Bitcoin BTC/USD ends the trading week at 4190 and continues to move as part of the decline. Moving averages indicate a downward trend. At the moment, we should expect an attempt to correct and test the resistance area near the 4700 level. Where once again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a potential target below 2000.
Bitcoin weekly forecast December 3 — 7, 2018
In favor of reducing the BTC/USD quotes in the current trading week, December 3 — 7, 2018, a test of the trend line on the relative strength index (RSI) will come out. As well as a rebound from the upper boundary of the bearish channel. Cancellation of the Bitcoin drop option will be a strong growth and a breakdown of 4950. 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 a breakdown of the support area and closing of quotes below the level of 2850.
Bitcoin weekly forecast December 3 — 7, 2018 suggests an attempt at a resistance area near the level of 4700. Then, the continuation of the fall of cryptocurrency to an area below 2000. 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 a breakdown of 4950. In this case, we should expect continued growth.