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Analysis of the bitcoin rate: the probable growth to $ 7000

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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.

BTC / USD weekly chart

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.

BTC / USD daily time frame with the expected price movement point

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.

BTC / USD monthly time frame, ideally the candle should close at least yellow line

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