The Bitcoin price is consolidating now for over a week. BTC holds on to Win over $ 9,000, while the stock markets of the world in the Wake of the Coronavirus outbreak nervous. A five-digit Bitcoin is likely to expect us soon, and here are the reasons.
The Bitcoin price has remained another day long in its span, whereby the phase of consolidation extended to a week. Since the 28. January varies BTC of 9,200 and $ 9,600.
At the time of writing, Bitcoin was traded at the lower end of this range, only just over 9,200 $.
The $ 10,000 Bitcoin – technical aspects
The longer the asset remains at this level, the more bullish it is. The probability of a further upward impulse is increased on the path of least resistance.
So far, Bitcoin has reached this year 30%, and we are only in the fifth week. A number of factors seem to favor these profits at the Moment. This could put a further rally to continue, the success of the last years is linked to or even surpasses.
1. Crypto-according to analysts, the monthly support is increasing, and the January candle was the largest since may and June of last year. 2. Also bullish is the return over the 21-week EMA is historically a good indicator for a bull market. 3. Another Signal of the RSI on the weekly Chart, the move back above 55 is considered as a bullish feature.4. The Bitcoin price is again above the 200-day moving average, which is a further technical confirmation of market sentiment. 5. The Golden cross on the daily Chart is a reversal of another very positive Signal for the long-term trend.
It came two days ago, as the slide crossed the end of the 50-day average above the 200-day average. The last Time this happened in April 2019, and in the next two months, an increase of 200% followed.
A similar increase in the current Bitcoin prices could make BTC after the halving to 28,000 Dollar increase.
In addition to these five long-term technical signals there are a number of fundamental factors that could cause Bitcoin soon back to five-digit levels to rise.
Probably the biggest influence on the Bitcoin prices this year will have the halve – and if it runs similar to the last two in 2012 and 2016, then the price will rise in the next year will be even greater.
By the outbreak of the Coronavirus-caused economic problems have also set the global currencies and Central banks under pressure, what that means for Bitcoin is a bull market.
Sufficiently informed? Now Bitcoin to the winner of the test shop:
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