What is the price of a single bitcoin (BTC) to do so? We are now watching the support and resistance areas.
Contents
The weekly chart
In the course of the last period of time, especially sideways and went down. The highest quoted price was about $10.400, while the low this week around $9.877 was. As for the week’s candle looks right now seem to be the bulls are getting stronger. As of tonight, the candle on top of the $10.800 close that is bullish.
In short: with a bit of luck, we may see a further rise in the BTC.
Bitcoin weekly chart
Bitcoin chart
On the day graph, we can see very clearly the position of this change in the exchange rate. We are the first to have fallen into the red orderblock has gone and then there will also be a falling wedge has formed, is proposed, with the bottom of the falling wedge.
The jump took place on the top of the orderblock and the weather is a wedge for a ¾ – in!. As long as the price is above the blue orderblock continues then we could soon be back with a breakout attempt is expected.
Click the blue orderblock above it would be a rejection, can be expected to have a down trend line (red dotted line) to the retesten (see black arrow). If that retest is successful, we’ll be able to talk about a new trend, and it has been in the downtrend since the end of June was broken.
Bitcoin daily chart
The 4-hour chart
On the 4 hour chart we can see a clear purpose of the STF (short timeframe) to support arise, they will be highlighted in yellow. We can also see that there is a symetric triangle is created, and the price is above the support zone breaks.
The two possible cases for the triangle, which I have in mind like are displayed on the chart. The red arrow (the black arrow in the day-to graph), or the bullisher version of green arrow.
Also, there is a bullish crossover on the MACD and wants, which are now above the 0-line. The RSI is still above the 0-line, and it seems to be behind-the-MACD-to move.
The 4-hour grafiekWil of you, my updates will continue to follow it? Every Wednesday we will post a BTC update, the extension of this in our technical analysis channel. Self-learning is performed? This course is for beginner traders, it is now also available on the site.
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