Bitcoin Price Chart Battles Strong Technical Support
Bitcoin Price Chart Battles Strong Technical Support | bitcoin price chart

Things That Make You Love And Hate Bitcoin Price Chart | Bitcoin Price Chart

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Bitcoin’s bead to three-week lows today has acceptable kick-started a bearish move appear the aloft abutment at $6,000, abstruse archive indicate.

Bitcoin Price Chart Battles Strong Technical Support - bitcoin price chart
Bitcoin Price Chart Battles Strong Technical Support – bitcoin price chart | bitcoin price chart

The arch cryptocurrency fell to $6,252 at 7:15 UTC on Bitfinex – the everyman akin aback Sept. 19 – and was aftermost apparent trading at $6,300, apery a 5-percent bead on a 24-hour basis.

The abortion to capitalize on Monday’s move aloft the acute 10-week exponential affective boilerplate (EMA) attrition of $6,998, admitting the upside aperture of a key falling trendline, concluded up emdening the bears, as expected.

More importantly, the sell-off witnessed in the aftermost few hours has put an end to a abiding aeon of crabbed trading. The abstruse indicators accept formed over in favor of the bears, abacus acceptance to the bearish bureaucracy on the continued continuance charts.

Further, the big bead in the disinterestedness markets this morning may not augur able-bodied for BTC, as the cryptocurrency is still actuality advised as a accident asset.

Current Bitcoin Price Rally Linked To Demonetization In India? - bitcoin price chart
Current Bitcoin Price Rally Linked To Demonetization In India? – bitcoin price chart | bitcoin price chart

As a result, the cryptocurrency is eyeing a bead against $6,000. Here are four affidavit why that is attractive likely:

The Bollinger bands (standard aberration of 2, -2 on the 20-day affective average) on the circadian blueprint accept been affective in a alongside address aback Sept. 22, signaling a abridgement of bright directional bias.

As a result, bitcoin amount volatility, as represented by Bollinger bandwidth and the gap amid account aerial and low, fell to 21-month lows and 15-month lows, respectively, aftermost week.

Bitcoin price, July 11 to May 11 - bitcoin price chart
Bitcoin price, July 11 to May 11 – bitcoin price chart | bitcoin price chart

A abiding aeon of low animation usually makes way for a big move in either direction. In BTC’s case, that move looks to accept already started to the downside, with a aperture of the lower band, and may move added appear $6,000.

The about backbone basis (RSI) has breached the ascent trendline and fell into the bearish area beneath 50.00. Notably, it is pointing lower and is able-bodied abbreviate of the oversold arena (below 30.00), acceptation there is abundant allowance for a sell-off to $6,000.

Meanwhile, the choppiness basis has alone beneath the 61.8 akin and is pointing south, advertence that bearish move is acquisition strength.

A Historical Look at the Price of Bitcoin - Bitcoin 11 - bitcoin price chart
A Historical Look at the Price of Bitcoin – Bitcoin 11 – bitcoin price chart | bitcoin price chart

Further, the affective boilerplate aggregation alteration (MACD) has produced a bearish crossover.

The bearish appearance put advanced by the abrogating crossover amid the 5-month and 10-month EMAs has acquired added credence, address of BTC’s bootless blemish and a bead to three-week lows.

Notably, the affective averages angry bearish aftermost ages for the aboriginal time aback September 2014.

Bitcoin all time price chart (logarithmic scale) : Bitcoin - bitcoin price chart
Bitcoin all time price chart (logarithmic scale) : Bitcoin – bitcoin price chart | bitcoin price chart

BTC’s bead to lows beneath $6,300 comes a day afterwards the Dow Jones Industrial Boilerplate (DJIA) afford 800 points. This isn’t the aboriginal time that the arch cryptocurrency has followed the activity in the disinterestedness markets.

As apparent in the blueprint above, BTC appealing abundant mimicked the DJIA in the aftermost division of 2017 and the aboriginal division of 2018.

Looking ahead, the equities could bead further, address of the ascent band yields, and advance BTC lower.

Four Charts That Suggest Bitcoin Value Could Be At 11,11 USD Next Year - bitcoin price chart
Four Charts That Suggest Bitcoin Value Could Be At 11,11 USD Next Year – bitcoin price chart | bitcoin price chart

While abounding altercate that BTC is a safe anchorage asset, the actual amount activity suggests that it in actuality advance disinterestedness markets. This is hardly hasty as BTC is still disturbing to get boilerplate acknowledgment and investors may feel added defended with added archetypal safe-haven assets like gold (currently at $1,200 per Oz), which is additionally disturbing to column gains.

Disclosure: The columnist holds no cryptocurrency assets at the time of writing.

Bitcoin image via Shutterstock; Archive by Trading View 

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Bitcoin Chart Analysis - BTC Price Soars on Technical Breakout - bitcoin price chart
Bitcoin Chart Analysis – BTC Price Soars on Technical Breakout – bitcoin price chart | bitcoin price chart

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Four Charts That Suggest Bitcoin Value Could Be At 11,11 USD Next Year - bitcoin price chart
Four Charts That Suggest Bitcoin Value Could Be At 11,11 USD Next Year – bitcoin price chart | bitcoin price chart
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Bitcoin price: Latest bitcoin value charts as price hits record high .. | bitcoin price chart
Bitcoin: Price Can Go Higher Than $11, Chart Shows | Fortune - bitcoin price chart
Bitcoin: Price Can Go Higher Than $11, Chart Shows | Fortune – bitcoin price chart | bitcoin price chart

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