Bitcoin BTC/USD ends the trading week at 55398, continues to move within the growth and bullish channel. Moving averages indicate a bullish trend. Prices went up from the area between the signal lines, which indicates pressure from the buyers of the asset and the potential continued growth of the asset’s quotes. At the moment, we should expect an attempt to develop a correction and a test of the support area near the level of 47055. Where can we again expect a rebound and a continuation of the rise in the Bitcoin rate with a potential target above the level of 70055.
Bitcoin Forecast and Analysis October 11 — 15, 2021
An additional signal in favor of the growth of BTC/USD quotes in the current trading week October 11 — 15, 2021 will be a rebound from the upper border of the descending channel. The second signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the Bitcoin growth option will be a fall and a breakdown of the area of 36055. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below 28055. Confirmation of the development of a bullish movement will be a breakdown of the resistance area and closing of quotations above the level of 56355.
Bitcoin Forecast and Analysis October 11 — 15, 2021 suggests an attempt to support area near the level of 47055. Then, the cryptocurrency will continue to rise to the area above the level of 70055. An additional signal in favor of the Bitcoin rate growth in the current trading week will be a test of the trend line on the relative strength index (RSI). Cancellation of the option to raise Bitcoin cryptocurrency quotes will be a fall and a breakdown of the area of 36055. In this case, we should expect a continued decline with a target at 28055.
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