Market Trend Analysis Bitcoin BTC
Current Market Trend Bitcoin BTC
Market report for Bitcoin BTC
The current market trend for Bitcoin BTC is Bearish. The EMA-14 has been below the two longer EMA (30 & 60) lines for over 30 days.
For an investment in Bitcoin BTC (Spot trading) one should probably wait at this point in time, as the price could still fall if the trend continues.
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How Exponential Moving Average Works
The exponential moving average gives more weight to recent prices than to prices further back in time, but the calculation does not refer to a fixed period (of n days), but takes into account all existing data series. This is achieved by subtracting yesterday's exponential moving average from today's closing price and then multiplying this difference by an exponential valuation factor.
The pattern occurs after an uptrend and consists of a doji star separated by gaps from the adjacent candles. The first candle is a long green candle and the third candle is red. In this pattern, the shadows of the doji star must not overlap with the shadows of the other two candles.
The Engulfing Pattern is a charting formation on candlestick charts that is intended to predict a negative/positive trend reversal. Therefore, it is first necessary that the market is in a recognizable upward or downward trend. The Bearish Engulfing Pattern formation consists of a red candle body following a green candle body. The red candlestick must be longer on both sides than the previous green candlestick. This pattern shows that the bears have gained the upper hand in a bull market. With Bullish Engulfing, it is exactly the opposite.
Dark Cloud Cover
The Dark Cloud Cover candle formation consists of two candles. It is similar to the bearish Engulfing candle, but its effects are not quite as negative. Nevertheless, a trader should take the appearance of this candle formation as a warning to protect the profits of his position. This candlestick formation also indicates that there may be an opportunity for a short position in the coming days. The candlestick formation appears after a strong uptrend. A series of ascending candles is eventually followed by a final green candle before the trend changes.