btc

Our previous Weekly Bitcoin Price Prediction has worked and the price has risen with small falls (click here to see our last week prediction). We can shortly say that the halving event effect is still on and it seems it will continue for a while (click here to see the countdown). So let’s see what we are going to expect for Weekly Bitcoin Price Prediction (06/02/2020).

btc price prediction for 06/02/2020

Interpretation: Rising trend continues with small falls and rises (blue line). In addition, Short term moving average (blue line) has been above Long term moving average (red line) for a while. RSI also keeps its rising trend (orange line) but it seems there is a mighty resistance at 70 because RSI has been trying to exceed that point four times and failed (green line).

Prediction: Our inference from the interpretation above is that the BTC price will keep rising for a while if it exceeds 70 of RSI. So, we must always check RSI rising trend. Following this channel the price can rise by $10,300 and fall by $9,300 (as stop-loss point).

Worse case scenario is that the BTC price has tried to exceed current value before and failed with huge fall (purple square). So, we must also consider this scenario and $9,300 would be a good stop-loss price for precaution.

Our Weekly Bitcoin Price Prediction (06/02/2020) considers those 2 scenarios for next week. Although Rising price trend with rising RSI trend is a good scenario, we should always know that no price rises forever.

THOSE PREDICTIONS ARE JUST OUR IDEAS AND NOT INVESTMENT ADVICE.

Hi guys, our last Weekly Bitcoin Price Prediction has worked well again and again (click here to see last week predicton). Since last week BTC has fallen by $8,300, then risen by $9,500 and now it is about $9,300. Even our RSI prediction worked very well and it has touched the rising trend line and went up again. We can still consider this rise thanks to halving event on May (Click here to see the countdown). So, let’s start to our Weekly Bitcoin Price Prediction (31/01/2020).

Interpretation: The price keep being above falling-trend channel showed with purple lines and Short term moving average (blue line) is still above long term moving average (red line). Moreover, 100-day moving average (green line) exceeded the top purple line finally and RSI is still keeping its rising trend.

Prediction: As long as Short-Term Moving Average is above Long-Term Moving Average and we are above the falling channel, everything is fine. The current price is at resistance point for now. If it is exceeded by $10,000, we can talk about $10,600 price for short-term and $12,000 for mid-term investment . However, small falls are still possible as we are at resistance point now. Support prices would be $8,900, $8,700 and $8,000. To sum up, BTC price will keep rising with short falls if it exceeds, $10,000. However, $8,700 seems like a good stop-loss point for short-term investment.

THOSE PREDICTIONS ARE JUST OUR IDEAS AND NOT INVESTMENT ADVICE.