Weekly Bitcoin Price Analysis and Prediction

Weekly bitcoin price analysis

13/7/2015 – Bitcoin price on the rise

All the indications from the previous week suggested an upside movement in the price index. Correctly so, the week started on a high with bitcoin price jumping a massive 14% to break the $300 mark and was trading around $310 comfortably. The price climbed up as high as $317.99, highest for the last seven month. The MACD and the Signal Line were pretty strong with values of 14.8326 and 9.6590 respectively. The Histogram value was at 5.1736. The worrying point was the daily RSI value of 79.4324; highest of 2015 which indicated extreme overbought situations.





14/7/2015 – Hold, hold, hold

Greece was determined to remain at Eurozone as the Greek government came to an understanding with the creditors. With Grexit situation more or less out of the scenario Bitcoin price dropped by more than 8 percent. After the news of the Greece deal, the price dropped to $281 mark for some time than stabilizing at $294 mark. The MACD was positive with a value of 13.8294 with values like Signal Line and Histogram were also positive values of 10.2689 and 3.5605 respectively. The MFI declined to 59.3305 suggesting a bigger Bitcoin price drop in future. RSI value was at 66.8742, eased from its highly overbought levels.





15/7/2015 – Movements expected

As the Greece economy situation still headed for uncertain future, Bitcoin was sizing up for some action with market price being down by 1.63%. Bitcoin value was around 288.9$ mark. The MACD held a healthy position at 13.0754. Signal Line and Histogram had values of 10.8195 and 2.2559 respectively, keeping each

Originally appeared at: https://99bitcoins.com/weekly-bitcoin-price-analysis-and-prediction/