After a prolonged sideways movement of Bitcoin price fell on the 10. June to about 10 percent. He broke through the Support that was described since February, pursued a Triangle Pattern.
- The price of Bitcoin has fallen this week.
- According to a since mid-may, continuing sideways movement, the price is on the 10. June, by the Triangle Pattern described Support like.
- Overall, one comes to a more bullish course evaluation. The most important Support is currently 6.190,01 Euro, the first interesting Resistance is at 5,620. 55 euros.
The bearish sentiment of the last week has come true; the rate fell after a prolonged sideways movement. The rate fell back to the Level from the beginning of April. About the possible reasons and long term consequences on 11. June is already a lot said.
According to the daily chart, the Triangle Pattern has been broken to lower rates. Shortly after the breakthrough of the Support of the Triangle Pattern is still used as an approximate orientation, so that it could, in principle, come to a recovery.
The MACD on the four hour chart (second Panel from top) is strongly negative, but rising. The MACD line (blue) is increasing on the Signal (orange).
The RSI is at 34 and is therefore bearish. He is, however, since 11. June on the Rise.
The indicators point to a Rebound. Overall, one comes to a rather bullish sentiment.
Support and Resistance
The first Support is at 5,620. 55 euros and is by on 11. June reached a Minimum defined. A further Support is provided by the Plateau between the 30. March and the 11. April described approximately 5.336,00 Euro.
The first Resistance is located at 6.190,01 Euro and thus at the height of the EMA50. The course should overcome this Level, would find additional Resistance at the height of the plateau in EUR 6,525,84 Euro.
Entry points, Stop Losses and Targets
The more bullish assessment of motivated to a Long Position. As Targets, the two Resistances. The Stop you should set Loss to the height of the first Support in at 5,620. 55 euros.
The course should fall under the Stop Loss to a Short Position. A first Target would be to find the height of the second Support at 5.336,00 Euro to, a second Target is approximately at 5,000 euros.
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 to at 09:53 on 12. June created. For a deeper understanding of the concepts of rate analysis, please refer to this Link.