Bitcoin (BTC/USD) Market Beefs Up, Recovering Losses
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Bitcoin Price Prediction – September 8
After tangible formations of prices swerving to create bearish erratic bottoms between the lines of $26,000 and $25,000 in the operations of BTC/USD, the crypto market now beefs up from the lesser point, recovering losses back toward the larger figure.
Between the resistance levels of $27,500 and $28,000, the main decelerating line against the current forces upward has become stalled. Since a retest or revisit of the lower spot could result in even lower values at the end, the market had to maintain building the rise at the higher half of the high value line it secured throughout yesterday’s session.
BTC/USD Market
Key Levels:
Resistance levels: $27,500, $28,500, $29,500
Support levels: $25,000, $24,000, $23,000
BTC/USD – Daily Chart
The BTC/USD daily chart showcases the crypto-economic market beefing up, recovering losses from the trend lines of the moving averages.
The 14-day SMA indicator is at $26,859.29, above the $27915.47 point of the 50-day SMA indicator. A pull purposely made in the end to only touch the smaller moving average will potentially lead to the price reversing a bit. The stochastic oscillators are making efforts toward crossing northbound from around the value of 50 to places between 51.38 and 59.29 points.
Will the running against the points of the current BTC/USD market’s SMA values be smoother on the north side?
It appears not to be going to be a free upward push in the subsequent rising operations in the BTC/USD market, given that the crypto’s coin beefs up from the support of $25,000 and is recovering losses toward the resistance line of $26,000.
The $25,000 trade line should function as a crucial support line for a while in order to maintain the upward swing before thinking about any other crucial trade locations. If marks between $27,500 and $28,000 are breached, the current swing high force will be maximized.
Sellers run the risk of quickly being whipsawed if they trade alongside a bearish-moving motion at the bottom base of the bullish candlestick generated yesterday. Therefore, when multiple rejections are seen at higher resistance lines, it would be a better time to short the market.
BTC/USD 4-hour Chart
The BTC/USD 4-hour chart showcases the crypto-economic market beefing up from the trade arena of the smaller indicator to touch the higher counterpart as the price recovers losses toward the barrier value of $27,000.
Under the 50-day SMA indicator is the 14-day SMA indicator. The stochastic oscillators have entered the overbought zone after a string of ranges that have been closely below the smaller moving average, maintaining values between 92.71 and 100.00. That suggests that it would theoretically be best for purchasers to exercise caution while opening up brand-new long positions. Investors, though, are an exception.
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
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