Bitcoin BTC/USD traded at 8005 and continue to move within the correction. At this point, we should expect an attempt to test the bottom of the channel near the area of 7750. Again, we should expect a rebound and an attempt to continue the growth of the Bitcoin exchange rate with a target above the level of 9450.
Bitcoin (BTC/USD) technical analysis August 1, 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 the Bitcoin growth option will be the fall and breakdown of the 7450 area, which will indicate the breakdown of the lower boundary of the channel and the continued decline in the Bitcoin rate. With the breakdown of the resistance area and the closing of the quotes of the cryptocurrency above the level of 8500, one should expect confirmation of the development of the growth variant.
Bitcoin (BTC/USD) technical analysis August 1, 2018 involves trying to test the support level near the area of 7750 and continuing the growth of the cryptocurrency with a potential target at 9450, an additional signal for the growth of the Bitcoin rate will be a trend line test on the relative strength index (RSI).