Understand why the value of Bitcoin is on the rise

Today, after 5 weeks, the value of Bitcoin has managed to avoid the value of $ 7,800. Some indicators point to a possible return It can be given in the cards, since the value of the BTC is currently covered to a value greater than $ 8,200.

The charts that are reported daily and weekly indicate that the BTC/USD is avoiding the support given by the region the last week. ANDthe fourteenth of october I reach the maximum, at $ 8,400, it resisted 5 of the 7 days the support given by the BB indicators, currently giving a support of $ 7,860.

Last week the BTC was half the value below the BBs. Which has caused the BB lines to be tight. Thus, thus reducing resistance as presented in BTC/USD with $ 8,550, and the moving average reached $ 8,120.

In the coming weeks, Bitcoin investors need the value to remain constant, preferably with values greater than $ 8,120. So it is possivel to have a trend reversal lower than it currently has. If the value is above $ 8,550 it will cause a better resistance level on the weekly scheduled chart of Bitcoin.

Bitcoin representation per week

Due to the drop in value for Bitcoin As of mid-October, the BB gauge has been widened a bit to $ 7,633. This is the value that Bitcoin needs to hold in order for the giants to grow no further.

As observed the candles are decreasing in size. Which could be indicating that this week is the time return for Bitcoin. If we observe the RSI it will give us more information about it.

Weekly analysis of this index presented daily may indicate that Bitcoin may have a bullish restoration. After it reportedly hit 30.75 on Oct 19 and is recovering from steep behavior.

BTC mining has a minimum annual return

There is a chance of a reversal, which is great for Bitcoin miners. They have been suffering with low profitability, in magnitudes never seen, this since Bitcoin was valued at $ 3,500 in February 2018.

This situation can generate another bullish indicator, in other words Bitcoin miners are sellers in the market by nature.

That is why it is important to be aware of the variations of this cryptocurrency. It is no coincidence that with technological advances our habits also undergo transformations. After all, in an increasingly technological world, even money and financial transactions are virtual and do not depend on the currency of banknotes.

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