Bitcoin BTC/USD are traded at the level of 7172 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 area of 7100. 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 8450 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 29, 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 6800 area, which will indicate the breakdown of the lower boundary of the bullish channel and the continued drop in the Bitcoin exchange rate. Confirmation of the growth of the cryptocurrency will be the breakdown of the upper limit of the «Wedge» model and the closing of quotes above the level of 7500.
Bitcoin (BTC/USD) technical analysis May 29, 2018 involves trying to test the support level near the area of 7100 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 6800.
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