Bitcoin course analysis KW 13 - Back on the Rollercoaster

After a stable half week and an abrupt rise to 384. 67 EUR (438. 08 USD), the price fell yesterday to 365. 312 EUR (416. 04 USD).

Summary:

The Bitcoin tracked a stable price of about 375 EUR (427 USD) from 24 to 27 March. On 28 March, the price rose to 384. 67 EUR (438. 08 USD), but fell to 31.3 to 365. 312 EUR (416. 04 USD).

  • Current Resistance at the above 375 EUR (427 USD), support at 367 EUR (418 USD)
  • The course was extremely stable on the long Easter weekend and fluctuated by a maximum of 5 Euro (5. 69 USD). On the 28th of March, the share price rose rapidly, then fell almost until the end of the week. Since today, the course has been trying to recover. The MACD (medium panel) is slightly bearish, even if the signal (orange) and MACD (red) are currently fighting for the upper hand. The histogram oscillates about zero and is accordingly undecided.

The RSI (lower panel) is also undecided and prances around the 50th.

Quo Vadis, Bitcoin course?

As you can see above, you do not see much. So why the Rollercoaster heading? Looking at the Bitcoin price of the first quarter of 2016, the following picture is shown:

Since the beginning of 2016 the Resistance has declined and the support increases and remains in a long-term consolidation pattern. So it will be very exciting what happens by the middle of April: If the bulls manage to raise the price above the resistance described by the trend line, this could drive the price to new heights. Such a rush could come from the recent utterance of an undervalued bitcoin. After testing the support this morning, the rsistance could now be tested. However, if the price falls under the support line described by the trendline, this could be the beginning of a fairly strong downtrend.

Disclaimer: The price estimates presented on this page do not constitute a recommendation to buy or sell. They are merely an estimate of the analyst.

Image based on data from cex. io