BTC course analysis KW35 – 4000 Euro mark exceeded!

After a quite stable week start, the course began to rise from the 29th of August and reached a new all-time high with 4,961.83 USDĀ (4,183.83 EUR).

Summary
  • The Bitcoin rate has risen during the week.
  • On September 2, the price rose to a new all-time high of 4,961.83 USD (4.183.83 EUR) after a tallying rally, but has since then fallen to 4,714.46 USD (3.975,24 EUR).
  • The most important short-term resistance – before the all-time high – is USD 4,806.47 (EUR 4,052.83), the most important short-term support is USD 4,632.68 (EUR 3,906.29).

And again, an all-time high! In addition, a new, historical result has been achieved by climbing prices over EUR 4,000! However, it is to be noted that since the all-time high the course has been in the case, the 50% fib retraction level has been tested with regard to the price rise this week and after a slight recovery, it looks as if the 38.2% fib-retraction level. The course is correspondingly below the exponential moving mean values over one or two days (described by the blue or red line in the main panel), which moves accordingly to each other.

The MACD (second panel) is negative by the course correction after the all-time high. The MACD line (blue) is also clearly below the signal (orange).

The RSI (third panel) is at 40 and is therefore bearish.

Overall, the signs are very bearish. Understandably, some people will want to bring their flocks to dry in such a high course. A further decline of the course is to be expected accordingly. An important support is the 50% Fib retraction level at 4,632,68 USD (3,906,29 EUR ). The most important resistance before the all-time high is described by the 23.6% Fib retraction level, which is 4.806.47 USD (4.052.83 EUR ).

 

The long-term course development

Let us look at the 240min chart to further assess future developments:

We see that the course has been in an uptrend since mid-July and that the course is currently far from support and resistance. All in all, it goes up accordingly. The price and trend, which is represented by the exponential moving mean values over a (blue) and two weeks (red) respectively, are correspondingly positive.

The MACD is also positive, but the MACD line has recently fallen below the signal. The RSI has fallen sharply after rising dramatically high in the oversold area, but still slightly bullish at 56. In the medium term, the situation is bullish. The most important support is described by the support of the upstream channel and is USD 4 488.69 (EUR 3,784.87). The most important resistance is defined by the resistance of the upstream channel and is USD 5,020.02 (EUR 4,232.89 ).

Let’s take a look at the 1D chart:

Except for a devout “wow”, one can hardly say anything about this course. Since mid-July, the course has grown so steeply as never before – the experience teaches that a consolidation can come. Consolidation means buying a thing so that one does not look so worried about this development. Either way, the price increases and is far from the moving averages over a (blue) or two months (red). Looking at the 60min chart, however, shows that people are currently bringing their profits home – so you should keep your eyes open with this longer-term perspective.

The MACD is, in any case, positive, also the MACD line is above the signal. A very bullish RSI of 68 confirms this positive impression.

Overall the long term forecast is bullish. The most important support and resistance levels correspond to those in the 240min chart. Other important supplements are described by the 23.6% Fib retraction level and the exponential moving average over one or two months, respectively, and are USD 4.060.27 (EUR 3.423.63), 3.921.83 USD (EUR 3.306.90) and USD 3.573.79 (EUR 3.013.43).

 

~ posted by happy_c0der from The V Server

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