Analysts: what happens next week on Bitcoin?

In the last 24 hours the Bitcoin has managed to test resistance near 6775 dollars and a little roll back. Now asset “trampled” on this line. We’ll see if the bulls strength.

The overall situation looks pretty promising:

  • the pullback from 6775 $ was not as strong;
  • the asset finds support at the level of 6639 dollars;
  • local zone support: 6557, 6453, 6383, 6259 and $ 6189;
  • local zone resistance: 6775, 6824, 7053 and 7424 dollars.

The price movement of the main cryptocurrency analyzed in Coingape.

The 4-hour chart

On 4-hour chart shows how the Bitcoin could not overcome key level by Fibonacci, which has been preserved from the previous sharp drop in early September. Cryptocurrency has tried one sharp impulse to go higher than 6800 dollars, but the bulls failed to gain a foothold there.

If the sellers can push the price down, we should expect a decline to the abovementioned support levels. At the moment the main purpose of the bulls remains an area of 6800 dollars, after which open the way to 7000 and 7400 dollars. The last point is a local maximum, after overcoming it, you can talk about the growth 8,000 and $ 8,500.

1-hour chart

On a smaller scale clearly shows how Bitcoin failed to break above 6800 dollars. Rollback after testing the resistance was small, so that buyers still have the strength to continue the uptrend.

There is an opinionthat the recent growth of the main crypto-currencies were a result of investor interest in altonah. If the stock market continues to delight us with a good profit, it is not excluded wide publicity in the media. We will remind, last year she greatly helped, prophaniti the price of Bitcoin to $ 20,000. It turns out that even the manipulation with the Tether.


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