Bitcoin BTC/USD ends the trading week at 8280 and continues to move as part of the growth and bullish channel. Moving averages indicate a bullish trend. An important support area is located near the 7000 level. At the moment, we should expect an attempt to correct and test the support area near the 7250 level. Where can we expect a rebound again and an attempt to continue the growth of the Bitcoin rate with a potential target above the 10550 level.
Bitcoin Forecast and Analysis June 17 — 21, 2019
In favor of raising the BTC/USD quotes in the current trading week, June 17-21, 2019, a breakdown of the downward trend line on the relative strength index (RSI) will be made. The second signal will be a rebound from the lower boundary of the rising channel. The cancellation of the Bitcoin growth option will be a fall and a breakdown of the 6145 area. This will indicate a breakdown of the lower boundary of the upward channel and the continuation of the BTC/USD decline with a potential target below 4950. The resistance of the resistance area and closing of quotes above 9155 will confirm the upward trend.
Bitcoin Forecast and Analysis June 17 — 21, 2019 suggests an attempt to support the area near the level of 7250. Then, the continued growth of cryptocurrency to an area above the level of 10550. An additional signal in favor of raising the Bitcoin rate will be the test of the support line on the relative strength index (RSI). The cancellation of the Bitcoin cryptocurrency quotes growth option will be the fall and the breakdown of the 6145 area. In this case, we should expect a further decline with the target at the level of 4850.