Bitcoin BTC/USD completes the trading week at 8075 and continue to move within the framework of the decline and formation of the «Triangle» model. At this point, we should expect a test of the support area near the level of 7500. Again, we should expect a rebound and an attempt to increase the Bitcoin rate with a target above 12500.
Bitcoin weekly forecast May 21 — 25, 2018
In favor of the growth of quotations BTC/USD will test the bullish trendline 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. The breakdown of the upper bound of the «Triangle» model and the closing of quotes above the level of 10000 will confirm the growth of the cryptocurrency.
Bitcoin weekly forecast May 21 — 25, 2018 suggests testing the support area near the level of 7500 and continuing growth in the area above the level of 12,500, an additional signal in favor of Bitcoin’s growth will be a test of the support line on the indicator of relative strength index (RSI).