With a quick Pump of the Bitcoin could be lifted-course on the 6,000 Euro mark. This means that the price has overcome since the end of last year, continuing a downward trend, and the associated Triangle Pattern. Since this Pump, the course moves in a stable above the exponential moving averages, EMA50 and EMA100.
- The Bitcoin price has increased this week.
- 12. April, the price rose since the beginning of the year, a continuing downward trend, and also the Triangle Pattern broke.
- Overall, the course is neutral. The most important Support and possible Stop-Loss is 6.340,70 euros, first interesting Resistance, and thus the first Target for common coastal 6.383,35 Euro.
12. April, the Banging came to the Bitcoin exchange rate in Triangle Pattern to a provisional end: With a hearty Pump of the price above the Resistance of the last week, discussed the Triangle was lifted Patterns. Since then, the course moves over the exponential moving averages, EMA50 and EMA100, meanwhile, performed a Golden cross. Something troubling in the analysis of the market, as mentioned above, divergence between price development and intikator development: During the course of the maxima at 13. 15. April rose, are MACD and RSI favor.
The MACD (second Panel from the top) confirmed these mixed feelings: He is still positive, however, he falls. The MACD line (blue) is below the signal (orange).
The RSI is at 55 and is thus bullish.
Overall, the impression is neutral.
Support and Resistance
The first Support is located at 6.340,70 euros and is due to yesterday’s Minimum described. Another important Support is through the course directly to the Pump from the 13. April defined in 6.123,29 Euro.
The first Resistance is by the week, maximum at 6.838,35 Euro. This Resistance coincides with the EMA50 in the 1D Chart. The course should overcome this Level, would be a further Resistance through the course of 20. March 7,479 K,00 Euro. Analogous to the first Resistance at this price level coincides with the EMA100 on the 1D Chart.
Entry points, Stop Losses and Targets
The prospects may be in the 4h Chart, although neutral, but nevertheless, one can venture a Long Position, when the Support 6.340,70 Euro as a Stop Loss is used. The first Target would be given by the first-mentioned Resistance in the case of 6.838,35 Euro, the second Target is the Resistance at 7,479 K,00 Euro. Specifically, after Reaching the first Target, the Stop is draw-Loss-Level. Here, the first-mentioned Resistance.
The course should fall under the Stop Loss, would offer the second Support 6.123,29 Euro as a possible re-entry level.
Disclaimer: The presented on this page, rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.
Images on the Basis of data from coinbase.com at 10:00 a.m. on the 18. April created. For a deeper understanding of the concepts of rate analysis, please refer to this Link.