Bitcoin BTC/USD completes the trading week at 6222 and continues to move within the limits of the decline. At this point, we should expect an attempt to test the lower bound of the «Triangle» model near the level of 7300. Where again we should expect a rebound and an attempt to continue the decline of the Bitcoin exchange rate with a target below 3700.
Bitcoin weekly forecast & analysis July 16 — 20, 2018
In favor of falling quotes BTC/USD will perform a downtrend test on the indicator of relative strength index (RSI). The abolition of the Bitcoin reduction option will be a strong growth and breakdown of the area of 8300, which will indicate the breakdown of the resistance area and the continuation of the growth of BTC/USD above the level of 9800. A breakdown of the support area and the closing of quotations below the level of 5550 will prove the development of a bearish trend.
Bitcoin weekly forecast & analysis July 16 — 20, 2018 suggests a resistance area near the 7300 level and the continuation of the fall of the cryptocurrency in the area below the 3700 level, an additional signal in favor of Bitcoin depreciation will be a downlink resistance test on the relative strength index (RSI).
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