At last! We are that triangle. But it is not in a good way. Only a quarter of an hour’s time, the price of bitcoin, with as much as ten percent. Also, we didn’t expect it so soon, it is gone.
But it is not only in bitcoin, delivers it in almost all of the major altcoins are going deep into the matter. So what is the problem? And what could be the reason?
Contents
A faster-than-expected
You can use the evolution of the price in the chart below. The bitcoin exchange rate has fluctuated throughout the day, around 8.800€. However, from nine o’clock in the evening, it went very, very quickly. Only a quarter of an hour’s time, the share price by more than ten percent of the time.
What to do now?
The price seems to be out of the triangle to be broken, which we have discussed in our previous analysis. However, there is no need to worry about it. The green line is the 200-day Moving Average. In a bull market, this line will often be as a back up.
Also, on the positive side, the RSI, on a daily basis at a low point. The RSI is now in oversold, which means that in a very short period of time a lot is sold. In the short term, it may be that the decline of a single bitcoin is now over. The share price has some room to go up. Click here to read all about it koersindicatoren like THEM.
Not only is bitcoin
Where bitcoin falls, altcoins are also often used. Not only bitcoin, therefore, is decreased, but in fact, all altcoins are, in percentage terms, by double-digit rates have fallen (okay, so moving forward, Tether is not).
A lot of us, we can find it in the top ten of the largest cryptomunten in terms of market value. In a small survey, the value of the largest coin:
Bitcoin-SV (-33,65%)
For canon EOS (-24,85%)
Bitcoin Is Cash, (-22,59%)
Litecoin (-18,88%)
Ethereum (-17,37%)
Binance Coin (15,07%)
XRP (-15,06%)
In the small quarters of an hour, the whole of the cryptomarkt of 18 billion us dollars (16.3 billion euros) to the value returned.
What could be the reason?
In case of an emergency as of right now, it’s still a guess at the reason for it. Even though the dust has cleared and the bitcoin are in the back again court, but you can never be one hundred percent sure of what the causal connections are.
However, there are already some indications. The first indication is, of course, is the famous triangle, where we have some time to write about it. For months, it seemed the exchange rate of bitcoin is to consolidate, and it would be nice to find one in this triangle. In the afternoon you could see the direction of the bottom side of the triangle is already tickling.
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In addition, it was also a hearing in the senate, on Balance, from Facebook, and cryptocurrency. The SEC has been a guest at the request of Maxine Waters, both of which are not really cryptominded.
The last clue is that, during the week of the last Friday of the month, with the rate for many months of the same show. During the week, when the stock price is often ten percent of the time. This is due to the conclusion of contracts on the CME. And now that we’re well into the week of the last Friday of the month.
And something odd just before the crash of the bitcoin price to decrease the hash rate, or the computing power of the bitcoin network is secure, complies with the 40 per cent! This can be found on the Corner in the city.
What do you think? Is the bottom reached?