit like a big cat waking up, and again, the beer needs to go out for a drink.
Alaaf!