Bitcoin course analysis KW 18 - stabilization after price decline

This week fell twice strongly and is now at 395. 43 EUR (450. 79 USD).

Summary: Bitcoin's course fell twice abruptly the week. This week was on 3 May 385. 80 EUR (439.81)

  • course recovered in both cases and is currently at 395. 43 EUR (450. 79 USD).
  • The course fell sharply in two places, the first price drop can be related to the DAO token sale, the second with the announcement by Craig Nakamoto. In between, especially after the second share price, the BTC course tried to recover again, although the trend is not yet broken.

Still the RSI (third panel from above) is slightly over 50, which is not enough for a bullish signal.

The Accumulation / Distribution Chart was more likely to be on the part of salesmen and fell. Only today has the downward trend been easily broken. Whether this is sufficient for a recovery of the bitcoin course is sufficient.

Short Triangle Patterns for Early Trend Changes

If you look at the course since the second of May, you can see a small triangle pattern:

This would be the basis for the fact that some movement back in the morning the bitcoin comes. Where this trend is going to be, it remains to be seen: Should the course bounce at the upper line of the triangle pattern, which is currently a light support, this would be a bullish trend, otherwise we would have to fear a price drop.

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 Base of data from cex. Io