Bitcoin BTC/USD are traded at the level of 9200 and continue to move within the bearish trend. At this point, we should expect a test of the resistance area near the level of 9350. Again, we should expect a rebound and an attempt to continue falling Bitcoin with a target below 7000. In favor of falling quotations BTC/USD will test the resistance line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders» on the chart of the indicator.
Bitcoin forecast & technical analysis February 5, 2018
The abolition of the Bitcoin reduction option will be a strong growth and breakdown of the area 9850, which will indicate the continuation of the growth of BTC/USD above the level of 10800. With the breakdown of the lower boundary of the «Wedge» model and the closing below 8400 it is expected to accelerate the drop of Bitcoin quotations.
Bitcoin forecast & technical analysis February 5, 2018 suggests an attempt to test the resistance level near 9350 and continue falling to the area below the level of 7000, an additional signal in favor of the Bitcoin drop will be a test of the resistance line on the indicator of relative strength index (RSI).
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