Bitcoin BTC/USD are traded at the level of 6422 and continue to move within the correction and formation of the «Triangle» model. Capitalization of the Crypto currency at the time of publication of the forecast remains at $ 111 274 800 683. At this point, we should expect a test of the resistance level near the area of 6500. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below 5650 level.
Bitcoin (BTC/USD) technical analysis August 22, 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 be a strong and breakdown of the 6650 area, 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 the level of 6050, it is necessary to expect confirmation of the development of the depreciation of the digital asset.
Bitcoin (BTC/USD) technical analysis August 22, 2018 involves an attempt to test the resistance level near the area of 6500 and the continuation of the fall of the cryptocurrency with a potential target at 5650, an additional signal in favor of Bitcoin depreciation will be a resistance line test on the relative strength index (RSI), the fall of the cryptocurrency will be strong growth and breakdown of the region 6650, which will indicate the continued growth of the digital currency.
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