GET RECENT UPDATES & NEWS RELATED CRYPTOCURRENCY, BITCOINS, MLM, ONLINE BUSINESS, BEST INVESTMENT TYPE MLM BUSINESS OPPORTUNITY AND MANY MORE

Breaking

Important notice: Almost all online business are temporary only & it may be become scam at any point of the time, Hence, I/we request those who want to invest their hard earned money in that.. Please verify yourself before you invest & you are the only responsible for your own money..the website owner (www.part-time-jobs-in-bangalore.net) are not responsible for any lose, profit or scam. Admin *** महत्वपूर्ण सूचना: लगभग सभी ऑनलाइन व्यवसाय अस्थायी हैं और यह समय के किसी भी समय घोटाला हो सकता है, इसलिए / मैं उन लोगों से अनुरोध करता हूं जो अपनी कड़ी मेहनत के पैसे का निवेश करना चाहते हैं .. कृपया निवेश करने से पहले अपने आप को सत्यापित करें और आप आपके खुद के पैसे के लिए ही जिम्मेदार हैं .. वेबसाइट के मालिक (www.part-time-jobs-in-bangalore.net) किसी भी खो, लाभ या घोटाले के लिए जिम्मेदार नहीं हैं। व्यवस्थापक

Bitcoin Price Analysis Sep.25: Optimism has disappeared?

After almost a week full of optimism, Bitcoin takes a dive: Breaks the ascending trend-line and the 200 days moving average (pink line on the chart) at $6660, re-test it now as resistance and from there a free-fall, breaking the important 50 days moving average (purple line on the chart) to the major support level at $6400.

Why was that when we were all optimistic? a reason might be the SEC’s unclear statement about the ETF. It was indeed delayed, but there is still a situation of the SEC rejecting the ETF before the original deadline on Sep.30.

Now what?

  • As of writing this, the $6400 seems to hold and we might see a little correction to re-test the 50 days moving average from below, this time as resistance. There also lies the 38.2% Fibonacci retracement.
  • Or else, this move might end in the support level and ascending line around $6300. Next support areas lies on $6100 and $6000.
  • Again: To declare an end to the long bear market, Bitcoin will need to create a higher low and break past $7300 (the last major high on the weekly chart), now it seems even further.
  • From the bull side, $6520 and $6660 are now support-turned resistance levels. $6800 is still the major resistance area Bitcoin had failed to overcome.
  • Looking at the 4-hour chart, the Stochastic RSI indicator is very low, market is oversold. This supports the option for a correction back to re-test prior resistance.
  • Also, Bitcoin short positions on BitFinex had been decreased significantly.
  • Trading volume, typically to weekends, is relatively low.

Bitcoin Prices: BTC/USD BitFinex 4 Hours chart

BTC_sep25Cryptocurrency charts by TradingView. Technical analysis tools by Coinigy.

The post Bitcoin Price Analysis Sep.25: Optimism has disappeared? appeared first on CryptoPotato.

No comments:

Post a Comment