Bitcoin BTC/USD are traded at the level of 7021 and continue to move within the framework of the bullish correction. At this point, we should expect a test of the resistance level near the 7120 area. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below 6525 level.
Bitcoin (BTC/USD) technical analysis August 8, 2018
In favor of lower quotations BTC/USD will test the resistance area on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth option will be the fall and breakdown of the 7350 area, which will indicate the breakdown of the resistance level 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 6800 level, one should expect confirmation of the development of the fall variant.
Bitcoin (BTC/USD) technical analysis August 8, 2018 suggests a test of the resistance level near the 7120 area and the continuation of the fall of the cryptocurrency with a potential target at 6525, an additional signal in favor of Bitcoin depreciation will be a resistance area test on the relative strength index (RSI), decrease of the cryptocurrency will be a strong growth and breakdown of the region 7350.