btcusd forecast Great Weekly Close For Bitcoin - Now What?

Hey guys, I hope you have had a good weekend. There was some action yesterday for Bitcoin and we managed to finish the week on a very good note. Here is the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: As you can see, we closed yesterday almost at the very high for the week. That is a good sign. This level where we closed is a fib level (0.618) so we do have some resistance in that area.

However, we are down today, about 3% at the moment, but if we can stay above 8000 we wont lose our supportive trendline. We are right now trading at around 8100.

If we are looking at the next target to the upside, we are looking at 8700 where there is additional resistance and then we have the 0.5 fib level at around 9000.

Now, lets finish up with a look at the weekly chart:

Comment: This week we are actually above the important descending trendline that goes all the way back to the peak we had in mid December. The trendline also shows us that we could go back to 7700 and retest this trendline.

In terms of weekly close for the upcoming Sunday, we want a weekly close above 8500. That would be bullish for Bitcoin.

Happy investing!

btcusd forecast Great Weekly Close For Bitcoin - Now What?
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