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Bitcoin Price: Technical Analysis

Bitcoin Price: Technical Analysis

What happened

Our expectations of BTC movements were right. Early last week it was going down to a $6400 minimum. But over the second half of the week, Bitcoin rate went up and tested a resistance level of $7800, which was exceeded over weekend.

What’s next

Now BTC is fluctuating around $8000. RCI indicator shows Bitcoin to be slightly overbought, while MACD signals of bull sentiment in the short term.
This week we might see testing of $7800 support level, and if Bitcoin jumps up, it will be testing $8500 resistance. And if this barrier is taken, Bitcoin open its way up to $10,000.

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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