Last week, bitcoin finally managed to demonstrate its strength, the main cryptocurrency grew for 10 days and only at the weekend the price went for a small correction. During this time, the coin has gone from support in the area of $30,000 to raising the price to the level of $40,000, but at the moment the price is declining and there is a chance of returning to the side range. Whether the bulls will be able to hold positions and strengthen growth, we will analyze in our traditional weekly forecast of the bitcoin-dollar exchange rate.
After two months of pressure and a systematic decline, bitcoin finally demonstrated its character and in just a couple of days almost reached the resistance zone around $40,000. Whether the main cryptocurrency will be able to break higher and get out of the sideways trend of May 19, we will analyze in our traditional weekly forecast of the bitcoin exchange rate to the dollar.
Today marks exactly 2 months since the beginning of the sideways trend in bitcoin. Despite various events, whether from the world of cryptocurrencies or in the global economy, the value of the main digital coin continues to remain locked within a sideways trend. There is one important plus in the tedious waiting – every week the range of the sideways trend narrows, there is a compression of liquidity, which means that in the near future we can expect an impulse that will set a further trend. In which direction the coin will go, we will analyze in our traditional weekly forecast of the bitcoin exchange rate to the dollar.
After 2 months of stable movement in a sideways trend, bitcoin is preparing for a climax. The compression of liquidity or the narrowing of the trading range clearly hints that an impulse exit from the sideways is about to take place. Of course, the community is interested in the main thing — in which direction will the exit take place? Let’s try to analyze possible scenarios in our traditional weekly forecast of the bitcoin exchange rate against the dollar.
The long Lateral Trend continues in the cryptocurrency market, from which Bitcoin has not been able to escape for more than a month and a half. Pressure on miners and other cryptocurrency companies in China continues, forcing crypto investors to proceed cautiously. However, the BTC rate has stabilized in the range of $30,000 to $40,000 and cannot go beyond that. What’s going to happen next week will be our traditional weekly Bitcoin-to-dollar forecast.
The past week within the framework of the sideways movement, in the range between $32,000 and $40,000, was under pressure for bitcoin. Twice they tried to push the price below $30,000, but both attempts were unsuccessful, buyers quickly returned it to the side range. Despite the fears of the market, the main cryptocurrency is not in a hurry and, apparently, does not plan to continue falling. What will be the upcoming week, we will analyze in our traditional weekly forecast of the bitcoin exchange rate to the dollar.
Exactly one month after the May collapse, Bitcoin continues to remain locked in a wide band between $32,000 and $40,000, periodically testing the support zone and the resistance zone. The new work week started off against a backdrop of high sales. Can the main cryptocurrency stand and return to growth? In our traditional weekly rate projection of Bitcoin to the dollar, we’ll take it apart.
If you look at the behavior of bitcoin in the vicinity of the main zones, what you find is that when it hits the $32,000 zone, buyers buy all the market supply almost instantly and aggressively; at the time of the $40,000 rise, there’s no demand higher. That is, $32,000 is a good and attractive price for purchases, which is demonstrated by aggressive purchases and a quick rebound of the price up. However, above $40,000, investors are not ready to pay for BTC right now. Thus, the market maintains a balance of supply and demand. This only means that at the moment bitcoin lacks any trigger that determines its further trend.
The relative strength index of the RSI indicator indicates that the sellers ‘ strength is running out, but even in this case, a negative info-reason can increase the number of bears, as well as the volume of sales. If the price goes down and breaks through the $32,000 level, its nearest target will be the $28,000 level, which also corresponds to the oversold zone around the level 20 on the RSI indicator. It is likely that this will be the last bear attack that will reduce the tension in the market, as a result of which there may be an impulse growth and a return to the range between $32,000 and $40,000.
Our Bitcoin (BTCUSD) forecast for today, tomorrow, and the week of June 21-27 is the culmination of a monthly sideways trend going beyond the $32,000 – $40,000 range. There remains only one question — in which direction will the breakdown take place? This depends on the information background around the cryptocurrency market.
Another week of intense waiting has passed, but where will Bitcoin go from here to recovery or continue falling? Apparently, there were no sales figures, although an attempt was made to raise the price to $32,000. As a result, the price jumped and this morning came very close to an important resistance in the $40,000 area. We will review the Bitcoin-to-the-dollar exchange rate in our weekly forecast.
For the third consecutive week, Bitcoin continues to be held between $34,000 and $42,000. Liquidity is shrinking and a strong impulse and new movement is likely to start in the near future. All that remains is the question of which way the shot may be fired. This is what we’re going to try to figure out in our weekly rate-of-exchange forecast of Bitcoin to the dollar.
For the second week in a row, bitcoin continues to hold at lows since the beginning of the year. Many members of the crypto community believe that a new crypto-winter has begun. However, the main reason for the fall and the continuation of the decline are bans in China and the likely tightening of regulation of the crypto market in the United States. At the same time, the fundamental reasons for the growth of cryptocurrencies continue to operate. What does the market expect in the coming week? Let’s look at our traditional weekly forecast of the bitcoin-to-dollar exchange rate.