Bitcoin prices drop by 3% in the quarter, is that a bad thing?

Two weeks ago, shot the price up!!!! After a long period of sideways movement-we are going to back down. But is that a bad thing? It doesn’t, it can be the other way round.
Makes no sense for it to be read? There is No problem! Axel, you’re talking about the cryptomarkt. Please note that the content of the technical analysis of the video can vary, as we have with the video is previously recorded:

Price drops to the support

For the past two weeks, was the bitcoin exchange rate has a strong support at 8.100 euros. It seemed like the course, it doesn’t matter, it would be able to lower it. But that’s what happened this afternoon, at a quarter past two. The price of a single bitcoin dropped down to less than a half an hour, with a two to three percent. Bitcoin is less than € 8,000-worth. And, for the Americans among us: the stock price is now well below the psychological threshold of 9,000 dollars.

So what does this mean in the long term.

We zoom out from the graph, in order to get a better view. And you can see it’s actually not that bad at all.
In the past few months, the bitcoin, but if you don’t have a downward trendline to break. On the evening of the 25th to the 26th of October. And then it came to the race with a lot of violence from the blue-line. And that is an outbreak, it is very important, it is the indication of a new upward trend.
The price is not support in the green zone. But there’s still nothing wrong with it as the price to the trend line, you can go to test them.

In the course of the second half of 2019 and also seems to be an awful lot on the course by the end of 2017, until the end, in april of this year. In this course, you will see on the chart below. Also, when it broke, bitcoin is a downward trend, and found that the rate of support at a very important point. Will the history repeat?

In the bigger picture, bitcoin is more often broken

When in doubt, zoom out!!! That is to say, they once in a while. So we zoom out, we are still in the graph. You have to look at the entire history of the bitcoin price. On the graph, you can see the most important moments of the course occurred:

These are two of the most recent outbreaks. You can see that the bitcoin price following a breakout first for a while sideways move. But after that, it goes at a fast pace. The price increases is structural, and until the price reached a new summit. And that’s where it starts the cycle all over again:

Two of the scenarios

Can we see some more action on the bitcoin exchange rate to expect? We have the objective bitcoinbroeders, so you can have one of our two scenarios, on it’s way!

In the event that the market price is rising can be in the bitcoin, the old peak at around 9,500 euros to look. There is a significant weerstandszone.
But it will drop the price, then we can decline to be expected in the direction of 7.200 euro. To do so, it is the rate to find support at the trend line. If the stock price falling fast is that support at 7,800 euros.

Who will win in the Ledger?

This week, we asked you to use the exchange rate of bitcoin is to predict the future. This is not easy, and the price of bitcoin moves a lot up and down. The winner will be able to be found in the comments on our site. Congratulations, Megan! You have the Ledger Nano is as soon as possible, your way 😉

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.