By John from a More The (Bitcoin Consultant), people have been bearish, but the price of a single bitcoin (BTC) is the last day-has actually increased over the $10.400. How far will the stock price to rise within the descending triangle, which is a long time to show up on the charts? Click here for more information.
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Bitcoin (BTC) exchange rate on monthly chart
In the first few days of the month, the share price so far for a green candlestick to show (figure 1, red).
And even though it’s early, there is the potential for a higher low has formed on the monthly chart, which is bullish, it is!
And even though the exchange rate might not be a bull flag will be in the form of this could be the start of that, we have to go back to the 0.618 fib is around $14,000 each.
Figure 1: The month will be green to start and the potential is there for a higher low to be formed.
Bitcoin (BTC) exchange rate on weekly chart
The course has a strong support at $9.400 held, and since then has been on the rise. The week is quite a bit of green to start (figure 2, red).
In addition, the exchange rate was slightly below the 12EMA (blue line), but has once again been conquered, which would be very bullish it is.
The rate of exchange must be something of a resistance point on the daily chart, happen to be bullish to keep it off. See daily chart analysis below.
The RSI is that, first, support, was, can, have, and resistance, and the uptrend will stop. But for even more information, we will zoom in on the timeframes to the daily chart.
Figure 2: $9.400 support, and the price will be above the 12EMA what is bullish is the.
Bitcoin (BTC) rates daily graph
On the daily chart (figure 3, red), it is easy to see just how bullish the move was made. It has a number of resistance points in a single move is broken.
This is due to the blue of the resistance box, and the 12EMA and 26EMA, and 100 (purple line) is gone.
The price seems to be a moment in going to want to come to the 26EMA want backtesten. Is a rise in the price to the descendig was end of line?
Possibly, but the exchange rate will, therefore, first resistance at $10.650 need to worry.
This is a very important part of the course in order to do that, otherwise they will be a lower high is formed within the descending triangle.
Also, it is on the 4 hours chart also shows that the rate overbought, and the first to have a break you will need to have before you will try it, and resistance to breaking.
It is also interesting to note that, at the end of the triangle, a variety of interesting things to do together. The direction of the current movement from a break up, or it will take a couple of weeks?
On the 16 of september we are launching Bakkt, at the end of september and close it in CME currency futures and in mid-October, a decision will be made before the Bitwise and, VanEck/SolidX ETFs.
I expect it to be that price resistance will be found at the descending triangle and is considered the more likely we will in the coming weeks, the triangle will continue.
Figure 3: The rate has different resistances in a single movement to be broken, and shall be resistant to crushing at the $10.650 not a daily lower high is formed.
Bitcoin (BTC) rates, the 4 hour chart
The earlier a potential bear flag on the 4hr chart (see figure 4, red), it is clearly not the case. Where is everyone else, including me, were expecting that the course would be of bags, that didn’t happen.
For the price, it is now up to the point where it was a few days ago, through nowhere to be found.
There is a bullish cross of the 12EMA and 26EMA. In the short run, the exchange rate probably consolidation will have to wait, because the RSI is overbought and at resistance are likely to run into on the red line.
It is no more than $10.190 support. If the sales volume is low, it remains in the scope of consolidation, then the share price is not far posterior movement before, it will continue to rise, though it is waiting right there to back resistant to the price in the blue box.
Figure 4: The 4hr RSI has been oversold and its price would be in the scope of consolidation support can be found in the $10.190.
Conclusion
The race is a good show to be bullish for the a number of main resistances in a single break.
The price is on the 4hr chart is overbought and the trend will probably have to return before it can continue to rise. Support is at $10.190.
The price should be $10.650-breaking to not only have a lower high on the daily form. It is likely that the share price drops again in the direction of the bottom of the descending triangle.
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