Bitcoin BTC/USD are traded at the level of 6628 and continue to move within the framework of correction and formation of the «Triangle» model. Capitalization of the cryptocurrency at the time of publication is $ 114 851 656 306. At this point, we should expect a test of the resistance level near the 6800 area. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below 5600 level.
Bitcoin (BTC/USD) technical analysis August 23, 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 7050, which will indicate the breakdown of the upper border of the channel and the continued growth of the Bitcoin exchange rate. With the breakdown of the support area and the closing of the quotes of the cryptocurrency below 6250, one should expect confirmation of the development of the option of depreciation of the digital asset.
Bitcoin (BTC/USD) technical analysis August 23, 2018 involves an attempt to test the resistance level near the 6800 area and continue falling of the cryptocurrency with a potential target at 5600, an additional signal in favor of Bitcoin depreciation will be a resistance line test on the relative strength index (RSI).
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