Each and every daily close on Bitcoin price charts is important, as the price level where the candle closes and even the shape of the candle can help crypto analysts predict future movements and trend changes.
Today’s daily close one crypto analyst says is exceptionally important, and will likely choose the trend direction in the short term for Bitcoin price.
Technical analysts inside and out of the crypto market not only use indicators and review chart patterns, but they also look at individual candles themselves. Depending on their open, close, and the Bitcoin price action that takes place within the candle can help analysts make sense of what’s to come, and predict potential trend changes taking place before they actually occur.
Candle closes on higher timeframes, such as the monthly, weekly, 3-day, and daily are often used to determine greater periods of price action. Therefore, crypto analysts pay even closer attention to candles closing on these highest timeframes.
Today’s daily close, one crypto analyst says, is particularly important for Bitcoin price, and could determine the direction of the short to medium-term trend ahead.
Support and resistance clusters have already taken a heavy beating. I think next significant daily close trends. pic.twitter.com/QEcPw6PwrS
— CryptoGainz (@CryptoGainz1) September 13, 2019
The reason for this belief is due to what the analyst claims are both support and resistance clusters being heavily exhausted. This means that these supports and resistances have been weekend in both directions, and whichever one gives way first will likely result in a powerful move in that direction.
While the analyst’s belief is driven by the price action playing out on Bitcoin price charts, could today’s daily close being so important have something to do with superstition or astrology?
Today’s date just so happens to be Friday the 13th, a day known for bad luck and extreme superstition. Most believe that the superstition around the date was conceived after the film of the same namesake, however, the fear of the date may have arisen during the middle ages.
The number 13 itself is even considered unlucky, to the point where often multi-story buildings are built sans a 13th floor altogether.
usually on full moon people get more emotional .. which also has effect on peoples trading decisions … looking at the past and comparing new moon and full moon … btc usually was lower on the full moon … people tend to buy towards new moon
— Mischlichter (@Lichtmischer) September 11, 2019
Making matters all the more spooky is the fact that today is a full moon. Not just a full moon, but today is what scientist refer to as a “micromoon” that appears dimmer and smaller than regular full moons.
According to astrology, full moons are often times where significant change occurs. Could this full moon cause Bitcoin price to moon and set the trend for the weeks ahead? Or will Bitcoin price fall victim to the unlucky day that is Friday the 13th.
Bitcoin Price Forecast: A series of lower highs and slightly higher lows has formed a pennant pattern Regardless of direction,… Read More
Bitcoin has won over many from the traditional finance industry , but far more of the investment old guard remain… Read More
The accused, Steven Nerayoff, violated the agreement made with a blockchain firm. If found guilty, Nerayoff and his associate Michael… Read More
Leading derivatives exchange operator, CME Group announced in a press release today that it will launch options on its bitcoin… Read More
For the past year many participants within the crypto markets have been looking towards the official launch of Bakkt as… Read More