Post by Admin
2018-12-10 06:41:44

Price Bitcoin is heading for the region declined, here are the reasons

According to the technical analysis recently, the next goal of price Bitcoin can be returned to the support 6000 USD, after the currency world No. 1 fell sudden lows least 3 weeks
Currencies electronic world No. 1 unexpected loss of $ 6.252 on the floor Bitfinex - the lowest level since the day 09.19 until now - and now only be traded at $ 6,300, down until 5% of its value over the past 24 hours.

The advantage of abortions cannot prevent 10-week moving average (10-week EMA) back on Monday, as expected, has created opportunities for the decline of BTC grandstand.
Not to mention, the sell-off in the last hour also marked an end to the period of almost 2 little changed last week. Nearly all of all technical analysis indicators have now settled on a downward trend. Besides, the decline of the stock market as causing more disadvantages for BTC, by this e-currency is still seen as a form of more risky assets.
Consequently, Bitcoins are at risk continue to be sold off about $ 6,000 because of the following reasons:
1. BTC breaching the key support
As seen in the chart above, Bitcoin has encountered indicator "Strip breakthrough Bollinger "yesterday and this event has also penetrated the support trend line is drawn between the lows on the day 06.24.2018 and 08.11.2018.
(* Bollinger Bands are technical indicators by John Bollinger built, used to measure the market volatility. This tool tells us whether the market is in a state of quiet or are volatile. when the market is quiet, bands will be narrowed and the vibrant market, bands will expand.)
This could cause "bears" deadlock because the trend line is an obstacle important for any sell-off trend in the first half of October 9.2018. Moreover, the trend line is now acting as a strong resistance against price speculators.
Therefore, the volatility of Bitcoin prices, as shown by the distance between the upper and lower Bollinger bands, respectively decreased by 15 and the minimum threshold of 21 months.
A stabilization period lasts usually be followed by another round of volatility. In the case of BTC, trending that is facing down and with the closed candle day below Bollinger, the next target to discount the possibility of the high would be $ 6,000, which was the trough of March 6.
2. All the indicators are against Bitcoin
indicator relative strength (RSI) of Bitcoin on graph 1 day penetrated the uptrend line and fell back below 50.00. However, the RSI is still quite far from oversold levels at 30.00, meaning that there are still many gaps to Bitcoin can be reduced to $ 6,000.
Meanwhile, the indicator "precarious" has dropped below 61.8, indicating that the downtrend is still extremely strong.
There is a more important indicator is the MACD has just recorded one top-down intersection of two moving averages.

3. Trading volume reached its highest level in more week trading volume on the floor
 Bitcoin Bitfinex rose to its highest level in five weeks on the day 10.12.2018. More importantly, the total volume traded on all exchanges has increased by 36% to cryptocurrency 5:18 billion - the highest level since 21.09.2018 under CoinMarketCap.
In fact, Bitcoin transaction volume has increased, thereby creating a great significance in reducing the price trend, because high transaction volume plummeted always be considered a negative indicator worrying.
4. World prices down, increase the price uprising
Large trading volume sharply trailed by world prices up BTC/USD 10%, in contrast to world prices down 7.4 increase on the floor Bitfinex.
The market breaks important support levels along with the messy situation of world prices up and down, deeper sale range is being expanded. So, it seems the direction of resistance levels are a big downside for the market is.
The slight recovery from the lowest level in three weeks to the night of 12.10.2018 may be related to excessive conditions seen on the relative strength index (RSI) in constant chart hour and 4 hours.
5. Long-term chart returns a negative perspective
Negative perspective appears due by the intersection between the two lines, and the 5 EMA 10, as is underpinned by the latest price spike today.
More serious, the average road 5, has also driven down first since September in 2014.
6. The stock market decline can create pressure on the market the Bitcoin
Owls lose of Bitcoin also took place just a day after the DOW industrial index (DJIA) of U.s. Securities also lose to 800 points. Even so, this is also not the first electronic coin world no. 1 followed the stock market.