Bitcoin BTC/USD ends the trading week at 26110, continues to move as part of the development of the fall and the bullish channel. Moving averages indicate a bullish trend. Prices have broken through the area between the signal lines down, which indicates pressure from sellers of the asset and a potential continuation of the fall in asset quotes. At the moment, we should expect an attempt to develop a correction in the price of the coin and a test of the support area near the level of 25665. From where we should again expect a rebound upwards and continued growth in the Bitcoin rate with a potential target above the level of 39565.
Bitcoin Weekly Forecast August 28 — September 1, 2023
An additional signal in favor of the rise in BTC/USD quotes in the current trading week of August 28 — September 1, 2023 will be a rebound from the lower border of the bullish channel. The second signal will be a rebound from the support line on the relative strength index (RSI). Cancellation of the growth option for Bitcoin will be a fall and a breakdown of the 22665 area. This will indicate a breakdown of the support area and a continued fall in BTC/USD quotes with a potential target below the level of 18765. A confirmation of the development of a bullish movement will be a breakdown of the resistance area and closing of quotes above the level of 30455.
Bitcoin Weekly Forecast August 28 — September 1, 2023 suggests an attempt at the support area near the level of 25665. Then the cryptocurrency will continue to rise to the area above the level of 39565. An additional signal in favor of the rise in the Bitcoin rate during the current trading week will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for Bitcoin cryptocurrency quotes will be a fall and a breakdown of the area of 22665. In this case, we should expect a continuation of the decline with the target at the level of 18765.
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