By Antoine – The last few days, Bitcoin (BTC) and the downtrend from $14,000 each to try to break them down. At the time of this writing, there is a strong resistance at $10.900.
However, this has never happened, and it seems likely that the current range will be available in the future. A decrease in the exchange rate, it is becoming more and more likely.
However, the price is very, very stable on top of the $10,000 at the time. We will go over the next week, then perhaps it is for the downtrend to break? That is, it is hard to say, but it is good to keep in mind.
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Bitcoin analysis
In the last analysis, for me, on Thursday, the price has once again tried to $10.900 to break down.
It is easy to see that the strong weekly fibonacci resistance strong resistance, but continues to offer it. This is partly due to the fact it is an exact copy of the current downtrend line.
The response is very strong, and after a few fake-outs, popped in a candle and a couple of hundred bucks down.
The share price recovered to more than the expectation of the lag and it seems to be fairly stable are over $10,000.
Bitcoin daily chart, September 8, 2019Wanneer, however, we are going to zoom in the daily chart view. We see the same picture as the one from last week.
The price is still in the downtrend since mid-June, and it looks like this is the way to the bottom to see it through.
This is also supported by momentum indicators, which are currently pretty overbought, and so the reversal to the down to appear today.
The child support levels begin at $10,000, it will be the first stop for the day. This is both a support and resistance can be very strong and will have enough resistance to be able to offer for the price above, and to keep it.
If, however, this is not the case, then it will be $9,000 each, once again, have a safe range for the stock price.
Bitcoin hourly chart, the 8th of September 2019Een little bit further zoomed in, we can see the same image on the 1h. The price is currently around support level of $10.500 and is struggling to stay on.
In the direction of $10,000, we’ve seen a few of the weaker support levels are likely to be quickly broken, can be used.
Everything seems to be so on the basis of the TA is to point out that the price will go down lower and a new low could look like. However, in the next few weeks are filled with positive news and Bakkt.
What could provide a new boost to the share price and, therefore, all the TA can revoke.
It is, therefore, very important for this type of events, and not just to rely on the TA. This can be done by a good number of stops and risk management, in order to enable you to in a single trade is too much to lose!
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