Today Uncertainty The key remains the average of 200 daily chart periods.
We will see
Today the average line MA of 200 periods tries to win the price again after days of being the price between the line of 200 and that of 20.
Yesterday the price ended below the 50-period daily chart median line and generated more uncertainty in the crypto market.
Let's analyze what is happening with the supply of Bitcoin in the exchange wallets
Investors today are buying and selling Bitcoin at these prices, many days of uncertainty make the undecided sell and buy from long-term investors
Today's balance is 87 bitcoins 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 Exchange wallets. In the week 13383 Bitcoin in full fall have bought.
This uncertainty may be causing Bitcon's price to not recover as soon as expected
Bitcoin price candle analysis
Yesterday the candle ended below the 50-period MA but today it is piercing it up again.
At the time of writing this article, the price of Bitcoin is being supported on the 200-period MA line, 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 higher, the 200-period MA, daily chart, could be the beginning of a bullish movement but it should be confirmed in the next few days
If the candle ends the day with a candle below the 200-period MA, daily chart, bad signal, it would be 3 days of being below the middle lines.
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
To be attentive
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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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