In technical analysis, the fight that everyone is the same. And, if you have a really strong opinion of it may still be off. That’s what happened, for example, Peter Schiff, a staunch supporter of gold as a beleggingsmiddel, and the best anti-bitcoinner:
The Bitcoin chart looks horrible. Not only does the flag that followed the recent breakdown of project a move to $6K, but we are close to completing the right shoulder of a head & shoulders top, with a $14K, head, and neck line to just below $8K, and that it projects a collapse to below $2!
— Peter Schiff (@PeterSchiff) October 19, 2019
On the 19th of October, a tweet, and Peter Schiff is that the price of bitcoin, there are ‘horrible’ looking. And that is a drop below the two thousand dollars to even as possible. However, the opposite has happened. This past Friday, rose bitcoin, with more than 42 per cent in a single day. That’s the biggest daily increase since 2011!
You can be positive actually, it is not divorced from the news of the past week. The fundamental factors are driving the price up. This is the mentality of many analysts that the rise in price has anything to do with the recent statements from the Chinese president. However, if we are purely at the charts, look at what we can expect from the bitcoin price?
Also, this week, you will have a Ledger Nano, it’s a win! Read below on how to, or check out the video below:
Contents
The most bullish scenario to come true
We didn’t have to take into account that it would be quick, but it is the most positive scenario, it is true.
The bitcoin price found last week in the bottom for 6.600€. After that, it went quickly. Less than half an hour after Axel’s live-went on a lap of the course, due to the resistance of 7.200 euro. Around 7.800 euro, bitcoin is just taking a break, and then to the right) to almost 9,500 euros.
But, with 9,500 euros, it seemed a bit far-fetched. The share price fell, therefore, to return to 8.000 euros. That is, the level of support is from June to september. Now the bitcoin is on the more than 8,500 euros, which is a little above the support.
May be bitcoin is at this level? Then we’re back on track.
Bitcoin from a major trend line is broken
With the rapid growth of the bitcoin exchange rate has surprised everyone. You may ask yourself, or the price after such a huge increase in a short period of time or shelf life. However, it seems to come up. In the course of a major trend line is broken.
In June, the bitcoin price did not succeed to get out of the downward trend line to be broken. However, on October 26th, a lap of the course, there is a time to work through it. Not only that, but the price is also a support trend line (green arrow). That’s why we call it testing the trend line.
This is a great foundation for bitcoin to continue to rise.
Hmm, that’s familiar from the start.
You might get a vague sense of déjà vu, as the chart below shows. And that’s not correct, because the situation seems to be very similar to that at the end of 2017 to may 2019. Then, and only then on a much smaller scale:
Since the summit, by the end of 2017, the price of bitcoin fell sharply. Just as it seemed the bottom was found to be that, but on the 14th of november last year, crashed in the course of each other. That was the real bottom, and then on the 2nd of april was the time of the rate period by the trend line.
The price of it now seems to be an awful lot on the 2nd of april, when bitcoin, the trend has shifted. The FOMO to raise up: and then it increased in the course of a few months ‘ time, with a 186 percent increase. Or is it time and time again to be as spectacular is it?
Are we back in a bull market?
Bitcoin is back with a vengeance. But that also means that we’re back in a bull market is that? For many analysts, the 200-day Moving Average containing the key. Below the line means in a structural bear market. And top of the line, it is found to be positive for the long-term.
In October, the billenknijpen. The course was a month-long below the 200-MA. Some people need to worry about it. However, the price of bitcoin has to be handsome as usual. In the next few weeks, it will be clear if we go up to be able to look.
Bullish pennant in the making
If there is one type of geometric shape, where the analysts are so fond of, then it is called a triangle. A stock price is moving between the two trendlines, if you have a cat in this house. He needs to make a jump, but whichever way he chooses?
At this point, forming a bullish pennant. According to the book, it is a koersformatie that an increase can be made. The race is still on between the two trend lines in which the lines appear, along with a change to a form.
That you can see on the chart below back. The graph focuses on the short-term. Each candle represents one hour:
Moving bitcoin out of the flag? Then, the target is as large as the opening of the flags. In this case, an increase of 18 per cent expect to in the direction of the $ 10,000. As bitcoin is the end-of-the-flag, wait, we can escape by no later than 30 October at 06:00 o’clock in the morning, expect.
What can be the price to expect?
One small step to the moon, or back-to-the-ground”, that is the question. In the words of Shakespeare when he got out of his rocket, got. We are going for the $ 10,000-or we drop back? Because we will always be objective and unbiased, we will look at two different scenarios.
Bullish
The sentiment in the market has been completely turned around. The break of the trendline and the bullish pennant is positive. An increase of 10,000 euros seems like a lot, but we have been able to see that bitcoin is able to do so.
Bearish
But if it’s bitcoin, not to increase, to hold on to? Then, the first support is found at 8,000 euros. Is falling bitcoin is lower, then it will be in the bottom last week, should be interesting. In this case, drops bitcoin for 6.600€.
A Win is a Ledger of Nano’s.
Also, this week, you will have a Ledger of Nano are up for grabs. What do you do about it? The direction predicted.
How do you think that a bitcoin in the month of closing? The key to the bitcoin price in euros, on Thursday, the 31st of October at 23:59 hours.
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