Bitcoin (BTC) Price Weekly Forecast: Technical Bias Signaling Fresh Increase

There was a sharp decline in bitcoin price after it spiked above the $9,000 level against the US Dollar.The price declined below the $8,600 support and tested the key $8,000 support area.There was a break below a major bullish trend line with support near $8,540 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).The pair tested the $8,000 support area ad recently bounced back above $8,400 and $8,500.

Bitcoin price recovered sharply after a major drop to $8,000 against the US Dollar. BTC is currently consolidating gains and it seems to be preparing for the next wave.

https://www.newsbtc.com/2019/06/02/bitcoin-btc-price-weekly-forecast-technical-bias-signaling-fresh-increase/