Bitcoin BTC/USD are traded at the level of 8684 and continue to move in the fall. At this point, we should expect a test of the resistance level near the area of 8950. 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 7600.
Bitcoin (BTC/USD) technical analysis May 16, 2018
In favor of falling quotations BTC/USD will test the resistance line on the indicator of relative strength index (RSI). The abolition of the Bitcoin fall will be a strong growth and breakdown of the area of 9150, which will indicate the breakdown of the resistance area 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 8150.
Bitcoin (BTC/USD) technical analysis May 16, 2018 suggests an attempt to test the resistance level near the area of 8950 and continue falling with a potential target at 7600, an additional signal in favor of the Bitcoin drop will be a downtrend line test on the relative strength index (RSI).