Bitcoin, Crypto currency, Blockchain

Bitcoin (BTC) exchange rate analysis KW26 – Continue to go in the downward channel

After a Test of Resistance from the downward channel of the Bitcoin price fell below € 5,000. Although the course was able to recover since then, however, he moves only sideways. The volume of trade is still very low.

Summary

  • The price of Bitcoin has fallen this week.
  • After a Dump on the 22. June moves the price of Bitcoin is now sideways roughly between € 5,200 and 5,400 euros.
  • Overall, it comes to a neutral course evaluation. The most important Support is 4.958,48 Euro, the first interesting Resistance is 5.561,46 Euro.

As well as other crypto-currencies is Bitcoin, currently, is not good. The course moves since the beginning of may in a downward channel, whose Support has been tested several times. The Resistance corresponds roughly to the exponential moving average EMA100, which could not be overcome since the middle of June. The Situation corresponds to that described in the Altcoin-market analysis short.

In the last price fall of Bitcoin has fallen-course temporarily under the long-term-Support, is approximately 5,000 euros:

The MACD on the four hour chart (second Panel from the top) is negative, but increasing. The MACD line (blue) is above the Signal (orange).

The RSI is at 47 and is thus neutral.

Under consideration of price, Trend, indicators and trading volume to get to a neutral evaluation.

Support and Resistance

The first Support is 4.958,48 Euro and thus approximately at the height of the week minimum. Another Support lies at 4.578,24 euros, and is defined by the Support of the downward channel.

The first Resistance is located at 5.561,46 euros and thus at the height of the EMA100 and the Resistance of the downward channel. The Bitcoin should overcome the course of this Level would see further Resistance at the height of the plateau from the end of June,5.788, 67 euros.

Entry points, Stop Losses and Targets

In spite of the neutral rate estimate could Rise to a above the EMA50, currently at 5.392,13 Euro, a point-of-entry provide for a Long Position. With this EMA50 as Stop Loss, one could choose as Targets the two Resistances.

The price should fall below the first Support at 4.958,48 Euro, Short Position, the Stop Loss is at the height of this first Support and the Target at the height of the Support of the downward channel, which is currently 4.578,24 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 10:48 a.m. on the 28. June created. For a deeper understanding of the concepts of rate analysis, please refer to this Link.

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