In the time since we last koersanalyse of last Friday, the bitcoin exchange rate with 3.7 per cent increase. This Is the end of the downward trend? Some of the indicators can show at least a positive one!
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Last week rise of five per cent
Last week, we wrote about the difference between the market price and the RSI. The share price fell when, however, the RSI had just increased the soil to see. Usually this is in response to an increase in prices.
And, of course, that’s all. This past Sunday, it increased the bitcoin exchange rate and no less than five percent of the time. Today, the exchange rate was fairly stable. So basically we’re back at square one. the course is at the same level as on Tuesday of last week. When the overall price to about 7.400 euros.
The indicators have been positive
If we look at the chart, you can see it’s looking good for bitcoin. Both the RSI as the MACD indicator is showing positive momentum.
The MACD (middle graph) you can see a bullish cross. It is indicated by the circle). In the short-term line rises above the long-term range. This is often a signal for a reversal of the downward trend.
Also the RSI continues to be gradually increasing. Earlier this month, and there was even talk of a fallout. The rate was lower in the soil, but the RSI is increased, precisely in the decision.
However, the area of 8.000 euro will be a strong resistance. The bitcoin this month, and have not been able to get in excess of this level is to be increased.
Price is moving in a falling wedge
It’s been a bit of speculation, but it is also possible that the share price is a falling wedge in the form of.
A falling wedge is a koersformatie that is, in the majority of cases, it will lead to an increase in prices. A falling wedge is moving in the direction between the two downward trend lines. The breakout from a falling wedge is usually at the top).
A falling wedge is rising just as the ‘opening’ of the triangle. It is now about 3.800 euro
The Death cross is still on the prowl
However, the death cross is always just around the corner. A death cross is lowered for a short-term Moving Average is under the long-term Moving Average. The majority of analysts are comparing the 50-day MA (in red) of the 200-day MA (in green).
A “death cross” is a negative sign for the share price in the long run. In most cases, a ” death cross, namely, to have a long-term decline.
The last death cross was on the 21st of march, 2018. When it dropped the price of 7.400 euro 2.800 euro. From mid-december to end of 2018 began its course, time to recover, and it was only in april of this year, the price to go up.
What will the market do next?
Actually, not a lot has changed since our last koersanalyse on Friday. Since the price is still sideways moves that are the same, the zones are valid.
Bullish
Rising bitcoin this week to continue? It is up to 8.000 euro will be a strong resistance. The price does this month, and several times had a problem at the top level is to be increased.
Bearish
Is falling bitcoin, you can be the first to support around 7.100 euro. The price of a single bitcoin has this year and next year is not below this level. Drops to the bitcoin bottom of this area, it is 6.700 euros, with a significant following to support.