Oh my god, bitcoin is very hard to down.
No, not at all, that is the graph of the Plus. Dropped in last night, with as many as 70 percent of the time. Compared with the Plus seems to be the bitcoin price to be stable. The price for the old and the new, still in the direction of the top?
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Price break is (finally) out of the line
Are you looking for the bitcoin exchange rate at the end of October through to the present day. In the chart, each candle an hour before.
The bitcoin exchange rate is finally out of the downward trend line is broken. For weeks worked, the bitcoin is not due to the line is going to break down. But yesterday, it happened anyway, and that’s a positive sign. This could indicate that the downward trend of the past few weeks is over, and that in the course of the ascent are found.
One possibility is that the direction of the line a second time to test for it. This means that the bitcoin of the trend line, once again, to look up to, and from there on upward bounces. That’s a positive, because it confirms the breakout.
A further decline below the trend line is more bad news, this means that the downward trend will continue.
For the old and the new one has an extra party?
Now, we will zoom from the graph. You can see the bitcoin price from June 17th through to the present day. Each candle represents four hours.
In the slightly longer term moves in the price of bitcoin is still between the two descending trend lines on the chart in orange. These trend lines running in parallel, and therefore, it is called a channel. Break down the prices for the old and the new is still out of the channel?
Since the end of november it is, bitcoin is in a positive momentum. You can see in the chart below the rising trend line, in blue). Continue on this line support? The course is for new and old make an attempt to get out of the channel to break up. To be more precise, on the 29th of december.
In the chart below, we have the same situation in terms of zooming in. You can see the channel and the rising trend line:
In the long run according to schedule
If we look at the long-term, when bitcoin is still on track. In the chart below, you can see the bitcoin price by the end of 2013 through to the present day. Each candle represents a week. Please note that the chart is now expressed in terms of U.s. dollars. This is because these currencies continue to be able to go back and look at the graph below.
The line going through the graph you will, is the 100-week Moving Average. A Moving Average is the moving average for a certain period of time. You can see the line, if a motion, resistance, or support.
Have a look at these Moving Averages, it seems that in the course of a given pattern in the form of:
First to break bitcoin out of its Moving Average, is down. You can see this by the red cross.
Then it is in the course of the soil. The bottom end of 2018, was the 2,700-euro.
Finally, you break down the price to the trend line, but up to the top. You can see this by the green arrow.
In the following, bitcoin is once again the key.
It seems to me that bitcoin is now on the same path as the previous one. However, it continues to be exciting. As the stock price moves continue to be around the Moving Average, and below clear movement of made up.
The first golden cross since 2016, good times ahead?
We are going to be in the Moving Averages. The 50-week Moving Average is rising above its 100-week Moving Average. Such an intersection is called a golden cross, and in the long term, is a very good sign.
The last time that happened was in the week of the 23rd of may, 2016. This was the prelude to the big move upward, in the direction of the top of 16.600 euros. From that point on up to the top, increase the price by up to 4.395 percent! We have such an increase to be expected?
Want to know more about Moving Averages? Then take a look at this page.
What are the expectations of a bitcoin?
In spite of this positive analysis, we try to be still, to stay objective. Therefore, for this final part of the analysis, but there are two different scenarios. There is something for everyone!
Bullish
In our positive scenario, in the course of the growing trend to follow. At the end of the year, bitcoin is at the top of the channel, about, at 7.400 euros. Breaks down the course even in there? Then, we can have our eyes focused on the peak, and by 2019, around 12.200 euros.
Bearish
But what happens if bitcoin drops? Then, when the race to the bottom surface of the channel. A value of 5,600 euros, it is even possible.