Bitcoin BTC/USD are traded at the level of 9074 and continue to move within the bearish channel. At this point, we should expect a test of the resistance level near the area of 8550. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target above the level of 7700.
Bitcoin (BTC/USD) technical analysis May 15, 2018
In favor of falling quotations BTC/USD will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the Bitcoin fall will be a strong growth and breakdown of the 8750 area, which will indicate the breakdown of the upper boundary of the descending channel and the continued growth of the Bitcoin exchange rate. A confirmation of the development of the fall of the cryptocurrency will be the breakdown of the support area and the closure below the level of 8050.
Bitcoin (BTC/USD) technical analysis May 15, 2018 suggests an attempt to test the resistance level near the area of 8550 and continue falling with a potential target at 7700, an additional signal in favor of the Bitcoin drop will be a down trend line test on the relative strength index (RSI).