It’s hot outside, and bitcoin seems to be on a beach. The price moves in the days of sideways, and there’s not a lot of exciting things happened. However, it may be there in the next few weeks, just to change in the near future. In this review, we will look not only at the short-term, but we look also forward to in the coming months.
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Again, that is the triangle?
I’m Sorry, but he will continue to be relevant. The power of repetition, we’ll just have to say something about it.
The situation in the short term, it is basically unchanged since our last koersanalyse. The price of bitcoin to move between the two trend lines in which to move around. In the graph, we have a trend-line in the orange shown in the diagram. The graph focuses on the short period of time, each candle represents four hours.
The question that remains is: will break down the race to the bottom or the top is off? The trend lines come in around the middle of september. In one of the most boring scenario, the question is, therefore, up to that time been answered.
But in the long term
Keeps bitcoin fit neatly within the lines, then for the next few weeks, do not be so anxious. Therefore, we will zoom in the chart, what to.
You can see below, was two-fold. Above you can see the bitcoin price in euros. Every candle on the chart represents one week, instead of four hours. Are you looking for the bitcoin exchange rate from 2017 through to the present day.
The MACD is displayed. The MACD shows the difference between the Moving Averages once again. The MACD indicates in most cases the direction of the trend. In simple words, the green is a growing trend, red for downtrend.
In weekniveau colour of the MACD for the first time since the beginning of February is red. This is a change from the green, as a bearish cross is mentioned. However, this bearish crossover problem?
At the beginning of 2018, with the colouring and the MACD is also in red. That was the beginning of the bear market. But to the extent that it does not need to come out. In a bull market, a bearish cross is just a temporary bottom is set. The price increases are again thereafter.
How it works you can see in the chart below. Please note that the chart is in u.s. dollars [expressed, as we go back in time to be able to use this currency. The MACD is red color you’d expect of a long-term decline. However, in a bull market-will decline as well, the correction has already taken place.
The bitcoin exchange rate is now a temporary bottom is found? That is, it is very easy to accomplish.
Price found support at the RSI
Also, a different indicator has been pointing out that bitcoin is still in an upward trend is. You are looking at the lower graph shows the Relative Strength Indicator or RSI. This will give momentum to the share price.
To put it simply: if the value is above 50 is a positive trend. Below is the stock price in a negative trend.
And that’s when bitcoin will also be nice to be wrong. In a bull market emerges, the RSI is generally not subject to the 53. You can say that the RSI is there for support. It was made in 2012 and 2014, the case may be, and in the bull market in 2016 and 2017.
Right now the line is still at the top of the support zone, the RSI is now around 60. In the long term, you can bitcoin, therefore, have some pockets. The bottom of the RSI on the weekly level, which is about 53.
However, the RSI on the weekly level up to the 53? The trend line in 2019, will remain intact.
Well, what’s it going to be? A large price move, we should probably have to wait until the end of september. In the long term, bitcoin will still have a solid foundation on which to continue to increase in value. We are waiting for it!