Bitcoin BTC/USD are traded at 6439 and continue to move in a bearish trend. At this point, we should expect an attempt to test the upper boundary of the bearish channel near the level of 7650. Again, we should expect a rebound and an attempt to continue falling Bitcoin with a target below 4700.
Bitcoin forecast & technical analysis February 7, 2018
In favor of falling quotes BTC/USD will test the resistance line on the indicator of relative strength index (RSI). The abolition of the Bitcoin reduction option will be a strong growth and breakdown of the 8200 area, which will indicate the continuation of the growth of BTC/USD above the level of 9800. With the breakdown of the channel’s lower boundary and closing below the level of 5000 it is expected to accelerate the drop of Bitcoin quotations.
Bitcoin forecast & technical analysis February 7, 2018 involves an attempt to test the upper border of the channel near 7650 and continue falling to the area below the 4700 level, 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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