Weekly Bitcoin Price Prediction (03/01/2020)

Hi guys, this is our first BTC prediction time for this year, weekly Bitcoin price prediction. We are going to use our experience and technical analysis methods to predict bitcoin price in short and long terms.

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Interpretation: Here, you see 3O-minute price graphic of BTC price change. Short time ago, bollinger band shrinked then the price went down sharply (1). Moreover, RSI went down up to below 30. That situation can be considered as a good signal to buy BTC. In time, although RSI showed going up trend (4), the price had going down trend (3) (Positive Divergence). Simultaneously, bollinger band became shrinked (2). As a result, Positive Divergence worked very well and the price and RSI went up immediately. The price became at the top of its normal trend price interval (5).

Price Prediction: The price is out of bollinger band at the top. So, the price is supposed to decrease by $7,200 something. Moving Average indicator for 100 days is a good signal to see resistance and support well in a graphic and RSI is above 70 (6). So, here we can be inferred from the RSI that the price is high enough and will decrease with decreasing RSI. Also, 100-day-Moving-Average states that 7,152$ is a good support for this trend if it goes down (7). If the price went down below that, stop-loss should be considered. Weekly Bitcoin Price Prediction.

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