Bitcoin BTC/USD traded at 8134 and continue to move within the correction. At this point, we should expect an attempt to test the bottom of the uplink near the area of 7750. 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 9200.
Bitcoin (BTC/USD) technical analysis July 31, 2018
In favor of the growth of quotations BTC/USD will test the trend line on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth option will be the fall and breakdown of the area of 7550, 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 quotes of the cryptocurrency above the level of 8500, one should expect confirmation of the development of the growth variant.
Bitcoin (BTC/USD) technical analysis July 31, 2018 assumes an attempt to test the support level near the area of 7750 and continue the growth of the cryptocurrency with a potential target at 9200, an additional signal for the growth of the Bitcoin rate will be a test of the trend line on the indicator of relative strength index (RSI).