If you are using Bitcoin, this information is for you! Bitcoin has been moving a little crazy the last couple of weeks. In fact, since June it has not moved anymore. There are 24 thousand dollars now. And we know that the highest number that Bitcoin has reached Bitcoin has been 68 thousand dollars. Since then, it has been just falling and falling.
In 2020 due to the pandemic, Bitcoin was under $ 19 thousand dollars. That is why Cristian AP has been giving more use to Bitcoin, exchanges, purchases, etc.
RSI and stochastic oscillator
Now you know that information about bitcoin. So, we’ll talk about two indicators that are used in daily transactions. These help us with Bitcoin prediction. These are the RSI and the stochastic oscillator.
Why do we mention them? Because they have shown us what will be the short-term movements of the currencies.
With these indicators we can see overbought and oversold conditions. These indicators showed us overall conditions in March 2020 at the point of the pandemic. It tells us that the price can start jumping.
Oscillator indicator for Bitcoin
To understand the volume and impulse of the specific asset that we want to know, an oscillator indicator is used.
This showed the highest point and then the fall continues to become a bearish trend. Why is this so important? With this indicator we can see the jumps that can be identified every time the oscillator line crosses. For example, crossing with the midline becomes a certain point an impulse. And it can be predicted that the price can jump or upload in the next few days.
So, if you are into Bitcoin, these indicators surely will help you!
Conclusion
What should you do now? Now you know Bitcoin’s situaition! If you are a holder there is almost nothing you can do. If you sell you will lose the value a lot. If you bought it at a higher price at this time, there is the lowest price since 2020. Next week, Cristian hopes we have a new update. And we will analyze what has happened. Cristian indicates his predictions, and they are that the price of Bitcoin most likely rises.
Remember, this was just a summary. You can see further information in the video below. You will see more about Cristian’s explanation about Bitcoin. We hope you enjoy this information!