Bitcoin price and Market analysis: BTC soon back to more than 10.000 US-Dollar?

The current rate of development from the Bitcoin price looks like it could rise in November, the rate to 11,700 US dollars. XRP can be happy in spite of a negative quarterly report to Ripple through a price increase of 20 percent. Ethereum is a weak eventually, but it could aim for in the long term, the 320 US dollars.

Of Bitwala Trading Team
22. October 2019BTC$7.467,25 -0.12%part Facebook Twitter LinkedIn xing mail

According to the weeks to come Since to downward movement, it could be a positive development. Various signs point to the fact that Bitcoin is soon over 10,000 US dollars. We take a look at the Charts of the Top 3:

Falling Wedge is reminiscent of price movement from 2018

daily chart on the Basis of the value pair is BTC/USD on the stock exchange Bitstamp

The BTC/USD created daily chart shows us two almost identical Falling wedge. The Wedge, in which we find ourselves in now is a smaller Version of the from the year 2018. The Bitcoin should follow course to continue this pattern of 2018, this is what will happen To mid-November would be a sideways phase. After that, the price would break out to the top and his Target is 11,700 U.S. dollars to achieve. This also corresponds roughly to the Fibonacci Retracement Level at 61.8 percent.

In the daily chart of Bitcoin Futures on the stock exchange CME you can see a gap between 11.700 US Dollar and of 11,800 US dollars. Such gaps have been closed in the past, which gives the above-mentioned Target, a further justification.

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daily chart on the Basis of the Bitcoin Futures on the stock exchange, the CME created.

Ripple: Good Performance of the XRP exchange rate, in spite of ernüchterndem market report

daily chart on the Basis of the value pair to XRP/USD on the stock exchange Bitfinex

XRP created is one of the crypto currencies, which could in October, the best performing. Since 1. October, the Ripple could climb-rate to 20 percent and, in terms of Performance, the other crypto-currencies in the Top 10 behind.

With views of the market report Ripples to the third quarter of this is surprising. The company behind XRP, it's not that really good. According to the report, both the revenue of the company as well as the number of XRP tokens are gone back on the market.

Ethereum: Another Falling Wedge with a long-term, high-Target

daily chart on the Basis of the value pair of ETH/USD on the stock exchange Coinbase

The ethers created may have rate, similar to Bitcoin, a Falling Wedge in the daily chart. In the last four months of Support and Resistance of this Chart pattern have been tested. Currently the Ether-course struggles, to test the existing EMA Band to break through, and probably the Support at 140 US dollars. If the Pattern developed, however good, could be the long-term goal at 320 US dollars.

Disclaimer: The information on this page is the illustrated rate estimates do not constitute buy or sell recommendations. They are merely an assessment of the analysts.

Charts on the 22. October 2019 using trading view created.

USD/EUR exchange rate on the cut-off of 0.90 Euro.

The market comment was written from the Bitwala Trading Team. Bitwala provides the easiest and safest way to buy Bitcoin directly from a Bank account and to sell. More info here.

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