Bitcoin BTC/USD are traded at the level of 7530 and continue to move within the bearish trend. At this point, we should expect an attempt to test the lower bound of the «Triangle» model near the level of 7700. Again, we should expect a rebound and an attempt to continue Bitcoin dropping below the 6900 level.
Bitcoin (BTC/USD) technical analysis March 30, 2018
In favor of falling quotes BTC/USD will perform a downtrend test on the indicator of relative strength index (RSI). The cancellation of the Bitcoin drop option will result in a strong growth and breakdown of the 8100 area, which will indicate the breakdown of the upper boundary of the descending channel and the continuation of the growth above the level of 8800. Confirmation of the bearish tendency development will be the breakdown of the lower boundary of the channel and the closure below the level of 7100.
Bitcoin (BTC/USD) technical analysis March 30, 2018 suggests an attempt to test the resistance area near the level of 7700 and continue falling with a potential target at 6900, an additional signal in favor of the Bitcoin drop will be a trend line test on the relative strength index (RSI).