Bitcoin-BTC recently settled with an increase in the last 24 hours of 0.5% to $ 109,086, with daily negotiation volumes of $ 43.49 billion. Although its market value reached 2.17 billions of dollars, general mood indicators suggest that we have not yet reached the bottom.
According to data from the Santiment platform, the expression “purchase exploitation” has increased through social media with the price approaching Bitcoin currency (Bitcoin) from the main levels, which historically indicates that the sellers have not yet completed their task, the real market is generally characterized by exhaustion, surrender and lack of purchase of investors in the atmosphere, which have not yet seen it.
This means that the price of bitcoin can be exposed to additional short -term pressure, before a lasting reflection of management. As for merchants, this underlines the need for caution in order to avoid becoming the prey of the traps of liquidity in the coming weeks.
Prospects for the price of the BTC / USD pair and its main levels
Bitcoin has been traveling since mid -August in a Dessig The two Bitcoin price movements at two hours show its stability around $ 109,000 after testing the support level of $ 10,300.
The average average measurement index represents 50 days (SMA-50)-which is currently stable at $ 110,340 and its counterpart is 200 days (SMA-100) at $ 114,136, the resistance barriers to penetrate in order to continue the height.
As for the momentum indicators, they are in constant improvement despite the conflict of their connotations. While the relative power index (RSI) has improved to record 47 after reaching the excessive beach, the indications of the MacD index are always negative despite the convergence of its red graphics bands, and traders attend the negotiation candles for the constituents for the bottom each time the price reaches the level of support.
Usually, such models open the way from the track to the state to increase commercial sizes, which can lead to the penetration of the nearest resistance barrier to $ 111,350, and perhaps be paved by exceeding a test of its next barrier at $ 113,500 and perhaps 114.136 barrier corresponding to the SMA line, which will allow it – if it succeeds the SMA line, which will allow it – SMA, which will allow him – if he succeeds that of $ SMA -00 to launch the $. 115,700. If he fails to penetrate it, he can fall into the support levels amounting to $ 107,300, $ 10,150 and $ 103,350, respectively.
Average currency prices and trading parameters
The current parameters lacked balance. If the price succeeds in hacking its descending channel, the momentum can change quickly and we see a contact of $ 130,000 in the medium term, so that the waves of these re-assemblies have been paved for solid departures, and this has been observed in previous increasing market courses.
Thus, traders should wait for the penetration of a barrier of $ 11,350 accompanied by an improvement in RSI reading and an increasing intersection of the MacD index. Then, they can enter $ 113,500 targeted to predictable duration and later $ 115,700, and the end of losses avoids additional losses if the price decreases to $ 107,300 with the increase in the sale.
Despite the need to be careful, the current market cycle of the increase in bitcoin remains continuous; Because it has a maximum offer of 21 million currencies and the growing institutional interest, the current reverse may not be at the end of the end, but rather a base which opens the way to continue the increase. In any case, this step can represent an opportunity for long -term investors in order to remember the currency sales in anticipation to reach the sign of a million dollars.
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The expectations of Bitcoin-Btc Bitcoin-BTC prices: why can rapid purchase use the drop in prices depending on blockchain data to be victim of liquidity traps? APPLERDIRST on Arab Cryptonews.
