Bitcoin BTC/USD completes the trading week at the level of 8717 and continue to move within the framework of the decline and formation of the «Triangle» model. At this point, you should expect to try the support area test near the level of 7500. Where again we should expect a rebound and an attempt to grow Bitcoin with a target above 12500.
Bitcoin weekly forecast May 14 — 18, 2018
In favor of the growth of quotations BTC/USD will perform a test of the broken trend 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 10500.
Bitcoin weekly forecast May 14 — 18, 2018 involves trying to test the support area near the level of 7500 and continuing growth to an area above the level of 12,500, an additional signal in favor of Bitcoin growth will be a test of the support line on the indicator of relative strength index (RSI).