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Bitcoin Price: Technical Analysis

What happened

BTC rate is being consolidated in a narrow $13,000-16,300 range. RSI indicator is in neutral zone and doesn’t signal to buy or sell. Macd shows a minor Bitcoin oversoldness and keeps a ‘sell’ signal.

What’s next

The upward trend remains, so it is too early to talk about buying or selling Bitcoin, at least until the consolidation range is overtaken. Later, in case of a downward correction, we can expect the price to fall to $8,000 and even $5,800. However, if Bitcoin leaves the consolidation zone up, it can reach $31,000.

Disclaimer

Our price analysis is for information purposes only. Please make the Bitcoin purchase and investment decisions independently at your own risk.

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