Bitcoin, Crypto currency, Blockchain

Bitcoin (BTC) exchange rate analysis KW25 – attack on the downward trend

After a Test of the since the beginning of February existing Support of the Bitcoin was able to bounce off course and moves to the beginning of the year current downward trend. The indicators are more bullish, however, makes the missing volume.

Summary

  • The price of Bitcoin has fallen this week, however, is increased again to the initial level.
  • A since the beginning of February of the applicable Support at 5.336,00 Euro has been tested, however, the price could bounce off it. Currently, since the beginning of 2018, lasting will be tested downward trend.
  • Overall, it comes to a neutral course evaluation. The most important Support is currently 5.730,00 Euro, the first interesting Resistance is 5.944,48 Euro.

The bullish sentiment of last week was a bit too positive, so that the rate of delivery is included in the set Stop. Who opened in the course of a Short Position, was rewarded, was the first named Target of 5.336,00 EUR. At this Level, the price of Bitcoin bounced, could now rise above the exponential moving average EMA50 and out sideways between the EMA50 and EMA100.

With a view on the daily chart,the 5.336, 00 Euro will gain a special meaning: This Level is especially interesting, because since February of 2018, apart from individual Spikes, the bottom of the bear market. According to level after the Bounce off of this Course, the hope is that the Bitcoin begins the course again. The hope of a burgeoning bull market is currently the since the beginning of the year followed a downward trend in the path whose Resistance is currently being tested.

The MACD on the four hour chart (second Panel from the top) is positive and slightly increasing. The MACD line (blue) is just above the Signal (orange).

The RSI is at 60, and is thus bullish.

The indicators look quite positive, this is what is worrying, however, is the very low trading volume. Overall, one comes therefore to a neutral evaluation.

Support and Resistance

The first Support is located at 5.730,00 Euro and thus approximately at the height of the EMA50. A further Support to the long-term support at 5.336,00 Euro by the sideways movement between the 15. and 18. June, 5.580,63 Euro defined.

The first Resistance is 5.944,48 Euro and thus approximately at the height of the EMA100. The Bitcoin should overcome the course of this Level would be an additional Resistance at the height of the plateau from the 10. To find June, 6.225,03 Euro.

Entry points, Stop Losses and Targets

At the neutral evaluation to Wait to be motivated. Risk sorts can already open a Long or Short Position, in which the Targets are described by the Resistances or Support,and the Stop Losses through the first Support at 5.730,00 Euro, respectively, first Resistance at 5.944, 48 Euro.

More conservative investors can put something more careful of their Position: In the case of a fall below the first support level at 5.730,00 Euro can be used to open a Short Position with the Target at 5.580,63 Euro, and 5.336,00 Euro. The Stop joyous event would be Loss as in the risk at the level of the first Resistance at 5.944,48 Euro.

If the price will rise above the EMA100, currently at 5.944,48 Euro, you can open a Long Position at which the first Target is at the height of the second Resistance at 6.225,03 euros and the Stop Loss at the height of the first Support at 5.730,00 Euro.

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 09:50 at 21. June created. For a deeper understanding of the concepts of rate analysis, please refer to this Link.

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