Analysis by Kristin – for The price of a single bitcoin (BTC) in the last week a lot of sitting to consolidate. And just before the weekend came, all of a sudden a huge movement to the standing position. With the large amounts of volume as the price went up, suddenly, with a maximum of $3,000 over the $10,000 out. With this move, nearly 45% of the plus sign is considered to be the 3rd largest movement of Bitcoin ever. In a fairly unexpected move.
The most asked question currently is whether this movement is merely a short-squeeze, or that we are officially in the bear market is to rise. On Bitstamp peaked, the price of $10.350, at the time of this writing, the exchange rate adjusted to us $by 9,200.
This is again, on the basis of the TA is to try to examine it.
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Bitcoin (BTC) chart
At the time of this writing, the price of a single Bitcoin is around $by 9,200. That’s about $1,300 and below, the top of which, last Saturday, has been impacted.
There are still a sizable increase over the course of the past few weeks. It was just over a $7,000. Currently, it seems the volume is a little watered down, and the price is consolidating for a new round.
Look at the chart to see the price action, and the manner in which the candles are formed, it is not too good. With a sizeable wick on the top of the candles, which often shows that the bears are strong enough to push the price down.
With such a large movement of $3,000 or more do, however, have nothing to do, and it may be that the last part of the move was a short squeeze.
In other words, the increase in one many of the short positions have been liquidated, so the price is suddenly an extra hit, up made.
Bitcoin daily chart, October 27, 2019Momentum indicators are popping, however, quite a move up and a similar movement up and not be so quick to follow, and the consolidation will help with the cooling of the sensor.
It is good to be seen on a lower timeframes, with the exchange rate to move slowly and without reduction or increase, but with indicators on how to reset it.
Where the exchange rate is going it will move, it is hard to say. If it’s substantially going to go down and back around a $7,000 to go hang out.
It would be the movement up just a big short squeeze, and it will be for the downtrend to the bottom of the drum. On the other hand, this pump also has a very strong confirmation of the bottom. In an unprecedented reaction, as it may well appear.
Bitcoin 4h chart, October 27, 2019 at the latest
A new pump is over $10,000, with?
If this is so, and in the end, it is officially active confirms it, then it will be a consolidation of approximately $9,000 each, as a sign of a new pump is over $10,000 and it seems to be the way up secure.
You can also read the analysis of John of Bitcoin (BTC) analysis, Bull power! A 42% increase! Price to $11.400?
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