Bitcoin BTC/USD are trading at 3823 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $67 550 687 938. At the moment, we should expect an attempt to test the resistance level near the area of 3950. Where again we should expect a rebound and an attempt to continue the fall of the Bitcoin rate with the goal below 3100.
Bitcoin forecast & technical analysis December 6, 2018
In favor of falling BTC/USD quotes, a test of the resistance line on the relative strength index (RSI) will come out. As well as a rebound from the upper limit of the bearish channel. Cancellation of the Bitcoin exchange rate decline will be a strong growth and a breakdown of the 4300 area. This will indicate a breakdown of the upper limit of the downward channel and continued growth of the Bitcoin rate with a potential target of 4700. With the breakdown of the support area and the closure of cryptocurrency quotes below 3600, we can expect an acceleration of the rate decline digital asset.
Bitcoin forecast & technical analysis December 6, 2018 suggests an attempt to test the resistance level near 3950. And then the cryptocurrency will continue to fall with a potential target of 3100. 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 4300 area.
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