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  BTC course analysis KW41 – new all-time high reached! | Bit Updates
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BTC course analysis KW41 – new all-time high reached!

Saturday, October 14th, 2017 | bitcoin updates

This week rose to a new all-time high of 4,843.31 EUR (5,725.42 USD) and currently stands at 4.820,40 EUR (5.698,34 USD) Has risen during the week. The share price reached an all-time high of EUR 4,843.31 (USD 5,725.42) and has since then remained at about this level. The most important short-term resistance is EUR 4,944.81 (USD 5,845.41) most important short-term support is at 4,294.96 EUR (5,077.20 USD). The last week expressed hope has been confirmed: A new all-time high has been achieved! The soon to be expected Hard Fork with regard to Bitcoin Gold certainly contributes their part to the rapid price increase. Just to name it: within a week, the price has risen over a thousand euros. Since October 8, a stable uptrend has formed, so the price can also hold on the exponential moving average of the last one or two days. The MACD (second panel) is correspondingly positive for these developments. The RSI (third panel) stands at 60 and is bullish. The analysis of the movements in the 60min- Chart speak a bullish language. The most important support in this chart is described by the uptrend and is EUR 4,294.96 (USD 5.077.20). Prior to this, however, the exponential moving average values ​​must be broken down for one or two days, which are EUR 4,727.28 (EUR 5,488.26) and EUR 4,601.16 (5,439.17 USD), respectively. Resistance is difficult to see in such an uptrend, but a high value can serve as an orientation a few days ago, which was at 4,944.81 EUR (5,845.41 USD). The long-term price development Can this upward trend hold? Let's take a look at the 240min chart: You can see that there has been an upward trend since mid-September, but it has been steeper for a week. Actually, this is even surpassed. The MACD is positive, but the MACD line threatens to fall below the signal. This is also the course over the exponential moving average values ​​over one or two weeks and can be stable here. The RSI stands at the top of 73. In the medium term, the situation is bullish. Support and Resistance correspond to those of the 60min chart. The last week discussed Triangle Pattern was broken and has contributed to the dramatic upward movement of the last few days. The course has now moved out of the previously considered Fibonacci retracement levels. The MACD is positive according to these positive developments, and the MACD line is above the signal. The RSI is overbought with 80. Overall, the long-term forecast from a technical perspective is bullish. Concerned voices may point to the over-sold condition of the RSI, however such developments are normal during a rally, considering the development between April and June. The most important support is described by the exponential moving average over a month, which roughly coincides with the support of the upward trend pursued since mid-September and is at 3,841.06 EUR (4,540.63 USD). The most important resistance is the same as in the charts discussed above. Here is also the blue lines that connect the last all-time high, which now also fits the current all-time high. For those who like to grab the stars, the next milestone is the 161% Fibonacci- Retracement level is EUR 6,188.19 (USD 7,291.60). In spite of all the optimism and all the good reasons for a good reason (except for touching the all – time line), one of the most important motivations for the increase – the covering with Bitcoin Gold – should not be forgotten Hard Fork on October 25th. Until then however: To the moon! [maxbutton id=”4″] Disclaimer: The price estimates shown on this page do not constitute sales or buy recommendations. They are only an estimate of the analyst.BTC-ECHOBild based on data from coinbase.com About Philipp GieseDr. Philipp Giese is an analyst for BTC-ECHO and specializes in the areas of chart analysis and technology. In addition, he is actively involved in the Krypto community – both online as the central contact person in the Slack Channel of BTC-ECHO, as well as offline as a speaker and interviewer, he always maintains the exchange with start-ups, developers and visionaries. The promoted physicist can rely on many years of professional experience as project manager and technological consultant. Philipp has been enthusiastic for many years not only for the technological dimension of cryptic stimuli but also for the underlying socioeconomic vision.View all posts by Philipp Giese

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