Bitcoin BTC/USD are traded at 6854 and continue to move within the bullish channel. The capitalization of the cryptocurrency at the time of publication of the forecast is $118 839 879 051. At this point, we should expect a test of the support level near the area of 6650. 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 7750.
Bitcoin (BTC/USD) technical analysis August 31, 2018
In favor of the growth of quotations BTC/USD will perform a test of the support line on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth option will be the fall and breakdown of the 6450 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 cryptocurrency quotes above the level of 7150, one should expect confirmation of the development of the growth option for the digital asset rate.
Bitcoin (BTC/USD) technical analysis August 31, 2018 assumes an attempt to test the support level near the 6650 area and continue the growth of the cryptocurrency with a potential target at 7750, an additional signal for the growth of the Bitcoin rate will be a test of the support line on the indicator of relative strength index (RSI).
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