Many wonder is it a good time to buy Bitcoin?
Today I bring you the analysis according to the Gaussian Channel of 2 previous opportunities
As we see the price of Bitcoin historically in the last 2 opportunities it has broken and has remained below the Gaussian indicator Chanel has lateralized for weeks.
- Closing below this week could confirm that the downside market could last for a few weeks in principle.
If we analyze the graph we can identify the last 2 opportunities as case A and case B
Analyzing case A
We see that the price after breaking the indicator floor has remained lateralizing for approximately 300 days, and then it has pierced the rising price.
If we measure the height from the week that the price pierces up to the maximum that the 2018 price has reached, it gives us an increase of 8241% (from $ 240 to $ 18000 USD approximately).
Analyzing case B
We see that the price after breaking the indicator floor has remained lateralizing for approximately 140 days, and then it has pierced the rising price. (The number of days that case A is reduced by half).
If we measure the height from the week that the price pierces up to the maximum that the 2018 price has reached, it gives us an increase of 157% (from $ 5000 to $ 13500 USD approximately).
Currently, analyzing the weekly candles we see that the previous candle has closed below the lower line of Gaussian Chanel (downward indication)
To close below the indicator, the price of bitcoin, this week, would indicate that the price could lateralize forming a lower range as in the last 2 opportunities.
If we analyze the volume in case A and case B we see that in the volume it decreases as the downward momentum ends and 2 weekly green candles that start the bullish momentum
Generating possible good profits once the price breaks the bottom line of the indicator bullish.
What do you think?
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Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are.
Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment.
If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
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