The end of the week. Bitcoin is moving without a clear trend, what's next?
Source:
again near major support level. Judging by the 4-hour chart of cryptocurrency, the fate of its growth in the medium term will be resolved next week. The asset has formed a symmetrical triangle on small time frames, which suggests the hesitation of market players.
The Overall situation looks like this:
the- on 4-hour chart the nearest support line is the lower line of the triangle in the center 3765$;
Bitcoin was unable to hold above $ 3900; the
The next price breakthrough cryptocurrency will determine its further movement for next week.
Today the Bitcoin is trading at 3850 dollars, over the past day the coin fell 0.5 percent. While the market capitalization of the coins exceeds 67 billion dollars.
theTechnical analysis
This week, buyers of Bitcoin made another desperate attempt to break above 3900 dollars. Unfortunately, the testing of the resistance was unsuccessful, after which the cryptocurrency rolled down. After some time, the asset has formed a local minimum in the area of 3,720 USD. Fortunately, the scale of the 4-hour chart of Bitcoin still remains above the moving average SMA 100.
The Result of short spurts rates was the formation of a symmetrical triangle on a scale of 4-hour chart. While Bitcoin continues to move within it, so count on a good opportunity for long or short still early.
Source: NewsBTC
Now, traders are best to carefully observe the trading pair. The main levels remain area and 3765 3900 dollars. Breakthrough the first line will be the signal for opening long position, when falling below the second line can begin to short up to $ 3,500.
Technical indicators while not encouraging growth. MACD is in the bearish zone and the RSI is placed below average. Not to miss the next trading signal, visit our .
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