What is the price of bitcoin is doing? We’ll look at the graphs for the different scenarios.
The weekgrafiek to see us last week, and the price is pretty on top of the orderblock has remained the same. The lowest rate recorded this week, on top of the $9.700, while the highest quoted price at just under $11,000 is from a third party.
There is also a kind of descending triangle on the weekgrafiek, this is a bearish pattern. But at the moment, I find that it’s price is still not enough to the red line and is allowed to speak of this model.
Closes the week candle below the underlying orderblock (red/orange) on the chart, then I think we are sideways or down, you can continue.
Bitcoin weekly chart
Contents
Bitcoin chart
On the chart, we can see that the beautiful, but of the orderblock which the price of a week in the previous paragraph. We are in the one-day of about $9.700 to around the $10,300 gone. Go straight through the 4-hour orderblock which is formed in a short period of time.
Then, in the days of the resistance in the $11,000 is to be tested and there is no rubbing. This resistance level has been in existence since the end of June.
Bitcoin chart
The 4-hour chart
Looking at the 4 hour chart, we can see it today in a bearflag forming where the market price at the 200MA and the previous high was afgeketst. Even though the previous bearflag has been broken, we can also see that there is a new bearflag can be formed.
It has a confluence with the downtrend line. Chances are that we have this week, and for the fifth time in a test. The more times the line is tested, the weaker it becomes. This means that the chance of a move up.
We were there again later in the quest, then the price will drop to the orderblock of $9.700 – $9.900. The first support will be around $9.000 – $by 9,200.
Bitcoin chart on the 4 hour timeframe
What is the price of bitcoin is doing?
I think that in the coming week, first a little side to side movements, but that in the end we have the downtrend by the end of June, now have a go to break. To do this, the stock price is above $10.180 continue to be.
To close the day candle below that level. Then, I would have expected a decrease. But for the time being, I am bullish, and I hope next week to be able to say that we are on top of the $11,000 is. But we all know that a computer is unpredictable; therefore, you should also have a daily basis, to respond to the market price on the lower timeframes.
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