FX.co ★ Bitcoin/BTCUSD forecasts

Analysis and projection for the trading instrument #Bitcoin based on technical analysis The Bitcoin trading instrument last week moved within a downward trend framework. Although the movement was not too significant, it was fairly predictable, considering many factors. As for the further development of the situation, it is no longer so clear here, because the trend remains downward and therefore I have temporarily marked on the chart a potential sell signal from the resistance level of 63,200. So if you work carefully, it is still quite possible to manage to find an entry point for short positions and, in the most optimistic scenario for the bears, the price of the trading instrument #Bitcoin could even fall into the 60,000 level area, although I myself would not be too greedy and would limit it at 61. However, that is one scenario, and in the second scenario it should be taken into account that in the 62,200 level area there is a fairly strong support zone and, considering that the crypto market lately has not shown very significant movements, we have every chance to bounce and return to the 65,000 level, but even in that case, we still have room to move down.