{"id":28154,"date":"2023-09-07T08:46:33","date_gmt":"2023-09-07T08:46:33","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/09\/07\/btc-price-experiencing-pre-reversal-period-in-2019\/"},"modified":"2023-09-07T08:46:33","modified_gmt":"2023-09-07T08:46:33","slug":"btc-price-experiencing-pre-reversal-period-in-2019","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/09\/07\/btc-price-experiencing-pre-reversal-period-in-2019\/","title":{"rendered":"BTC Price Experiencing Pre-Reversal Period In 2019"},"content":{"rendered":"

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BTC value efficiency in August left nothing to be desired as bears set camp available in the market, prolonging a cussed downtrend since early July. Down 11.5% in 30 days to $25,808, the biggest crypto has barely shaped two bullish candles since July.<\/p>\n

Losing help at $30,000 marked a bearish turning level which was vastly underestimated by analysts and buyers. In addition to placing an finish to the bullish technical outlook that had propelled the\u00a0price of Bitcoin<\/a>\u00a0to $32,000 in June, the breakdown confirmed a essential rising wedge sample.<\/p>\n

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BTC Price Downtrend Far From Over<\/h2>\n

The persistent downtrend in July, August, and at the moment September is simply however a continuation of the rising wedge breakout, with a 36.63% goal to $18,940. BTC price has already completed approximately 10% of the drop<\/a> with 26% prone to comply with.<\/p>\n

Based on the weekly chart, the 200-week Exponential Moving Average (EMA) (purple) at $25,586 holds as an important help, which bulls should try to defend in any respect prices. Bitcoin sits under the 50-week EMA (pink) and the 100-week EMA (blue) \u2013 an indication that bears have the higher hand.<\/p>\n

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