In the world of cryptocurrency is it’s sometimes so fast that your eyes don’t believe any of it. That had been the case at all. The bitcoin price has been in a five-minute period of time by more than six percent. You will see a good return on the price chart:
A big disappointment, but what can you do with it?
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Price support has dropped
The price of bitcoin moves are actually quite in the month between 7.100 euros (the orange bar), and 7.800 euro (the blue line) . Until today, that seemed to be in the area of 7.100 euros, with a strong support that the price didn’t seem to be under this level to be able to attend. Today it broke that bitcoin is underneath.
We are told we will be in our koersanalyse that is 6.700 euros of new support. That is, it seems to come up. The decline appears to temporarily stop at this level.
The big move was in the offing
In the past month, with the price mostly sideways movement. This period of rest, often have a kind of calm before the storm. A driver that is good is the Bollinger Bands. This one we talked about in our koersanalyse from the previous week. It is the amount of space between the top and bottom of the tire is smaller? There is often a huge battle. In a major move, there was a bit more time to come up.
The indicator tells you nothing, if this will be a breakout either up or down is. In the meantime, we can safely say that the price of bitcoin goes down.
What is the price now?
For now, it’s important that bitcoin support is still found to 6.700 eur. In the event that the price rises could 7.100 euros, a new resistance is forming. When we look up, it is less than 8500 euro, an important resistance level.
Is bitcoin even with the support of 6.700 euro? Our eyes are focused at about 5,500 euros. It is in the very end of 2018, a significant support has been, and may again support.