Of course Bitcoin: the coin price will rise to $6,600✌

Of course Bitcoin: the coin price will rise to $6,600✌

Key points

  • The rate of Bitcoin for several days in the range $6,400-$6,550.

  • On the four-hour chart has formed a bullish trend with the support level of $6,410 (according to the exchange Kraken).

  • The main barriers of resistance are at $6,480 and $6,500.

The price of Bitcoin konsolidiruyutsya above $6,400, however, that there was a rising trend is necessary to overcome the resistance around $6,500.

Established a strong equilibrium.

This week buyers are three times broke the resistance barrier of $6,500. However, to develop the trend has failed, so the value of BTC again fall below $6,500. During the last rate increase from $6,150 to $6,825 cryptocurrency was trading below the 61.8% Fibonacci level.

On 15 October, after a sharp increase in exchange rate, Bitcoin began to rapidly fall in price, but bearish trend managed to stop at around $6,350. Then the price retraced above $6,400. At the moment, has formed the bullish trend-line support at $6,410, it is likely that in the near future, the value of Bitcoin will exceed $6,500.

According to the graph, the bullish trend will gain momentum only if buyers can overcome resistance around $6,550. From large losses Bitcoin is protected by two areas of support - $6,350 and $6,200. Taking into account the current market situation, it is not necessary to wait for a big change: most likely, the TSena BTC before October 27 will grow by 2-3%, to about $6,600.

The MACD 4 hours – moving into the zone of the bullish trend.

The RSI 4 hours – above 50.

The main support level of $6,350.

Major resistance is $6,500.

Of course Bitcoin for a week prepared in accordance with technical indicators and current situation on the market!

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