Bitcoin BTC/USD are trading at 3355 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $59 760 482 836. Moving averages indicate the presence of a bearish trend in Bitcoin. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 3385. Where 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 3275.
Bitcoin Forecast and Analysis BTC/USD February 8, 2019
In favor of falling BTC/USD quotes, a test of the downward trend line on the relative strength index (RSI) will come out. As well as a rebound from the lower border of the model «Triangle». Cancellation of the Bitcoin exchange rate decline will be a strong growth and breakdown of the 3450 area. This will indicate the breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 3800. With the breakdown of the support area and the closure of cryptocurrency quotes below the level of the digital asset.
Bitcoin Forecast and Analysis BTC/USD February 8, 2019 suggests an attempt to test the resistance level near 3385. And then the cryptocurrency will continue to fall with a potential target at 3275. An additional signal in favor of Bitcoin depreciation will be the test of the downward trend line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be the growth and breakdown of the area of 3450. This will indicate continued growth with a potential target above 3800.
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