About how the price of bitcoin can behave this week, tells the CEO of the cryptorg.net service and the permanent author of BlockchainJournal Andrey Podolyan .
The past week was fairly calm and, as was supposed in the last issue of analysts, the weekly candle turned out to be potentially a reversal in the form of a doji with a bull body.
This year, while all such formations worked out the subsequent growth (on the chart marked with arrows), so with a high degree of probability it can be assumed that this week there will be growth. This fits well with the idea of a price return to $ 7000.
On the daytime time frame, a blue rectangle marked the zone in which, in my opinion, the price this week will be striving for is the level of $ 6,800- $ 7,000, where new massive sales will begin.
If we consider the negative scenario this week, then the critical point will be the price of the last week low – below $ 6100, then the price can be increased up to $ 5750. However, I do not expect strong movements this week, most likely we'll see the flat again with a slight increase in the price.
Pay attention to the monthly time frame: ideally you need to close at least $ 7000- $ 7100, then the situation will be more or less interesting for the bulls, if you close below, it will be a good opportunity for the bears to continue to push the price lower.
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