Bitcoin BTC/USD completes the trading week at 6,391 and continues to move within the framework of the «Triangle» model. At this point, we should expect a test of the resistance area near the level of 7120. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a potential target below the level of 4850.
Bitcoin weekly forecast & analysis September 10 — 14, 2018
In favor of lowering the quotations of BTC/USD on the current trading week on 10 — 14, 2018, a resistance line test will be performed on the relative strength index (RSI), as well as the upper bound of the «Triangle» model. The abolition of Bitcoin fall will be a strong growth and the breakdown of the area of 7950, which will indicate the breakdown of the upper boundary of the model and the continuation of the growth of BTC/USD above the level of 9500. Confirmation of the fall will be the breakdown of the lower bound of the «Triangle» model and the closing of quotes below the level of 5800.
Bitcoin weekly forecast & analysis September 10 — 14, 2018 suggests a resistance area near the 7120 level and the continuation of the fall of the cryptocurrency in the area below the level of 4850, an additional signal in favor of Bitcoin depreciation will be the resistance area test on the relative strength index (RSI).
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