News: Bitcoin Technical Market Analysis 18th September 2019

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Transcript:

0:00:00 Bitcoin Technical Market Analysis 18th September 2019

0:00:05 This update is brought to you by “CoinCheckup News Updates” and was originally published on “BitcoinNews.com”.

0:00:11 In the midst of the working week, market participants have decided to organize slow price dance in the narrow range of $10,150-10,300. Yesterday’s attempt to break through $10,300 ended deplorably for Bitcoin buyers.

0:00:27 During the next attempts, the price did not cross this price mark.

0:00:31 Thus, sellers have shown control over this price mark.

0:00:35 As we can see, sellers were unable to get out of the narrow corridor of consolidation.

0:00:40 At the same time, the volumes increased and the candle which formed with a pin showed that there was already buyer territory.

0:00:46 Pay attention that the consolidation breakthrough attempt was on identical increased volumes as in case of $10,300 breakdown attempt.

0:00:55 In our view, it means that consolidation will continue because, although volumes are increasing over the range, they are not big enough to create a trend movement.

0:01:03 On a daily timeframe, we see a slowdown of sellers fall, accompanied by low volumes.

0:01:08 We also drew a local trend line of buyers from 29 August.

0:01:13 However, look out for the purple zone which buyers couldn’t control.

0:01:17 Now, they have this chance.

0:01:19 In that case we will expect a steady increase in both the price and the marginal positions of buyers in a few months.

0:01:26 Sellers continue to be mysterious and do not show their mood.

0:01:29 We are waiting for the price exit from consolidation and the continuation of the wave formation in the global triangle.

0:01:36 We wrote about it in the last Bitcoin analyses.

0:01:39 Let’s have patience and do not lose hope for a strong movement which always begins when no one is waiting.

0:01:45 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “BitcoinNews.com”, who originally published this news update on their website.

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