Bitcoin BTC/USD are traded at 7429 and continue to move within the bearish trend. At this point, we should expect a test of the resistance level near the area of 7550. 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 6400.
Bitcoin (BTC/USD) technical analysis May 31, 2018
In favor of falling quotations BTC/USD will test the resistance line on the indicator of relative strength index (RSI). The cancellation of the Bitcoin drop option will result in a strong growth and breakdown of the 7800 area, which will indicate the breakdown of the upper border of the channel and the continued growth of the Bitcoin exchange rate.
Bitcoin (BTC/USD) technical analysis May 31, 2018 suggests an attempt to test the resistance level near the area of 7550 and continue falling with a potential target at 6400, an additional signal in favor of the Bitcoin drop will be a trend line test on the relative strength index (RSI), the cancellation of the decline of the cryptocurrency there will be a strong growth and breakdown of the area of 7800, in this case it is necessary to expect the continued growth of Bitcoin with a potential target near the area of 10400.
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