Bitcoin BTC/USD ends the trading week at 44865, continues to move within the correction and the bullish channel. Moving averages indicate a bullish trend. Prices are again testing 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 39005. 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 63505.
Bitcoin Forecast and Analysis October 4 — 8, 2021
An additional signal in favor of the growth of BTC/USD quotes in the current trading week October 4 — 8, 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 32355 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below the level of 25055. Confirmation of the development of a bullish movement will be a breakdown of the upper boundary of the ”Wedge” model and closing of quotations above the level of 49055.
Bitcoin Forecast and Analysis October 4 — 8, 2021 assumes an attempt to support area near the level of 39005. Then, the cryptocurrency will continue to rise to the area above the level of 63505. An additional signal in favor of the growth of the Bitcoin rate 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 32355 area. In this case, we should expect a continued decline with a target at 25055.
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