Bitcoin is now starting to really steam up! Since last Monday, it is the rate of 4.7 per cent. In the chart below, you can see that the price of an equilateral triangle is broken, the share price now seems to be on its way to new highs.
That’s great, but what else can we expect to see in the future? Have a look at the short-term and long-term.
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In the short-term
Let’s even zoom in on the graph. You have to look at the uurgrafiek of bitcoin, the chart will begin on Tuesday, July 21.
The share price formed a bull flag, with a koersformatie, which usually leads to a significant increase in. For the price, got this for the price target of the bull flag on a 9.600, the $ 8.295 million). If you think about it, what a silly word for a bull flag to help you remember:
First, the price for a huge move up. That is, it is in the back of the flag (on the left in the diagram).
After that, it moves in the exchange rate between the two trend lines at the bottom.
Breaks down that the price at the top end is off? The increase is as large as the mast of the flag (on the right in the diagram).
However, the history is just repeating it, because there seems to be a new bull flag forming on the uurgrafiek. That is, the objective is also to this time round? Then the price will rise to a 9.700, the $ 8.382 million).
Support, on the average, the
The hours are flying by, so let us take a look at it to-day. You are looking below at the chart of bitcoin, to the red line, which runs across the chart are the progressive average of the last 50 days. Or, in English, with the 50-day moving average.
The 50-day moving average, in technical analysis, is often used as a moving support / resistance. In an upward trend, the line is often a support in a downward trend, just a resistor.
In mid-June and plunged the price to just below its 50-day moving average, but in the meantime has the bitcoin is strong and repacked. If the stock price is above the red line, then that is a positive sign for the future.
Bitcoin is conquering important
We can zoom in even further on the chart, you’re looking at the bitcoin exchange rate as of may 2019 at the latest, to the present. The green line in the chart is the price of 9.435, the $ 8.145 euros), which is an important level. The price is moving just above this level.
Why is this award so important? In the past, bitcoin is often in this stage of,
In the summer of 2019 was on the green line will be a strong support. At the end of september, dove into the race with a lot of force on the green line.
At the end of October and increased the price by 40 per cent in a single day, but it had to be a price not more than the top 9.435 dollars to keep up.
At the beginning of this year, bitcoin is just the support on the line. But in the case of the corona virus, threw a spanner in the works, and the price dropped to the lowest point of the 3.850, the $ 3.322 million).
Like bitcoin is now, finally, support is on 9.435 dollars? It gives a lot of confidence for the future.
So, what can we, the bitcoin exchange rate to expect?
The future of bitcoin will see it again better off. But what can we expect in the next few days? We will describe two scenarios: bullish (positive) and bearish (negative).
Bullish
Breaking the price out of the bull flag? The course, with an additional one hundred dollars, to rise up to 9.700, the $ 8.371 million). This is the green line in the chart above.
To succeed, the bitcoin to over 9.700 dollars to come here, to clear the way for an increase to $ 10,000 (8.631 million).
Bearish
If the stock price falls, we find the first support at 9.435, the $ 8.145 million), and the orange line on the graph. Drops in bitcoin too through it? You will find that the price is likely to support by 9,200, the $ 7.937 million), and the red line on the chart.