The bearish Trend of the last few weeks was confirmed, so that the price of Bitcoin is now in front of it, in a new bear market dive. Even the sliding mean of the last 200 days proved to be a strong Support. A few Altcoins were able to benefit, in spite of the bear market. Stellar Lumen belonged to, thanks to the Coinbase Listings to.
Of Bitwala Trading Team
On the 27. September 2019 BTC$8.007,86 -4.06% part Facebook Twitter LinkedIn xing mail
in The last rate analysis addressed Concerns of The Bitcoin confirmed:-price broke below Support of the Triangle Pattern. Since then, of course, knows only one direction: downward. The big question that many of the employees: Is it time for a new bear market?
Bitcoin: Poor prospects after the fall
The daily chart and the next week’s charts will be discussed on the example of the value of pair BTC/USD on the exchange Bitstamp.
In the last five days, the Bitcoin price fell by 20 percent. Even the average of the last 200 days could not be used as a Support. This currently falls roughly with the 50-percent Fibonacci Retracement Level. On the Basis of these Fibonacci Retracement Level, the next Support can be about 7.200 US dollars.
Test of long-term Support
In the weekly chart perspective, we see an upward channel that gave the Bitcoin rate from 2015 to 2017, a rough guide to the Resistance was broken the same in the bull market in 2017. In the Crash of November 2018, the Bitcoin price fell below the Support, this downward channel. In may 2019, Bitcoin could rise again in the same. In the subsequent Bull Run has been tested the Resistance of this upward channel, however, stand.
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Currently, the Support of the upward channel threatens to be broken. Hope makes the weekly EMA-Band, which is a very strong Support. Should, however, fall under this Band, we were clearly in a bear market.
entries in bull markets were often accompanied by a rise in the Bitcoin price over the EMA Band. These bull markets are held in two to three years. Should however fall Bitcoin under 7.700 US dollars, would be the hope of a bull market for the time being a thing of the past. The bearish Trend of the last few weeks could turn into a bear market.
Bitcoin price is manipulated before the end of the contracts?
What triggered the collapse? According to Arcane Research, institutional investors have manipulated the price of Bitcoin Futures. There should be signs that the Bitcoin should drop the course shortly before the Settlement by approximately two percent. According to the data it’s supposed to be in 75 percent of the considered futures contracts such a price slide. With the direct allegation of a malicious Manipulation, one should be careful: It can be a matter of Hedging on the part of investors.
Coinbase: New crypto-supplements
Where falls the rain, the sunshine Not everything is negative on the crypto-market. Coinbase listed three new crypto-currencies and enables its customers to trade with Stellar, Chainlink and Algorand. Especially in the case of Stellar, the news were paid To 18 percent of the Stellar rose-rate.
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.
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Charts on 27. September 2019 using trading view created.
USD/EUR exchange rate at the time of writing: € 0.92.
The market comment was written from the Bitwala Trading Team. Bitwala provides the easiest and safest way to buy Bitcoin directly from a Bank account and to sell. More info here.
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