Bitcoin BTC/USD are trading at 3349 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $59 694 720 009. Moving averages indicate a bearish trend in Bitcoin. At the moment, we should expect an attempt of growth and a test of the resistance level near the region of 3405. Where once again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below 3250.
Bitcoin Forecast and Analysis BTC/USD February 7, 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». The cancellation of the Bitcoin exchange rate option will be a strong growth and a breakdown of the 3500 area. This will indicate the breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 3900. With the breakdown of the support area and the closure of the cryptocurrency quotes below 3295, a decline in the digital asset rate is expected.
Bitcoin Forecast and Analysis BTC/USD February 7, 2019 suggests an attempt to test the resistance level near the region of 3405. And then the cryptocurrency will continue to fall with a potential target at 3250. An additional signal in favor of Bitcoin depreciation will be the test of forming a reversal model on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be the growth and breakdown of the area of 3500. This will indicate continued growth with a potential target above 3900.
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