Bitcoin

These 2 reasons bitcoin is $ 10,000, which is a technical analysis of

This is the third day in a row that the bitcoin falls, all of that makes the price not the big movements of the body. Bitcoin allows dual signals, on the one hand, the break below a key support for a negative signal. On the other hand, two indicators can see why this is a good koopmoment it is. So, what can we expect from the course?

Under the strong support of

This morning, bitcoin under an key support broken the. You can see in the chart below, expressed in u.s. dollars. The red line, which is under the market price is the running average of the last 50 days, and the 50-day moving average.

This line will be included in the technical analysis is often used as a dynamic resistance and support. Also, the 50-day moving average, you will have an understanding on the direction of the trend. Since the stock price is above the line, it moves in, the bitcoin price is in a strong upward trend. That is, the trend line is now at risk because the share price is now below the line.

Another indicator is the good news

However, another indicator to let things positievers to see it. That needs some explanation.

On BitMEX, you can trade in bitcoin futures contracts. Thus to speculate on the price of bitcoin. You are able to speculate on a rise (long position) or fall (short position).

That’s one every 8 hours to calculate BitMEX interest in the position. Sometimes you need someone with a long interest to pay on a short position. In this case, there is a positive rate of interest. To pay a short rate to a long, then there will be a negative rate of interest. BitMEX to calculate this rate, the bitcoinprijs at BitMEX have to be in line with the bitcoinprijs on other platforms.

How do you use it in your technical analysis? With a positive rate of interest are most likely to be when a bitcoin is a mountain peak, at that time, to pay to the longs to the shorts. Moments like these are great sales opportunities. This is can be seen in the chart below.

However, at this time, there is the issue of negative interest rates, and the shorts pay the longs. And that’s usually a sign that bitcoin is a bottom has been reached. These are the moments that we have on the chart, highlighted with green squares. So, it may well be that, in the course, not drops, but here is the bottom has been reached.

Also, Puell Multiple gives the bottom of

Another indicator is also showing you why this is just a moment in time, it is to get bitcoin is to buy it. The Puell Multiple of an index. You have to calculate it by the daily issue of a bitcoin in dollars, and dividing that by the 365-day average of the daily issue of a bitcoin in us dollars.

You will then receive the balance of the day to day issue in comparison to the average in the long run. The number is between 0.3 and 0.5? It is a daily issue in u.s. dollars at a historical low. This is a very good koopmoment, and the green line in the chart below.

At this time, if the price is going to be in the green zone. According to this indicator, this might actually be a good time for bitcoin too.

What’s the exchange rate for the next few days?

The break below the 50-day moving average, this indicates that the upward trend ever could be. On the other hand, the negative interest rate on BitMEX a posiitief character. The Puell Multiple shows in a koopmoment to see it. The duplicate signals are, so to say … What is the exchange rate in the short-term? As always, we will describe two scenarios: a positive (bullish) or negative (bearish).

The chart below shows the price of may up to the present day, each and every candle on the chart is set to four hours.

Bullish
Keeps bitcoin on top 9.100, the $ 8.118 million), and the orange bar on the graph? The course is prepared for a further increase in the direction of $ 10,000 (8.921 million), which is the green line on the chart. This is a powerful psychological threshold for many investors.

Bearish
Is falling bitcoin is 9.100 usd (8.118 euros) to the first support. Drops the price below it, then bitcoin is probably 8.700 usd (7.760 euro), there is strong support. In may, the share price had not managed to get below this level.

About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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