Bitcoin (BTC / USD) Generates uncertainty. Daily candlelight is the key.
Today Uncertainty The key remains the average of 200 daily chart periods.
We will see
Today breaks the support of the 200-period MA to the downside and generates widespread declines in all cryptos.
Let's analyze what is happening with the supply of Bitcoin in the wallets of the Exchange
Investors today are selling Bitcoin at these prices, many days of uncertainty make the undecided sell.
Today 629 bitcoin were sold on the exchanges, by investors, at the time of doing this analysis
But if we analyze what happened in the week
Investors kept buying Bitcoin at these prices and withdrawing them from the exchanges' wallets. In the week 15977 Bitcoin in full fall have bought
Bitcoin price candle analysis
Yesterday the candle ended above the 200-period MA but today it pierces it again to the downside, again generating uncertainty.
At the time of writing this article, the price of Bitcoin is being supported on the MA line of 50 periods, daily chart.
There is little left for the Golden Cross, unless it is delayed in time if bitcoin falls back.
Bitcoin miners
Are miners to blame for this bitcoin price drop?
Bitcoin miners have sold more bitcoin than normal during September 6 and 7, we can see that in the graphs but it tends to become normal in recent days.
Possibilities
If the candle ends the day, with a candle, breaking down, the 200-period MA, daily chart, it would be very risky to enter the purchase of Bitcoin. I could continue correcting
If the candle ends the day with a candle above the 200-period MA, daily chart, it could be an indication that in a few days it could recover its previous values.
I had several days of breaking the MA line of 200 periods, therefore we should see several days above or below that defines a medium-term trend in the price of bitcoin
What is your opinion. What do you think will happen to the price of Bitcoin?
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Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
We will continue monitoring
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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
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