Bitcoin BTC/USD completes the trading week at 7485 and continues to move within the correction and formation of the «Triangle» model. At this point, we should expect an attempt to test the lower boundary of the model near the level of 7200. Again, we should expect a rebound and an attempt to increase the Bitcoin rate with a target above 11500.
Bitcoin weekly forecast June 4 — 8, 2018
In favor of the growth of quotations BTC/USD will perform a test of the support line on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth scenario will be the fall and breakdown of the 6000 area, which will indicate the breakdown of the lower bound of the «Triangle» model and the continuation of the BTC/USD fall below 4500. Confirmation of the growth of the cryptocurrency will trigger a breakdown of the upper bound of the «Triangle» model and the closing of quotes above the level of 9000.
Bitcoin weekly forecast June 4 — 8, 2018 involves trying to test the support area near the 7200 level and continuing growth in the area above the level of 11500, an additional signal for Bitcoin growth will be a test of the support line on the indicator of relative strength index (RSI).