Bitcoin Price Analysis: $ 5546 Level One Last Time To Bitcoin Test Again?
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This BTC / USD have gained 3.5% on a day-to-day basis and are unchanged since the beginning of Wednesday. It was recovered from the recent low level of BTC / USD $ 4,948, which was at the level of $ 5,225 at the time of writing. It cites basic mathematical formulas to support BTC forecasts. It is retrieving BTC / USD within the current limit.
What’s going on?
The cost of at least $ 1 million of these bitcoins has justified it with mathematical formulas. Meanwhile a key person in the crypto industry and a famous cyber security expert believes. Which is means that they are cannot extrapolate stock market patterns to predict bitcoin price movements. He also told that it is the practical economics of digital currency.
It was completely different from one of the traditional financial markets. This bitcoin is not a great stock, and they do not have stock paradigm or formula applicable and they can expect answers written in your Twitter account. It's time to come to the public, brush your basic math skills and run some numbers, by 2020, it is impossible for bitcoin to be less mathematically than $ 1.
Bitcoin technical picture
It is clear that the sell-out can get a strong psychological barrier with the next focus on traction. This handle now serves as an initial help zone. From the perspective of Intra Day, 'Currently at $ 5.135' is 4 hours from the BTC / USD SMA50.
It is created daily by 23.6% of Fibo Retracement Weekly and 161.8% Fibo projection, And after this it is recently at $ 5,448 high. On the contrary, they will need to see moves above $ 5,360. This channel and SMA100 mentioned below are less than $ 5,000 from the 4-hour lower limit.