That was quite a scare, over the weekend, the bitcoin price by more than 9 percent. In the meantime, the price is once again on the rise. And that’s not good news, it’s a cross between the two Moving Averages is a very good thing to see. The last time this happened, it increased the bitcoin rate of 165% in less than two months..
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Support 9.500 dollar,
But first, back to last week. Bitcoin was in the $ 10,000 prize (9.230 euro) is not preserved, but the direction is now to support in a capacity of 9,500, the $ 8.767 million). In the chart below, we support the blue line.
In the summer of 2019 at the latest, this was a very important level. The price was three times the support. As for the course, when on the 24th of september, it was broken it went fast. In just one day, reduced the value of the bitcoin, with more than a thousand dollars.
At the end of October and beginning of november, is 9.500 dollars just to be a strong resistance. Even after president Xi Jinping of China said that the blockchain but the cool thing is that I have the bitcoin to the value to be retained. And at the end of January, was bitcoin as a resistance to 9.500 us dollars.
That’s bitcoin, yesterday, support held and the price is favourable. The bar can now be used as the basis for a further growth.
We have the soil in there?
The difference between the market price and the Relative Strength Indicator (RSI) shows that we have the soil already in the ground. Pay close attention to, it means that the course is otherwise moving, then it is an indicator that, in this case the RSI is.
You can see in the top chart below, then back in. So as you zoom in, the chart below shows the share price over the past few days. The formation of the price for each will be lower. However, the RSI (bottom of chart) is moving just slow it up, there will be the formation of ever higher.
This is usually a sign of a recovery in the stock price, as it is now.
The Golden cross, there will be a good time to
For the first time in over ten months there has been a golden cross for all to see on the bitcoin price chart. A golden cross is a cross between two moving averages, or Moving Averages. The 50-day Moving Average (in red) rises above its 200-day Moving Average (in green). They do not need to necessarily be those two lines, but they are still one of the most popular among the analysts.
A golden cross is a positive sign. In other financial markets, is a golden cross, in order to show that, in the case of a bull market, a period in which the exchange rate long-term continue to rise.
What happened to the last golden cross?
A golden cross in the short-term are already in effect. For the last time, to 22 april 2019 at the latest, it was the share price up 165% in 65 days!!!
Bitcoin is at $ 25,500?
With a little thought experiment, if we take this line-continue on to 2020, we end up with 25.520, the $ 23.570 euros) on the 23rd of april. Okay, so this may be a bit far for you, but with bitcoin you don’t.
It could also be the other way round
But before we get to the champagne bottles arrive, it is wise to have a few more days to wait. There is one example in the history of bitcoin is that it is wrong.
On the 11th of July, 2014, there was a golden cross. The flags were hung out, everybody thought that bitcoin in no time, thousands of dollars went. Instead, it took months for the real bottom has been found. The share price declined thereafter, with a 75 percent down to $ 150 (138,50€).
Bitcoin block halving is almost
But a drop of such a size, it seems hard to believe, it is the next bitcoin block halving, in the long term. A lot of analysts are in agreement that this event will have a positive impact on the share price.
During the bitcoin block halving, the reward for bitcoin miners is divided in half. This is a reward, it is at the same time, the inflow of new bitcoins to the market. The supply of new bitcoins decreases, and the same question can be positive on the price.
This reduction is to be in the range of 210,000 transactieblokken place. On average, every ten minutes there is a new transactieblok, so this is roughly every four years. With only two of the bitcoin block halvings in the past, there are only a few examples in order to be able to speak of a trend, but in the last two halvings were all very positive.
The next half is it is almost. According to the most recent estimate is of the halving on the 12th of may, at half past 8 in the morning.
What we have this week, of course, expect
But let’s not be too far in front of us. What do we expect of this week, the bitcoin price? We are looking for both a positive (bullish) and a negative (bearish) scenario.
Bullish
First bitcoin is $ 10,000 (9.230 euro) will have to be overcome. This then leads to the highest point of the year is in sight, at $ 10,500 (9.700 million). At this level, we give in the graph below, the blue line.
Bearish
Yesterday bitcoin support in a capacity of 9,500, the $ 8.767 million). Will the share price fall, this is the first level in order to keep an eye on. The second support is situated not far from bottom, which can be found on-9.100 dollars to 8,400 euros).