Bitcoin BTC/USD are traded at the level of 9074 and continue to move within the bullish channel. At this point, we should expect a test of the support level near the 9000 area. 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 9950.
Bitcoin (BTC/USD) technical analysis May 10, 2018
In favor of the growth of quotations BTC/USD will break the resistance line on the indicator of relative strength index (RSI). The abolition of the Bitcoin growth option will be the fall and breakdown of the 8800 area, which will indicate the breakdown of the lower boundary of the outgoing channel and the continued drop in the Bitcoin. A confirmation of the development of the growth of the cryptocurrency will be the breakdown of the resistance area and the closure above the level of 9500.
Bitcoin (BTC/USD) technical analysis May 10, 2018 suggests an attempt to test the lower border of the channel near the 9000 area and continue growth with a potential target at the level of 9950, an additional signal in favor of Bitcoin’s growth will be a breakdown of the downtrend line on the indicator of relative strength index (RSI).
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