While you’re at this weekend, the cool down came, it was just getting hotter and for bitcoin! As of Sunday night lap, bitcoin is almost 5 percent, up to $ 12,000 (10.192 million). Rising bitcoin even further? Or, do we have the top preliminary level?
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Why bitcoin is almost $ 15,000 may be
It seems that bitcoin is now the time to really get it on steam, it comes. The price is again break out of a triangle, which you can see in the chart below. You are watching the bitcoin price on July 20, up to the present day, each candle represents four hours.
The price action of the past few weeks, seem to be a bullish pennant, and that is very positive for the short-term.
A bullish pennant is a koersformatie, which can lead to a significant increase in the cost. Pennant means a flag, and it looks like the shape of the formation is also referred to as a bit. First, you will see a large increase (red line in graph below). After that, move the course to a triangle, and the down (red triangle). Break down the price? It is the target of the same size as the mast, and the green line. In this case, it means that the price can go up to a 14.495, the $ 12.321 million).
The support at the moving average
Also, on the positive side, the market price support continues to be found. You look back at the 4-uursgrafiek of bitcoin.
The red line below the chart are the progressive average of the last 50 candles, or the 50-moving average. In technical analysis, this line is used as a moving support / resistance. When there is a rising trend and, as such, this can mean a strong support. You can see on the chart, go back on, every time the price touches the line (blue arrow), jumps back up.
Due to a very important level to be broken
In the long term, we are seeing something that is very beneficial it can be. You have to look at the weekgrafiek of bitcoin, by the end of 2017, up to now. The red line represents 11.461, the $ 9.740 euros) in the past and have a strong resistance. In the beginning of 2018, he managed bitcoin is not for the week on top of this, the price has to close, (first blue arrow). Also, in 2019, could be in the price, no pots to break, at this level, (two of the other arrows). But now, for the first time in more than a year and a half, the bitcoin worked out pretty well.
What can bitcoin get?
So, it’s good for the bitcoin price, but what can we do in the next few days will bring? We are still looking for the weekgrafiek.
Bullish
Is a rise in the price, it is the first major resistance, 13.839, the $ 11.763 million). This is the green line in the chart above.
Bearish
As you have read in the past, it is 11.461, the $ 9.740 euros), a significant level. But what happens when bitcoin is integrated sinks? You will find that the price is likely to support at $ 10,500 (8.925 million), and the red line on the chart.