Analyze charts: what will happen to the price of Bitcoin Bitcoin Cash after hardforka

Analyze charts: what will happen to the price of Bitcoin Bitcoin Cash after hardforka

03.28.2019 0 Author Crypto

1-week schedule

Despite a slight drop on a smaller scale, on the 1-day chart Bitcoin still looks good. Cryptocurrency is still in the 'green zone' - over the past few months it did not fall below the important support level at $ 6,000 per line.

Also last week, the asset has gone beyond the boundaries of the main downtrend line, which dominates the market since April. However, contrary to the expectations of many investors, this event is not the cause of the explosive growth of the first cryptocurrency.

Illustration Source - NewsBTC

In this situation, long-term investors can buy BTC at market prices and record profits just above $ 7,000. As reported in the NewsBTC, talking about the beginning of a full-fledged bullrana, as it was last year, it is too early. Further asset price movement will depend on the market reaction to the opening of trading on Bakkt and possible approval of the first kriptovalyutnogo ETF.

1-day chart

On the scale of 1-day schedule Bitcoin is in close horizontal channel, which remains valid even from the beginning of the summer. For traders, this situation is unfavorable, since it is very difficult to trade without a clear trend on the chart.

Illustration Source - NewsBTC

Bottom line - as long as we recommend accumulate cryptocurrency (without margin trading). The Largest Long shoulder can be overcome after strong dollar line 6800. In this case, the first target will be to fix the profit level of $ 7200.

Details on margin trading and its features, read this article.

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