In this Bitcoin price analysis, we want to focus on the technical analysis of the Charts. More precisely, it should go to chart pattern, suggest that we could soon experience a significant increase in the BTC price.
We look at the daily Chart of BTC, we recognize that there is an inverse head and shoulders has formed Formation. Admittedly, it is an ugly specimen of his species, however, it is not about the appearance but what’s in them. More specifically, the potentially subsequent Performance said and agreed to, in principle, in this type of formation! Interesting for us is that here is already an outbreak is present, and the so-called Neckline has proven itself as a Support.
The inverse head-and-shoulders-shoulder Formation is a bottom formation. It is the bullish counterpart to the well-known head-and-shoulders Formation. It does not arise, contrary to the expectation of many at the end of a long, but short downward trend. The chart pattern has the characteristic low, consisting of the left shoulder, the head and the right shoulder.
However, it is as I said, not a pretty copy. Neither the volume pattern is still the lack of symmetry of the pattern speak for a Prime example of this Formation. Nevertheless, it should not be ignored, because the Performance could considerably be.
But before we come to speak of the fact – once again – an unusual volume curve, which is rather atypical for this Formation, it can alert the Trader to caution. But it is also not a reason to leave the pattern on the left. The only fly in the ointment is the high level of reliability of Formation, the power Failure is rare.
Read also: Bitcoin exchange rate to buy non-imaginable heights on the road & Square BTC for 1.500.000.000$
Bitcoin exchange rate just before the outbreak?
To calculate the minimum price objective of the Formation is very simple. You just have to of the lowest point of the “head” is a vertical line up to the neck line. This distance, projecting you to the breakout point on the neck line to the top. What you get from this, the minimum exchange rate target, which is in our case the Bitcoin exchange rate at around 16.500$.
Of course levels between the Bitcoin exchange rate and this minimum exchange rate target of significant zones, to be overcome only once, with the resistors 12,000$ 14,000$ yet. Should, however, succeed in the following days or weeks, a sustained break of the$12,000 a resistance zone, is likely to only there is still little doubt that the chances are high, that will take the Bitcoin course, the 14,000$-hurdle successfully.
The ascending triangle that is formed above the neck line of the inverse head-and-shoulders Formation out, moreover, that the chances are quite good that the Bitcoin exchange rate very soon, could leave up to$ 12,000 behind.
Here is the outburst, of course, remains to be seen, but if it occurs, could develop things rapidly and suddenly.
Read also: Bitcoin price Explosion by 200%? The report by octopus predicts flowery times for BTC investors
In Bitcoin to invest – here it is made easy for you
You should be of the Potential of Bitcoin as a result of your own research convinced, then you need to make sure that you want to the following 2 essential things:
A safe trading place and a good investment strategy.
It should be missing you in an investment strategy, then we recommend you take a look at the education article of Bitcoin to take place, in the you you 2 of the most efficient and at the same time the simplest investment to introduce strategies and using data to evaluate.
In Bitcoin Advisor, investing – learn the strategies the pros use and will self-Averaging to Dollar Cost Averaging vs. Dollar Value – What is the most profitable strategy? Here, you will learn it.
When it comes to a trading platform, we put you to the Test-winner of our exchanges in comparison to the heart: eToro.
In particular newcomers in the field of crypto-currencies place a great value on a high level of comfort. At the beginning of the Set up of the Bitcoin is of no use in Wallets and the manual Sending of BTC as a deterrent. In such a case, it is advisable to start with a reliable, regulated Broker that you
trading with Leverage (2x),taking Long and Short positions,deposits via PayPal,the Sending of real Bitcoins in your Wallet andthe use of a wide range of trading tools,without a Download of any Software is necessary.
All of these benefits offers you the world’s leading Social Trading platform eToro. Just try it and convince yourself of the benefits mentioned above. Start your Investment!
75 % of private CFD accounts lose money. No EU investor protection.