Last week, Bitcoin tried to overcome short-term resistance around the $ 11,200 level, but the first attempt was unsuccessful. Today, the main cryptocurrency went into a small correction in order to take a new overclock. What will be the coming week, let's figure it out in our traditional weekly forecast of the bitcoin rate against the dollar. BTCUSD Forecast Bitcoin successfully rebounded from the level of $ 10,000 and tried to break through $ 11,200 last week. Since there was no impulse rebound down, we can safely say that there was a small accumulation of liquidity and, accordingly, sellers in the current range. It is likely that after a short-term rollback, Bitcoin will rush up again and this time it will overcome temporary resistance without any problems. A couple of important indicators also speak in favor of further growth. The first of them is the 50 and 100 day moving averages (MA 50 and 100), which avoided crossing and did not form the so-called “cross of death”, meaning a long period of decline and correction. If you shouldn't focus too much on MA50, then the price rebound from MA100 two weeks earlier around $ 10,000 speaks of the strongest support of this level. If within the next week the BTCUSD pair manages to overcome $ 11,200, then an impulse rise to $ 12,000 and an attempt to break it is quite likely. An additional stimulating factor is the beginning of an increase in open interest in bitcoin futures on the Chicago Mercantile Exchange, which grew by almost $ 100 million since last week and reached $ 500 million in June. Against the background of low trading volumes, this signal can be regarded as bullish, since there is a high probability a set of positions by major players, which, as a rule, is followed by impulsive growth.
By the end of the year, Bitcoin may reach an all-time high of $ 20,000
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