Bitcoin BTC/USD are traded at the level of 6369 and continue to move within the correction and formation of the «Triangle» model. At this point, we should expect a test of the resistance level near the area of 6470. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below the level of 5880.
Bitcoin (BTC/USD) technical analysis August 21, 2018
In favor of lower quotations BTC/USD will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the Bitcoin drop option will result in a strong and breakdown of the area 6550, which will indicate the breakdown of the «Triangle» border and the continued growth of the Bitcoin exchange rate. With the breakdown of the lower bound of the Triangle model and the closing of the cryptocurrency quotes below 6250, one should expect confirmation of the development of the depreciation option for the digital asset.
Bitcoin (BTC/USD) technical analysis August 21, 2018 involves an attempt to test the resistance level near the 6470 area and continue falling of the cryptocurrency with a potential target at 5880, an additional signal in favor of Bitcoin depreciation will be a resistance line test on the relative strength index (RSI).
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