Buy bitcoin: BTC 1 = AU $ 
Sell bitcoin: BTC 1 = AU $ 
Buy Ether: ETH 1 = AU $ 
Sell Ether: ETH 1 = AU $ 
Buy XRP: XRP 1 = AU $ 
Sell XRP: XRP 1 = AU $ 
Buy Litecoin: LTC 1 = AU $ 
Sell Litecoin: LTC 1 = AU $ 
Buy bitcoin: BTC 1 = AU $ 
Sell bitcoin: BTC 1 = AU $ 
Buy Ether: ETH 1 = AU $ 
Sell Ether: ETH 1 = AU $ 
Buy XRP: XRP 1 = AU $ 
Sell XRP: XRP 1 = AU $ 
Buy Litecoin: LTC 1 = AU $ 
Sell Litecoin: LTC 1 = AU $ 
Buy bitcoin: BTC 1 = AU $ 
Sell bitcoin: BTC 1 = AU $ 
Buy Ether: ETH 1 = AU $ 
Sell Ether: ETH 1 = AU $ 
Buy XRP: XRP 1 = AU $ 
Sell XRP: XRP 1 = AU $ 
Buy Litecoin: LTC 1 = AU $ 
Sell Litecoin: LTC 1 = AU $ 
Buy bitcoin: BTC 1 = AU $ 
Sell bitcoin: BTC 1 = AU $ 
Buy Ether: ETH 1 = AU $ 
Sell Ether: ETH 1 = AU $ 
Buy XRP: XRP 1 = AU $ 
Sell XRP: XRP 1 = AU $ 
Buy Litecoin: LTC 1 = AU $ 
Sell Litecoin: LTC 1 = AU $ 

Bitcoin Weekly Analysis — 30/04/18

Apr 30 2018 · by Muneeb Khan
Category:  Market Analysis

Weekly technical analysis: 30 April, 2018

Since the break of the down trendline on a strong, wide-bodied candle on 20 April, BTC has hit a confluence of resistance. We are, however, resting on the upward trendline, which is again serving as support after it flipped roles and served as resistance after the initial break of the up trendline on 29 March.

What’s in store for BTC? Considering the above, there are three possible scenarios:

  • Price will move up. If the market breaks the confluence of resistance with good volume and momentum, BTC may challenge the overhead resistance offered by the 38.2% fib retracement of the down leg from 17 Dec 2017 – 6 Feb 2018, and the initial swing high from the reaction of the 6 Feb low.

  • Price will move down. If the market is unable to break the confluence of resistance, we could find support on the down trendline, which would then serve as support.

  • Price will move sideways. If the market doesn’t gain momentum on either side, the price could stay range bound.

We’ll be back again next week with another update – stay tuned!

Please keep in mind that this technical analysis is for informational purposes only, and should not be taken as investment advice.


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