BTC Course Analysis KW38 - Triangle Pattern in Triangle Pattern

The price has fallen this week after a dump up to 527. 33 EUR (592. 01 EUR), but was able to recover again and is currently at 538. 80 EUR (604. 88 USD ).

Summary

After several tests of the support described by the EMAs, the price fell sharply to a level of 527 on September 21, 33 EUR (592. 01 EUR) The course was able to recover, rose via EMA100 and EMA200 and is currently available at 538. 80 EUR (604.88 USD).

  • Currently the support is tested again.
  • The course did not develop the opposite signals for a few days at all. A wait of a few days led to a Kurseinbruch under the two EMAs, which stood very close together because of the tagelangen sideway course. After two days of diving, the course rose again over both moving averages and could hold itself there since then. After a dump, both EMAs, currently preparing for a bullish crossing, are being tested again - so you have to see if the course falls under the two EMAs.

The MACD (second panel from the top) is currently positive, but is just falling. The MACD line (blue) is below the signal (orange) and is ready for a bearish zero line crossover - which is less good.

This rather negative image is confirmed by the RSI (third panel from the top), which is clearly bearish with 38.

The Accumulation / Distribution Chart (bottom panel) actually rose the last week. So people accumulate Bitcoin again.

Overall, the characters speak a negative language. Although the Accumulation / Distribution Chart is rising, the price, the EMAs, the MACD and the RSI speak a rather negative language.

Triangle-Mania

It's really embarrassing to me that I get triangle patterns all the time - but if the courses give it away ... At least, since the beginning of August the course has been moving in a triangle pattern that is now at an end comes. It is extremely symmetrical, which is why it is difficult to predict where the course will develop.

RSI, at a time resolution of 240min, is at 50 and MACD is close to zero. The MACD line is currently under the signal, I do not think this bearish character is sufficient to predict a bearish breakout from the triangle pattern. The course is to be observed until the end of September to observe the direction of the breakout.

Well, this triangle pattern is in what was presented a week before. Here we are comfortably far away from the resistance and support of the great triangle pattern - and almost two months from the end of the Triangle Pattern.So let's wait for the end of the little triangle pattern!

Image based on data from cex. Io