Bitcoin BTC/USD are trading at 3729 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $66 243 317 610. Moving averages indicate the presence of a downward trend in Bitcoin. At the moment, we should expect an attempt to reduce and test the support level near the area of 3550. Where again we should expect a rebound and an attempt to continue the growth of the Bitcoin rate with the goal above the level of 4700.
Bitcoin forecast & technical analysis December 28, 2018
In favor of the growth of BTC/USD quotes, a test of the rising trend line on the relative strength index (RSI) will be made. As well as the formation of the head and shoulders reversal pattern. Cancellation of the Bitcoin exchange rate growth option will also lead to the breakdown of the 3400 area. This will indicate the breakdown of the channel boundary and the continuation of the Bitcoin exchange rate decline with a potential target at 3050. With the breakdown of the resistance area and the closure of cryptocurrency quotes above the 4250, you should expect the growth of the digital asset rate.
Bitcoin forecast & technical analysis December 28, 2018 suggests an attempt to test the support level near 3550. And then the cryptocurrency will continue to grow with a potential target of 4700. An additional signal in favor of the growth rate of Bitcoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth of cryptocurrency will be the fall and the breakdown of the area of 3400.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
