If you bought yesterday at 21:18 hours, bitcoin, and sold it to you for two minutes later? It was a three per cent profit on them. So fast it can go.
And yesterday, it increased the bitcoin exchange rate, from the bottom to the top, with close to six per cent., as shown below:
But it really took a long time, the party does not, and the exchange rate fell rapidly again. At this time, the exchange rate is approximately in the same area as the last couple of weeks. What can we do with this week’s from the bitcoin price to get?
Contents
The three main areas for bitcoin
We focus again on the chart. You are looking at the price, October 26, through to the present day. Please note that the chart is geared to the short-term. Each of the flame draws up to a half an hour.
The price is now moving mostly sideways. We have three key areas found in the graph below:
The red box is a strong resistance at around 8.500 euro.
The menu bar was at the beginning of the support, and now seems to be a resistance to it. This area is approximately 8.350 euros.
The green box is a strong support at around 8.150 euro.
As of October 30, which moves in the bitcoin exchange rate is good between the green and orange bar). Last night, a lap of the course with a lot of force through the menu bar. However, the red, the resistance was found to be too strong. And right now, we’re back to square one.
Price is being pinched
Bitcoin seems to be no clear direction to go in. And if you have to take a different way back. The price is being pinched between the two Moving Averages. And that gives mixed signals.
On the one hand, the rate of support at the 200-day Moving Average. This is the green line on the chart. This support is very positive for the investors, that gives you the confidence that bitcoin is once again in the bull market.
But, on the other hand, is successful with the bitcoin but it is not at the top of the 100-day Moving Average, coming from the orange line on the graph. Last night, and found the price to be exactly on the same line with a resistor. This can be not a good sign.
And, when the 100-day Moving Average below the 200-day Moving Average? Then, as you speak, a death cross, and that it may be possible to have a reduction in the long-term mean. But in so far as it is now, and the market price support continues to be found at the 200-day Moving Average, the lines do not intersect.
In the long term, it looks like there is still a good
We zoom out of the chart even further away from it. You can still see the two Moving Averages, but in 2012 and up to and including the present day.
Is a rise in the bitcoin price in the next few days will be above the 100-day Moving Average? Then, if the result is positive. In a bull market, is looking for the 100-day MA 200-day MA, but more and more often, at this point in the race for a new move up.
Repeat this pattern to occur, then we could be in for the next few days, so an increase was expected.
A Bull flag in the making?
And there is something positive that can work, and that it was not a bull flag. A bull flag is a koersformatie that is, in the majority of cases, it will lead to an increase in the price.
A bull flag to help you remember:
First, the price for a huge move up. That is, it is in the back of the goal.
After that, it moves in the exchange rate between the two trend lines at the bottom.
Breaks down that the price at the top end is off? The increase is as large as the mast of a flag.
And with this increase in the bitcoin exchange rate is an important trend to look for (in blue). We have to draw the line on the top by the end of 2017, up to now. You can see that the line has been in since June of this year, relevant. It may well be that this line will be in november, again, to be relevant all the time!
So, what can we, the bitcoin exchange rate to expect?
The price of bitcoin is now stable, but with bitcoin, it can go fast. As we have seen, two weeks ago (26th of October) as well! We have our scenarios-these are also based on it.
Bullish
In this scenario, the market price support is found in the orange zone on the chart. The bull flag is off? The price of the bitcoin resistance is around 10.500 euros. That is consistent with the large downward trend since the end of the 2017.
Bearish
But it is dropping bitcoin? Then you will find bitcoin support is around 6.700 euro. That is, it is in the bottom two weeks ago. Also, in may of this year, it was one of the important areas.
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What do you do about it? Predict the price in euro on 7 november to 23:59 hours, Netherlands time. You can subscribe to Wednesday, november 6, at 12:00 am.
Reacting on the news, and under the comments section of the YouTube video.
Rules of the game
Get out of the bitcoin price in euros at our koerspagina: https://btcdirect.eu/nl-nl/bitcoin-koers
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