The analysis by Mr spectroscopy. Coingrats – The bitcoin (BTC) exchange rate on this particular Sunday, once again formed a temporary top at $9.800 on Bitstamp. At the time of this writing, the price to $9.661 (up 7.2%).
On Friday, June 21st lap of the race, for the first time, due to the psychological threshold of us $10,000 to get it after the 22nd of september, back to stay quotes. Steven, we are on a new milestone?
Read the analysis of the Mrg. Coingrats.
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Bitcoin (BTC) weekgrafiek
We had a very good week for the dollar, look on Bitcoin. Which is exactly what’s been happening, and what can we do in the next few weeks expect to get? First, I would like to take it out to the weekly chart (figure 1, red).
After 4 to 5 weeks, the share price from the EMA 55 is above the shot, and the monthly EMA 21 and Fibonaci level and 0.618 gewicked.
There is a nice bullish candle is formed and we are in the falling wedge break out to the top. EMA 8 is more than 21 people, in the sense that we are, in the short term, with a further increase expected.
The same is true for the RSI), and for the purpose of the EMA on the indicator. Also, if the RSI is above the 0 line and goes in the direction of the bullish zone.
I would like to have a weeksluiting the top of the falling wedge would like to see during the night (at 2 in the morning local time, the weeksluiting, ed.).
Even though we were in the dollar’s value has increased, we are still in a downtrend. It’s only over when we’re in the pink, dotted line, broken, and geretest have.
figure 1: Bitcoin weekgrafiek
Bitcoin (BTC) chart
We will zoom in on the chart, it is easy to see that we are in the red section, finally reached it and tested.
It is also the bottom trend line of the falling wedge. Three days ago, there is a bullish divergence on the MACD, and we are seeing a huge increase of up to $1,200 in a single day.
Yesterday, the exchange rate will continue, and at the top of a rise, from about $1200 to show for it. However, it is at the end of the day, the stock price considerably driven back by the bears.
Last night, I looked at the price and thought there was a chance that we have of the falling wedge again, I would need to go.
I have noticed a huge wick on the top, and the candle close under the purpose of the STF (short timeframe) orderblock. However, for the price it is today, just go on the way to the top continues, and we have been in the PROPERTY orderblock to go.
If the day candle today, on top of, you know, close it, then I think the chances are very high that we are in the parent orderblock to go look it up.
It has also proposed to the downtrendlijn that we have discussed so far in this analysis.
If we use the indicators of view, the Exponential Moving Average (EMA’s), there is a positive. All bullisch it would have been when the EMA8 and 21 EMA 55 intersect. The RSI is just in the bullish zone and after that there is still plenty of growth potential.
The MACD is about to cross, and let the strong bullish candles to see. However, we have to take into account one of the bear divergence which are able to form. For the moment, in my eyes, it hasn’t been announced yet.
figure 2: a Bitcoin chart
Bitcoin (BTC), the 4-uursgrafiek
If we look at the 4 hour chart we can see a very positive chart. After that the EMA crosses, there is a retest to the EMA8 and the price continued to move up.
For now, the current 4-hour candle of the PROPERTY orderblock a break, close above and a possible retest, this could be our new support area ($9.300 – $9.500).
Also, on this timeframe it can be a bear divergence forming, but that is my bias goes out to the bulls. I expect that we will, in the coming days, the psychological threshold of $10,000 to go look it up.
However, we have to take into account the other side of the coin, of course, and we will have a stop-loss below the orderblock when the well was broken, and, possibly, geretest it is.
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See also – Bitcoin (BTC) analysis: it is to consolidate at $9,000 each, and back up to the top?
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