Bitcoin BTC/USD are traded at the level of 6326 and continue to move within the limits of the decline. At this point, we should expect a test of the resistance level near the area of 6450. Again, we should expect a rebound and an attempt to continue the fall of the Bitcoin exchange rate with a target below the level of 6000.
Bitcoin (BTC/USD) technical analysis July 12, 2018
In favor of lowering the quotations of BTC/USD, a test of a broken trend line will appear on the indicator of relative strength index (RSI). The abolition of the Bitcoin fall will be a strong growth and a breakdown of the area of 6550, which will indicate the breakdown of the resistance area and the continued growth of the Bitcoin exchange rate with a target above the level of 7000. With the breakdown of the support area and the closing of the quotes of the cryptocurrency below 6200, it is necessary to confirm the development of a bearish trend.
Bitcoin (BTC/USD) technical analysis July 12, 2018 suggests an attempt to test the resistance level near the 6450 area and continue falling of the cryptocurrency with a potential target at 6000, an additional signal in favor of Bitcoin depreciation will be a test of a broken trend line on the indicator of relative strength index (RSI), variant of the fall of the cryptocurrency will be the growth and breakdown of the area 6550.
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