Bitcoin BTC/USD are traded at the level of 6394 and continue to move within the correction. Capitalization of the cryptocurrency at the time of publication of the forecast is $ 111 179 179 935. 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 5450 level.
Bitcoin (BTC/USD) technical analysis August 24, 2018
In favor of lowering the quotations of BTC/USD, a resistance line test will be performed on the indicator of relative strength index (RSI), as well as the formation of the «Head and Shoulders» reversal model. The cancellation of the Bitcoin drop option will be a strong and breakdown of the area 6950, 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 quotations of the cryptocurrency below the level of 6150, one should expect confirmation of the development of the option of depreciation of the digital asset.
Bitcoin (BTC/USD) technical analysis August 24, 2018 suggests an attempt to test the resistance level near the area of 6500 and continue falling of the cryptocurrency with a potential target at 5450, 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 a strong growth and breakdown of the region of 6950, which will indicate the continued growth of the digital currency.
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