Bitcoin BTC/USD are traded at 7292 and continue to move within the framework of the formation of the bullish «5-0» model. At this point, we should expect a test of the support level near the 7150 area. Again, we should expect a rebound and an attempt to continue the growth of the Bitcoin exchange rate with a target above the 8400 level as part of the start of the model’s development. The overall growth target is the area above the 10400 level.
Bitcoin (BTC/USD) technical analysis May 25, 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 6850, 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 25, 2018 involves trying to test the support level near the 7150 area and continuing growth with a potential target at 8400, 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 6850.
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