Cryptocurrency

Bitcoin-a-year high! Where are the bears?

We want to look at the current BTC rate in US dollars and in euros. Where wait is the bear and which areas are in the hands of the cops? Bitcoin has this week, a pretty strong Performance, but the cry for a correction is growing louder. Or is this the beginning of a new Bitcoin Bullrun? We want to explain, on the basis of the Charts in more detail.

Bitcoin, with a strong end in July

First of all, we want to look at the whole superior at the monthly Chart, so we have a quasi-bird’s-eye view of the Big Picture in mind. The month of July is a strong buy candle with your statements at 11.360$ a old month of resistance out of it. The former month completion in June 2019, the lag depending on the stock exchange approximately 10.800$, is now broken first. We also see no large wicks, as it was in the summer months in the years 2019 else. But the first investors and traders looking for a correction. Because that of course lay down without significant sales as a movement, did not expect a lot. In our last BTC price analysis, we have compared the Bitcoin with the precious metals Gold and silver. Because these Assets are in a excellent movement. There has now followed suit, also Bitcoin, as we have also to describe. They don’t call Bitcoin the Digital Gold.

The Zone around 9.800$ ,which was previously a key resistance, in the end, the catapult for the BTC course. From there, Bitcoin knew only one direction – and this was to the top. Only the month Key Level at approximately 10.800$, there was some turbulence. We should be further up, around a month, will also be on the Level of embossing, this is the brand to 13.780$. Here is the month of completion December 2017 was held. This time will probably occur every bitcoin investor known, the former BTC price Rally. This Zone was tested again in June 2019 and re-sold. For the month of course of this Zone is again important.

BTC under the magnifying glass in the daily rate

Let’s look at the Whole thing from the proximity switches in the course of the day. Here I’ve Packed three key Support zones in grey boxes. I also have the daily zones, which are the Daily Key R/S lines drawn in. And, of course, an important week and month line I have taken in the Chart with in. The most important support zone is the brand to 8.550$ to 8750$. We are currently far, so we want to look at the support zones in the upper Segment.

The BTC-price was able to break the former resistance zone at about 9.800$ and also as a support zone to confirm. Of the from even the price Rally began in the last section of July. Over the month zone could be at 10860$ to 11.100$ as important. Just the Monthly Key 10.760$ us are currently serving as support.

As Bitcoin is presented as strength, we should also be more likely to buy or long positions are looking for. The three zones I think are quite important and striking. The 9.800$ in my eyes is a psychological Zone, since this is under the$10,000 of value. Something like that could be decisive in case of a fall in price to attract new buyers. As the resistance of the us and I have to end the wick from the July 2019 at 12.330$. This would be a first significant resistance.

Trade on the worlds leading Social Trading platform!

Join the millions of people who have already discovered how it smarter to invest by copying the best investors in our Community, or be copied and as a result, a second income can be achieved. Start now!

BTC price analysis in the Euro

We want to look at for a change to the BTC-price in Euro. Since we get very probably the Bitcoin in the currency pair BTCEUR in our Depot. The Whole thing we make in the daily Chart. Here, too, I made three key support zones to locate. If we look at the lowest support zone, and more precisely, it is clear that the strong 8.000€ is a very important area. The Zone of 7.930€ 8.080€ as Support to.

We go a level higher, so the grey Box of 8,530€ is to be understood to 8.700€ as Support to. There is also a Daily Key line, which runs at 8.710€ find. It’s basically in the Dollar 9.800$ line, Chart, started, from where the Large BTC price movement.

Let’s take the acute support zone in attack. This is found under two major time lines. Once the month line the 9.460€ and the Daily Key R/S line, which runs at 9.210€. Our major support zone was run in may and June of 2020, again and again, but this line has not been broken. This Zone could serve as a first point of contact for new Long Order. The area I Packed again in a gray Box and is of 9,080€ 9.230€.

After a strong Sprint in the last few days, a recovery would not be far-fetched, but the BTC price is just in the Momentum, and here you should be with Sales and Shorts carefully. We continue to see currently, the price bullish.

Now where Bitcoin is in the Momentum, take a Chance on the train to ascend!!!

75 % of private CFD accounts lose money. No EU investor protection.

Image Source: Trading View, Shutterstock

Contribution of:

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

Do NOT follow this link or you will be banned from the site!