you don’t want to control, the price will drop to $8,500 of?

By John from a More The (Bitcoin Consultant) – Bitcoin (BTC) is at the time of this writing, is $9.573 from Bitstamp. The price is finally getting bearish out of the symmetrical triangle was broken, as I did in my earlier analysis of this week.
What can we do over the next period of time want? A correction back to the $7.500 – $8.500 or was it truly a ‘jump’ to the top?

Contents

Bitcoin (BTC) exchange rate on monthly chart

It’s the end of the month, so I look forward to the maandgrafieken. In figure 1 we can see that in the last three months, the ugly wicks to have been produced.
To me, this is a sign that we are further down the valleys. Is that a bad thing? However, the maandgrafiek, after a sharp rise again to consolidate.
Also, there is also a potential a bull flag is that is, the price is back to $20,000 and would be able to deliver. However, this means that the price is within the channel and have up to a $7,500 can be reduced. The potential of soils have been $8.500 and $7,500 for the 12EMA (see the blue line in the graph, in red).
Furthermore, it is also clear to see that the RSI is just below 70 with a oversold signal, and then it’s going to go down.
Figure 1: The Ugly wicks on the monthly chart and a potential a bull flag is. Targets in the flag is $8500 to $7500.

Bitcoin price weekly chart

The price is finally coming out to the weekly, the balance is broken and at the bottom. This is currently a lower high (“LH”! In (2) is formed. As long as the price is not above $10,000 – $10.100 experts find out I don’t see a reason to be bullish-to-be.
I will take a look at the next price targets to $9,000 each (on the 21EMA, the orange line), $8500 (26 EMA (red line), and about $7.500 – $7.700, at the 0.382 fibonacci level. But a single support at the same time.
For the price, it seems that even in a descending triangle and to sit down. In order to be bullish, to continue to be the rate to $9.000 – $9.100 to keep the price significantly lower.
The RSI is now below the support had dropped to the red line, and it makes the whole thing even more bearish than bullish.
Figure 2: There is a descending triangle initial goals are to escape back to the 21EMA (the orange line), 26EMA (red line), and 0.382 Fibonacci ratios.

Bitcoin price is in daily chart

On the daily chart (see figure 3, below), it is clear to see that the course now also have the support of 100 has been lost. As long as the price is not above the blue of the resistance box may come up, I’m bearish.
And of course, has had a lot of meeting of experts; 12EMA, 100 psychological threshold of us $10,000.
The price may still be bullish continuation, but it should be the lower limit of the descending triangle keep it, otherwise I just keep looking at the before-mentioned support points.
I think that used to be the lower going to look at the descending trianglebecause there is a potential bear flag is visible on the 4hr chart.
It head & shoulders the pattern (see figure 4), it is, for me, at this point in time is not valid, because of the volume of the bed are not real is present.
So, I will be in the next period of time for the analysis to take it, unless the bear, and the volume will increase enormously.Figure 3: The stock price is below the 100MA support has dropped, and it will, as it moves upwards, resistance is found at the blue end of box.
Figure 4: head-and-shoulders pattern is not valid, due to the low volume of the breakout at the bottom.

Bitcoin 4-hour chart

In the 4 hours chart is given in figure 5 below, you can see that the price is not above the 12EMA and knows how to get.
If the price further drops off the bear flag, which you can see, the price in each and every case, due to a total of $9.400 and then for ~$9.050.
In the short term I am bearish, and I can see the share price continue to slide.
Figure 5: Course below the 12EMA and the bear flag (see the bitcoin exchange rate. Support is at $9400 and $9050.

Conclusion

In the short term, I’m bearish because the bear flag and the end of the 12EMA, 26EMA, and 100.
As for the price of $9,000 each, low to lose, so I see the share price continue to slide to the support points at $8.500 to $7, 500 for.
On the higher timeframes is that there is a potential for a bull flag, that the race is even in the direction of $20,000 or a brand new koersrecord out, even though the price of $7, 500 for is going to be within a bull flag.

A new Trade training course in the development of

The online trading course is almost ready! Sign up now and get 5% discount! We also have the chance to take the course free of charge to win it! Like my Facebook /Twitter, and/or the website for the news. Rather, the trading seminar? Then my Meetup page!

New and Bitcoin News all over: Bitcoin hodlers are in the positive, Binance Lending, and “Satoshi”, the lid on the nose
To have a say about anything that has to do with bitcoin, altcoins, and the market that surrounds it? Come and visit us on Facebook, Twitter, or by Telegram.

Thank you for signing up

Cryptocurrency Market