The Bitcoin price broke through the Support of the for weeks traversed Triangle Patterns. In this train, the price also fell below the moving average of the last 20 weeks. Currently the price is testing the moving average of the last 200 days.
Dr. Philipp Giese
24. September 2019BTC$8.673,08 -10.93%part Facebook Twitter LinkedIn xing mail
Some suspected The signs for Bitcoin have not been there already: just positive. The price of Bitcoin bobbed dangerously close to the Support of the Triangle Pattern that has been passed through since the end of June. Also the sliding average of the last 20 weeks has been tested, an important indicator of a bull market. The volume of trade has fallen further, resulting finally in a very weak Start of the Bakkt Futures culminated. To Worry about the Hash Rate of Bitcoins, which is supposed to be like according to Blockchain.com almost 30 percent:
Also if this is on the other Blockchain Explorers such as coin.came dance and bitinfocharts didn’t do so dramatically looked this negative News to an overthrow of the Hash Rate of the round and fired the already bearish mood.
Bitcoin price is below the Triangle Pattern, like
, have been confirmed harbingers of This bearish now with a dramatic price fall. Of course you could not see the bounce off the Support of the Triangle Pattern. Similarly, the moving average of the last 20 weeks-described Support was not able to hold the Bitcoin exchange rate and so loose:
of course, on the Basis of the value pair, BTC/USD fell to the Floor of the stock exchange Bitstamp
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Bottomless is – at least for the Moment – fortunately inaccurate: Currently, the price fluctuates on the amount of the lubricant to a value of the last 200 days. If this keeps Support? Currently, all indicators are bearish, what should, however, not be surprised at such a rate fall. The RSI is deeply fallen into the oversold area. However, the Situation is bearish currently. It is therefore possible, at the latest,in case of a fall under 7.511, 41 U.S. dollars a Short Position with the Target at 5.386,80 US dollars is. As a Stop Loss can be based on the sliding average of the last 200 days, which is currently at about 8.300 dollars. A real opportunity for a Long Position is currently hard to see. When rising to the height of the average of the last 20 weeks, currently at 9.985,of 28 dollars, can be considered a Long Position. A possible Target would then be 10.949 US dollars, while Loss as a Stop of $ 9,000 can be applied.
beyond Bitcoin: markets in free fall,
For Bitcoin Maximalists, there is a small silver lining on the horizon: The crypto market is like in many Parts even more dramatic than Bitcoin. The result is that the Stable Coin Tether capitalization is now about the market place. He was able to push in a very weak Bitcoin Cash and a weakening of the Litecoin over. To Tether to fall on top of that the coupling to the US is weakening the Dollar currently: Up to 1.03 U.S. dollars, the Stable Coin could rise. After all, a Coin in the Top 10 increase, of course.
Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.
The chart images have been using trading view created.
USD/EUR exchange rate at the time of writing: € 0.91.
More:
Bitcoin-price – and Market analysis: BTC dangles on the precipice of Bakkt Futures: COO sees an indicator of future Bitcoin-course Of large blocks, Bitcoin SV and a decentralized Internet – Interview with Christoph Bergmann#Bakkt#Bearish#Bitcoin
