A day after the launch of the Bakkt the bitcoin price is still not the promised fireworks are all taken care of. On the contrary, on Monday the 23rd of september, the value of bitcoin by about four percent.
It really is such a bad idea after all, because the price of bitcoin moves, it is still neat and tidy in the middle of that, we had a long discussion. But what’s going to happen when bitcoin is out of the triangle break?
Not in the mood to read it. There is No problem! Axel, you’re talking seven minutes of the race, and the latest news:
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A large triangle, a large community-wide outbreak
According to the book, it is the appearance of a triangle is equal to the difference between the bottom and the top of the open section of the frame. It’s good, it’s going to be over 4,300 euro
Let’s assume that bitcoin is right up to the last moment waiting to break out. In this case, it will be in mid-October, a large price move. So, what can we expect? We will describe the three scenarios.
Scenario 1: Bitcoin price is down to 4.800 euro
We’ll start with the most pessimistic scenario, that we’ve got that too. For example, the bitcoin price is breaking out at the base of the triangle, and the value decreased by 4,300 and the euro. In this case, we decline to expect in the direction of 4,800 euro. The good news is, though, that the price support can be found. In this zone, we give the graph with the green line.
Scenario 2: Bitcoin price finds support at 8.050 euro
In the neutral scenario, it breaks down bitcoin is also on the bottom side of the triangle. The rate decreases are not due to to the lower boundary, but found support at the 200-day Moving Average (MA). This is the green line in the chart above. The 200-day MA is often a assistance in a bull market, so it can also be the case.
The bitcoin exchange rate will in this case support 8.050 euro, and rising up from there gradually.
Scenario 3: Bitcoin price rises to 13.250 euro
It is the most sought-after scenario in the cryptowereld, that is, the value of a bitcoin is like a rocket blast. It is the objective of the triangle can be obtained in a price 13.250 euro is expected. This means that a single bitcoin will soon be the highest value in 2019 as it can get.
I can hear you now thinking, ” Nice, Frank, it can be going in all directions. What do I need to do with this?’. Using the information from the article, you may get the time from the onset to keep an eye on. It Is at the bottom or at the top? Find bitcoin support at the 200-day MA, or not at all? From there, you can then decide if it’s a good time for bitcoin, to buy or to sell.