Bitcoin BTC/USD are traded at 8441 and continue to move within the correction. At this point, we should expect a test of the support area near the 8300 level. Again, we should expect a rebound and an attempt to continue Bitcoin growth with a target above the level of 10500 as part of the development of the bullish «Wolfe Wave» model.
Bitcoin (BTC/USD) technical analysis on March 26, 2018
In favor of the growth of quotations BTC/USD will test the trend line on the indicator of relative strength index (RSI). The abolition of Bitcoin’s growth growth will be the fall and breakdown of the area of 6500, which will indicate the breakdown of the support area and the continuation of the fall below the level of 5800. Confirmation of the bullish trend will be the breakdown of the resistance area and the closing above the level of 9200.
An additional signal in favor of the growth of quotations is the formation of a bullish «5-0» model at small time intervals. In this case, you should expect a test of the lower border of the channel and the continued growth of quotations Bitcoin. Canceling the model will break through the area of 8000.
Bitcoin (BTC/USD) technical analysis on March 26, 2018 suggests an attempt to test the support area near the level of 8300 and continue growth with a potential target at 10500, an additional signal in favor of Bitcoin growth will be a test of the trend line on the indicator of relative strength index (RSI).