Get most of the Bitcoin pair – BTC GBP price with interactive tools to study chart patterns. The chart references the Bitcoin – BTC GBP price live from the Coinbase exchange.
Check here for Bitcoin BTC Price in USD ($).
Bitcoin sentiment Index provided by Alternative.Me
The above index uses the following factors to measure sentiment. These are – Volatility, Market Momentum/ Volume, social media, Surveys, Dominance, and Google search trends.
There are two ways to read the index:
– Extreme fear can be a sign that investors are too worried. That could be a buying opportunity.
– When Investors are getting too greedy, that means the market is due for a correction.
About Bitcoin:
Bitcoin is a peer-to-peer electronic cash system launched in 2009 that allows online payments to be sent directly from one party to another without going through a financial institution. To know more about Bitcoin, read whitepaper or visit Bitcoin.org.
Helpful technical indicators to study Bitcoin pair BTC GBP price movement:
Technical Analysis through the use of charts helps to forecast future BTC GBP price trends, however, do remember always that analysis can’t make absolute predictions about the future. Therefore, trade with caution.
The following are some of the technical indicators which could be useful for anticipating the most likely Bitcoin pair – BTC GBP price movement.
Moving average convergence divergence (MACD)
MACD is calculated by subtracting the 26-period Exponential Moving Average (EMA) from the 12-period EMA. The result of that calculation is the MACD line.
A nine-day EMA of the MACD called the “signal line”, is then plotted in addition to the MACD line which together functions as a trigger for Bitcoin BTC buy and sell. Traders may buy the Bitcoin – BTC when the MACD crosses above its signal line (orange line) and Sell, or short, the Bitcoin (BTC) when the MACD (blue line) crosses below the signal line.
Another MACD strategy is to look at which side of zero the MACD lines are.
– Above zero for a sustained period of time, and the trend is likely up or
– Below zero for a sustained period of time, and the trend is likely down.
Potential buy signals occur when the MACD moves above zero, and potential sell signals when it crosses below zero.
Relative Strength Index (RSI)
RSI is an indicator that evaluates overbought or oversold conditions in the price of an asset. The RSI is a line graph that moves between two extremes and has a reading from 0 to 100. Traditional usage of the RSI is that:
- RSI value of 70 or above indicates that an asset is becoming overbought and may be primed for a trend reversal or experience correction in the Bitcoin (BTC) GBP price.
- An RSI reading of 30 or below indicates an oversold or undervalued condition.
Moving average (MA) of Bitcoin BTC GBP price
MA is the average of the closing GBP price of an asset – Bitcoin BTC over a given number of periods. There are two basic signals in relation to the moving average:
- If the price is above the X day SMA, this signals a bullish movement.
- If the price is below the X day SMA this signals a bearish movement.
The 200-day simple moving average is one of the most-watched activities in the price charts by mostly all experienced traders.
MA(50,200) Crossover
Another important signal that these moving averages send is a crossover between the 50-day and the 200-day moving averages.
- Essentially, a bullish crossover (the 50-day MA moving above the 200-day MA) is called a golden cross and it signals that a new bullish Bitcoin BTC GBP price trend is starting.
- A bearish crossover (where the 50-day MA crosses below the 200-day MA) is known as the death cross. This is a sign that a bear market may be starting.
On-balance volume (OBV)
OBV is another technical trading momentum indicator that uses volume flow to predict changes in the stock price. Ideally, the volume should confirm trends. A rising price should be accompanied by a rising OBV; a falling price should be accompanied by a falling OBV.
- If OBV is rising and the price isn’t, the price is likely to follow the OBV and therefore should start rising.
- In case the Bitcoin (BTC) GBP price is rising and OBV is flat-lining or falling, the BTC price may be near the top.
- If the BTC GBP price is falling and OBV is flat-lining or rising, the price could be nearing the bottom.
Chart Patterns to remember while analyzing Bitcoin BTC GBP price
- Head and Shoulders
- Cup and Handle (bullish)
- Triangles (Symmetrical, Ascending (usually bullish) and Descending)
- Double tops and bottom [M (bearish) and W (bullish)]
- Triple Tops (bearish) & Bottoms (bullish)