Where the bitcoin last month, undisturbed, rose up, spits the motor, and now for a little bit. Been a week, and if the exchange rate between 9.100 dollars (8.230 euros) and a capacity of 9,500, the $ 8.600 dollars). There seems to be no clear direction to explore. This is usually followed by a period of stability, is a great move. Can we get a dip down, or a flight up to expect?
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The resistance will be support
In any case, it is a good thing that bitcoin support. In the chart below, you can see that the area of 9100 dollars (8.230 euro) is very important.
On the 19th of January, tried to bitcoin, with the zone-to-break (first red arrow). They did not at first, bitcoin plunged by almost a thousand dollars. This was a decrease of 11 per cent.
For more than a week later, and it seemed to work at first, and the price was good resistance on-9.100 dollars (second red arrow). Yet, it was able for the bitcoin to get the area around the break. At this point, it seems 9.100 dollars is a strong support to it.
With the ups-and-downs is bitcoin the way up
Also, by 2020, to move the bitcoin price is in a channel. These are two parallel trend lines. And what about bitcoin for a while on the canal, though, because it’s going to be an increase in the channel. Continue the course into the channel of understanding. It is very possible that bitcoin sometime in the next few days for $ 10,000 (9.040 euros) breaks down.
The increase of 236 per cent on a tablet.
A positive sign is that the two Moving Averages cross each other. A Moving Average (MA) that means, literally, the moving average is a moving average of a certain period of time.
In the chart below, you can see the 50-day MA in red, and the 100-day MA will be in the colour orange. The red line tells you more about the short-term, and the orange, over the long term.
You can see that the red line and the green line breaks (the third circle). It’s called a bullish crossover, and that’s a good sign for the future.
The last time this happened, it increased the price by more than 236%, to the top of 13.800 usd (€12,500). That is the last time it was on the 13th of march of last year, which you can see on the first ring.
When the red line is below the orange line, it moves, it is a negative sign. Saw you for the last time in september (the second circle). The share price fell, then the three months in a row, to the lowest point of 6.400 dollars (5.800 euro).
But be careful
Nevertheless, we mustn’t speak too soon. Thus, a junction can also be a false signal. In June and August of 2018, there seemed to be a bullish crossover to occur. However, the stock price to fall. In order to ensure that a bullish cross is valid, it can be a good idea for a number of days to wait and see.
What do we expect from bitcoin?
Well and good, but what can I do for the next few days for the rate to be expected? As always, we’ll discuss two scenarios, one is positive (bullish) and negative (bearish) scenario. This way, you will never be caught! (And we can never be wrong)
Bullish
As bitcoin is the top of the blue zone is the next resistance is $ 10,000 (9.040 euros. The next resistance is the top of the channel around $ 10,500 (with 9,500 dollars).
But to the extent that is bitcoin really that $ 10,000 to see here as well. And that’s a problem because this is an important area.
At the end of October to work with the bitcoin, not to make up the $ 10,000 to keep going. In the summer of 2019 and it looked like the value is correct, is an important support. “We’re not going to be the 10k!’ there was a Twitter set up. Yeah, but it’s also a little bit of for.
But, I digress. $ 10,000 is very possible in the coming weeks!
Bearish
But what happens when bitcoin is in the blue zone breaks up? Then, the first support is found at the bottom of the canal, and on to 9,000, the $ 8.140 million).
And if the channel does not support it, we still have the 200-day Moving Average. In the previous analysis, we discussed that this is a very important level, it is in a bull market. At this point, the level at 8.860 dollars (8,000 euros).