Bitcoin

Bitcoin is due to the major $ 10,000 prize, but it remains the case that, this time, too?

Bitcoin has, once again, the key level of $ 10,000 (8.537 euro) to the route. You can see in the chart below. A long time motionless in the price side, but on the 22nd of July was the time of the price of a bitcoin is really coming from. But it remains to bitcoin in this time, over 10,000 dollars?

Every month has a strong resistance

In the chart below, you can see the price action from may to the present. The red horizontal line represents the price of the $ 10,000 prize again.

For months now has been $ 10,000 for a strong opposition:

In may, he managed bitcoin is not to be any longer than four hours, over $ 10,000 has to continue to be (first blue arrow)
At the beginning of June was what the stock price is above the red line, and reached even to $ 10,500 (8.968 million). You can see this by the red cross (icrc). But, alas, this was short-lived, and the price popped up quickly to the red line.
Yesterday bitcoin as a resistance is on $ 10,000 (the blue arrow). But for now, the share price is well above this level.

Price at last from the long line

In the long run, it looks like there is a very good for bitcoin. The price is up after almost three years of a trend line is broken. This trend line is draw over the top by the end of 2017 (the first arrow) to the tops of 2019 at the latest (two arrows). In the past few months, did bitcoin have trying to get the line to break up the last arrow, but to no avail. Now it seems like bitcoin is finally at hand. This is a very good news.

In the chart below, you can see these outbreak. As an exception, this time it’s not candles, but it is in the direction shown by a black line. This way, you can have the outbreak, even better.

In the image below, you can see the time again on the chart, but zoomed in. Bitcoin is out of the upper trend line is broken, and seems to be on its way to new heights.

However, there is also a caution

Not everyone is also been positive. Ki Young, I was the CEO of the chain analysis CryptoQuant. To him, it is clear that there are remarkable amount of bitcoins to be sent to the wallets of the cryptobeurzen.

Apparently you will find a range of whales and that is the price to quickly rise. Whales are in bitcoin to investors with large amounts of coins. Because they have so much possession, and they have a lot of influence on the market. The influx of bitcoins to trade shows may be a sign that the whales have their coins will want to be able to sell it on the stock market.

Investors will have to be cheap

Another useful indicator is the Fear & Greed index to Another.me. This is an index between 0 and 100 that is the sentiment of the market in a single day. The basic idea behind the indicator is that you are ‘in the gang’ in the act.

At this point, tap the indicator 58, a sign of slight greed. Increases in the consumer price index up further, for example, for a 75? This is the time to sell them is to think of it.

The Fear & Greed index is a weighted average of a number of factors. The volatility of the exchange rate will play a big part of it. If the exchange rate moves a lot, is that, according to its website, is behind the indicator will be a sign of a fear of the market. Also, the 30 – and 90-day average of the stock price and daily trading volume are included. The trend Is bullish, then investors are slowly starting to be greedy.

In addition, it is also a question of sentiment on social media is taken into account, and there are surveys to be conducted in order for the emotion to be measured. Twitter and Reddit are the social media platforms are where a lot of discussions about bitcoin and the cryptocurrency s.

Finally, it looks Another.to me, the amount of search volume for keywords such as “Bitcoin” in Google Trends. But can also be a combination of words, such as the popularity of bitcoin price manipulation’. The latter is a sign that there is fear, there is in the market.

The coming days will be exciting

Conflicting signals to them. On the one hand, it’s good to see that the direction of a trend line break which is since at the end of 2017 to be valid. On the other hand, some indicators are that the price will soon come down. It will be in the next few days, however, also interesting to see whether or not bitcoin is over $ 10,000 you can stay in.

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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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