By John from a More The (Bitcoin Consultant) of A balanced pattern on the daily chart, keeps things a little boring. So, what can we expect from the pattern of the outbreak? An analysis of the potential scenarios for bitcoin.
Contents
Bitcoin price weekly chart
On the weekly chart (see figure 1, below), it is seen that, in the course of the 12EMA (blue line) continues to hold. So, on the higher time frames have the bulls definitely in control. In last week’s article was written, how the descending triangle also the bullish can. Even though there are not a lot of it is spoken, there is still more to be read about the bullish scenario for the descending triangle. Remember, the more it is spoken, the less likely it is that this will play out. There is not much to be found.
The course continues this week, taped at the top edge of the end line, but on the lower timeframes, I see some more weakness, which I think is the direction back again in direction of the bottom side of the triangle is going to go. In addition, I am of the opinion that the market price still is the 21EMA (orange line), is now available at $9.250) to test for it. As long as the price to connect above that, there is nothing to worry about.
The RSI is stuck between the red support and resistance lines. Also, see how the resistance line is the main limit. In the last bull market, the stock price, there is always on top and in the bear market, there will always be the bottom. It is reasonable to assume that the direction of the line, once again is tapped. This would be in the direction help in the direction of the 21EMA.
Also, the volume will decrease, which ought to be in the triangle formation.
Figure 1: the exchange Rate and preserves the 12EMA which bullis is. The RSI is stuck between support and resistance, and the volume continues to decrease.
Bitcoin price is in daily chart
The price on the daily chart a higher low (HL), shown in figure 2, below), which is a modification of the daily trend, it could have been, but for the confirmation of the change is to a higher-high is required.
At the moment, it appears that the rate to a lower high (“LH”) has been, and is, thus, a balanced design is created. It will most likely be a higher low to form in the direction of the support is in the $10,000 – $10.100. The price should then be just waiting to happen. I expect that we will have a few days to balance it, and then continue in the direction of the bottom surface of the descending triangle go on.
In the bullish scenario, the daily rate of the 12 and 26EMA (blue and red lines), and there is a bullish cross. However, on the 4hr chart, it looks like a lower high has been made.
Figure 2: The exchange rate is in equilibrium pattern, in which the lower-higher (LH?) will need to be formed.
Bitcoin 4-hour chart
The stock price is above the 12 and 26EMA what I am normal to bullish it. However, I can see the exchange rate again be lowered for the higher low to the day to day direction to take shape. On the 4 hour chart, there will also be a lower top formation confirmation. I would expect the stock price to support, it will be found in the light blue box is the daily higher low.
Figure 3: number of A bearish cross of the 12EMA and 26EMA the blue line and red line), the share price is in a downtrend.
What is the price of bitcoin is doing?
On the daily chart, the stock price is in an equilibrium pattern, which is likely in a few days time, it will break down. I would expect that to go down, it will be in the direction of the bottom surface of the descending triangle. First, you will need a higher low to be formed, which I expect it to be around $10,000 – $10.100.
A new Trade training course in the development of
The online trading course is almost ready! Sign up now and get a 5% discount. We also have the chance to take the course free of charge to win it! Like my Facebook /Twitter, and/or the website for the news. Rather, the trading seminar? Then my Meetup page!
John, from a More
The Bitcoin is a Consultant, John More, was for some time engaged in informing the general public about cryptocurrency to teach through webinars and seminars. He was also a key point of contact for the investors to get all of the details you need to know about crypto, such as investing in Altcoins, ICOs, and a successful (day)trading. On Tuesday, he is to be found in the Blockdam, where he works with the others to the DAO, and BlockDAM token.
The new Bitcoin News on: Bitcoin, and the Lightning Network, as well as the measures taken by The Bank
To have a say about anything that has to do with bitcoin, altcoins, and the market that surrounds it? Come and visit us on Facebook, Twitter, or by Telegram.
Thank you for signing up!