Bitcoin BTC/USD completes the trading week at 7959 and continues to move within the correction. At this point, we should expect an attempt to test the support area near the level of 6500. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin exchange rate with a target above the level of 9500.
Bitcoin weekly forecast & analysis July 30 — August 3, 2018
In favor of the growth of quotations BTC/USD will perform a test of a broken trend line on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth scenario will be the fall and breakdown of the 6300 area, which will indicate the breakdown of the support area and the continuation of the BTC/USD fall below 4500. The bullish trend is confirmed by the breakdown of the upper limit of the bearish channel and the closing of quotes above the level of 9700.
Bitcoin weekly forecast & analysis July 30 — August 3, 2018 assumes an attempt of a support area near the level of 6500 and the continuation of the growth of the cryptocurrency in the area above the level of 9500, an additional signal for the growth of the Bitcoin rate will be a test of the support line on the indicator of relative strength index (RSI).