Bitcoin has positive momentum back to the pack. At this time, the count capacity of 9,500, the $ 8.560 million), much higher than that of the all-time low on Tuesday. Is $ 10,000 (9.012-euro) is back in the picture?
Has broken out of falling wedge
This change is due to the start of the race out of a falling wedge. These are the blue descending trend-line which are facing each other, walk on the graph below. A falling wedge is a koersformatie, which leads to an increase in prices. On Wednesday, it broke its course, and in the past few days, the bitcoin managed to get to the top of 9.500 us dollars (8.560 euros), to be as well).
The chart below shows the bitcoin price is expressed in us dollars. Each candle represents four hours.
The triangle, it is possible to price quite a shake up
However, we are in the one-koersformatie not matter whether you will need some other things. You have to look at the same chart, but just a little out. Bitcoin is now moving into a symmetrical triangle and a breakout there could be a considerable impact on the market price.
The objective of a symmetrical triangle is the same size as the opening of the triangle on the left-hand side. In this case, it means that the stock price could continue to rise to the top of 11,000, the $ 9.913 euros), or to decline to just over $ 7,000 (6.308 dollars).
That will be huge profit margins, but it should not be forgotten that the price of bitcoin is very flexible, it is. For example, consider the motion on the 13th of may. In less than a day, it increased the price by more than a thousand dollars to nearly $ 10,000! Such a move, up or down, it can be done at the end of the frame.
Month-end close above 9.300 dollars
It’s the last weekend of may, and that’s why it’s interesting to see the maandcandles is there to deal with. How is the bitcoin of the month to close? If, in the course of this month with over 9.300 dollars (8.381 euros) to exit, then that is a very positive sign. You can see in the chart below.
The bitcoin in August last year, failed to make the top of this level. In maandniveau is 9.300 dollars, so a strong resistance. Successful bitcoin now, and the month above it to close it, then it’s a very positive sign.
What does this do to the bitcoin price in the short term.
But let’s get back to the short-term, what is the bitcoin exchange rate this is the weekend to do it? We will outline two scenarios for you: be bullish (positive) and bearish (negative).
At the outbreak of the triangle is bitcoin right protection against it. That is, the green line, out of 10,000, the $ 9.012 million). There are having with the course, it was probably at first resist.
It is only when the price is above it the resistance of that $ 10,000 comes in, we should have our eyes focused on the less than 11,000, the $ 9.913 million).
When the exchange rate is the base of the triangle is the next support. It is now about 8.800, the $ 7.930 million).