By the Computer, League – The Bitcoin (BTC) exchange rate is currently around $10.200 from Bitstamp. What’s the opinion of the analysts of the Computer League, the direction to take? ‘Bitcoin will be by the end of this week, out of the falling wedge break it down in order to rise towards the $11.700 works’.
Bitcoin (BTC) to update
In our technical analysis, we make use of the Four-Wave Theory (4WT). As a model, which is based on the historical price action of Bitcoin (BTC) in the past ten years.
The historical price action, we have a number of dominant koerspatronen removed koerscycli that are recurring.
We have a number of experienced cryptotraders, and a physicist from Germany, we believe that, on the basis of this model, it is fairly accurate, the bitcoin price is unpredictable.
The 4WT has allowed us to see that Bitcoin is at the beginning of the month, not less than $9,000 each, would go down. While many analysts have pointed to the “gaps” in the futuresgrafiek, and, therefore, does have a drop center.
After the bitcoin at the end of August, up to the level of $9.300 out, did not know it was on the basis of the model, and to determine that further recovery is coming, and it was.
The current correction is due to the model’s forecast, while traders are out in public with a buy recommendation gave the order for the $10.800 in.
Bull market waves-the
We will zoom out, then the 4WT model, to see how the bull market of the two waves is two prior to the halving of the block reward (expected to be may/June of 2020, ed.). and the waves that followed.
Each wave ends up on top of the previous wave and the fourth wave in 2017, the tsunami, the price of Bitcoin is due to the $20,000 spent.
At this point in time, we will be in the first wave of a bull market. We think that’s price trend of bitcoin, a second wave of increase is going to bet on.
We also notice that the bearish sentiment is still strong. At the same time, the bulls are still in control.
You don’t want to have to use their strength lost in the round of the bear market, which is more than the 70-week period since the peak of the by the end of 2017.
The price of a single Bitcoin is currently in a falling wedge (see the diagram below, ed.). since the ranges from $13.900 to the end of June.
Now that the Bitcoin exchange rate is very close to the edge of the falling wedge, there is an outbreak around the corner.
Bitcoin (BTC) chart
On the daily chart, we see a decrease in volume, and we have a bullish divergence in the RSI, which is often a precursor to a trendomkering from bearish to bullish.
We expect, in the short term, with a breakout to the top, in the direction of $11.700 works up to $12,000 can be.
This is followed by a decrease, in the direction of the supportlevel of between $10.400 for $10.600.
The question is whether we can in this month of september, the soil is in the $9.700 product. After the $10.900, the price of a fix to start, which came out to about $10.100.
At this time, Bitcoin is less day-to-day and four-hour day. the ribbon in the short-term bearish, it is. In this way, a partial reduction is very likely, and that can take us in the direction of $9,700 to bring.
$9,700 is a strong support line in the whole Bitcoin history is, the support team will never be broken in a bear market.
It is a fact that Bitcoin will not drop quickly, make $9,700 more likely, because it is a strong and quick drop under the $10,000 bearish, and people freak out.
The slow decline will give more confidence in a bullish course after it reaches the soil.
Our analysis shows that it is very likely that bitcoin is, at the end of this week or beginning of next week, out of the falling wedge breaks down to $11.700 works and is $12,000 and is rising and will never again be under the $10,000 is coming.
That being said, we are for the next month is very optimistic.
Bitcoin in the medium term, on top of the $12,300 for movement, and a new jaarrecord reach the top of the ca. To $14,000 to come true. This will be a very bullish sign.
We are in a bull market, and it’s not a question of a bulltrap, like a lot of people still believe in it.
The establishment of a new jaarrecord, we see it as the start of the bull market.
Combined with the launch of the Bakkt on the 23rd of september, it is going to be a second one at the end of 2019 and beyond, the $20,000 to spend. A new all-time high this year, so in preparation for the halving by mid-2020.
Computer team is a highly experienced traderscollectief from the Netherlands to Germany, which in 2011 is running. They will share their analyses of, inter alia, on Youtube, and Discord.
The new Bitcoin News: The sales of bitcoin miners, the measures by The Dutch central Bank, as well as Chinese coffee shops.
To have a say about anything that has to do with bitcoin, altcoins, and the market that surrounds it? Come and visit us on Facebook, Twitter, or by Telegram.
Thank you for signing up!