Analysts predict a decline in prices bdon to $2970

CoinDesk analyst Omkar Godbole notes that after passing the support level at $3298 price first cryptanalytic could fall to the lows of September.

Аналітики прогнозують зниження ціни біткоіна до позначки $2970

CoinDesk analyst Omkar Godbole notes that after passing the support level at $3298 price first cryptanalytic could fall to lows of September 2017 at $2970, informs Rus.Media.

Bdon dropped to the level of six weeks ago, and soon the bears can test long-term support at $3300. Yesterday’s drop in prices to a minimum of 17 December was accompanied by an increase in total trading volumes to the level of $7 billion (according to CoinMarketCap), which clearly shows the predominance of sellers on the market.

Continued sales may reduce the price to the minimum values Dec $3100.

Weekly chart

Аналітики прогнозують зниження ціни біткоіна до позначки $2970

On a larger timeframe shows that price is desperate to hold on the 200-week average curve (MA) passing through the level of $3298. Amid falling values of the relative strength index (RSI) oversold 200 MA can not resist.

Daily chart

Аналітики прогнозують зниження ціни біткоіна до позначки $2970

On the daily chart RSI is also pointing down. Last in oversold territory, the indicator was in December.

Also the continuation of the bull market signal is down-directed MA with periods of 5 and 10. Thus, soon, the price may return to $3122.

Junior timeframes

Аналітики прогнозують зниження ціни біткоіна до позначки $2970

On the four-hour chart the RSI is in oversold zone, below $ 30.00. So, before the breakout of 200 MA may be a slight upward correction.

Until that radically change the market picture can only be a convincing break of $3658 that corresponds to the maximum of the Sabbath candles Doji (“Tombstone”).

We will remind, according to the founder of Sprinklr services Scup and Renato Shrakes, the price of BTC has almost reached its bottom.

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