After days with only minor Bitcoin exchange rate movements, the sell-off on Thursday for some quite suddenly. Now that Bitcoin has on volatility won, we can look at the BTC price from the daily perspective.
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The Bitcoin exchange rate is now after the big sell-off?
First of all, you can say that the$ 10,000 is still a tough nut to crack. The Zone around 9.800$ seems to make the Bitcoin to create a course. Still, we are not in a downward trend, the Support Zone has held at approximately 9.100$ (depending on exchange), the sell-off for the time being, stood.
Now the exchange rate is at approx. 9.400$ and is fighting in the Region, the month of opening. Creates a BTC from here to a new start-up to the magical$ 10,000? The battle is not to the end.
Important here will be to no lower lows in the higher time units.
In the following, Bitcoin exchange rate Chart, the main Support Zone, currently between 8.600-8.800$ is. The course should enter this Zone, we would have to assess the market, because here, a critical threshold could be reached. This Support should fall, we see a lower Low. This could devalue the current upward movement of something.
The 8000$ mark is the new Depression Zone?
Each of the moves in the crypto market, is familiar with the legendary brand is$ 6,000. In the autumn of 2018 which was the Support Zone, and the lot had to plug it in until it collapsed finally in the middle of November 2018. This is the Bitcoin price Crash which lasted until December, was born.
Shortly before Christmas in 2018, the BTC price reached the brand 3.100$. Here is the winter depression ended and the course was able to recover easily. With the spring, the Bitcoin started the Rally by 2019, ranging up to over$ 13,000.
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What we need for a other Bitcoin exchange rate upward trend?
As noted at the outset, would have to attack the cops, the 9.800$ mark again and hold it. From here then the$ 10,000 could be targeted or even$10,500 in.
This scenario should not be run in the next few weeks, we would have to keep our Bitcoin price Support zones in the eye. In particular, the Zone of 8600-8800$.
With the Bitcoin exchange rate analysis for the Sunday, we wish you a wonderful weekend.
Guest post by Cryptory
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The comments in this article do not represent any trading recommendations or investment advice.