Analyze graphs: the end of the week for Bitcoins?
Source:Today, Bitcoin has broken several important resistances, which held the cryptocurrency from rising from the beginning of October. And while this event did not lead to a sharp price jump, the cost of an asset gradually goes up.
the1-hourly chart
At the moment, Bitcoin managed to break above the resistance zone of $ 6680. However, cryptocurrency failed to fixate on the reached level after a few hours it fell back to $ 6565. After that the price leap on the chart has formed a good support area in the center 6450 dollars.
image Source — AMBCrypto
For new wave of growth, the bulls need to consolidate above $ 6720. In this case, Bitcoin could go up to $ 7,000. However, technical indicators yet point to the lack of a sufficient number of buyers. MACD shows a bearish crossover and the RSI is not displayed the strength of the trend.
thethe 4-hour chart
In this scale, the price formed a resistance area 6790 $ and major support at around $ 6170. The asset is in a weak uptrend that lasted from to 6290 6560 dollars.
image Source — AMBCrypto
On 4-hour chart, the RSI has recently come out from the overbought zone, that speaks about presence of buyers in the market. The Parabolic SAR also indicates a positive scenario of development of events for the bulls.
the1-day graph
1-daily chart of the asset has formed a triangle, the upper line of which runs within the area of 8390$, and the bottom is supported around 6170 dollars. While the price of Bitcoin konsolidiruyutsya within these limits.
image Source — AMBCrypto
In a more global scale, the coin can still fall back to 5850 dollars. Under the most unfavorable circumstances, this level will serve as a good support. Fall even lower the bears will open the way to 4500 dollars.
Analysis of Bitcoin charts prepared in .
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