The bottom of found: now Bitcoin will only grow
Source:
Since the beginning of August the main cryptocurrency has lost almost 10 percent of its value. However, a deeper analysis of the chart of Bitcoin is a bit encouraging. Judging by the recent price movement ahead of us the gradual growth of the asset. About it writes .
theWhen it begins to grow
The First half of the month was not the best for the stock market — he's not very good at the abolition of the ETF of the Winklevoss brothers. After a couple of weeks the bears are finally exhausted and not able to break through a key support level on Bitcoin. The cryptocurrency began slowly , not reacting to negative news.
Last week the bulls managed above $ 7,000. After a small jump in Bitcoin soon found a new support level. The overall picture is best seen on the monthly chart of cryptocurrency.
Last month a candle hammer strongly, suggesting bears. Sellers are not strong enough to lower the price below 5755 dollars, of which now the asset rises. Over the past 10 weeks, the cost of Bitcoin almost all the time were above $ 6,000.
According to analysts, it is now quite possible to hope for growth in the long term. Looking at the chart, the Bitcoin can rise to $ 8,500 in the next couple of months.
Then there are two possible scenario:
the-
the
- cryptocurrency breaks through resistance at $ 8,500 and the new one begins the
- Bitcoin falls below $ 6,000 in September (main support) and drops to $ 4,500
.
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