Bitcoin BTC/USD are traded at 7126 and continue to move in a bearish trend. At this point, we should expect an attempt to test the upper limit of the downlink near the level of 7350. Again, we should expect a rebound and an attempt to continue falling Bitcoin with a target below the level of 6000.
Bitcoin (BTC/USD) technical analysis March 31, 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 will result in a strong growth and breakdown of the 7800 area, which will indicate the breakdown of the upper boundary of the descending channel and the continuation of growth above the level of 8300. Confirmation of the downward trend development will break down the lower boundary of the bearish channel and close below the level of 5900.
Bitcoin (BTC/USD) technical analysis March 31, 2018 suggests an attempt to test the resistance area near the level of 7350 and continue falling with a potential target at 6000, an additional signal in favor of the Bitcoin drop will be a trend line test on the relative strength index (RSI).