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Bitcoin Made A Bearish Move, Entering A New Range
Cryptocurrencies turned pretty bullish in Q2 of this year, after the big decline last year. BITCOIN surged more than $10,000 higher, from around $3,000 to below $14,000 until the end of June. But, the climb ended up there and Bitcoin has retreated lower since then.
Since then, Bitcoin has traded in a range around the 100 SMA (red). But the 20 SMA (grey) started providing resistance when it caught up with the price, pushing the highs lower this month. Eventually, buyers gave up and Bitcoin made a bearish move on Wednesday, breaking below last month’s low.
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The Bitcoin Bounce: Back to $10,000
Bitcoin bounced late on Friday in a fashion that likely caught virtually all traders off guard.
Trading around $7,500 earlier in the week, BTC bounced back to tag $10,000 and has opened the week just under that level.
However, there is still a degree of mystery around exactly what went on.
The bears were out in force last week as Mark Zuckerberg spoke about the problems Libra faced. The Libra announcement proved to be a real boom earlier in the year but has since run into multiple roadblocks.
While the fallout from that was still sinking in, traders got caught off guard by an announcement by China.
Firstly, Chinese President Xi Jinping said on Friday that the country would be investing heavily in Bitcoin’s underlying technology, blockchain. This was a market mover in and of itself and from that more speculation started to develop.
Three were even suggestions that China would buy all the Bitcoin in circulation. This is highly unlikely in reality but added more fuel to the fire.
I expect this $10,000 level to hold up, but we need to be quick to act if it looks like it won’t. Another lower high here might be a good short opportunity.
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Moving Averages Keep Bitcoin Confined
Bitcoin surged higher in Q2 of this year, after going through a really bearish period in 2018. Cryptocurrencies turned bullish in Q2 and Bitcoin climbed more than $10,000, but the climb ended below $14,000. Since then, Bitcoin has been making lower highs.
It formed a triangle for a few months, since the lows were not getting lower. A support area formed above $9,000, so the triangle was getting narrower as highs kept getting lower. The triangle was broken at the end of last month and the 20 SMA, which was providing support for a few weeks, was broken as well.
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BITCOIN - Important Levels & Possible Scenarios
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hello all
Moving Averages Keep Bitcoin Confined
Bitcoin surged higher in Q2 of this year, after going through a really bearish period in 2018. Cryptocurrencies turned bullish in Q2 and Bitcoin climbed more than $10,000, but the climb ended below $14,000. Since then, Bitcoin has been making lower highs.
It formed a triangle for a few months, since the lows were not getting lower. A support area formed above $9,000, so the triangle was getting narrower as highs kept getting lower. The triangle was broken at the end of last month and the 20 SMA, which was providing support for a few weeks, was broken as well.
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hello all
Bitcoin Made A Bearish Move, Entering A New Range
Cryptocurrencies turned pretty bullish in Q2 of this year, after the big decline last year. BITCOIN surged more than $10,000 higher, from around $3,000 to below $14,000 until the end of June. But, the climb ended up there and Bitcoin has retreated lower since then.
Since then, Bitcoin has traded in a range around the 100 SMA (red). But the 20 SMA (grey) started providing resistance when it caught up with the price, pushing the highs lower this month. Eventually, buyers gave up and Bitcoin made a bearish move on Wednesday, breaking below last month’s low.
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Н4, आवेग लहर जारी है, प्रवृत्ति ऊपर की ओर है। बिटकॉइन ने बाजार में नए प्रवेश बिंदु प्रदान नहीं किए हैं, लेकिन 7823.73 की कीमत पर खरीद को पूरा कर रहा है, जो तकनीकी रूप से लगभग पुष्टि की है और पहले से ही इसके पक्ष में बैल द्वारा इसके पक्ष में प्लस 64500 पिप्स का पता लगाया गया है, एक राहत के लिए अब तक का बदला। एक मंदी की ओर स्पष्ट रूप से दिखाई दे रहा है, बंडल की चौड़ाई 25,000 पिप्स है। विचलन का निर्माण जारी है। खरीद के लिए वॉल्यूम न्यूनतम और स्थिर हैं। कीमत ओवरबॉट / ओवरसोल्ड है।
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Cryptocurrencies turned pretty bullish in Q2 of this year, after the big decline last year. BITCOIN surged more than $10,000 higher, from around $3,000 to below $14,000 until the end of June. But, the climb ended up there and Bitcoin has retreated lower since then.
Since then, Bitcoin has traded in a range around the 100 SMA (red). But the 20 SMA (grey) started providing resistance when it caught up with the price, pushing the highs lower this month. Eventually, buyers gave up and Bitcoin made a bearish move on Wednesday, breaking below last month’s low.
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विकास की बहाली के बारे में बात करना संभव होगा यदि मूल्य नीचे की ओर चैनल से बाहर निकलता है और इसे 9062.50 के स्तर से ऊपर ठीक करता है। उद्धरण 9375.00 और 10000.00 के स्तर तक उठने में सक्षम होंगे
850.00, 7812.50 पर लक्ष्य और 8750.00 पर स्टॉप-लॉस के साथ 8550.00 के स्तर से शॉर्ट पोजीशन खोले जा सकते हैं।
लंबी स्थिति तब खोली जानी चाहिए जब मूल्य 9062.50 के स्तर से ऊपर 9375.00, 10000.00 पर लक्ष्य के साथ समेकित हो और 800800.00 पर नुकसान को रोकें।
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बिटकॉइन ने बाजार में प्रवेश का एक बिंदु प्रदान किया, $ 8,319.84 की कीमत पर एक खरीद, जो अभी भी ताज़ा थी और तकनीकी रूप से पुष्टि नहीं की गई थी, लेकिन पहले से ही कुछ बदला लेने के साथ, उनके पक्ष में बैल द्वारा 63,600 पिप्स के साथ पहले से ही पता लगाया गया है। एक मंदी की ओर स्पष्ट रूप से दिखाई देता है, बंडल की चौड़ाई 13,300 पिप्स है। बाजार एक "सिर और कंधों" का आंकड़ा खींचता है। कन्वर्जेन्स की शुरुआत हुई, अविकसित, बिक्री के लिए वॉल्यूम खरीद में गया, न्यूनतम और त्वरित, गंभीर ओवरबॉट के क्षेत्र में कीमत के निशान, 93.05%।
