Bitcoin BTC/USD are traded at the level of 6732 and continue to move within a bearish trend. At this point, we should expect a test of the resistance level near the level of 7200. Again, we should expect a rebound and an attempt to continue the Bitcoin drop below the 5500 level.
Bitcoin (BTC/USD) technical analysis April 6, 2018
In favor of falling quotes BTC/USD will perform a bearish test on the indicator of relative strength index (RSI). The abolition of Bitcoin’s fall will be a strong growth and breakdown of the 7800 area, which will indicate a breakdown of resistance and a continuation of growth above the level of 8500. A breakdown of the support area and closing below the level of 6400 will prove the development of a bearish trend.
In favor of the fall of BTC/USD, the formation of the reversal model «Head and Shoulders» will also take place at small time intervals.
Bitcoin (BTC/USD) technical analysis April 6, 2018 involves an attempt to test the resistance area near the level of 7200 and continue falling with a potential target at 5500, an additional signal in favor of the Bitcoin drop will be a trend line test on the relative strength index (RSI).