Bitcoin BTC/USD ends the trading week at 4015 and continues to move as part of an upward correction. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to grow and test the resistance area near the level of 4650. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a potential target below 2550.
Bitcoin weekly forecast December 24 — 28, 2018
In favor of reducing the BTC/USD quotes in the current trading week December 24 — 28, 2018, a test of the trend line on the relative strength index (RSI) will be made. As well as a rebound from the upper limit of the descending channel. Cancellation of the Bitcoin fall option will be a strong growth and a breakdown of the 5100 area. This will indicate a breakdown of the upper boundary of the channel and continued growth of BTC/USD with a potential target above the level of 6500. A confirmation of the downward trend development will be the breakdown of the support area and closing of quotes below the level of 3250.
Bitcoin weekly forecast December 24 — 28, 2018 suggests an attempt at a resistance area near the level of 4650. Then, the continuation of the fall of cryptocurrency to an area below the level of 2550. An additional signal in favor of depreciation of Bitcoin will be the resistance line test on the relative strength index (RSI). Canceling the option of falling cryptocurrency quotes Bitcoin will make a strong growth and the breakdown of the 5100 area. In this case, we should expect continued growth.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
