Bitcoin (BTC) analysis by Kristin – for The price, at the time of this writing, just under $9.600 on Bitstamp. We can see the accumulation on the market, but it is also, however, a calm before the storm. This is the general picture of the current Bitcoin (BTC) market, with low volumes and little price action.
The exchange rate to fluctuate within a tight range, and it is not yet out. We will continue with this trend continuing, or seems to be, in the short term, with a move coming up? It seems to be becoming more and more difficult to predict.
The ability to predict the direction of accumulation is difficult. The price is all of a sudden a large movement, both up and down. It is, therefore, to beware of the side.
Although there is not always a good analysis and prediction. Trading with tight stops is a must, as is a large movement to be to the detriment of your position and a loss may be possible.
Contents
Bitcoin (BTC) on a daily chart
Bitcoin is, as of July, in the range of which is to tighten up on it. It is currently a strong support level of $9,000 is in a state that does not participate.
In the end however, it is getting lower and lower, and lower, as well, which you can see on the daily chart. The lower highs are a worry. A lower high pattern, it is usually an indication for a lowering of the exchange rate.
Looking at the daily chart, we can see the clear range, which is narrower on the. It would seem at first sight not so good.
However, indicators like the Stochastic we are currently on a cusp of change.
That is to say, the way up is on the horizon. In addition, the price is a good one, but a relatively small response to the major fibonacci and pivot line, S78.
That may be partly to do with the low volume this past weekend.
Bitcoin daily chart as of 1 september, 2019 at the latest BTC/USD and BitMEX)in the event that the price, therefore, to stand, and not because of the $9.000 bags, then the chances are very likely that a breakout is going to occur.
If this is due to the downward trend line, it is a new move in the direction of $14,000 each, not a surprise.
In the short term is still down?
If we have a long way to zoom in, we can see that the move down is likely. With the support of a $9.325 re-test is going to be.
A lot more will be likely to have, the momentum indicators are giving little room for movement downward.
Though it can be a fake-out to make it appear that we are down to go. So it is good to check whether or not a move is real or not.
Bitcoin 4h chart as of 1 september, 2019 at the latest BTC/USD and BitMEX)
Conclusion
There is every indication that there so at the moment the price is within the fixed range, you will have to keep moving. A break of the support or the resistance levels, it will be a great move, cause, and won’t make it to new possibilities.
This seems to be a way to the top rather than the bottom. But, as always, there is a lot that you can do. And who knows where we will be next week in the market.
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