By Mr.Coingrats – At the time of this writing, the bitcoin (BTC) price, at $8.115 to Bitstamp. What is the cost to do it? Please refer to the technical analysis of the Mrg. Coingrats.
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Bitcoin (BTC) weekgrafiek
The weekgrafiek, we see a hard-nosed rejection of the upper trend line to the underlying orderblock. I have it in two colors, and divided (as shown in the figure 1, in red). The shaded area is the area in which the exchange rate is in my eyes allowed to move around freely.
However, if the price of the red is going to look, we have to make are going to create a fall towards $5.800 – $6,500 to where it’s SMA50, just above the orderblock is. But to the extent that it is not possible right now.
At the moment, the price for parking in the shaded area of the orderblock and is, EMA50, EMA100, and SMA100 is directly below the weekly candle, and serves to support the EMA lines, SMA, and are dotted lines).
Figure 1: bitcoin (BTC) weekgrafiek
Bitcoin (BTC) chart
On the daily, the weekly, the turnover for 4 to 5 days of support.
MACD is quite low compared to those of the last period of time, and we continue to see a bearish matter. StochRSI has a bullish crossover in oversold area and the RSI is also at an extreme oversold area.
At the moment, a light, confirming that the share price will rise, but it is not very convincing. The SMA200 is tight up against it as resistance. The orderblock has been the level of what I had in the holes that hold.
We could possibly be going through can bags, so that the flag/channel, and is also valid as can be. This would be in the red area. When we get there bags, we can sometimes be hard to fall off.
Figure 2: bitcoin (BTC) chart
Bitcoin (BTC), the 4-uursgrafiek
The 4uurs graph, we can see that the price is in a Descending channel, and move, and have struggled to get to the upper trend line to be broken. In the short ema (8, 21) is bearisch, and the price is hanging below it. All in all, not the best of signs.
In a descending channel, it is the end of both the top and bottom as possible. The channel runs through the whole of the orderblock, when the outbreak is at the bottom, it will be severe. Also, at the top, there is a lot of room to move.
We are also on the 4h, a rising wedge (blue) can be seen, this is a bearish pattern. In this case, the price is a fake out up to the orderblock to show for it and then go scuba diving.
Figure 3: bitcoin (BTC), the 4-uursgrafiek
Bears are on the road.
My bias is currently on the bears! I’m expecting that we’re the channel for a little while, to be followed, perhaps even into the red part, and then started to climb again back to go again.
I’m expecting at this point in time, we’re not through with the two-tone orderblock), respectively, but keep this in mind.
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