Bitcoin BTC/USD ends the trading week at the level of 9705 and continues to move in the framework of strong growth and the ascending channel. Moving averages indicate a bullish trend. An important area of support is located near the level of 7750. At the moment, we should expect an attempt to correct and test the area of support near the level of 8155. Where can we expect a rebound again and an attempt to continue the growth of Bitcoin with a potential target above the level of 11650.
Bitcoin Forecast and Analysis June 24 — 28, 2019
In the current trading week of June 24 — 28, 2019, a test of the rising trend line on the relative strength index (RSI) will be in favor of raising the BTC/USD quotes. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the Bitcoin growth option will be a fall and a breakdown of 6785. This will indicate a breakdown of the lower boundary of the ascending channel and the continuation of the fall of BTC/USD with a potential target below 5150. A confirmation of the development of the upward trend will be a breakdown of the resistance area and closing of quotes above 10100.
Bitcoin Forecast and Analysis June 24 — 28, 2019 implies an attempt at the support area near the level of 8155. Then, the continued growth of cryptocurrency to the area above the level of 11650. 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 variant of the growth of Bitcoin cryptocurrency quotes will be the fall and the breakdown of the 6785 area. In this case, we should expect a further decline with the target at the level of 5150.