On the way to the line $ 4,000: what is the Bitcoin exchange rate this week?
Source:Last week the bears failed to lower the price below the psychologically important support level. According to the schedule of cryptocurrency, the activity of buyers around the $ 3,600 is a positive sign and could be the first prerequisite to the formation of a bottom in the long term.
The Overall situation looks like this:
the-
the
- the asset has formed a strong support level in the area of 3560 dollars and rolled above; the
- on 4-hour chart is still in effect, the local bearish trend with resistance around the $ 3850; the
- BTC/USD may continue its upward movement up to 4000 dollars in the first half of next week.
This morning, a Bitcoin is trading at $ 3590. For the past day the coin fell to 3.77 percent.
theTechnical analysis
Recently the main cryptocurrency was to step away from the next powerful discharge. In a relatively short period of time Bitcoin price «dived in» below 3560 dollars, but downward movement was successfully kept the bulls. The result was a rebound that allowed the asset to be fixed at about 3600 dollars.
In addition, the chart clearly visible break above the 0.236 Fibonacci level, laid on a wave draining from 4111 to $ 3489. Now Bitcoin is in a consolidation phase slightly below the moving average SMA 100. A break of this line will be a good signal for long with the target lock in profits on the line $ 4,000.
Source: Included
Confirmation of growth in the medium term will be obtained after Bitcoin gets above $ 3850. It is there now is the local downward trend in the scale of 4-hour chart. If the line test fails, you should open shorts to the previous support level of $ 3,600.
The Readings of technical indicators include growth — MACD was in bullish zone, but the RSI is indicating the rapid formation of a bullish trend. To monitor the situation on the market will allow our . There's even a course in rubles.
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