By Altcoinbase – The bitcoin (BTC) price is hovering currently above the $10.100 with a low volume of trade. There is, of course, to make it? Please refer to the technical analysis of the traderscollectief Altcoinbase.
Contents
Bitcoin (BTC) weekgrafiek
On the weekly chart (figure 1, red), it is easy to see that the 13EMA is an important indicator. An indicator of where the share price during the whole of the bearmarket has remained the same. At the beginning of april know Bitcoin is the 13EMA on the weekly is to break through the price, there is not more in some cases.
Now, a few months later, we find ourselves at the apex of the support symmetrical triangle pattern which usually breaks out to the right, where the trend is heading. The support line of this pattern is in line with the 13EMA, which, in the bearmarket, as the resistance was, and now is, when the support section.
If the support team is able to keep track of, it is likely that the uptrend will continue and this pattern will go to the top, it will break down.
Bitcoin (BTC) chart
If we zoom into the daily chart (figure 2, red), we can see that we are better in the close out of the trend. Also, we can see that we are now trading between the 50MA and the 100MA.
Within this narrow range, we can see that the 100 ma current consumption for the day to day support and the 50 MA and resistance is the. The best would be to see if we can end this trend, and the trend may follow that, at the beginning of may has been used. To do this, we need to really be on top of the $9.800 to stay.
Bitcoin (BTC), the 4-uursgrafiek
If we take a look at one of the 4-uursgrafiek (figure 3, red), you can see what kind of support levels below us, if the above scenario does not play out. To do this, there are a variety of possible scenarios which we would like to give it so they can be taken into consideration.
You have to put is often on one side of it, but you have to – obviously – to take into account a variety of scenarios. There are three strong supportlevels which, together with the different trend lines indicators. The next stop is around $9.100.
In this regard, the horizontal support, wherein the stop lies in the range of $8,000. If this is the level of the exchange rate back up to throws, this could be a bullflag forming with the targets in the direction of $14,000 each.
The level of support is just above $7.000. This is the 1.618 in this chart. This would be a perfect retrace to the goldenpocket and support is a must in order that the upward trend is maintained.
Conclusion
It remains to be seen which way bitcoin is going to choose. Yet know BTC is not resistance to $10,500 to break support levels at $9.100, $8,000 and, if the last level of a $7,000. It is a must to support, to back up, to be able to look.
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