The price of a single bitcoin (BTC) is hanging for the past few weeks, around $10,000, and this seems quite stable to stand. In spite of this, relatively quiet movement, there seems to be a battle between whether or not a total of $10,000, and to try both sides, both the bears and if there is, a lot of pressure to be put on.
This past weekend, the bears will also have to see what they can do. For the price, it is the bottom up process, and depending on the time of this writing, about $9.400. This is a very important support level and is critical to the fast show for $10,000
Because the market is very quiet and the volume is off, it is difficult to predict the market. The price is being driven by relatively small orders, which has a lot of impact on the market price.
That is, we are going back up and down side to side movement is to continue, it is likely. Though it can be a little fake-out, or a bad news message is a spanner in the works throw the.
Have a look at the short term charts: the daily and the hourly charts.
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Bitcoin analysis
Looking at the charts it looks like there is not all that exciting from it. The daily chart of Bitcoin, it suggests that the price is just for the current range to move, and this move today, it was going to happen.
With the current level of $9.400 to be an important and very much tested support level. With the addition of a few fake-outs, in the direction of $9,000 each, which are heavy, were sold.
However, we see a lower high on the price. Because of this, the range is getting smaller and smaller and smaller and smaller. A big move up or down is to be expected.
Bitcoin daily chart to August 29, 2019
Per hour
If we have a long way to zoom in the chart, on the hourly levels of description. It just looks too bullish on the short-term. For the price point, it’s key fibonacci pivot level is hit on 78 of the support line.
It is also a great way to see the next bullish candles. The Momentum indicators confirm the (temporary) bottom, and stand in line with the price action.
In general, it is often assumed that both S61 and S78 fib pivot levels and key reversal points. This is often a very safe to place an order. If there is, indeed, a roversel at this point is to take place.
Then the chances are likely that the price will go back to the zero line. Shown on the chart as the yellow line. An increase in the direction of the the $10,300 is expected.
In case the price is nevertheless due to this level drop, it will most likely be in the $9,000 each will be tested, and may be even lower. Depending on the verkoopdruk it at the moment, it is.
Bitcoin hourly chart to August 29, 2019
What is the price of bitcoin is doing?
Looking at the Stochastic, we can see that as a potential test to the bottom at the moment, very little chance of a break down and a rise is more likely. However, nothing is impossible, and it may be a sudden movement cause a chain reaction. As well as up and down.
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