Bitcoin and the crypto markets are still juggling the same price ranges we have been for quite some time. Not much has changed since last week’s article other than Bitcoin’s current price. If you are interested in reading last week’s Bitcoin article, you can find that here: https://ncgcoin.io/weekly-bitcoin-breakdown-ideas-and-concepts-oct11/. Based on technical analysis indicators, I feel Bitcoin and crypto markets will make a drastic move soon, so let’s dive right in!
The current Bitcoin price in this article’s writing is $19,060. This is about $10 less than last week’s article. Bitcoin still holds that acceptable line range of $18,500 to $21,000. Never below, never above in most instances. In my past experiences with Bitcoin and crypto bear markets, this is the most relaxed Bitcoin downfall (based on price). Based on percentages, I have seen Bitcoin go much down in past bear markets. This does NOT mean that Bitcoin could dip down further in price from here, but there are many signs showing Bitcoin might have bottomed.
The topic of Bitcoin already hitting its bottom price (since the most recent bull market) is a massive conversation among many social media. Every time I hop on Twitter for some new crypto knowledge, I am always hit with new (almost every day) technical analysis concepts that point to Bitcoin already hitting its bottom and ready for the next bull rally. Let’s look at this chart here:
The chart shows the Bitcoin price on a long-term scale since 2015. The price has changed drastically since 2015, along with many technical indicators. One indicator that many technical analysts (such as I) use daily to help us make more educated trades is called MACD (moving average convergence/divergence). On the bottom of the chart above, you can see it showcases LMACD, which is just a linear form of regular MACD. As shown on the chart, you can see where it states “Cross” or “Cross just happened.” The LMACD has only been that low a handful of times over the past eight years, and each time it crossed back up, we went on to have a full-blown bull market. This does not mean it is guaranteed to be a perfect working indicator, but it can help you make your trading decisions. Nothing stated within this article should be taken as financial advice; doing so is at your discretion. Just know there are many technical analyst indicators you can learn about online and potentially use within your daily trading regimen! If you are one of many that hate learning about trading indicators or trying to time the markets correctly, read the rest of the article to learn how to take the stress out of crypto trading!
Trading Bitcoin and cryptos can be stressful at times. Learning how to make passive income in crypto can take that stress away. How so? Creating passive income through Bitcoin mining (you can mine other cryptos as well) can produce you Bitcoin each month without ever having to trade the volatile crypto markets. To start receiving Bitcoin as passive income each month, check out a newer, technologically advanced crypto company called New Century Gold. You can check out New Century Gold and everything they have to offer you at this site: www.ncgcoin.io. They have an extensive professional team ready to assist you and teach you how to start making PASSIVE INCOME today!
Lastly, don’t forget to give me a follow-on Twitter (@MattSenn5) for daily fundamental and technical analysis concepts, all generally crypto-related. I have been in the crypto scene for almost eight-plus years, and I will likely be for the rest of my life! But I am here to stay, so let’s chat and create your new digital financial future!
Written by: Matt Senn