As the last of the plums prices affect Bitcoin? Analyze graphs
Source:
Recently, market players are a bit more active, Bitcoin has made a little noticeable price movement. Unfortunately, the bears still managed to push the price of the cryptocurrency down. Whether bullrun in the near future? Chances are, because the asset is still within the boundaries of the rising channel on 4-hour chart.
The Overall situation looks like this:
the-
the
- Bitcoin fell slightly below its consolidation in the short term. An asset is testing the support level of the channel; the
- good rebound in this place will allow the local to continue the uptrend and will push bitcoin up to $ 7,000; the
- drop even lower will increase the selling pressure and a new drain.
At the moment, Bitcoin is trading around $ 6350. For the past day, the cryptocurrency has lost almost 2 percent of its value.
theTechnical analysis
Moving Averages lines do not give a clear idea about the current price trend. However, the 100 SMA is now above the 200 SMA, so the path of least resistance is up. In other words, the bears are unlikely to penetrate the next level of support.
In this case, the asset should be heading to test the upper border of the channel, which is now in the area of $ 7,000. If there is a rebound, Bitcoin will grow at least to 6600 dollars at this level are now moving averages lines.
image Source — NewsBTC
Technical indicators still indicate the presence of bears in the market. Stochastic is heading down but will soon enter the oversold zone. The indicator eliminates the effort of sellers, and cryptocurrency again crawl up. RSI is already near the oversold zone and begins to change its direction.
At the moment we recommend to refrain from opening positions on Bitcoin. A good sign for long will be the rebound of the asset from the lower border of the channel at the scale 4-hour chart.
Recommended
the long-awaited summer. Niche cryptocurrency supported the event and gave unusually hot week. During the last seven days, we learned about the new line of graphics cards from AMD, the mining in TON and hard forks . In addition dealt with the profita...
Co-owner Bitcoin.org Coinbase Pro ridiculed and called a stock exchange Scam
co-Owner Bitcoin.org and most popular forum about cryptocurrency Bitcointalk.org Cobra called Coinbase Scam Pro trading platform American crypto currency exchange Coinbase. In his tweet he wrote «if you read Coinbase Pro backwards, get the word ...
The Ethereum is a cryptocurrency Scam. A new report Chainalysis
When people learned how to create a new cryptocurrency and began to build their infrastructure like marketplaces, in the field began to appear and fraud. According to blockchain auditor Chainalysis for the past two years, fraud in the ecosystem has s...
Related News
VEB and the Grozny mayor's office transferred the housing sector on the blockchain
In February, the first Deputy Chairman of VTB Olga Dergunova positively the prospects of the blockchain. According to her, the technology will improve the speed of transactions and security standards. To move from words to action ...
Hacker 1337. How to hack Etherscan not to cause any harm
Monday on the website Etherscan.io appeared a pop-up message with the numbers 1337. The visitors began to panic and spread rumors about hacking Explorer. really hacked, but the damage from a hacker attack was zero. About it writes...
Flat as a pancake: the velocity of circulation of Bitcoin repeats at least 2010
the Velocity of circulation of bitcoins has reached the lowest point over the past eight years. Investors worth more than «real» assess the prospects for completion of the bear market in late 2018. And even in the medium...
Tim Draper: we will use cryptocurrencies as regular money
Recently held a summit Crypto Invest, which AMTV interviewed renowned venture capitalist Tim Draper. They discussed the future of Bitcoin and the blockchain. The interview touched on various aspects of the niche cryptocurrency, bu...
Why Ethereum can become centralized? Expert opinion
the Developer of Parity Technologies Africa Shoden argues that the Ethereum network cannot rely on Infura for processing 10 billion requests every 24 hours. Recall Infura is a special infrastructure that enables decentralized appl...
5 the main obstacles to mass adoption of Bitcoin
it's been ten years since Satoshi Nakamoto published the Bitcoin Wallpaper and introduced the concept of cryptocurrency to the world. His radical views were a breakthrough with the help of p2p electronic cash Satoshi swung to the ...
Debriefing: the three most common mistakes traders
Even experienced traders make mistakes. There is nothing wrong, because the most important to constantly learn from their mistakes. Beginners often end up in the three most common situations: trading against the trend, trading fla...
First place: Russia has become the most popular market for LocalBitcoins
LocalBitcoins is a great tool for determining the popularity of cryptocurrencies in each country. The analysis of trading volumes of exchanges does not give the best representation of the current state of crypt in some regions. Th...
Money HYIP: how to earn on blockchain developers?
the Rapidly growing sector of the blockchain technology has triggered a high demand for inquiring minds. This has led to what is now the blockchain-engineers – one of the most highly paid professionals in the tech sector. The aver...
The zcash for hardwork was successful. What's changed update Sapling?
the zcash for Hardwork passed without any problems — the developers of a cryptocurrency successful procedure on 419 200 block. Update Sapling brought a lot of positive changes to the project. Now the network appeared zcash for pro...
2Masternodes added support for Bulwark (BWK). How many will earn?
a Week ago, the service purchases mastered and share them 2Masternodes ANON, SmartCash and VIVO. The first two coins have become too unprofitable, and the developers have not helped to solve the problem in a short time. In the cas...
Lead developer of Google went to Ripple, leading payment network RippleNet
Ripple is an American technology company, which owns the third by market capitalization in the cryptocurrency world . Before it was confirmed that the Emir of Sarangi resigned from Google to take up a post in the international pay...
Excursus in history: top 10 shocks for Bitcoin
In the history of Bitcoin each of these events deserves a separate Chapter. Revolution coin going smoothly, so it is not so easy to describe in the form of a simple list of facts. The following is a brief history of technology, wh...
The three most important events in future updates Nano. What are they?
Each project in the cryptocurrency industry needs to develop. This applies to both the Bitcoin and all other altcoins on the market. In this issue with the Nano's all good. Soon the coin will pass through a series of very interest...
Will Bitcoin rise this week? Opinions of Russian experts
this week the price of Bitcoin is likely to be released from the lateral movement, and again will fly down. About it said Russian experts interviewed by the journalists of RIA Novosti. In their opinion, the lack of positive news a...
Will be here in November. Why and how this happens?
Analyst Global Forecast 2020 Beau Pauline explains that the global stock market and the U.S. markets are on the verge of imminent collapse. This will lead to widespread adoption of Bitcoin and cryptocurrencies. Analyzing past cris...
The end of anonymity for cryptocurrency takes a fireside
of Russia as a member country of the International group development of measures to combat money-laundering FATF recommended to implement control over the circulation of cryptocurrency. Changes in legislation are expected in the n...
Pantera Capital CEO: Bitcoin on sale — buy two coins for the price of one
In his recent interview with Dan Morehead told about the situation on the stock market and commented on the future scenarios of the price movement of Bitcoin. According to the analyst, now do not miss key opportunities for growth ...
Cryptomancer: what is the most secure place in the world for crypts
Storing huge quantity of digital assets is quite risky business. The rapid growth of Bitcoin in 2017 made happy owners «fat» cryptocell a tempting target for all sorts of crooks, criminals and even murderers. Accordingly...
The Ethereum prepares for growth? The answer is on the charts
seems to be preparing for a sharp price jump. This time luck favors the bulls cryptocurrencies have all the chances for the formation of a good short term uptrend. For a start, the asset still needs to break through resistance le...
Comments (0)
This article has no comment, be the first!