Bitcoin BTC/USD ends the trading week at the level of 3596 and continues to move as part of the decline. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to fall and a test of the support area near the level of 3400. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with a potential target above the level of 5500.
Bitcoin forecast December 31 — January 4, 2019
In favor of the growth of BTC/USD quotes in the current trading week December 31 — January 4, 2019, a test of the trend line on the relative strength index (RSI) will come out. As well as the formation of the «Head and Shoulders» reversal pattern. The cancellation of the Bitcoin growth option will be a fall and a breakdown of the 2950 area. This will indicate a breakdown of the support level and a decline in BTC/USD growth with a potential target below 2000. A confirmation of the development of the upward trend will be the breakdown of the Neck line and the closing of quotes above the 4100 level.
Bitcoin weekly forecast December 31 — January 4, 2019 suggests an attempt to support the area near the level of 3400. Then, the continued growth of cryptocurrency in the region above the level of 5500. An additional signal in favor of the growth of the Bitcoin rate will be the support line test on the relative strength index (RSI). The cancellation of the growth option of Bitcoin cryptocurrency quotes will be the fall and the breakdown of the 2950 region. In this case, we should expect a further decline.