Bitcoin BTC/USD are traded at the level of 9970 and continue to move in the fall. At this point, we should expect a test of the broken «Triangle» pattern near the 10400 level. Again, we expect a rebound and an attempt to continue Bitcoin with a target below 8450.
Bitcoin forecast & technical analysis February 1, 2018
In favor of the growth of BTC/USD quotes, a trend line test will be performed on the relative strength index (RSI). The abolition of the Bitcoin reduction option will be a strong growth and a breakdown of the area of 11500, which will indicate the continuation of the growth of BTC/USD above the level of 16500. With the breakdown of the level of 9500, it is expected to accelerate the drop in quotations of Bitcoin.
Bitcoin forecast & technical analysis February 1, 2018 assumes an attempt to test the level of 10400 and continue falling to the area below the level of 8450 within the «Triangle» model, an additional signal in favor of the Bitcoin drop will be a resistance line test on the relative strength index (RSI).
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