Bitcoin BTC/USD are traded at the level of 6633 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 area of 6950. 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 5800.
Bitcoin (BTC/USD) technical analysis June 19, 2018
In favor of falling quotes BTC/USD will test the resistance line on the indicator of relative strength index (RSI), as well as test the upper boundary of the channel. The abolition of Bitcoin’s fall will be a strong growth and a breakdown of the 7200 area, which will indicate the breakdown of the upper boundary of the bearish channel and the continued growth of the Bitcoin exchange rate with a target above the level of 7650. With the breakdown of the support area and the closing of the cryptocurrency quotes below 6200, it is necessary to confirm the development of the bearish trend.
Bitcoin (BTC/USD) technical analysis June 19, 2018 suggests an attempt to test the resistance level near the area of 6950 and continue falling with a potential target at 5800, an additional signal in favor of the Bitcoin drop will be a resistance line test on the relative strength index (RSI).
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