Bitcoin BTC/USD are trading at 3683 and continue to move as part of growth. Cryptocurrency capitalization at the time of the publication of the forecast is $65 176 073 057. Moving averages indicate the presence of an upward trend in Bitcoin. At the moment, we should expect an attempt to grow and test the resistance level near the area of 3765. Where once again we should expect a rebound and an attempt to continue to lower the rate of Bitcoin with a target below the level of 3200.
Bitcoin forecast & technical analysis December 20, 2018
The formation of the «Head and Shoulders» reversal pattern on the relative strength index (RSI) will be in favor of lowering BTC/USD quotes. Cancellation of the Bitcoin exchange rate decline will be a strong growth and a breakdown of the 3970 region. This will indicate a breakdown of the upper channel boundary and the continued growth of the Bitcoin rate with a potential target at 4500. With the breakdown of the support area and the closure of cryptocurrency quotes below the 3500.
Bitcoin forecast & technical analysis December 20, 2018 suggests an attempt to test the resistance level near 3765. And then the cryptocurrency will continue to fall with a potential target at 3200. 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 3970 region.
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