$BTC
Price Prediction
Short term
Bitcoin has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The currency has marginally broken up through resistance at points 98000. An established break predicts a further rise. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the currency. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The currency is overall assessed as technically slightly positive for the short term.
Recommendation one to six weeks: Weak Positive (Score: 40)
Medium term
Bitcoin has broken through the floor of a rising trend channel in the medium long term. This indicates a slower rising rate at first, or the start of a more horizontal development. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 67241. The objective at 84547 is now met, but the formation still gives a signal in the same direction. The currency is approacing resistance at 106000 points, which may give a negative reaction. However, a break upwards through 106000 points will be a positive signal. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the currency. The currency is overall assessed as technically neutral for the medium long term.
Recommendation one to six months: Hold (Score: -24)
