The Bitcoin descending cycle is completed

The Bitcoin descending cycle is completed

The Bitcoin crash seems to be finished. Entering the final month of 2019, may Bitcoin end this month with an upside move or declines to the price of last year?

Daily charts are turning up

From the beginning of November, certain efforts have been done to break the $ 9,500 price level, consequently what has happened was a decline to $ 6,500 on Tuesday 25 November. The good news is that it looks like bitcoin has found its low and increased about $ 1,300 quickly above it. This was an upward switch.
Using the Bollinger Band indicator (BB), it looks like the next milestone would be moving average around $ 8,000. So with Bitcoin now swings under the range of 9,000,000. Before the price gets to this position, can you guess and keep track of your interference and be able to make the move? Let’s check other indicators.

MACD daily is upside

By using the Moving Average Divergence Convergence (MACD), it is perceived that Bitcoin is preparing for an upward move. This reference is better able to come up with the best option and MACD is dedicated, and the history has shown a reversed period will have been occurred at such point. The answer to this will be difficult, but it can be a great point for bulls.

Bitcoin CME futures

The Bitcoin CME gap has clearly shifted to a permissible trading price by next week. On November 29, the CME market is priced at $ 7,800, while Bitcoin is currently trading at $ 7,300. This shows that if bitcoin gap is fulfilled by next week, it will experience a 7% growth. Where possible, it has become a valid quality benchmark for this digital asset. And it has been used by traders simultaneously.

Weekly RSI

The last upside indicator in daily diagnostics that I can tell you is the Relative Strength Indicator (RSI). In the latest November news, the RSI indicated that the BTC / USD was declared as 17.65 at 25th of November. It reveals oversold bitcoin at the index of 30. As the RSI approaches the 30 range, the buy signal is evident.

It is so rare that such powerful indicators can have tangible bullish signals, does that allow another parabola move? Or there is something we cannot perceive?

 

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