Bitcoin BTC/USD completes the trading week at 7354 and continues to move within the correction. At this point, we should expect an attempt to test the lower limit of the model «Triangle» near the level of 7500. Where again we should expect a rebound and an attempt to continue the depreciation of Bitcoin with a target below 4700.
Bitcoin weekly forecast & analysis July 23 — 27, 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 23 — 27, 2018 suggests a resistance area near the 7500 level and the continuation of the fall of the cryptocurrency into the area below the 4700 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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