Bitcoin analysis and movement prediction

Bitcoin analysis and movement prediction

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Last week was filled with the falls. Bitcoin lost its position at $ 9000 and rushed down. The price fought back and slipped through many resistance levels, such as $ 8000 and $ 7000. Bidding almost reached $ 6500 , where active sellers helped to keep the price.

On the 4-hour chart of BTC / USD we can see the formation of a bearish trend, with resistance at $ 8050.

At the lower level, around $ 6,600 stands a decent support. Break of this zone can provoke a wave down to $ 6000. Nevertheless, an upward correction to the level of $ 7500-7800 is possible, but most likely there will be resistance of sellers.

Bitcoin analysis and movement prediction

Technical indicators:

4-hour MACD – shows a slow movement in the bull zone.

4-hour RSI – passed the mark of 35 and now moves at level 33

The main support level is $ 6600

The main resistance level is 8000 $

Positive history:

The short-term perspective may look not so well, but it should be noted that in the long term

BTC is still waiting for a brighter future. From a technical point of view, it’s just at the beginning of his journey.

Now many of those who experience panic, should look at a story that brings a bit of optimism for those who may have completely lost it.

Bitcoin analysis and movement prediction

All of the great technologies that are still planning to appear in the world, will raise the value of Bitcoin and will give us new history highs.

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