BTC chart review, Sept 21 @ 19:30 PST
Here is the monthly chart from the bitstamp exchange. It has a bollinger band with the 20 month moving average in yellow.
Price is right at the 20 mma which may be providing a support level?
The heikin ashi bars are still red illustrating the downtrend. The lower wicks on the candlesticks are getting shorter which is a good sign of a potential reversal...?
Stochastics are leveling off which is a good sign for those that are long. But, it can still drop if support does not hold.........
The weekly chart has the 20 wma in yellow and the 50 wma in blue, price is under both for a bearish technical chart.
The bollinger bands are narrowing in and price with any asset will typically break out one way or another. It's just a matter of time..........................
The daily chart is from coinbase with a 200 dma in orange. (Which appears to be providing resistance to the upside since March of this year.
You can clearly see the trading range that it has been stuck in since March...
To reverse back to a bull market, it should trade above the 200 dma, the last major high 8488 and break above the upper resistance line. (To create higher highs and higher lows)
Nice analysis @glennolua, It seems clear that although we may still face some short-term lows, the strong support on the daily chart will become the starting point for a long-term bull run at some time in the future.
In future 2021 crypto is dead? what you think? @glennolua
I think most of the cryptos that are around right now will be gone by that time. BTC will always be around IMO.
It will be similar to the dot com bust in 2000, only the strongest companies survived like Amazon, Ebay, Google...
@glennolua thanx for replying........buddy tell me which coin name is survive in future 2021
I think it is safe to say that the top cryptos based on marketcap will be around. Top 15? 20? It's anyone's guess...
How much can we btc by end of this year. Can we see similar market like last year.
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The hard part of any asset is predicting where it will go in price, especially crypto assets. I have my doubts if it will follow last years mega bull market. I speculate that it may start moving in 2019.
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