Bitcoin BTC/USD are trading at 3362 and continue to move as part of the correction and the formation of the «Head and Shoulders» model. Cryptocurrency capitalization at the time of the publication of the forecast is $59 560 405 758. Moving averages indicate a bearish trend in Bitcoin. At the moment, we should expect an attempt to grow and test the resistance level near the area of 3465. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with a target below the level of 2850.
Bitcoin forecast & technical analysis December 14, 2018
In favor of falling BTC/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. Cancellation of the Bitcoin exchange rate decline will be a strong growth and a breakdown of the 3900 area. This will indicate the breakdown of the resistance area and the continued growth of the Bitcoin rate with a potential target at 4550. With the breakdown of the «Neckline» of the reversal pattern and the closure of cryptocurrency quotes below 3150, we can expect an acceleration of development depreciation of the digital asset.
Bitcoin forecast & technical analysis December 14, 2018 suggests an attempt to test the resistance level near 3465. And then the cryptocurrency will continue to fall with a potential target at 2850. An additional signal in favor of Bitcoin depreciation will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the 3900 region.
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