Has started the last month of the third quarter of 2019 and as Bitcoin starts to show signs of change the bearish trend which culminated in the month of August after struggling unsuccessfully not to lose the psychological barrier of five figures. At the time of writing the market has shown signs of recovery in its total capitalization with a positive change of +0.8% to reach the figure of little more than 255 billion dollars, with a domain of the main active cryptographic 68.6%, which would mean an offspring of its domain to accommodate the season of altcoins then failed to successfully pass the level of 70 per cent. Bitcoin is traded during the writing of this post the price of $9.893 (+3,03%), then lower your volatility to be moderate and reach an RSI overbought above 80. Quote of the Bitcoin 02 September 2019 short-term in the chart of 1H to Bitcoin, we see a mild recovery after going down sharply below the 10k this past August 29, 2019 and go for a walk during the weekend in the levels of key support of $9500. Graphics of the Bitcoin 1 hour Bitcoin have broken the upper bollinger band in a couple of opportunities to start your recovery and is now key support resides in the middle tier of the cloud-wide of $9661,67 and maintained in the struggle to break definitively the immediate resistance of $9825,99 that represents the upper limit of Bollinger. The Parabolic SAR shows uptrend by drawing large dots below the candles of Bitcoin in the last 12 hours. Stochastic confirms the bullish price recovery of BTC to peek into the oversold zone with a top value of 80. In the medium term, the price of BTC is interesting in that it has not dropped sharply in this chart, and maintained a impulse wave of elliot who many expect to have a final back above the psychological barrier of the 10k. The relative strength index is barely peeking out in the boundary area of purchase-sale for this time frame, indicating the possibility that BTC will fade away in its momentum, by the little pressure of the bulls. Awesome Oscillator is still negative with histograms of red, each time more pronounced, indicating that in the medium term, the main asset you can fall back to lower levels of 9.5 k as many analysts anticipate including in the area of 8k. Aroon for his part, is quite pessimistic with its indicator bearish at the top of the chart, but gives a slight hope with his tilt at the bottom but with a long way to go. To conclude, Bitcoin has not had a positive closure in the months of July and August 2019, which presumed a negative reaction to a short-term improvement, but a possible candle green in this month would break that pattern. While the publication of Bakkt is a good news for BTC, it all depends on the market prices between Bakkt and investors alleging in an increase in the volume before pulling the trigger. The following two tabs change content below. Engineer and passionate about technology, Blockchain and the Bitcoin since 2009.
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