Welcome to a current Bitcoin exchange rate analysis on crypto Monday. Last week, the number 1 of crypto-currencies stirred up the whole market properly. Currently also forced moderation, a bit of speed, is taken out again, probably so that the Bitcoin price moves for about 5 days in a consolidation formation.Today, the Bitcoin seems to want to rate from this Formation break out, but convincing he is. It is possible but a reversal formation? The Bitcoin exchange rate is now the feared sell-off after the Bitcoin Halving? Or he will just get more?These questions and more, we dedicate ourselves to here and now. It is as usual exciting!Please note: None of this articles listed is to Formulate in any way the trading recommendations. This and the following article are solely for the exchange of information with our readership. Neither crypto Monday nor the author of this text shall be liable for any loss incurred as a result of the trading decisions of our readers. DYOR!Trade the Bitcoin exchange rate with a Leverage of up to 100x, and to secure you in addition to a Bonus of up to$ 90 sign up today for free on Bybit and secure yourself a Bonus of up to$ 90! Here you can not only rising, but also falling share prices. The registration takes 3 minutes and is completely anonymous. Convince you yourself of one of the leading stock exchanges in the market! Sign up now for free
Contents
The necessary power is lacking in the Bitcoin exchange rate?
As already mentioned in the introduction, the Bitcoin price is currently in a Formation, which serves very well as a consolidation formation. Or better said, he would move it. Because today early in the Morning by the Bitcoin exchange rate broke the upper trend line of the Formation, to provide us with a bullishes Signal. But why it is bullish over is not as it should be, let’s look at now on the Bitcoin Chart in more detail.As you are on the Chart can see, the Bitcoin price in a symmetrical triangle. This pattern needs, however, usually around 3 weeks to form, so this would probably classify more as a pennant formation.As we all know, Pennant formations are Consolidation formations, the continue a prevailing Trend break this rule, then. You said that you are flying at half-mast, and, therefore, in the middle of a larger overall movement emergence.Accordingly, the present outbreak up fits very well in this theory. What does not fit, however, and I personally still doubt, is the volume image. So far, we have not seen an appreciable increase in the volume of the Bitcoin exchange rate. The eruption itself appears to be very weak. It looks as if the price has lifted only with difficulty, and Not above the upper trend line to act directly then on this as a support line.Can we trust the Bitcoin exchange rate is currently really?
Was led to the Bitcoin exchange rate Pump artificially induce?
Of course, we could, as before, a continuation of the upward trend in the Bitcoin exchange rate to see. However, we are only a steep downward movement thereof, to form a “Beard Formation”.Bitcoin price manipulation are, unfortunately, not rare at all. Therefore, we are forced, generally, to note these Pumps as critical. Recently, we have reported that in the past, Bitcoin exchange rate Pumps of$ 1,000 or more will be followed by a major slump.
#bitcoin has has 14 days where it gained $1,000 or more in a day. Here is what happened in the days that followed. pic.twitter.com/PTJdEGxqKY— Timothy Peterson (@nsquared crypto) April 29, 2020
Such a Bitcoin price Manipulation would also fit very well to the rapid and unexpected breakout from the rising wedge Formation.29. April, the Bitcoin price explosion shot-like out of the bearish Formation and climbed briefly to nearly 9,500$.Why exactly this happened remains unclear. However, it fits the Narrative of the Bitcoin Halvings, which would have to be priced in already known for a long time and actually already. In addition, Tether was last printed like crazy. How trusting of this Print mechanism, remains to this day questionable.Of course, this theory is proved by nothing, and therefore, it remains only a theory. We have also, of course, bullish factors, which can serve as an explanatory basis for the current upward trend. So the Hash of the Ribbon indicator is given, for example, a buy-signal and the current global economic situation shows once more the necessity of a decentralized store of Value like Bitcoin. This dissolves a lot of bids due soon patterns like the rising wedge Formation to the top, happens in 1 out of 4 cases, and is, therefore, also not unusual.This should just be a word of warning, since the market sentiment is becoming increasingly bullish, the Bitcoin exchange rate trends, but, as before, in the context of its long-term downward. Recently we had a new Low and the last High of almost$ 10,500 in was to break even. As long as this is not the case, should be alerted all the cops at least and act carefully. Historically, following the Bitcoin Halving a downward trend.
For those who is going through the their first #Bitcoin halving, congratulations, you made it ?Historically, #BTC price tends to dump in the first 1-2 months post-halving.History repeats itself?— Theta Seek (@thetaseek) May 3, 2020
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