Bitcoin BTC/USD are traded at the level of 6558 and continue to move within the correction. At this point, we should expect an attempt to test the upper limit of the bearish channel near the area of 6300. Where 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 7000.
Bitcoin (BTC/USD) technical analysis July 4, 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 scenario will be the fall and breakdown of the 6150 area, which will indicate the breakdown of the upper channel boundary area and the continued decrease in the Bitcoin rate with a target below 5800. With the breakdown of the resistance area and the closing of the cryptocurrency rates above 6850, it is necessary to confirm the development of the upward trend.
Bitcoin (BTC/USD) technical analysis July 4, 2018 assumes an attempt of a support level test near the 6300 area and the continuation of the growth of the cryptocurrency with a potential target at 7000, an additional signal for the growth of the Bitcoin rate will be an uptrend test on the relative strength index (RSI).
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