Bitcoin BTC/USD re traded at the level of 8232 and continue to move within the framework of the formation of the bullish «5-0» model. At the moment, we should expect a test of the support level near the area of 7300. 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 10400 as part of the model’s development.
Bitcoin (BTC/USD) technical analysis May 24, 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 option will be the fall and breakdown of the area 6900, which will indicate the breakdown of the lower boundary of the rising channel and the continued decline in the Bitcoin exchange rate. Confirmation of the growth of the cryptocurrency will be the breakdown of the upper boundary of the bearish channel and the closing above the level of 8300.
Bitcoin (BTC/USD) technical analysis May 24, 2018 involves trying to test the support level near the 8300 area and continuing growth with a potential target at 10,400, an additional signal in favor of Bitcoin’s growth will be a trend line test on the relative strength index (RSI), the cancellation of the growth rate of the cryptocurrency there will be a fall and breakdown of the area 6900.
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