The price of bitcoin is behaving as if the author of this article. When he was at the snack bar, to find out, it may well not have a choice to make. Actually, it’s been there since July, and no clear trend, however, for the price of a single bitcoin on the long-term, up or down?
Today, don’t have time to read it. Then you’ve got no excuses, Axel explains it to you in a few minutes:
Contents
Bitcoin allows escape from the
It all starts now with a meme, but as long as it is relevant, we will go on as usual. Have you been to our previous analysis to read. Then you will know by now what we’re talking about. The chart below will probably be familiar for you. Every candle on the chart represents four hours:
The price of bitcoin to move between the two trend lines in this. The movements are getting smaller and smaller, until the race starts. This means that the price for a large move, and when that is out of the lines. But it is at the top or at the bottom? Wait for a period of time. Hurry up, bitcoin!
The cause of the rise in this week
The week started well for bitcoin! On Monday, the increased the price suddenly, with eight per cent, as we wrote in our previous analysis.
We have said that the price of bitcoin is a trend line had been broken, which was as follows:
But there was also something else, and that’s a negative divergence. It’s often a precursor to a rise in the share price.
In the case of negative difference, the bitcoin price is becoming lower and lower bottoms. But it is an indicator to allow correct higher bottoms are visible. It is here that the RSI is the Relative Strength Indicator. The two charts below, you can see that is shown by the orange trend lines.
The negative divergence that has played well in Monday’s race by more than eight per cent.
Times are different now than in may, June and July
We zoom in to the chart of what each candle represents one day. Are you looking for the bitcoin exchange rate as of may 2018 up to and including today:
Remember, it can take, however, may the lap of the bitcoin price like a rocket. The sky seemed the limit, and many of us were thinking that a bitcoin is before the summer, the highest value ever reached.
However, there was a snake in the grass, in the shape of a is the N-of indicator. In simple words, look to this indicator for the use of bitcoin in relation to the price.
In may, June and July colored / a N / a indicator to be red. This means that the value of all the transactions is too low in relation to the bitcoin price. The increase was unhealthy, really hard.
It’s often a good sign of a fall, as in november of 2018 and that was the case. So far, fortunately, did not come up, and the stock price took support at no less than 8500 euros.
At this time, the price is a little peace of mind. We are now at about the same level as in July, however, the N-indicator is quite a bit lower. The value of bitcoin is therefore a common relation to the transactions on the blockchain.
Always up to date with the latest cryptonieuws?
Join us at the Telegram
The Moving Average is back in a bull market
In a bull market, the stock price up. But I can’t be without bug fixes, and sometimes the exchange rate as a policy record. The value of bitcoin may, in this case, in a couple of days, with a thirty-percent decline.
That is, it is simple, but it is part of it. The cryptomarkt is still in its infancy, which means that the price of bitcoin is very flexible, it is. There has been relatively little volume is required in order for the course to be a good move to make.
How do you determine if you can get in after the correction? The Moving Averages can help you with that. A Moving Average (MA) indicates the moving average over a certain time period.
In most cases, the 50MA and the 100MA is used, in this case, on a daily basis. The red line on the chart, the 50 MA, and the orange line is the 100. You can see that the share price is in a bull market by 2017, almost always under 100 is reached. In 2018, that was a different story, we were in a bear market.
In addition, the 50 MA is in a bull market, never go under 100. This happened in the last couple of days too. In the fall of last week was a healthy correction in a bull market:
Where will the bitcoin price go?
We have had it for weeks now all over the triangle area. But what happens when bitcoin is out of the triangle break? It may be that the market just as resistance is.
We have to draw a line across the top of 2017 (16.500 euros). This line is also over-the-top in 2019 (12.185 euros). It Is this trend relevant? Then you will find bitcoin is a resistance of around 11.600 euro.
And what will happen if bitcoin is, again, not from the triangle break? Then you need to get over the initial shock, because we were there on Tuesday and again on the back. In this case, we drop down to the bottom of the triangle, that is, to around 8.800€.
Vote for us