ACTUAL ANALYSIS OF BTCUSD. WHERE WILL BITCOIN GO?

Dear friends,
The new week has come. As it is usual on Mondays, I offer you my forecast for the cryptocurrency king, Bitcoin, and the corresponding trading instrument, BTCUSD.

The recent week was rich in surprises. Nobody had expected Bitcoin to drop so deep. Let’s see how BTCUSD actual price moves have matched to my projections.

Analysis of the history of BTCUSD

(BTCUSD forecast, dated 03.09.2018)

(BTCUSD current situation on 10.09.2018)

In my previous forecast, I suggested that the market is obviously overbought and heavy to move. I expected BTC to move down and break through the first trend; however, I didn’t think it would be falling so fast. As it is clear from Bitcoin price chart above, there was an enormous price dump, touching the low at 6119.50 USD.

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